Synopsis:
IdeaForge’s subsidiary has partnered with First Breach Inc. to form a 50:50 joint venture for manufacturing and distributing UAVs in the U.S
The shares of Defence Company, specializing in the design, manufacturing, and sale of unmanned aircraft systems (UAS) and drones, jumped upto 4 percent upon signing a joint venture agreement with US-based First Breach Inc for designing, manufacturing, and selling specific IdeaForge UAVs in the United States.
With a market capitalization of Rs. 2,331.94 Crores on Wednesday, the shares of Ideaforge Technology Ltd jumped upto 3.6 percent, making a high of Rs. 552.55 compared to its previous closing price of Rs. 533.05.
What Happened
Ideaforge Technology Ltd, engaged in the design, manufacturing, and sale of unmanned aircraft systems (UAS) and drones, has informed that its wholly owned subsidiary, IdeaForge Technology Inc. (IF), has entered into a joint venture agreement (JVA) with First Breach Inc. (FB), a Delaware-based company.
The JV, named First Forge Technology Inc., will focus on licensing, designing, engineering, manufacturing, and distributing specific IdeaForge UAVs in the United States of America, leveraging IF’s technology and FB’s market infrastructure.
Both parties will hold equal 50% stakes in the JV, with rights to appoint directors and decisions requiring mutual consent for critical actions. The JV formation is subject to due diligence and regulatory approvals, with completion expected by the end of FY26.
IdeaForge will contribute specified intellectual property and technology in exchange for its stake, while First Breach Inc. will invest cash. The JV aims to expand ideaForge’s presence in the U.S. drone market through collaboration with FB.
Financials & Others
The company’s revenue declined by 85 percent from Rs. 86 crore to Rs. 13 crore in Q1FY25-26. Meanwhile, the Net profit from a profit of Rs. 1 crore turned to a loss of Rs. 24 crores during the same period.
In Q1 FY26, ideaForge’s revenue was evenly split between Defence and Civil sectors, with Defence contributing 49 percent and Civil accounting for 51 percent of the total revenue.
As of 30 June 2025, ideaForge’s order book position stood at Rs. 144.8 crore, showing a steady increase from Rs. 21.5 crore on 30 September 2024, Rs. 20.7 crore on 31 December 2024, and Rs. 13.6 crore on 31 March 2025.
IdeaForge Technology Ltd is a leading Indian manufacturer of unmanned aerial vehicles (UAVs), holding a 50% market share, specializing in both civil and defense applications. Established in 2007 and headquartered in Mumbai, the company has pioneered drone innovation in India, becoming the first to locally develop vertical take-off and landing (VTOL) UAVs. ideaForge designs, engineers, and manufactures all its products in-house, ensuring full control over performance, reliability, and autonomy.
The company’s diverse product range features advanced UAVs equipped with long-endurance flight, thermal imaging, AI analytics, and secure communication, and supports missions such as surveillance, mapping, inspection, and emergency response.
IdeaForge has completed over 700,000 total customer flights, including more than 45,000 flights in Q1 FY26 alone. The company holds 89 patents (granted and pending), and on average, an ideaForge drone takes off every three minutes.
Written by Sridhar J
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