Ideaforge Technology Limited — Investor Meet, 28-07-2025: Analysts/Institutional Investor Meet/Con. Call Updates

ideaForge reported Q1 FY26 revenue of INR 12.78 Cr, with gross profit at INR 7.89 Cr (61.7% margin) and negative EBITDA of INR 15.4 Cr. The order book is strong at ~INR 144.8 Cr, bolstered by a INR 137 Cr mini-UAV contract. Management noted increasing government focus on drones for defence, including upcoming emergency procurements. The company's EW-resilient platforms are a key differentiator. Development of new drones like ZOLT and YETI for large market opportunities is on track. The L1 pipeline stands at INR 400 Cr, with conversions expected. The company aims for profitability and improved working capital with new orders. Management is confident about growth driven by strategic product development and government initiatives.