Adani Enterprises on Friday said its wholly-owned subsidiary Adani Defense Systems and Technologies has signed a definitive agreement to acquire a 50 per cent stake in General Aeronautics, which provides robotic drones and drone-based solutions for crop protection. does.
Adani Enterprises said in a regulatory filing, “Adani Defense Systems & Technologies Ltd. will leverage its military drones and AI/ML (Artificial Intelligence/Machine Learning) capabilities to provide end-to-end solutions for the domestic agriculture sector and general Will work with Aeronautics.” Enter on Friday.
It is a purely cash deal and the acquisition is expected to be completed by July 31.
According to research firm Research and Markets, the Indian drone industry has projected that the country’s unmanned aerial vehicle (UAV) market will be worth USD 1.81 billion (or Rs 13,575 crore) by the financial year 2025-26. Drone Federation of India It is estimated that this sector will reach Rs 50,000 crore in five years.
General Aeronautics is an end-to-end agriplatform solutions provider based out of Bengaluru, India and incorporated in 2016. It provides robotic drones and drone-based solutions for crop protection services, crop health, precision farming and yield monitoring using artificial intelligence. Analysis for the agriculture sector.
Adani Defense Systems and Technologies specializes in the development and production of systems including Electronics Warfare, Avionics, Training and Simulation and Radar. Adani Defense has set up India’s first unmanned aerial vehicle manufacturing facility, India’s first private sector small arms manufacturing facility and is currently in the process of setting up India’s first comprehensive aircraft MRO facility in Nagpur.
In 2019, Adani Defense Systems and Technologies had also acquired Alpha Design Technologies Pvt Ltd. Alpha Design Technologies provided a strong Tier-1 capability to Adani Defense and Aerospace to form a foundation for the platform capabilities.
Adani Enterprises Limited (AEL), the flagship firm of the Adani Group, posted a consolidated net profit of Rs 304.32 crore attributable to owners for the quarter ended March 31, 2022. Its consolidated revenue grew 83.7 per cent to Rs 25,141.56 crore in the fourth quarter of 2021-22. 13,688.95 crore as compared to Rs 13,688.95 crore in the year-ago period, according to its filings with the stock exchanges.
Shares of Adani Enterprises closed at Rs 2,080.10, up 32.40 points, or 1.58 per cent, on the BSE on Friday.
Gautam Adani spoke at Davos
speaking in World At the Economic Forum in Davos, Switzerland on Thursday, Gautam Adani, chairman and founder of the Adani Group, said international alliances are built on a slippery foundation of selfishness and that India needs to increase and strengthen self-reliance in all sectors from vaccination to defense and semiconductors. Is.
“Nearly every leader I spoke to, acknowledged, and some explicitly stated, that a new and more sophisticated arms race is now coming. Coalitions will be built and rebuilt around defense agreements and that many countries are in the throes of self-reliance. May give priority to defense manufacturing and procurement as a non-negotiable aspect,” he said.
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