ideaForge Q2 FY27 Earnings Signal A Fresh Takeoff For The Drone Manufacturer, Company Returns To Profit With ₹6.5 Crore As Revenue Surges 124% To ₹91.3 Crore
Mumbai: ideaForge Technology Limited reported a profit after tax (PAT) of ₹6.5 crore for the quarter ended September 30, 2026 (Q2 FY27), marking a turnaround from a net loss of ₹19.6 crore in the corresponding quarter of the previous financial year.
The Navi Mumbai-based drone manufacturer's revenue increased 123.8 per cent year-on-year to ₹91.3 crore from ₹40.8 crore in Q2 FY26, according to its regulatory filing dated November 2.
City-Based Drone Maker IdeaForge Technology Secures Supply Order Worth ₹100 Crore From Indian ArmyEBITDA Turns Positive In Q2 FY27
ideaForge reported EBITDA of ₹23.2 crore during the September quarter, compared with an EBITDA loss of ₹8 crore in the year-ago period. The EBITDA margin improved to 25.4 per cent from a negative 19.6 per cent in Q2 FY26. Gross profit increased to ₹49.6 crore from ₹20.4 crore, while the gross margin rose to 54.3 per cent from 50 per cent.
Profit Turns Positive Sequentially
On a quarter-on-quarter basis, ideaForge swung to a net profit of ₹6.5 crore from a loss of ₹2.6 crore in Q1 FY27. Revenue increased 33.1 per cent sequentially from ₹68.6 crore. EBITDA rose to ₹23.2 crore from ₹4.3 crore in the preceding quarter.
H1 FY27 Revenue Nearly Triples
For the six months ended September 30, 2026, ideaForge reported revenue of ₹159.9 crore, up 198.9 per cent from ₹53.5 crore in H1 FY26. The company posted a PAT of ₹3.9 crore, compared with a loss of ₹43.2 crore in the corresponding half of the previous financial year. EBITDA also turned positive at ₹27.5 crore against a loss of ₹23.1 crore.
ideaForge Raises ₹500 Crore Via QIP To Expand Drone Technology Business And Fund GrowthCompany Secures ₹151 Crore RDI Funding
During Q2 FY27, ideaForge signed an agreement with the Technology Development Board for ₹151 crore in Research, Development and Innovation funding to support its YETI logistics drone platform. The funding is structured as a long-term debt facility at a low interest rate. The company also completed field testing of its ZOLT Hybrid UAV and launched a combat variant of the platform.
Management Highlights Order Execution
Co-founder and CEO Ankit Mehta said the company executed more than 50 per cent of its FY27 opening order book during the first half. He also highlighted continuing global supply chain constraints and delays in customer approvals for deliveries. The company remains focused on order execution and development of indigenous unmanned aircraft systems.
Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.
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