Shares of a prominent drone manufacturing company surged 8 percent after Blue Diamond Properties Private Limited purchased shares worth Rs.34.80 crores. The transaction has drawn significant attention as the shares were sold by prominent funds, further adding to the market’s optimism. This move highlights increased investor confidence in the company, reflecting its strong growth prospects in the burgeoning drone manufacturing sector.
Price Variation
During Monday’s trading session, shares of Ideaforge Technology Ltd reached an intra-day high of Rs.374.70 each, rising 8.21 percent from the previous closing price of Rs.346.25 per share. However, the shares have retreated since then and are currently trading at Rs.364.95 apiece.
Deal Specifications
On March 28, 2025, Blue Diamond Properties Private Limited executed a substantial bulk purchase of 1,009,221 shares of Ideaforge Technology Ltd at Rs.344.95 each on the NSE. This high-volume transaction caught the market’s attention, signaling a notable move by the company in the stock.
In a related transaction on the same day, Florintree Enterprise LLP conducted a block sale of an identical number of shares, 1,009,221, at Rs.344.95 each on the NSE. The parallel nature of these trades indicates a possible strategic shift in Ideaforge Technology Ltd’s ownership structure.
Additionally, on March 27, 2025, Motilal Oswal Mutual Fund made a bulk sale of 310,035 shares of Ideaforge Technology Ltd at Rs.344.39 per share on the NSE. The timing of these transactions, along with the involvement of prominent funds and entities, has drawn significant interest from market participants, reflecting the dynamic movements in the stock.
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Orderbook and Strategic Initiatives
As of December 2024, the company’s order book stands at Rs. 20.7 crores, reflecting strong demand and growth. A significant milestone was achieved with the certification of the SWITCH MINI UAV, which became the first and only small UAV to be certified as “Fit for Indian Military Use” by the Directorate General of Quality Assurance (DGQA), marking a major achievement for the company in the defense sector.
In addition, the company has successfully deployed drones as part of a coastal management solution across seven coastal districts in Maharashtra. Furthermore, the company launched the Q6 V3 UAV in the North American market, specifically designed for homeland security customers.
Financial Overview
In its recent financial update, Ideaforge Technology Ltd reported consolidated revenue of Rs.18 crores for Q3 FY25, reflecting an 80 percent decrease compared to Rs.91 crores in Q3 FY24. Additionally, the company reported a net loss of Rs.24 crores in Q3 FY25, from net profit of Rs.15 crores posted during the same period last year.
Ratio Analysis
The company has a Return on Capital Employed (ROCE) of 2.92 percent and a Return on Equity (ROE) of 1.93 percent. Furthermore, the company maintains a current ratio of 15.95, a debt-to-equity ratio of 0.02, and an EV to Sales of 5.44.
Written by – Siddesh S Raskar
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