ideaForge Q2 FY26 Results: Revenue at ₹407.6 Mn

ideaForge Technology Limited announced its unaudited financial results for the quarter ended September 30, 2025. The company reported steady revenue growth and significant operational milestones.

Financial Performance Overview

In Q2 FY26, ideaForge posted revenue from operations of ₹407.6 million, up from ₹371 million in the same quarter last year. The company reported a gross profit of ₹203.9 million, reflecting a gross margin of 50%, compared to 24.6% in Q2 FY25. Despite this improvement, the company recorded a loss at both the EBITDA and PAT levels, with EBITDA standing at ₹-79.9 million and a net loss of ₹196.2 million for the quarter.

For the first half of FY26, revenues stood at ₹535.4 million, while gross profit reached ₹282.8 million, translating to a gross margin of 52.8%. The company reported a net loss of ₹431.8 million for H1 FY26, largely due to increased investments in R&D, capacity expansion, and overseas initiatives.

Operational Highlights

ideaForge continued to secure consistent orders from Command Level EP and run-rate businesses, indicating strong demand from defense and enterprise customers. A key highlight of the quarter was the formation of a joint venture through its US subsidiary with First Breach Inc. to manufacture and market select UAVs in the United States.

Additionally, ideaForge’s flagship Q6 UAV received the NATO Stock Number (NSN), enabling its inclusion in NATO and allied procurement systems—a significant step toward international recognition. The company also hosted its first customer engagement event, PRAGYA, where it unveiled products such as Q6 V2 Geo, SHODHAM M61, and FLYGHT CLOUD 2.0.

Deployment and Social Impact

ideaForge’s UAVs were actively deployed in disaster response operations across multiple Indian states, showcasing the real-world utility and reliability of its technology in emergency situations.

Ideaforge Share Price Performance

On October 29, 2025, Ideaforge share price (NSE: IDEAFORGE) opened at ₹485.50, down from its previous close of ₹489.55. At 9:38 AM, the share price of Ideaforge was trading at ₹498.60, up by 1.85% on the NSE.

Also Read: IdeaForge Joins Forces With US Firm First Breach to Enter American Drone Market!

Conclusion

While the company reported a quarterly loss, ideaForge’s growing global presence, order pipeline, and continued innovation position it for long-term growth. The joint venture in the US and inclusion in NATO systems mark crucial milestones in its journey.

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