The shares of an Aerospace & Defence company specializing in the business of manufacturing Unmanned Aircraft Systems (UAS) jumped upto 5 percent upon investing approximately Rs.15.96 crores in Vantage Robotics, Inc.
Price action
With a market capitalization of Rs. 1,766.15 crores on Thursday, the shares of Ideaforge Technology Limited jumped upto 4.8 percent making a high of Rs. 410.35 per share compared to its previous closing price of Rs. 390.40 per share.
What Happened
Ideaforge Technology Limited, engaged in the business of manufacturing Unmanned Aircraft Systems (UAS) has invested in a US-based privately-held company, Vantage Robotics, Inc for USD 1.832 Million (approximately Rs. 15.96 Crores) on February 19, 2025, via Compulsorily Convertible Promissory Note.
This is a minority investment by the company, not an acquisition. Vantage Robotics is an Unmanned and Robotic Aircraft manufacturing company, founded in 2013, that specializes in UAV and UAV components, with strong R&D capabilities.
About the Company
IdeaForge Technology Ltd is a leading provider of unmanned aerial vehicle (UAV) solutions, specializing in drone technology and its applications across defense, infrastructure, and industrial sectors. The company focuses on innovation, with expertise in designing and manufacturing drones for various commercial and defense purposes.
Revenue Mix (Q3FY25)
The company’s revenue is derived from two categories: Defense which contributed 95 percent of the overall revenue, and Civil which contributed 5 percent of the overall revenue.
Business Updates (Q3 FY25)
Ideaforge moved up to 3rd rank from 5th among dual-use drone manufacturers in DII’s Global Drone Review 2024 and their SWITCH MINI UAV became the first small UAV certified as “Fit for Indian Military Use” by DGQA. The company also participated in Operation DRONAGIRI as an official data provider under India’s National Geospatial Policy and deployed drones for coastal management across 7 districts in Maharashtra.
Financials
The company’s total revenue fell by 76 percent from Rs. 97.51 crores to Rs. 22.5 crores in Q3FY24-25. Meanwhile, Net profit from a profit of Rs. 14.8 crores to a loss of Rs. 24.02 crores during the same period.
Written by Sridhar J
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