ideaForge Technology Q2 net profit jumps 41% to ₹20 crore on higher revenue

Mumbai-based drone technology company ideaforge Technology Ltd reported a 41.3% year-on-year rise in net profit to ₹19.5 crore for the second quarter of FY26, compared to ₹13.8 crore in the corresponding period last year.Revenue from operations grew 10% year-on-year to ₹40.8 crore, up from ₹37.1 crore in Q2 FY25. EBITDA, however, declined 28.9% to ₹11.3 crore from ₹15.9 crore a year earlier.

The company reported that its gross margin stood at 50.0% in Q2 FY26, compared to 61.7% in the previous quarter. The quarter-on-quarter margin variation was attributed to the product mix delivered during the period. The company noted a consistent inflow of orders from Command Level EP and run-rate businesses, reflecting steady demand.

Also Read: ideaForge CEO Ankit Mehta on scaling India’s drone revolutionDuring the quarter, Ideaforge formed a joint venture through its US subsidiary with First Breach Inc. to manufacture and market select UAVs in the United States. Additionally, its Q6 UAV received a NATO Stock Number (NSN), enabling its inclusion in NATO and allied procurement systems — a key step toward expanding global defence market access.

The company also hosted its first customer engagement event, PRAGYA, where it introduced new offerings, including Q6 V2 Geo, SHODHAM M61, and FLYGHT CLOUD 2.0. Furthermore, Ideaforge UAVs were deployed in multiple states to support disaster response operations during recent calamities.

Shares of ideaForge Technology Ltd ended at ₹490.05, down by ₹6.95, or 1.40%, on the BSE.

Also Read: ideaForge shares react to Q4 net loss, 80% revenue drop from last year