Coromandel International Invests Rs 150 Crore in Drone Manufacturer Dhaksha Unmanned Systems

Coromandel x DUMS
Preeti Bali / 7:05 am / May 14, 2024

Coromandel International Limited, a leading Indian agricultural solutions provider, has announced a significant investment in Dhaksha Unmanned Systems, a Chennai-based drone manufacturing company. Through its wholly-owned subsidiary, Coromandel Technology (CTL), Coromandel will acquire an additional 7% stake in Dhaksha, bringing its total ownership to 58%. This strategic move is accompanied by a Rs 150 crore investment to fuel Dhaksha’s research, expansion, and overall growth trajectory.

Dhaksha Unmanned Systems: A Leading Player in Drone Technology

Founded in 2019 and headquartered in Chennai, Dhaksha has established itself as a prominent player in the Indian drone industry. The company offers a comprehensive range of Unmanned Aerial Systems (UAS) technology solutions catering to diverse sectors like agriculture, defense, surveillance, and various enterprise applications. Dhaksha’s expertise extends beyond manufacturing, encompassing remote pilot training services (RPTO) as well. The company has successfully trained numerous drone pilots, contributing to the development of a skilled workforce in this emerging field.

Building on Momentum: A Strong Order Book and Expansion Plans

Dhaksha has garnered significant traction in recent times, securing a robust order book valued at Rs 265 crore. These orders primarily originate from defense and agricultural input companies, highlighting the versatility of Dhaksha’s technology solutions. To meet this growing demand, the company has recently expanded its production capacity by establishing a state-of-the-art manufacturing facility on the outskirts of Chennai.

Strategic Use of Funds: Fueling Innovation and Growth

The Rs 150 crore investment by Coromandel will provide Dhaksha with the necessary resources to bolster its research and development (R&D) efforts. This focus on innovation will ensure Dhaksha remains at the forefront of drone technology advancements. Additionally, the funds will empower Dhaksha to efficiently service its burgeoning order book and address working capital requirements, paving the way for continued expansion.

Coromandel’s strategic investment in Dhaksha underscores the immense potential of the drone industry in India. This collaboration between a leading agricultural solutions provider and a cutting-edge drone manufacturer is poised to accelerate the adoption of drone technology across various sectors, contributing to agricultural efficiency, enhanced security measures, and innovative enterprise applications.


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