ideaForge Technology Limited, India’s leading unmanned aircraft systems (UAS) company, announced its audited financial results for the quarter ended June 30, 2026.
The Company reported revenue from operations of ₹68.6 crore and executed over 20% of its FY27 opening order book. Despite continued global supply chain and component availability challenges, ideaForge remains on track to complete the opening order book by Q3, in line with customer timelines. The Company also reported positive EBITDA.
During the quarter, ideaForge’s indigenous UAV fleet crossed one million customer flights. The Company also received DGCA Type Certification for its Q6 V2 GEO UAV, strengthening its presence in GIS and enterprise mapping applications.
ideaForge raised ₹500 crore through a QIP, backed by strong participation from domestic and global institutional investors. It also received an LoI under the Government’s RDI Scheme for financial assistance of up to ₹151 crore towards developing YETI, its 200-kg middle-mile logistics UAV platform.
Commenting on the results, Mr. Ankit Mehta, Co-Founder and CEO, ideaForge Technology, said, “Q1 FY27 marked a steady start to the year, supported by continued execution and advancement across key strategic developmental programs.
We entered FY27 with an order book of ₹300-plus crore, giving us a stronger starting point than we had a year earlier, and we are working towards fulfilling delivery commitments aligned with customers’ timelines.
At ideaForge, our strategy has always been to own the consequential technologies that matter the most, while delivering complete solutions to our customers. Our continued progress across resilient communication and navigation, autonomy, edge AI, software platforms, logistics UAVs, and combat drone technologies reinforces this approach and strengthens our ability to address evolving customer requirements across defence and enterprise applications.
Moreover, we have made good progress in our development efforts of combat drone capabilities such as air-launched effects and fuel-hybrid long-endurance capability for ZOLT. We are also actively developing long-range strike platforms, loitering munitions, and other capabilities through in-house and collaborative developments. With these new capabilities and our in-house strength around communication infrastructure for collaborative autonomy, including multi-UAV operations under EW environments, we would be targeting upcoming large opportunities from Indian defence forces.
On order book visibility for FY27, the higher operational procurement limits for field commanders of Indian Defence Forces under DFPDS 2026 would accelerate procurement activities in Q3 and Q4, and we continue to see regular cycles on the civil side of the business that lean towards Q3 and Q4.
The public reports of large defence procurement of about ₹20,000 crore through the Fast Track Procurement approach have started to see the light of day, with one opportunity already in the RFP stage and several others in various stages of the approval pipeline.”
