ideaForge reports its Strongest Quarterly performance in Q4 with INR 141 Cr revenue and INR 60 Cr PAT, with the highest-ever annual order bookings of ~INR 530 Cr in FY26, signalling a strong FY27 outlook
Mumbai, May 1 ideaForge Technology Limited (the Company), the pioneer and pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market, has announced its audited financial results for the quarter and year ended March 31, 2026.
The order booking momentum continued in Q4 as well, with the Company recording its highest-ever order booking in a year in FY26, with total orders inflow of ~INR 530 Crore.
In March, when the world was grappling with supply-chain challenges, ideaForge executed 40% of its open orders as indicated in Q3, demonstrating resilience built through deep engineering, supply-chain ecosystem, and operational capability. This included deliveries of electronic warfare (EW) resilient systems after extensive acceptance testing by end-users in an EW environment.
The Company not only executed the large quantum of orders, but also turned towards the path to profitability, registering PAT of INR 60 Crore (42.5%) in Q4 and EBITDA of INR 27 Crore (12.0%) in FY26, with overall improved margins, as indicated in Q3 FY26.
On the development side, the Company indicated that it is expanding beyond ISR and is actively developing combat drones like long-range strike platforms, loitering munitions, and kamikaze through in-house development and strategic partnerships to participate in and capture upcoming large opportunities by the Indian defence forces.
The quarter proved important with regard to ideaForge’s international footprint, as it received its first purchase order in the United States from Lamar Consolidated Independent School District Police Department for deployment of its drones to ensure student safety across a school district in Texas. Further, ideaForge became the first Indian drone Company to train NATO forces at the U.S. National Test Pilot School, showcasing the Company’s deep-tech defense capabilities on the global stage. The Company also demonstrated its products in action to the US DoD in extreme cold weather conditions in Alaska. With these demonstrations, now ideaForge’s products have not just flown in some of the highest altitudes in the world but also near both the North and South Poles.
Also, the Company has signed a strategic MoU with Digital Media Professionals Inc. (DMP) to expand its business in Japan and develop next-generation AI drones, marking a major step forward for India’s deep-tech global expansion.
ideaForge’s deployed fleet completed over 2,50,000+ end-customer flights in FY26 and over 950,000 cumulative flights, reflecting the scale of deployment, growing customer confidence, and reliance on its technology, products, and the compounding value of operational experience. The Company’s non-defense business witnessed strong momentum, bringing multiple enterprise solutions to a varied customer base. Its UAVs are being deployed across public safety, security and governance, emergency response, natural resource monitoring, and infrastructure surveillance.
Commenting on the results, Mr. Ankit Mehta, Co- Founder and CEO of ideaForge Technology, said, “FY26 has been a turnaround year for ideaForge, and Q4 has started to crystallize what we set out to build.
The continued momentum helped us to book our largest quantum of orders for the year. This is a testament to the deepening trust our customers place in our technology. While the improved demand was driven by market conditions, our long-term investments in deep R&D and our persistent philosophy of prioritizing technology development over short-term trends have helped us capitalize on the opportunity.
Our order execution in Q4 was in line with what we indicated in the last quarter, achieving our highest quarterly revenue ever, despite the major supply chain crisis owing to the recent geopolitical events. This achievement underscores the right sizing and resilience we have built across the value chain, from engineering to supply chain to manufacturing.
Deliveries of our EW resilient systems after extensive end-user testing marked a clear shift from being a developmental and demonstrable feature to a deployed and inducted capability.
Q4 & FY26 also mark a turnaround towards profitable growth – as indicated earlier, we closed Q4 with positive PAT and FY26 with positive EBITDA and have demonstrated that scale and financial discipline can go hand in hand.
Drones are increasingly playing a vital role in offensive operations, and we are actively developing combat drones for long-range attack, loitering munitions, kamikaze, etc., and are prepared to participate in the upcoming wave of opportunities.
With a full-stack indigenous and secure technology platform, large-scale deployment, and deep customer trust, we enter FY27 with a focus and commitment to create long-term value for all our stakeholders.”
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