Last Updated on May 17, 2024 by Anjali Chourasiya

The rapid increase in technology is giving rise to several developments worldwide. And one such development is drone technology. Either for last-mile delivery or to gather information for disaster management, the drone industry has captured the attention of many investors. In this article, let’s look into the best drone stocks in India listed in the stock market, their usage and factors to check while investing in them.

Best Drone Stocks in India (2024)

NameSub-SectorMarket Cap (Rs. in cr.)Close Price (Rs.)PE Ratio1Y Return (%)Net Profit Margin (%)RSI -14D
Zen Technologies LtdElectronic Equipments8,536.281,016.80199.73248.0118.7452.65
Hindustan Aeronautics LtdAerospace & Defense Equipments267,560.163,984.4045.91181.6420.3879.61
Drone Destination LtdEducation Services597.66242.45243.94137.4620.2871.45
Rattanindia Enterprises LtdPower Trading & Consultancy10,342.8575.10-36.3592.54-6.8841.98
Info Edge (India) LtdOnline Services76,263.515,896.85-710.0261.71-3.9261.00
Larsen and Toubro LtdConstruction & Engineering502,070.223,605.2047.9560.465.6238.75
Paras Defence and Space Technologies LtdAerospace & Defense Equipments2,955.62739.9581.9645.8015.6369.51
Droneacharya Aerial Innovations Ltd398.09166.00115.7227.6917.9761.97
DCM Shriram LtdDiversified Chemicals13,966.37956.5515.3310.047.6447.66

Note: The drone sector stocks listed here are as of 26th April 2024. These are sorted according to their 1Y return.

Relative strength index (RSI) – 14D measures the speed and change of price movement over a 14 trading day period to determine whether a stock is in an overbought or oversold range. RSI values range from 0 to 100. If the RSI is above 80, it is considered that a security is overbought zone or has run up too much and might fall soon. On the contrary if the RSI reading is below 20, it is considered that the security is oversold or has fallen too much and might see price reversal soon.

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About Top Drone Stocks in India

Zen Technologies

Zen Technologies is one of the Indian drone companies in India. Develops and manufactures simulators and training solutions for defence and security forces. Additionally, due to its training and simulation systems for drone operations, it is considered one of the top drone companies’ stocks.

The company, as of 26th April 2024, had a market capitalisation of Rs. 8,536.28 cr. and a stock price of Rs. 574.7. Zen Technologies Ltd’s 1-yr return is  16.69%, and the net profit margin is 30.12%.

Hindustan Aeronautics Ltd

Due to its state-owned status and established reputation in national air security, the company stands as a pioneer in India’s drone technology advancement. It is actively engaged in developing various drones, primarily to fulfil defence needs, and is also transforming the Kiran aircraft series into unmanned aerial vehicles. HAL is anticipated to reap significant benefits from the Indian government’s initiative to foster indigenous drone technology.

The company, as of 26th April 2024, had a market capitalisation of Rs. 2,67,560.15 cr. and a stock price of Rs. 7,143.05. Hindustan Aeronautics Ltd’s 1-yr return is  21.05%, and the net profit margin is 23.58%.

Drone Destination Ltd

It is a cutting-edge drone stock in India that pioneers the development and deployment of innovative drone solutions. Additionally, it revolutionises industries through aerial capabilities and is positioned as a trailblazer in the rapidly evolving drone technology landscape.

As of 26th April 2024, the company’s market capitalisation is Rs. 597.65 cr. and a stock price of Rs. 99.5. Drone Destination Ltd’s 1-yr return is  16.22%, and the net profit margin is 32.15%.

Rattanindia Enterprises Ltd

RattanIndia Enterprises Limited, the leading entity of the Rattanindia Group’s modern growth ventures, stands as a prominent midcap publicly traded firm in India. In September 2021, the company unveiled its drone venture in collaboration with its wholly-owned subsidiary, NeoSky India Ltd. NeoSky India is poised to pioneer an innovative drone system platform, concentrating on industry-specific applications within India, as articulated in an official statement. The company introduced its inaugural anti-drone product, ‘Defender,’ in September of the preceding year, facilitated by its subsidiary Throttle Aerospace, where NeoSky acquired a controlling interest of 60%.

As of 26th April 2024, the company’s market capitalisation is Rs. 10,342.84 cr. and a stock price of Rs. 1,914.95. Rattanindia Enterprises Ltd’s 1-yr return is  23.29%, and the net profit margin is 20.20%.

Info Edge (India) Ltd

Known as the best drone company in India that has made strategic investments in the drone industry. Therefore, the drone company share has invested in various firms like Zomato, Shopkirana, Policybazaar and others. The company, as of 26th April 2024, had a market capitalisation of Rs. 76,263.51 cr. and a stock price of Rs. 28,901.05. Info Edge (India) Ltd’s 1-yr return is  35.82%, and the net profit margin is 28.08%.

Larsen & Toubro Ltd

Larsen & Toubro Limited, known as L&T, is a prominent Indian multinational conglomerate. It has diverse interests spanning engineering, construction, manufacturing, IT, defence, and financial services. Headquartered in Mumbai, L&T operates across various business segments, including Infrastructure, Power, Heavy Engineering, Electrical and Automation, Hydrocarbon, IT and Technology Services, Financial Services, Developmental Projects, and others.

The company, as of 26th April 2024, had a market capitalisation of Rs. 5,02,070.21 cr. and a stock price of Rs. 3,430.35. Larsen and Toubro Ltd’s 1-yr return is  23.34%, and the net profit margin is 64.65%.

Paras Defence & Space Technologies Ltd

Paras Defence & Space Technologies is a drone company share listed in NSE. It focuses on the design, development, and manufacturing of drones and other aerospace systems. They provide defence and homeland security solutions utilising drone technology in India. On 26th April 2024, the company’s market capitalisation was Rs. 2,955.61 cr. and a stock price of Rs. 283.55. Paras Defence and Space Technologies Ltd’s 1-yr return is  26.37%, and the net profit margin is 21.13%.

Droneacharya Aerial Innovations

Droneacharya Aerial Innovations is an Indian drone company that specialises in providing drone-based solutions for industries such as agriculture, infrastructure, mining, and surveying. However, they offer tailored drone services and solutions to meet specific client requirements. It is one of the top drone manufacturing companies in India listed in stock market.

On 26th April 2024, the company’s market capitalisation was Rs. 398.09 cr. and a stock price of Rs. 1,065.95. Droneacharya Aerial Innovations Ltd’s 1-yr return is  24.03%, and the net profit margin is 20.96%.

DCM Shriram Industries Ltd

DCM Sriram Industries stands out as one of India’s leading companies in the drone sector, actively engaged in advancing drone technology. In August 2021, Indian firm DCM Shriram Industries revealed its acquisition of a 30% stake in a Turkish drone manufacturer. This investment, totalling $1 million, underscores India’s involvement in Zyrone Dynamics, a notable producer of unmanned aerial vehicles (UAVs).

The company, as of 26th April 2024, had a market capitalisation of Rs. 13,966.36 cr. and a stock price of Rs. 7,093.9. DCM Shriram Ltd’s 1-yr return is  34.63%, and the net profit margin is 31.12%.

What are Drone Stocks?

Drones are also known as Unmanned Aerial Vehicles (UAVs); Drone stocks are nothing but publicly listed companies that manufacture drones and other related technologies. These aerial vehicles can either fly anonymously or be controlled remotely. Along with defence, drones are used in various industries like delivery service, agriculture, etc.

Drone Industry in India

The drone sector in India is still in the developing stage. The Government of India has given permission to use drones in other sectors like agriculture, healthcare, etc. In May 2022, while inaugurating the drone festival in New Delhi, Prime Minister Narendra Modi called drones a ‘game-changer’ in agriculture. He also acknowledged how during COVID-19, drones helped deliver vaccines to remote locations in the country. 

In December 2022, the Ministry of Civil Aviation (MoCA) issued guidelines for the Production-Linked Incentive (PLI) scheme, introduced in September 2021 for drone manufacturing and components companies. The MoCA allocated Rs. 120 cr. fund for companies manufacturing drones and drone components between FY 2023-2025.

Moreover, it is estimated that by 2030 India’s drone market will grow to nearly ₹2.5 tn, up from just ₹29 bn in 2020. The defence sector is expected to be the largest contributor to this market by 2030.

Though only a few companies are looking into the drone sector, with the government’s support and demand, the industry is expected to grow and evolve in the next few years. 

Usage of Drones in India

Previously, drones were used only in the defence sector, but currently, it is used in several fields. And with the rapid rise in technology in every field, we can expect the usage of drones in more sectors. Here are a few uses of drone technology in India. 

  • Security: Drones are used for security and surveillance purposes. Like, for border surveillance, tracking any criminal activity, and keeping an eye on crowds at events.
  • Aerial videography and photography: The high-quality cameras equipped with drones can be used to capture pictures at events. 
  • Search operations: The thermal cameras in drones can also be used to locate missing persons or find dangers in the path ahead. 
  • Agriculture: They help survey the crops, spray fertilisers and pesticides over the fields. 
  • Last-mile Delivery: Drones can be used in the delivery of packages to customers quickly and easily, especially in regions that are hard to reach. 
  • Wildlife tracking: It can be used to keep track of wildlife populations. 

Benefits of Investing in Top Drone Stocks in India

  • Growth Potential: Investing in India’s top drone stocks allows you to benefit from the industry’s rapid expansion across various sectors, from agriculture to defence.
  • Adoption of Drone Technology: With drones becoming integral to many industries for tasks like surveillance and deliveries, investing in leading drone stocks offers a chance to capitalise on this trend.
  • Cost-efficient: Drones offer significant cost savings and efficiency improvements for businesses, making investments in top drone stocks potentially profitable as companies gain profitability.
  • Technological Advancements: The drone sector’s continuous innovation offers investors in top drone stocks the opportunity to be part of the cutting-edge developments in technology.

How to Invest in the Top Drone Stocks in India?

Investing in the top drone stocks in India involves a strategic approach, given the burgeoning role of drones in various sectors such as agriculture, defence, and logistics. Here’s how to navigate investments in this emerging field:

1. Identify promising companies

Start by identifying companies that are leaders in the drone industry or have integrated drone technology into their operations significantly. Look for businesses involved in manufacturing, software development for drones, or providing drone-based services. Top drone stocks in India often belong to companies pioneering these innovations.

2. Conduct thorough research

Analyse the fundamentals of these companies, including financial health, market position, and growth potential. Consider the company’s revenue streams, profit margins, R&D investments, and any strategic partnerships that could enhance its market position. Reviewing financial statements and market analysis reports can provide insights into the stability and growth prospects of these stocks.

3. Evaluate market and regulatory environment

Understanding the regulatory environment is crucial as it can significantly impact drone operations. Look for companies that are well-prepared to navigate or benefit from current and future regulations. Additionally, evaluate the market demand for drone applications within India, focusing on sectors with high growth potential like commercial delivery, surveying, and surveillance.

4. Technology and innovation

Invest in companies that invest heavily in technology and innovation. Those that develop proprietary technologies or hold patents may have a competitive advantage in the drone market. Innovations in battery life, navigation systems, and payload capacities are particularly crucial.

5. Diversification

Diversify your investments across several drone companies and related sectors to mitigate risk. Consider a mix of established aerospace and defence firms along with newer tech startups specialising in drone technology to balance the potential risks and rewards.

6. Monitor industry trends

Stay updated on industry trends and advancements in drone technology globally and in India. Technological breakthroughs, changes in consumer behaviour, and new commercial applications can affect the viability and success of drone companies.

7. Long-term investment perspective

Maintain a long-term perspective when investing in drone stocks. The industry is still in its early stages of development, and companies may require time to capitalise fully on their market potential. Patience is essential as these technologies evolve and find broader market acceptance.

Given the complexities and rapid evolution of the drone industry, seeking advice from financial advisors or investment professionals who have expertise in technology and emerging markets can be invaluable.

Factors to Check While Investing in Drone Company Stocks in India

Though the drone industry seems promising, there are certain things you, as an investor, need to check before investing in them. 

  • Regulations – Though the Government of India approved the usage of drones in a few sectors, you need to understand the associated regulations that can impact the industry. 
  • Market potential – Check the market size for this new sector to see if there is any growth potential. 
  • Competition – Given the popularity, several large companies and startups are investing in the drone business. Check out the competition. 
  • Financial health – While investing in stocks, it is not just the sector that you need to check but also the company. Review the company’s financial health with factors like profitability, revenue, debt, and cash flow. Use Tickertape Scorecard to analyse the company’s growth, performance, red flags, and more. 


Though drone industry stocks are gaining popularity now, you need to consider your investment objectives and risk appetite before investing. Do thorough research not just about the industry but also about the company. Happy Investing. 


How big is the drone industry in India?

By 2025, the global drone market is expected to touch USD 54 bn, and in India it is expected to be of USD 4.2 bn, and projected to reach USD 23 bn by 2030.

How to invest in drone stocks in India?

Once you have found the right drone stock to invest in, visit Tickertape and search for the company. You can get all the details about the company on Tickertape Asset Pages. Review the stock details, and you can complete the purchase on Tickertape itself. Use Tickertape Portfolio to find the performance of the stock quickly and easily.  

What are the drone stocks in NSE?

The drone sector stocks listed in NSE are as follows, 

– RattanIndia Enterprises

– Zen Technologies

– Paras Defence & Space Technologies

– DCM Shriram Industries

– Drone Destination Ltd

– Droneacharya Aerial Innovations Ltd

Note: The drone stocks in NSE listed here are as of 12th December 2023. These are sorted according to their market capitalisation

Are there any drone penny stocks available in India, and how can I find them?

Drone penny stocks in India might be a bit harder to identify as the drone sector is still emerging. However, smaller startups or lesser-known companies involved in specific niches like drone cameras or drone services could be classified under this category. Investors should look at the Bombay Stock Exchange (BSE) or National Stock Exchange (NSE) for newly listed small-cap companies that are involved in drone technology. 

Which company is a notable drone maker in India?

India’s drone industry is burgeoning with several companies making significant strides in drone manufacturing. Firms like Zen Technologies, Hindustan Aeronautics, Info Edge, and mor are leading the charge, catering to various sectors, including defence, agriculture, and industrial surveillance. These companies focus on drone production and emphasise innovation and customisation to meet specific client needs. Their presence in the market underscores India’s growing capability and influence in the global drone technology landscape, reflecting a vibrant ecosystem of drone technology development and application across the country.

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