During Monday’s trading session, shares of a pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market hit a 10 percent upper circuit on the stock exchanges, after securing an order worth Rs. 137 crores from the Ministry of Defence.
With a market cap of Rs. 2,727 crores, the shares of Ideaforge Technology Limited hit a 10 percent upper circuit at Rs. 631.65 on BSE, as against its previous closing price of Rs. 574.25. The stock has delivered negative returns of around 23 percent in one year, but has gained by over 19 percent in the last one month.
What’s the News
According to recent regulatory filings with the stock exchanges, Ideaforge Technology Limited has received an order worth nearly Rs. 137 crores from the Ministry of Defence for the supply of Mini UAVs with accessories to be delivered within 12 months.
Financials & more
Ideaforge Tech reported a decline in its revenue from operations, showing a year-on-year fall of around 80 percent from Rs. 102 crores in Q4 FY24 to Rs. 20 crores in Q4 FY25. Similarly, its net profit decreased during the same period from a profit of Rs. 10 crore to a loss of Rs. 26 crores.
As of March 2025, the company’s order book had declined to Rs. 13.6 crores. This marks a steady drop from Rs. 20.7 crores in December 2024, Rs. 21.5 crores in September 2024, and a significantly higher Rs. 54.2 crores in June 2024.
IdeaForge Technology Limited is primarily engaged in the business of manufacturing and marketing of Unmanned Aerial Vehicle (UAV) systems, which are used for security and surveillance. The ancillary business of providing training and maintenance service evolve around the main business of manufacturing and marketing of UAV systems.
Written by Shivani Singh
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