India’s drone sector is rapidly expanding, with the market projected to reach $2.5 billion by 2030, fueled by a 20% annual growth rate. Over 100 drone startups operate in India, and the government’s production-linked incentive scheme supports local manufacturing. Drones are transforming agriculture, surveillance, and logistics, making the sector a high-growth opportunity for investors and innovators.
Defence Secretary Rajesh Kumar Singh said the government will soon invite proposals for drone contracts worth Rs 30,000 crore. The proposals for Medium Altitude Long Endurance Drone contracts will soon be invited by the ministry.
Further, the RFP for Made-in-India drones will soon be released as well, adding that drones, UAVs, focus on satellite imagery, and precision ammunition are areas where technology needs to be made available, and that some “off-the-shelf” buying will have to be done where India lacks access to technology.
Additionally, a Request For Proposal (RFP) is a formal procurement document used by organizations to invite detailed bids from vendors for specific projects or services. It ensures transparency, competitive pricing, and allows evaluation of technical and financial capabilities before selection.
Zen Tech’s management indicated in its June quarter earnings call that substantial orders are expected in H2FY26 for anti-drone systems and simulators. This suggests growing demand in defense technology, potentially boosting revenue and strengthening the company’s position in advanced defense solutions domestically and internationally.
Zen Tech’s management expressed strong confidence in securing significant government orders for anti-drone systems under the IDDM category. With robust demand and strategic positioning, the company aims to achieve cumulative revenue exceeding Rs 6,000 crore over FY26–28, highlighting strong growth potential and a solid defense technology pipeline. Following are the Drone stocks that may benefit from proposals for drone contracts worth Rs 30,000 crore;
1. Ideaforge Technology Ltd
With a market capitalization of Rs 2,273.60 crore, the shares were trading at Rs 526.45 per share, increased around 2 percent as compared to the previous closing price.
Ankit Mehta, CEO & Whole-time Director, highlighted that government initiatives, including Rs 40,000 crore for the 6th Emergency Procurement cycle and a Rs 1 lakh crore RDI Fund, are set to boost defense innovation. The upcoming PLI phase for drone manufacturers will further benefit the industry. Strategic efforts are on track, positioning the company to deliver long-term stakeholder value.
IdeaForge’s range of dual-use drone platforms across weight, range, and endurance categories. From micro/nano drones (<2 kg, <5 km, <2 hrs) to high-altitude, long-endurance platforms (>100 kg, >500 km, >48 hrs), the portfolio spans tactical, MALE, HALE, and HAPS segments, highlighting versatility for defence and commercial applications at varying altitudes and mission requirements.
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2. ZEN Technologies Ltd
With a market capitalization of Rs 14,488.44 crore, the shares were trading at Rs 1,604.65 per share, increased around 2 percent as compared to the previous closing price.
In continuation of above management guidance, Mr. Ashok Atluri, Chairman & MD, expressed confidence in achieving the H1FY26 order inflow target of Rs 800 crore. So far, Rs 150 crore has been secured, with the remaining Rs 650 crore expected within the first half. The company also anticipates additional orders under the government’s emergency procurement plan, particularly for anti-drone systems, signaling strong near-term growth potential.
3. Solar Industries India Ltd
With a market capitalization of Rs 1,28,474.61 crore, the shares were trading at Rs 14,197.65 per share, increased around 0.3 percent as compared to the previous closing price.
The company is advancing from Nagastra 1/2/3 to higher-altitude, long-endurance drones, marking its next growth phase. On a Rs 200 crore drone program, management noted strong competition, with Solar participating. It’s too early to compare pricing with foreign systems, but in the earlier Nagastra project, the company was technically qualified and also emerged as the lowest bidder. Moreover, Nagastra drones were used in Operation Sindoor.
Written by Abhishek Singh
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