ideaForge Technology Ltd, a leading Indian drone manufacturer, has reported a net loss of ₹26 crore for the fourth quarter of FY2024-25, marking a sharp reversal from a net profit of ₹10 crore in the same period last year. The company’s revenue plunged 80% YoY to ₹20 crore, compared to ₹102 crore in Q4 FY24, reflecting a slowdown in the broader drone industry.
Financial Highlights
- Revenue from operations declined 80% YoY to ₹20 crore.
- EBITDA loss stood at ₹17 crore, compared to a profit of ₹20 crore in Q4 FY24.
- Order book at the end of Q4 was ₹13.6 crore, down from ₹20.7 crore in the previous quarter.
- FY25 revenue dropped 48.6% YoY, impacted by delayed government spending.
- Gross margin fell to 33%, compared to 49.9% in FY24.
- EBITDA margin declined to -19.6%, down from 27.4% in FY24.
- PAT margin dropped to -38.6%, compared to 14.4% in FY24.
Industry Slowdown & Strategic Developments
Management attributed the weak performance to sluggish procurement initiatives and the impact of India’s general elections, which slowed down government spending on drone technology. Despite the downturn, ideaForge remains optimistic about its L1 opportunity pipeline, which stood at ₹400 crore at the end of December 2024.
The company is also expanding its global footprint, with increasing momentum in international partnerships. It recently partnered with Resonia (Sterlite Group) to integrate drone and robotics technologies into the energy sector.
Market Reaction
Despite the weak Q4 results, ideaForge shares surged 20% to hit ₹463.20, driven by geopolitical tensions between India and Pakistan, which boosted investor sentiment around defense and surveillance technology stocks.
With a focus on new drone categories, AI-driven analytics, and international expansion, ideaForge aims to strengthen its market position despite near-term challenges.
