ideaForge Technology Ltd

Despite the wider loss, the company's revenue from operations increased 79.15% year on year (YoY) to Rs 31.55 crore during the quarter. The company posted a pre-tax loss of Rs 35.93 crore in Q3 FY26, as against a pre-tax loss of Rs 20.28 crore in Q3 FY25. Ideaforge reported a negative EBITDA of Rs 23.91 crore in Q3 FY26, declining from a negative EBITDA of Rs 12.58 crore in Q3 FY25. The EBITDA margin also reduced to - 75.8% in Q2 FY26 from -71.4% a year ago. As of 31st December 2025, the company's order book stood at Rs 440 crore. Ankit Mehta, co-founder and CEO of ideaForge said, 'FY26 has been a defining year for ideaForge so far. We've booked the highest quantum of ordersin our two-decade journey so far this year, with a sizable chunk coming in Q3 alone. Our priority now is crisp execution: we expect to deliver ~40'45% of the open orders in Q4 FY26 and close FY26 with improved gross margins and turn profitable. Drones have become a critical element of counter-insurgency and counter-terrorism operations, and recent global conflicts have reinforced the need for nations to build strong indigenous capabilities. For India, this shift became especially evident post Operation Sindoor, with a clear acceleration in procurement through initiatives such as EP6 and decentralised command-level purchases. The recent reports of a fresh procurement outlay of approximately Rs 20,000 crore signal a strong, multi-year demand tailwind for the domestic drone industry. With indigenously developed platforms, subsystems, and full-stack technology, we are gearing up to meet evolving requirements by expanding beyond ISR and reinforcing leadership in India's drone ecosystem. Further, the reports of PLI 2.0 and R&D incentives for drones also provide positive signs for the industry.' Ideaforge Technology (ideaForge) is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India. Powered by Capital Market - Live

Net Loss of Ideaforge Technology reported to Rs 33.85 crore in the quarter ended December 2025 as against net loss of Rs 24.02 crore during the previous quarter ended December 2024. Sales rose 79.16% to Rs 31.55 crore in the quarter ended December 2025 as against Rs 17.61 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales31.5517.61 79 OPM %-84.06-99.21 - PBDT-24.97-12.81 -95 PBT-35.93-20.28 -77 NP-33.85-24.02 -41 Powered by Capital Market - Live

Ideaforge Technology will hold a meeting of the Board of Directors of the Company on 22 January 2026.Powered by Capital Market - Live

Net Loss of Ideaforge Technology reported to Rs 19.62 crore in the quarter ended September 2025 as against net loss of Rs 13.73 crore during the previous quarter ended September 2024. Sales rose 9.87% to Rs 40.76 crore in the quarter ended September 2025 as against Rs 37.10 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales40.7637.10 10 OPM %-27.67-42.67 - PBDT-8.91-10.77 17 PBT-19.46-18.00 -8 NP-19.62-13.73 -43 Powered by Capital Market - Live

IdeaForge Technology has received an order worth approx. Rs 32 crore (all inclusive) to supply Hybrid UAVs with accessories to Ministry of Defence.Powered by Capital Market - Live

ideaForge Technology has received an order worth approx. Rs 75 crore (all inclusive) to supply AFDS/Tac cal class UAVs with accessories to Ministry of Defence. Powered by Capital Market - Live

Despite the wider loss, the company's revenue from operations increased 9.86% year on year (YoY) to Rs 40.76 crore during the quarter. The company posted a pre-tax loss of Rs 19.46 crore in Q2 FY26, as against a pre-tax loss of Rs 18 crore in Q2 FY25. Ideaforge reported a negative EBITDA of Rs 7.99 crore in Q2 FY26, improving from a negative EBITDA of Rs 9.99 crore in Q2 FY25. The EBITDA margin also improved to -19.6% in Q2 FY26 from -26.9% a year ago. As on 30th September 2025, the company's order book stood at Rs 164 crore. Ankit Mehta, CEO said, 'ideaForge has been built with grit and our perseverance. The consistent investment in innovation of substance has paid off so far in our journey. While H1 of FY 2026 has seen the reemergence of the demand signals after a muted FY 2025 for the Indian drone industry, it is our investment in next-gen platforms, new categories and GPS & comms. resilience that is paying off for us. The Armed Forces' renewed emphasis on resilient UAV procurement and Emergency Procurement Cycle 6 (EP-6) allocations from the MoD continue to be a strong tailwind for the industry and India's defence sector. In Q2, we stayed anchored on preparation and delivery to fulfill our EP-5 order while participating in EP-6 opportunities. The results have already begun to show, and more will trickle down soon. In addition to these immediate procurement initiatives, the introduction of the Defence Procurement Manual (DPM) 2025 is evidence that the government is also bringing in long-term structural changes in the defence procurement that will help advance the mission of 'Raksha Atmanirbharta' (Selfreliance in defence production). On the global front, our efforts to build on the work we have done so far continued in Q2. Our SWITCH and Q6 platforms now carry NATO Stock Numbers (NSN), reemphasising our standing as a credible player in the cutting-edge UAV technology. And our partnership with First Breach Inc. to manufacture and distribute drones in the US through a Joint Venture strengthens our presence in the US.' Ideaforge Technology (ideaForge) is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India. The counter rose 0.96% to Rs 494.75 on the BSE. Powered by Capital Market - Live

Ideaforge Technology will hold a meeting of the Board of Directors of the Company on 28 October 2025.Powered by Capital Market - Live

Ideaforge Technology has allotted 4,669 equity shares under ESOP on 10 October 2025. Post allotment, the paid-up capital of the Company stands increased from Rs. 43,24,49,340/- comprising of 4,32,44,934 equity shares of Rs. 10/- each fully paid-up to Rs. 43,24,96,030/- comprising of 4,32,49,603 equity shares of Rs. 10/- each fully paid- upPowered by Capital Market - Live

The proposed joint venture will be incorporated under the name First Forge Technology Inc., with IF and FB each holding a 50% stake. Both companies will have the right to nominate two directors each to the JV's board. Under the agreement, IF will acquire its 50% stake through license of certain specified intellectual property, technology and know-how. FB will contribute cash for its 50% stake. The new entity will focus on licensing, designing, manufacturing, assembling, marketing, and selling specific ideaForge Technology Inc. unnamed aircraft vehicles (UAVs), leveraging IF's tech and FB's infrastructure and market access. Ideaforge Technology (ideaForge) is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India. The company reported consolidated net loss of Rs 23.56 crore in Q1 FY26 compared with net profit of Rs 1.17 crore in Q1 FY25. Revenue from operations declined 85.2% YoY to Rs 12.78 crore during the quarter. The counter shed 0.46% to Rs 530.60 on the BSE.Powered by Capital Market - Live