AITMC Ventures, the parent company of dronetech startup AVPL International, recorded a marginal 1% increase in net profit to ₹14.2 crore for fiscal year 2026, even as its operating revenue surged 26% driven by expanded drone services and IT equipment sales. Rising operational costs and investment in growth narrowed profit margins and stalled its public listing ambitions.
- FY26 revenue jumped 26.3% to ₹106.8 crore
- Net profit rose modestly to ₹14.2 crore, margin fell to 13.3%
- IPO clearance received but updated papers not yet filed
What happened
In fiscal year 2026, AITMC Ventures’ net profit showed only marginal improvement, increasing by 1% to ₹14.2 crore, despite substantial revenue growth. The dronetech unit AVPL International saw operating revenue climb 26.3% to ₹106.8 crore, thanks to increased sales of drone services and IT products.
However, the company’s total expenditure grew 34.7% to ₹88.3 crore, which outpaced revenue gains, leading to lower profitability. Major cost drivers included purchase of IT equipment and rising employee benefits, while some operational costs fell. EBITDA margins contracted from 34.4% to 27.2% due to these pressures.
Why it matters
AVPL International plays a key role in India's agri-tech drone ecosystem, with over 70 training centers across 16 states and a comprehensive product and service portfolio targeting agricultural applications. Its growth trajectory highlights rising adoption but also reveals margin challenges in scaling drone-based solutions amid competitive and operational cost dynamics.
The startup’s postponed initial public offering creates uncertainty about its near-term capital raising strategy. Although SEBI approved the IPO in January 2026, the lack of updated draft filings signals either market caution or internal readiness issues that investors and stakeholders will closely monitor.
What to watch next
Key developments will hinge on AVPL International’s updated IPO filing and timeline for going public, which could offer crucial capital to fuel expansion and technology investments. Market response to the IPO terms will also be telling amid evolving drone regulations and demand for agri-tech innovation in India.
Operational cost management, especially controlling purchases and employee expenses, will be vital to protect profitability. Additionally, the company’s ability to leverage strategic partnerships or mergers—as previously attempted with a rival—may influence its competitive positioning and growth prospects in the fast-moving drone sector.