The company reported a net loss of ₹2.3 Cr, down over 90% from the ₹23.5 Cr loss in the previous year quarter
The loss came despite ideaForge’s operating revenue growing multifold by 436% to ₹68.6 Cr in Q1 FY27 from ₹12.8 Cr in the year-ago period
The dronetech major had reported a profit of ₹61 Cr in the previous quarter and a top line of ₹141 Cr
Barely a quarter after reporting profits, dronetech major IdeaForge
once again slipped into the red in the June 2026 quarter (Q1 FY27). The company reported a net loss of ₹2.3 Cr, down over 90% from the ₹23.5 Cr loss in the previous year quarter. In contrast, the drone tech startup had registered a net profit of ₹61 Cr in Q4 FY26.
The loss came despite ideaForge’s operating revenue growing multifold by 436% to ₹68.6 Cr in Q1 FY27 from ₹12.8 Cr in the year-ago period. However, it plunged sequentially by about 51% from ₹141 Cr in the preceding quarter.
Including other income of ₹19.5 Cr, the company’s total income for the period stood at ₹70.5 Cr. Meanwhile, total expenses almost doubled YoY to ₹82.5 Cr.
The company claimed to have reported an EBITDA of ₹4.3 Cr in the quarter under review as against an EBITDA loss of ₹15.1 Cr in the year-ago quarter.
Operationally, the quarter marked several key milestones for ideaForge as its indigenous UAV fleet crossed 1 Mn customer flights across varied and challenging operating conditions. The company said an ideaForge drone now takes off every two minutes on average for customer missions.
The company also secured DGCA Type Certification for its Q6 V2 GEO UAV, expanding its addressable market across GIS and enterprise mapping applications in India.
To support its growth plans, ideaForge raised ₹500 Cr through a Qualified Institutional Placement (QIP), which saw participation from domestic and international institutional investors.
The company also received a Letter of Intent (LoI) from the government under the Research, Development and Innovation (RDI) Scheme for financial assistance of up to ₹151 Cr to develop YETI, its middle-mile logistics platform.
ideaForge’s drone YETI is being developed to carry payloads of up to 200 kg over distances of up to 200 km, depending on the load. The company said the QIP proceeds and potential RDI funding will strengthen its ability to execute its order pipeline and invest in new products and technologies.
ideaForge entered FY27 with an order book of more than ₹300 Cr.
“On order book visibility for FY27, the higher operational procurement limits for field commanders of Indian Defence Forces under DFPDS 2026 would accelerate procurement activities in Q3 and Q4, and we continue to see regular cycles on the civil side of the business that lean towards Q3 and Q4,” cofounder and CEO Ankit Mehta said.
Shares of ideaForge ended today’s trading session 1.3% lower at ₹896.45.
Source: Inc42 - Startups
