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ideaForge takes flight as Q2 FY27 revenue jumps 124% to Rs 91 Cr

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ideaForge takes flight as Q2 FY27 revenue jumps 124% to Rs 91 Cr

Strong execution and technology innovation helped drive a sharp financial turnaround for Indian drone maker ideaForge in the second quarter FY27.

“Building on the steady start of the year in Q1 FY27, Q2 FY27 saw continued progress in order book execution, new product development, and preparations to capitalise on upcoming procurement opportunities,” said Ankit Mehta, Co-founder and Chief Executive Officer of ideaForge Technology.

In Q2 FY27, revenue from operations reached Rs 91.3 crore, up 124% year-on-year (YoY) from Q2 FY26. For the half-year period H1 FY27, operating revenue surged 199% YoY to a record Rs 159.9 crore from Rs 53.5 crore in H1 FY26, driven by delivering over 50% of the opening order book.

Revenue streams were led by the defence vertical, which generated Rs 65.7 crore or 72% of Q2 FY27 operating revenue. The civil and enterprise segment contributed Rs 25.6 crore or 28% in Q2 FY27, driven by mapping projects, crowd safety monitoring, and Drone-as-a-Service software subscriptions, which offer cloud-based drone operations.

The company returned to profitability, reporting a profit after tax (PAT) of Rs 6.5 crore in Q2 FY27, with a net margin of 7.1%. This compares with a loss of Rs 19.6 crore and a negative margin of 48.1% in Q2 FY26.

EBITDA (earnings before interest, taxes, depreciation, and amortisation) stood at Rs 23.2 crore, with a margin of 25.4%, compared with a loss of Rs 8 crore and a negative margin of 19.6% in the year-ago quarter.

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