ideaForge Technology shares rally 8% after strong Q4 turnaround, posts Rs 60 crore profit

Shares of ideaForge Technology surged 8.3% to Rs 792 during Tuesday’s trading session after the drone manufacturer reported a sharp turnaround in its Q4FY26 results, posting strong profit growth and a significant rise in revenue.

The company reported a net profit of Rs 60 crore for the quarter, compared with a net loss of Rs 26 crore in the same period last year, marking a clear shift back to profitability. Revenue also saw a sharp sevenfold increase, rising to Rs 141 crore from Rs 20 crore a year earlier.

Order inflows remained robust during the quarter, with ideaForge recording its highest-ever annual order booking in FY26 at approximately Rs 530 crore.


The company also highlighted strong execution momentum, delivering about 40% of its open orders during March despite ongoing global supply chain challenges. These deliveries included electronic warfare (EW)-resilient systems that successfully cleared end-user acceptance testing in demanding operational environments.

On profitability metrics, the company reported a PAT margin of 42.5% in Q4FY26 and an EBITDA of Rs 27 crore for FY26, reflecting improved operational efficiency and margin expansion compared with earlier periods.

Beyond its core intelligence, surveillance, and reconnaissance (ISR) portfolio, ideaForge said it is expanding into next-generation defence systems, including long-range strike drones, loitering munitions, and kamikaze platforms. These are being developed through a mix of in-house R&D and strategic partnerships, aimed at tapping upcoming opportunities in the Indian defence sector.

Commenting on the performance, Co-Founder and CEO Ankit Mehta said FY26 marked a turnaround year for the company. “Q4 has started to crystallise what we set out to build. The continued momentum helped us book our largest quantum of orders for the year, reflecting growing customer trust in our technology,” he said. He added that sustained investments in R&D and a long-term technology-first approach helped the company capitalise on improving demand conditions.

Share Performance and Technical Outlook

Over the past month, the stock has surged nearly 96%, with the current market capitalisation of Rs 3,163 crore. Its 52-week high stands at Rs 794.

From a technical perspective, the 14-day RSI is at 85.5, indicating strongly overbought conditions as readings above 80 typically signal potential for a near-term pullback.

Despite this, the stock remains in a strong uptrend, trading above all 8 key simple moving averages (SMAs), underscoring sustained bullish momentum.

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