Ideaforge Technology Limited — Updates, 28-01-2025: Press Release

ideaForge Technology has reported its financial performance for the quarter and nine months ended December 31, 2024. Revenues for Q3 FY25 stood at INR 176.1 Mn, a decrease from INR 190.9 Mn in the previous year, while nine-month revenues reached INR 1,409.1 Mn. Gross profit for Q3 was INR 81.0 Mn, reflecting a gross profit margin of 46.0%, down from 53.7% YoY. The company recorded a significant EBITDA loss of INR 125.8 Mn and a loss after tax of INR 240.2 Mn.

Strategically, ideaForge has made notable advancements, moving to the 3rd rank in the global dual-use drone manufacturers list by DII. Their SWITCH MINI UAV received certification as “Fit for Indian Military Use,” while the new Q6 V3 has been launched in North America. The company is also participating in Operation DRONAGIRI, enhancing its position in the geospatial data domain. Despite recent challenges due to muted order conversion, the outlook remains positive, reflecting ongoing innovation and expanding market opportunities.