IdeaForge Technologies shares surged over 17% to hit a 52-week high of ₹712.65 in Monday's trading session, as reported by Hindustan Times. The stock opened at ₹710 apiece, compared to the previous close of ₹609.20 on Thursday last week. The drone maker's stock has delivered significant returns despite weak market sentiments, with over 29% gains in a week and 78.51% in a month. The stock has also delivered 52.38% returns year-to-date and 86% over a year, outperforming broader markets. According to IIFL, the brokerage firm sees 95% upside potential for the drone-maker, reflecting strong investor confidence in the company's turnaround story.
According to Hindustan Times, the company reported a net profit of ₹60 crore for Q4 FY26, marking a sharp turnaround from a net loss of ₹26 crore in the same period last year. IdeaForge's EBITDA also came in positive at ₹62 crore, compared to an EBITDA loss of ₹22 crore a year ago. The company's quarterly revenue surged sevenfold to ₹141 crore from ₹20 crore last year, with sequential growth of more than four times, reflecting strong execution during the period.
As reported by Hindustan Times, margins improved significantly, supported by a steep reduction in material costs, which declined to 11% of revenue from 67% a year ago and 51% in the previous quarter. By the end of the March quarter, the Defence segment contributed 86% of ideaForge's revenue, while the Civil segment accounted for the remaining 14%. The company received its first purchase order in the United States from the Lamar Consolidated Independent School District Police Department for drone deployment in Texas.
According to Hindustan Times, Ankit Mehta, Co-Founder and CEO of ideaForge Technology, stated that FY26 has been a turnaround year for ideaForge, and Q4 has started to crystallise what we set out to build. He noted that the company achieved its highest quarterly revenue ever despite major supply chain crisis owing to recent geopolitical events. Mehta emphasized that Q4 & FY26 mark a turnaround towards profitable growth, demonstrating that scale and financial discipline can go hand in hand.
