ideaForge Technology shares slide as Q1 profit plummets nearly 94%

ideaForge is a leading Indian unmanned aircraft systems (UAS) manufacturer, supported by investors like Qualcomm, Infosys, and EXIM Bank.

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26 Aug, 2025 12:21

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Shares of ideaForge Technology fell nearly 10 percent to an intraday low of Rs 740 on July 30, after the company reported weak earnings for the quarter ended June. The weak performance was due to a 321 percent YoY rise in raw material costs, reaching Rs 56.1 crore, indicative of the business development initiatives taken by the company.

In Q1 FY25, ideaForge outlined key developments including prototyping a fog penetration radar with GalaxEye, expanding drone-as-a-service (DaaS) and middle-mile logistics with TechEagle. The company also completed high-altitude trials in the Himalayas and is advancing its NETRA and SWITCH platforms.

At 11.08 AM, ideaForge's shares were down over 10 percent at Rs 769. The stock has gained 8 percent in the past six months, underperforming the Nifty 50 which gained 15 percent during the same period.

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Q1 FY25 saw ideaForge's net profit falling nearly 94 percent YoY to Rs 1.8 crore and revenue falling over 11 percent YoY to Rs 86.2 crore. In the year ago period, ideaForge's net profit was Rs 18.9 crore and revenue was Rs 97.1 crore, according to the press release shared by the company. ideaForge's net profit and revenue fell on a sequential basis as well.

The Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of ideaForge declined by 73.6 percent YoY to Rs 8.5 crore and EBITDA margin contracted to 9.8 percent from 33 percent.

ideaForge is a leading Indian unmanned aircraft systems (UAS) manufacturer, supported by investors like Qualcomm, Infosys, and EXIM Bank. Ranked 5th globally in 2023 for dual-use drones by Drone Industry Insights, the company has the largest operational deployment of indigenous UAVs in India, with a drone taking off every four minutes. Its UAVs have been used for over 500,000 flights.

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