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AI-powered plain-English analysis of every important corporate announcement — financial results, order wins, dividends, mergers and more. Updated live.

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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Ideaforge Technology Ltd

ideaForge Q4 FY26: INR 141 Cr revenue, INR 60 Cr PAT, INR 530 Cr order inflow

RESULTS ▲ Positive Development MEDIUM RISK
📅 Filed on BSE: 30 Apr 2026, 08:26 PM IST  ·  BSE ID: f7f74da8-1ca1-4e69-96cb-210b56476941
View Original BSE Filing (PDF)
💡
In Simple Terms
ideaForge just reported record quarterly profit of INR 60 Crore and annual orders worth INR 530 Crore, marking its turnaround to profitability.
🤖 AI Summary
  • Q4 FY26 revenue INR 141 Cr and PAT INR 60 Cr — company's strongest quarterly performance ever
  • Received INR 530 Cr orders in FY26 — highest-ever annual order bookings from defence and civil customers
  • Executed 40% of open order book in Q4 with delivery of electronic warfare resilient systems after acceptance testing
  • Entered combat drones segment — developing long-range strike platforms, loitering munitions, kamizaze for Indian Armed Forces procurement
  • First international order from Lamar Consolidated Independent School District Police Department, Texas; first Indian drone firm to train NATO forces
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q4 FY26 Revenue
INR 141 Cr
594.1%
Q4 FY26 Profit After Tax
INR 60 Cr
FY26 Total Order Inflow
INR 530 Cr
FY26 EBITDA
INR 27.1 Cr
FY26 EBITDA Margin
12.0%
+31.6 percentage points
FY26 Gross Profit Margin
58.0%
+25.0 percentage points
FY26 Annual Revenue
INR 226.1 Cr
40.3%
Deployed Fleet End-Customer Flights FY26
2,50,000+
Cumulative Flights All-Time
9,50,000
Q4 FY26 Gross Profit Margin
67.6%
🏢 How This Affects the Company
📈
Business Impact
INR 530 Cr order inflow in FY26 establishes largest annual order pipeline and signals strong revenue visibility for FY27. Entry into combat drone segment opens new high-value procurement opportunities with Indian Armed Forces. First US customer order validates international market readiness.
💰
Financial Impact
Q4 PAT of INR 60 Cr with 42.5% margin and FY26 EBITDA of INR 27 Cr with 12.0% margin represent shift from losses (FY25 PAT loss INR 62.3 Cr) to profitability. Gross margin improved to 58.0% in FY26 from 33.0% in FY25, indicating operational scale efficiency.
⚙️
Operational Impact
Executed 40% of open order book in Q4 despite supply chain disruption from geopolitical events, demonstrating supply chain resilience and manufacturing scale-up. Deployed fleet completed 2,50,000+ end-customer flights in FY26, reflecting operational reliability and customer confidence.
⚠️
Risk Impact
Combat drone development introduces regulatory and export compliance complexity for offensive weapons systems. Heavy dependence on defence procurement cycles and customer concentration risk remains, though diversification into non-defence applications progressing.
👥 What This Means For Shareholders
✅
Action Required
No immediate action required. Monitor Q1 FY27 results filing in July 2026 to confirm sustainability of profitability and order execution pace.
👤
Who Is Affected
All equity shareholders benefit from shift to profitability and expanding order pipeline. No differential impact by shareholding size. Promoter shareholders and venture investors (Qualcomm, Infosys, Celesta Capital, Florintree, EXIM Bank, Infina Finance) realize value creation from turnaround.
🔍
Management Signal
Management prioritised technology development over short-term margins, building supply chain resilience and operational scale. Combat drone expansion signals confidence in defence procurement demand and long-term market opportunities.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Q1 FY27 results filing — confirm if quarterly profitability sustains above INR 30 Cr PAT and revenue exceeds INR 60 Cr
Combat drone procurement announcement — track if Indian Armed Forces issue tenders for long-range strike or loitering munitions systems
International order updates — monitor new purchase orders from US federal agencies or allied nations validating global market traction
MEDIUM RISK Defence procurement concentration, geopolitical supply chain exposure, combat drone regulatory complexity, and FY26 annual losses despite Q4 profitability create execution and sustainability risks.
💡 Investor Takeaway
ideaForge achieved Q4 FY26 revenue of INR 141 Cr with PAT of INR 60 Cr after prior losses, backed by INR 530 Cr FY26 order inflow. Company turned profitable with FY26 EBITDA of INR 27 Cr (12.0% margin) and gross margin of 58.0%, demonstrating operational leverage from accumulated order backlog execution.
⚖️ Strengths & Concerns

✅ Positives

  • Q4 revenue INR 141 Cr with PAT margin of 42.5% and gross margin of 67.6% demonstrates operational scale and profitability achievement after years of losses.
  • FY26 order inflow of INR 530 Cr with 2,50,000+ deployed flights in year confirms customer confidence, market leadership, and recurring revenue sustainability.

⚠️ Concerns

  • FY26 annual PAT negative at INR 17.0 Cr despite Q4 profitability, indicating prior quarters remained unprofitable before Q4 turnaround.
  • Dependence on lumpy defence procurement cycles; large order concentration risk if key customers delay or cancel future procurement tranches.
📅 Company Track Record
ideaForge pioneered India's first VTOL UAVs in 2009. Company transitioned from prior-year loss (FY25 PAT loss INR 62.3 Cr) to FY26 EBITDA profitability of INR 27.1 Cr and Q4 PAT of INR 60 Cr. Ranked 3rd globally among dual-use drone manufacturers by DRONEII 2024. Operations scaled to 9,50,000 cumulative flights and INR 530 Cr FY26 order inflow.

Based on publicly available historical data. For context only.

⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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