Drone maker ideaForge soars to profit in Q4; FY26 revenue surges 40% to Rs 226 crore

Drone manufacturer ideaForge Technology reported operating revenue of Rs 141 crore in the fourth quarter of FY26, up from Rs 31.5 crore in the same quarter a year earlier.

Revenue from operations for the full year rose about 40% to Rs 226 crore from Rs 161 crore in the previous year.

The company also reported a profit after tax of Rs 60 crore in Q4, against losses in both Q4 FY25 and Q3 FY26.


In its investor relations presentation, the company said it added Rs 530 crore worth of orders in FY26, its highest-ever annual booking, and executed about 40% of its open order book in Q4.

Ankit Mehta, cofounder and CEO of ideaForge, said FY26 marked a “turnaround towards profitable growth”, with improved scale and cost discipline.

The quarter also saw deliveries of electronic warfare-resilient systems and ideaForge’s first order from the US, signalling early traction in international markets, the company said in a statement.

Combat drones on the anvil

Amid rising defence spending and increasing adoption of drones in military operations, ideaForge is also expanding into combat drone capabilities, including loitering munitions, Kamikaze drones and long-range attack systems.

"While the improved demand was driven by market conditions, our long-term investments in deep R&D and our persistent philosophy of prioritising technology development over short-term trends have helped us capitalize on the opportunity," Mehta said.

Defence continued to dominate the revenue mix, contributing about 86% of Q4 revenue and 69% over all of FY26, with increasing demand from government and military customers.

On Thursday, ideaForge shares were trading at Rs 614 on the NSE at 4:00 pm, 2% higher than in the previous trading session.