ideaForge shares jump 7% as firm swings to profit in Q2, revenue soars 124% YoY

Shares of ideaForge Technology jumped more than 7% on Tuesday after the company reported a sharp turnaround, posting a consolidated net profit of Rs 6.46 crore for the second quarter of FY27, as against a net loss of Rs 19.6 crore in the same period last year.

Sequentially, the company returned to black from a net loss of Rs 2.6 crore reported in the first quarter of FY27. The company's shares rose to Rs 685.90 apiece on NSE on Tuesday morning.

Ideaforge’s revenue from operations more than doubled, surging around 124% year-on-year (YoY) to Rs 91.29 crore in the July-September quarter of FY27, from Rs 40.76 crore reported in the corresponding quarter of the previous financial year.


The company’s EBITDA for the quarter stood at a positive Rs 23.2 crore, with a turnaround from a negative Rs 8 crore in the year-ago period. Its EBITDA margin as a result jumped to 25.4%, from a negative 19.6%. “The timely execution of its order book, despite global supply chain bottlenecks, highlights ideaForge’s ability to scale operations and deliver on customer commitments without compromising on quality,” it said in a press release.

Also read | ideaForge records profit in Q2 as revenue rises 124% to Rs 91 crore

During Q2 FY27, ideaForge completed field testing of the ZOLT Hybrid UAV for long-range ISR capabilities of up to 100 km and six hours of endurance with indigenous EW resilience capabilities and a long-range MWIR payload, the company said, adding that it launched the combat variant of its ZOLT platform.

Another key milestone during the quarter was the signing of an agreement with the Technology Development Board (TDB) for Rs 151 crore in Research, Development and Innovation (RDI) funding to support the development of YETI, ideaForge's indigenous middle-mile logistics UAV platform, the company said, noting that the RDI funding is in the form of a long-term debt facility and a low interest rate.

The all-electric aircraft is designed to carry payloads of up to 200 kg and operate over distances of up to 200 km, depending on the payload at very high altitudes. “YETI represents the company’s efforts to extend autonomous aerial capabilities to complex logistics requirements. The funding supports the development of advanced indigenous technology and highlights the potential of unmanned systems to address emerging requirements across logistics and infrastructure,” it added.

Speaking about the earnings, ideaForge Co-Founder and CEO Ankit Mehta said Q2 FY27 saw continued progress in order book execution, new product development, and preparations to capitalise on upcoming procurement opportunities. “As we enter the second half of FY27, our immediate priority is to sustain the pace of execution while bringing our new platforms closer to commercialisation. The combination of an expanding product portfolio, stronger indigenous technology capabilities, and growing procurement opportunities gives us confidence in the road ahead,” he added.

Mehta further said that the company remains focused on translating these developments into new orders, consistent revenue growth and improved profitability, while strengthening ideaForge's position as a trusted technology partner to India's defence forces and enterprises.

Also read | Marico shares jump 6% as strong Q2 puts growth story in overdrive, sparks bullish calls

ideaForge share price

ideaForge shares have fallen more than 7% in a week and over 9% in a month. The stock is, however, up more than 43% in 2026 so far, even as the broader NIFTY 50 index plunged 10% amid multiple headwinds.

In the longer term, the stock has jumped 38% in one year but fallen 16% in three years.

Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.