ideaForge Technology Ltd Q2 FY26 Revenue Up 9.9% YoY at ₹407.6 Mn; Order Book Size at ₹2,380 Mn

Mumbai, October 28, 2025: ideaForge Technology Ltd (NSE: IDEAFORGE, BSE: 543932), India’s first and largest unmanned aerial systems (UAS) maker, recorded revenue from operations of ₹407.6 million for September 30, 2025 (Q2 FY26), an increase of 9.9 % year over year from ₹371.0 million in Q2 FY25. The improvement has been largely driven by robust defence orders and consistent inflows under command-level emergency procurements.

IdeaForge Technology Ltd is a manufacturer of unmanned aircraft systems (UAS) based in India, with products destined for both defence and civilian use. It is supported by investors such as Qualcomm, Infosys and Florintree, and in 2024 was ranked 3rd in the world among dual-use drone manufacturers. It has the biggest operational indigenous UAV fleet in India, and helps undertake missions like surveillance and mapping, having made millions of drone flights to date.

Operational & Financial Highlights

The firm’s gross profit surged to ₹203.9 million from ₹91.2 million during the same quarter of the previous year—a 123.7 % increase—which increased its gross profit margin to 50.0% versus 24.6% for Q2 FY24. In spite of that margin increase, the company reported a net loss of ₹196.2 million, widened from a loss of ₹137.3 million in Q2 FY25. The deeper loss is due to continued investment in next-generation UAV platforms and international expansion efforts. In sequence, revenue jumped 218.9% to ₹127.8 million in Q1 FY26, reflecting a sharp pick-up in activity.

Order Book and Business Mix

As of October 28, 2025, ideaForge’s order book stood at ₹2,380 million, rising from ₹1,640 million at the end of September 2025 — a clear indication of strong demand momentum. During the quarter, revenue comprised approximately 63% from the defence segment and 37% from civil sector operations, highlighting the company’s well-diversified customer base.

Strategic Milestones

In the quarter, ideaForge established a joint venture in the United States with First Breach Inc. to produce and sell certain drones for defence and commercial customers outside of the country. The company also declared its flagship Q6 UAV obtained a NATO Stock Number (NSN), opening the door to entry into NATO/Allied procurement systems. Besides, ideaForge organized its first customer outreach event, PRAGYA, and presented innovations like Q6 V2 Geo, SHODHAM M61 and FLYGHT CLOUD 2.0, and its drones in use in disaster-response efforts in various Indian states.

Stock Market Performance

As of 10:15 am IST, ideaForge’s stock price was quoting at ₹492.50, up 0.60% from its previous close. The stock opened at ₹485.50 in Wednesday’s early session, with a 52-week high of around ₹502.00 and a 52-week low of approximately ₹479.95.

REF: https://nsearchives.nseindia.com/corporate/IDEAFORGE_28102025203550_Press_Release_30092025.pdf

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