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ideaForge Technology’s Q2 and H1 FY'26 earnings call highlighted a rebounding UAV sector, particularly in defense. Q2 consolidated revenue was ₹40.8 Cr (vs ₹37.1 Cr YoY), with gross margins improving to 50%. The order book reached ~₹238 Cr by October 28, heavily skewed towards defense emergency procurements, with most orders executable within 12 months.
Management noted defense reforms boosting domestic demand. A new US joint venture aims to leverage existing solutions for global expansion. R&D focuses on new platforms, AI for autonomous and EW-resilient drones, and multi-UAV autonomy. The geospatial market, utilizing advanced mapping tech like Q6 V2 Geo, holds significant growth potential, with the company aiming for a ₹100 Cr business in 2-3 years. Management expressed confidence in the UAV industry's exponential growth.