Ideaforge Technology Limited has informed the Exchange about Transcript
IDEAFORGE · price
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Awaiting price reaction for this filing.
IdeaForge shared results for Q1 FY26 (quarter ended June 30, 2025). Revenue stood at INR 12.78 crores, down sequentially from INR 20.24 crores in Q4 FY25, but gross margin improved sharply to 61.7% (from 35.9%) and EBITDA loss narrowed to INR -15.4 crores (from INR -17.41 crores). The company recently won a INR 137 crore order for mini-UAVs under the government's 5th round of emergency procurement, and the order book stood at ~INR 144.8 crores as of June 30, 2025. Management highlighted a L1 (live bid) pipeline of INR 400 crores expected to convert within this and next fiscal, alongside the imminent 6th round of emergency procurement where the government has allocated INR 40,000 crores (INR 9,000 crores for the Indian Army). The company also discussed progress on new platforms (Q6 V3, SWITCH V2, NETRA 5, ZOLT, YETI), its Drone-as-a-Service and FLYGHT Cloud initiatives, and international expansion in the US, Africa, and Europe.
Positive near-term signal — a sizeable INR 137 crore defence order, improving gross margins, and a strong INR 400 crore pipeline provide revenue visibility. However, the company is still loss-making at the EBITDA level and revenue remains lumpy, so near-term stock reaction will hinge on conversion of pipeline orders and continued government defence spending momentum.