Ideaforge Technology Limited — Others, 04-07-2025: Shareholders meeting

ideaForge Technology Limited, a leading Indian UAV manufacturer ranked #3 globally for dual-use drones, reported a challenging FY 2024-25 marked by a 48% revenue decline to INR 1659 Mn and a loss after tax of INR 514 Mn, driven primarily by delayed government spending and procurement slowdowns amid general elections. The company expanded its product portfolio with NETRA V5, SWITCH V2, and unveiled next-gen platforms YETI and ZOLT while receiving “Fit for Indian Military Use” certification for SWITCH UAV. Investments totaled INR 765 Mn in R&D, focusing on autonomy, AI, and tactical UAV capabilities. Despite operating losses, ideaForge maintains strong operational scale, market leadership, and a growing civil revenue mix (41%), alongside efforts to ramp up international presence, notably in North America. The Board proposes revised remuneration for key executives and commission for independent directors. The company continues to prioritize innovation, supply chain resilience, ESG practices, and long-term value creation while preparing for sector growth post-FY 2024-25 headwinds.