IDEAFORGE TECHNO LTD

Manufactures unmanned aerial vehicles (UAVs) and drone systems for Indian and international defence and security customers, with tactical UAV platforms such as the ZOLT and electronic-warfare-resilient systems. FY26 revenue was INR 226.129 crores with an 11.99% EBITDA margin; Q4 FY26 alone delivered INR 141 crores in revenue at a 52.6% EBITDA margin and INR 60 crores in profit, marking a return to profitability after an INR 251.56 million cash loss the prior year. The product roadmap is expanding into combat drones — loitering munitions, kamikaze and long-range strike — through in-house development and partnerships, and a heavy-lift long-range autonomous logistics drone called YETI, for which a Technology Development Board LOI for up to INR 151 crores at 4 percent simple interest has been received against a total project cost of INR 302 crores. Materials are the biggest cost at 47.3% of revenue, followed by employee costs at 25.9% and depreciation at 19.0%. International traction includes a first US order from the Lamar Police Department (Texas), NATO forces training and a Japan MOU with Digital Media Professionals.