Stock Report

NeoSky India set to introduce consumer micro drones

Posted On : 2022-03-10 09:12:45( TIMEZONE : IST )

RattanIndia Enterprises (REL), a progressive Company, that has taken a lead in building businesses in new-age sectors including electric motorcycles, drone (UAV), e-commerce and fintech, announced its plans to develop and launch consumer micro drones across India, through its 100% subsidiary NeoSky India Ltd. NeoSky is working on a well defined strategy and is aiming to be the first Indian company to achieve this milestone. These drones will be widely used, at weddings, in sports coverage, broadcasting, amateur travel vlogs, surveillance and warehouse management. Indigenously developed consumer micro drones, are largely expected to be better than the current options available in international markets. Integrating NextGen technologies & smart innovations these micro drones will be enabled with autonomous flight management capability and some industry first features.

In August'21, Rattanindia Group had made a strategic investment in Silicon Valley, U.S.- based, on-demand drone delivery company "Matternet", thereby marking its entry into the drone industry, in the process enhancing its experience profile. Matternet presently has operations in the U.S., Germany, Switzerland, Japan and Abu Dhabi and has completed more than 30,000 delivery-flights successfully.

With Govt. banning the drone import in all forms, i.e, CBU, SKD & CKD, there will be tremendous opportunities for Indian companies, especially in consumer micro drones and will lead to indigenous core manufacturing facilities, formation of component eco system, & research and product development capabilities.

The gap in demand and supply created by the ban on drone import is huge, especially in consumer segment micro drones, and the replacement market opportunity in this segment alone is huge, with projected annual CAGR growth of 16-18% of new demand which is expected to grow further in years to come. The existing non-compliant uncertified drone base in consumer micro category offers a sweet spot due to mandatory switch over to compliant & type certified drones in the future and is an available addressable market. NeoSky is targeting to have leadership market share in consumer market of micro drones in India.

NeoSky is working aggressively and smartly to gain the momentum in this segment and will deliver the maximum value to our customers. The company will set benchmark in the industry in terms of technology, features, innovation and products and become the leading player in the drone industry with presence in all use case segments.

Sharing her vision and plans for the drone business, Anjali Rattan Nashier, Business Chairperson of RattanIndia Enterprises Limited, said, "NeoSky drones will be fully compliant with regulations, bringing peace of mind to consumers. Our business model will offer an optimal mix of functionality, innovation, and convenience, while striving always to keep customers first. Given the deep experience profile of the team and the capabilities being scaled up, I am confident that our offering will be both innovative and replete with indigenous technologies. The enabling pathway created by visionary policies of the Government has set the stage for companies like ours to take lead and create world-class operating models."

Shares of RattanIndia Enterprises Limited was last trading in BSE at Rs. 43.75 as compared to the previous close of Rs. 42.30. The total number of shares traded during the day was 292150 in over 2494 trades.

The stock hit an intraday high of Rs. 44.25 and intraday low of 41.75. The net turnover during the day was Rs. 12678175.00.