Ideaforge posts Rs 31 Cr revenue in Q3 FY26; loss up by 42%

Drone maker IdeaForge Technologies has announced its financial result for the quarter ending December 2025. The company posted 75% growth in its scale while also its loss stood at Rs 34 crore in the period.

Ideaforge’s revenue from operations increased to Rs 31.5 crore in Q3 FY26 in contrast to Rs 18 crore in Q3 FY25, as per the firm’s unaudited financial results sourced from the National Stock Exchange (NSE).

The sale of unnamed aerial vehicles (UAVs) was the sole source of Ideaforge's operating revenue in the last quarter. The company also made Rs 2.5 crore from the financial assets tallying its overall revenue to Rs 34 crore in Q3 FY25 from Rs 22.5 crore in Q3 FY25.

For Ideaforge, the cost of materials for making drones accounted for 34% of the overall expenditure. This cost surged by 2.5x to Rs 24 crore in Q3 FY26 from Rs 9.5 crore in Q3 FY25.

The firm’s spending on employee benefits, finance cost, legal, professional advertising, and other overheads took its overall cost to Rs 70 crore in Q3 FY26 from Rs 43 crore in Q3 FY25.

Ideaforge's loss increased by 42% to Rs 34 crore in Q3 FY26 from Rs 24 Cr in Q3 FY25. For the nine months ended December 2025, its loss stood at Rs 77 crore.

In November last year, IdeaForge received order worth approximately Rs 75 crore from the Ministry of Defence to supply AFDS/tactical-class UAVs along with accessories. The domestic order will be executed within 12 months. This move will surely lead to growth in the revenue for the company.

At the end of today’s trading session, Ideaforge’s share price traded at Rs 431, giving it a total market capitalization of Rs 1,864 crore (approximately $ 203 million).