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ideaForge reports ₹68.6 Cr Q1 FY27 revenue with positive EBITDA, targets execution of FY27 opening order book by Q3

Posted On : 2026-08-10 22:49:15( TIMEZONE : IST )

ideaForge Technology Limited (the Company), the pioneer and pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market, today announced its audited financial results for the quarter ended June 30, 2026.

The company recorded revenue from operations of ₹68.6 crore during the quarter while executing over 20% of its FY27 opening order book. Global supply chain disruptions and component availability continue to pose challenges since Q4 of FY26; however, the Company remains focused on completing delivery of the opening order book of FY27 by Q3 as per customer timelines. The company also reported a positive EBITDA, marking another quarter of improving financial performance.

The quarter was momentous in the company's growth journey, as its indigenous UAV fleet crossed the landmark of one million customer flights across challenging terrains and conditions, showcasing the performance, reliability, resilience, and autonomy of its UAV platforms. Now an ideaForge drone takes off every two minutes on an average to carry out crucial customer missions.

Reinforcing its technology leadership, ideaForge secured DGCA Type Certification for the Q6 V2 GEO UAV, expanding its addressable opportunities across advanced GIS and enterprise mapping applications for the domestic market.

Further strengthening its growth plans, ideaForge raised ₹500 crore through a Qualified Institutional Placement (QIP) that witnessed a strong response from marquee domestic and international institutional investors. The Company also received a Letter of Intent (LoI) from the Government of India under the Research, Development and Innovation (RDI) Scheme for financial assistance up to ₹151 crore to develop its middle-mile logistics platform YETI, capable of lifting loads up to 200 kilograms and reaching ranges of up to 200 kilometres depending on the load. The capital raise and RDI funding enhance the company's financial capability to support execution of its expanding order pipeline and accelerate new technology and product development initiatives.

Commenting on the results, Mr. Ankit Mehta, Co-Founder and CEO of ideaForge Technology, said, "Q1 FY27 marked a steady start to the year, supported by continued execution and advancement across key strategic developmental programs.

We entered FY27 with an order book of ₹300-plus crore, giving us a stronger starting point than we had a year earlier, and we are working towards fulfilling delivery commitments that are aligned with customers' timelines.

At ideaForge, our strategy has always been to own the consequential technologies that matter the most, while delivering complete solutions to our customers. Our continued progress across resilient communication and navigation, autonomy, edge AI, software platforms, logistics UAVs, and combat drone technologies reinforces this approach and strengthens our ability to address evolving customer requirements across defence and enterprise applications.

Moreover, we have made good progress in our development efforts of combat drone capabilities such as air-launched effects and fuel-hybrid long-endurance capability for ZOLT. We are also actively developing long-range strike platforms, loitering munitions, and other capabilities through in-house and collaborative developments. With these new capabilities and our in-house strength around communication infrastructure for collaborative autonomy (multi-UAV operations under EW environments), we would be targeting to participate in the upcoming large opportunities from Indian defence forces.

On order book visibility for FY27, the higher operational procurement limits for field commanders of Indian Defence Forces under DFPDS 2026 would accelerate procurement activities in Q3 and Q4, and we continue to see regular cycles on the civil side of the business that lean towards Q3 and Q4.

The public reports of large defence procurement of about ₹20,000 crore through the Fast Track Procurement approach have started to see the light of the day, with one opportunity already in the RFP stage and several others in various stages of the approval pipeline."

Shares of Ideaforge Technology Limited was last trading in BSE at Rs. 896.45 as compared to the previous close of Rs. 908.25. The total number of shares traded during the day was 20621 in over 878 trades.

The stock hit an intraday high of Rs. 928.00 and intraday low of 890.00. The net turnover during the day was Rs. 18704715.00.