ideaForge’s net loss for the quarter ended December 31, 2025 (Q3 FY26) widened 41% to INR 33.9 Cr from INR 24 Cr loss incurred in the year-ago period
Operating revenue jumped 79% to INR 31.6 Cr from INR 17.6 Cr in the year-ago period. However, the company’s top line declined by 23% from INR 40.8 Cr in Q2
Total expenses zoomed 64% to INR 70.1 Cr from INR 42.8 Cr reported in the same quarter of the previous fiscal
Dronetech company ideaForge’s net loss for the quarter ended December 31, 2025 (Q3 FY26) widened 41% to INR 33.9 Cr from INR 24 Cr loss incurred in the year-ago period. On a sequential basis, the company’s losses magnified 73% from INR 19.6 Cr in the previous quarter. This is the sixth consecutive loss-making quarter for the company.
Operating revenue jumped 79% to INR 31.6 Cr from INR 17.6 Cr in the year-ago period. However, the company’s top line declined by 23% from INR 40.8 Cr in Q2.
Including other income, ideaForge’s total income for the period stood at INR 34.2 Cr.
Meanwhile, total expenses zoomed 64% to INR 70.1 Cr from INR 42.8 Cr reported in the same quarter of the previous fiscal.
Meanwhile, total expenses zoomed 64% to INR 70.1 Cr from INR 42.8 Cr reported in the same quarter of the previous fiscal.
During the quarter under review, IdeaForge also incurred an exceptional item loss of INR 3.5 Cr on account of the gratuity liability arising out of changes introduced by the central government to Labour Codes.
EBITDA loss for the quarter zoomed almost tripled YoY to INR 23.9 Cr. The company said that its gross profit for the period under review stood at INR 7.4 Cr, largely flat compared to previous year’s INR 8 Cr. It declined 63% from the previous quarter’s INR 20.3 Cr.
Despite this, cofounder and CEO Ankit Mehta said FY26 was a “defining year” for the company. In the quarter under review, the company said it added INR 102 Cr via “large opportunities” and INR 115 Cr via multiple orders. The company claims that, with India’s largest operational deployment of indigenous UAVs, an ideaForge drone takes off every 3 minutes, enabling over 8.5 Lakh successful flights.
“We’ve booked the highest quantum of orders in our two-decade journey so far this year, with a sizable chunk coming in Q3 alone. Our priority now is crisp execution: we expect to deliver ~40–45% of the open orders in Q4 FY26 and close FY26 with improved gross margins and turn profitable,” he noted.
Defence accounts 12% of the revenue for ideaForge, with remaining still coming from civil orders. Pertinent to note that the Indian Army used the company’s Switch and Netra platforms during the India-Pakistan escalation that happened early last year.
In Q3, the company claims that its total customer flights crossed more than 8.5 Lakh mark, with 1.5 Lakh happening in 9M FY26 alone. In the period under review, the company also enhanced its US market presence with a JV with US based First Breach Inc.
Shares of ideaForge rose 1.55% to INR 430.15 on BSE today.
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