Results · Mobility & Logistics

ideaForge posts Q4 profit, revenue jumps sixfold

What they do

IdeaForge makes drones, software, and services for defence and civil use

Q4 FY26 net profit was Rs 59.9 Cr versus a loss a year earlier, with revenue up 6X

The company plans combat drones and has its first US police order

ideaForge returned to a net profit of Rs 59.9 Cr in Q4 FY26, against a loss of Rs 25.7 Cr in the same quarter last year.
Quarterly operating revenue hit Rs 141 Cr, up 6X year-on-year, its highest ever quarterly figure.
Total expenses in Q4 rose 84% year-on-year to Rs 92.8 Cr.
For full-year FY26, revenue from operations grew to Rs 226.13 Cr from Rs 161.22 Cr in FY25.
FY26 gross profit was Rs 131.16 Cr, with a margin of 58%, up from 33% a year earlier.
FY26 EBITDA turned positive at Rs 27.12 Cr versus a loss of Rs 31.53 Cr in FY25, a margin of 12%.
The company's FY26 net loss narrowed 73% to Rs 17 Cr.
Management attributed the turnaround to stronger execution, better demand, and order backlog execution.

The company's order book stood at Rs 314.2 Cr by March 2026, with order inflows of Rs 530 Cr in FY26.
Defence contributed 69% of FY26 revenue, and 86% in Q4, showing heavy reliance on government contracts.
The company expanded into combat drone systems during Q4, a strategic move as global battlefield drone use grows.
ideaForge secured its first US order from Lamar Police Department after entering the US market last year.
Training NATO forces also brought in revenue during the year.

ideaForge designs and manufactures drones, along with software and services.
Its products serve both defence and civil customers, with defence being the main revenue source.
The company operates in India and has expanded to the US, Japan, and NATO markets.
In FY26, drones completed 250,000 end-customer flights, representing 26% of all flights since 2007.
The company's revenue mix in FY26 was 69% defence and 31% civil.
ideaForge's total assets grew to Rs 798.7 Cr by March 2026, from Rs 671.8 Cr earlier.
The company's equity stood at Rs 599 Cr at the end of FY26.

The company plans to foray into combat drones as battlefield drone usage expands globally.
It signed an MoU with Digital Media Professionals Inc to expand in Japan and develop next-generation AI drones.
It will continue to execute its order backlog and target new markets like the US.