AITMC Ventures (AVPL International)
Drone-training and drone-as-a-service company with SEBI approval for a ₹200 Cr IPO; ₹106 Cr FY26 revenue and a ₹48 quote.
Market cap
₹430.82 Cr
8.98 Cr shares
P/E ratio
30.38
Sector average 45
Book value
₹7.35
P/B 6.53
1-year return
+0.00%
52w ₹48 – ₹48
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹48 → ₹48
52-week band in this window: ₹48.00 – ₹48.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- 70+ DGCA-approved drone training centres across 16 states.
- Revenue ₹40.9 Cr (FY24) → ₹84.5 Cr (FY25) → ~₹106 Cr (FY26); PAT ₹14.2 Cr.
- SEBI approval for a ₹200 Cr IPO; dealer quote ₹48 on a ₹2 face value.
About AITMC / AVPL
AITMC Ventures Ltd, branded AVPL International, was incorporated in Gurugram in December 2016 by Preet Sandhuu. It runs more than 70 DGCA-approved remote-pilot training centres across 16 states, manufactures and sells agricultural drones, provides drone-as-a-service for spraying and mapping, and delivers skilling programmes for government and corporate clients.
Revenue from operations rose from ₹40.9 Cr in FY24 to ₹84.5 Cr in FY25, with net profit up from ₹8.8 Cr to ₹14 Cr; FY26 revenue grew a further 26% to roughly ₹106 Cr while profit stayed flat at ₹14.2 Cr. The company has 8.98 Cr shares of ₹2 face value.
After withdrawing an earlier NSE Emerge attempt, AVPL pre-filed confidentially with SEBI on 6 October 2025 for a ₹200 Cr main-board IPO on NSE and BSE with Khandwala Securities as lead manager; SEBI's observations came on 30 January 2026 and are valid for 18 months, but the updated DRHP and dates are still awaited. wwipl.com quotes ₹48 (market value ~₹431 Cr, about 30x FY26 earnings); other dealers show ₹43–58 over the past year.
Figures preliminary; verify from MCA filings. Balance-sheet and cash-flow lines are estimates around the disclosed revenue and profit.
Where the revenue comes from
- Drone pilot training and skilling45%
RPTO centres and government/corporate skilling contracts
- Drone sales30%
Agricultural and surveillance drones
- Drone-as-a-service and agri solutions25%
Spraying, mapping and farm-advisory services
Products & services
RPTO drone training
DGCA-certified remote-pilot courses and skilling programmes
Agricultural drones
Spraying and survey drones sold to farmers, FPOs and institutions
Drone-as-a-service
Spraying, mapping and precision-agriculture services
What works
- • Revenue more than doubled over two years to ~₹106 Cr with consistent profits.
- • First-mover network of 70+ drone training centres benefiting from Drone Shakti, Namo Drone Didi and agri-drone subsidies.
- • SEBI approval in hand for a ₹200 Cr main-board IPO — a visible liquidity event.
What to watch
- • FY26 profit was flat despite 26% revenue growth, pointing to margin pressure.
- • Heavy reliance on government skilling schemes and subsidies; policy changes can hit demand quickly.
- • An earlier SME IPO attempt was withdrawn; the current approval lapses if papers are not updated within 18 months.
- • Pre-IPO buyers face a six-month post-listing lock-in, and dealer quotes have ranged ₹43–58.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| AITMC / AVPLThis page | ₹48.00 | ₹430.82 Cr | 30.38 | 6.53 | +61.45% |
| Garuda Aerospace | ₹448.00 | ₹2,106 Cr | 350.00 | 8.77 | +77.28% |
Latest reported year: FY26 ending 31 Mar 2026.