Ideaforge Technology Ltd

Resignation of Company Secretary & Compliance Officer

• Resignation of Nilesh Ranjan Jaywant, Company Secretary & Compliance Officer, Dec 25, 2026, to pursue a new opportunity.

Order details

• Awarding entity: Orders from Civil Customers (domestic).
• Nature: sale of multicopter UAVs with mapping, aerial survey and surveillance, plus accessories and training.
• Total value: ₹23.62 crore (all inclusive).
• Domestic: yes (domestic orders).
• Time period: Up to 6 months.
• Promoter/group interest: none; not a related party transaction.

ideaForge Technology Limited closes trading window from October 01, 2026 until 48 hours after the declaration of unaudited financial results for the quarter and half year ended September 30, 2026.

Share Allotment under ESOP 2018

• Executive committee approved allotment of 8,826 equity shares on Sep 22, 2026.
• Par value Rs 10 per share and rank pari-passu with existing shares.
• Paid-up capital increases to Rs 49,71,73,320 from Rs 49,70,85,060.
• Total issued shares after issue: 4,97,17,332.
• ISIN: INE349Y01013.
• Exercise price per share: Rs 10.

Meeting Details

• Date and time: 22 September 2026, 03:00 pm onwards.
• Nature and place: Group meeting in Mumbai.

Participants

• Company officials (management representatives) to participate.

Purpose

• Discussions on publicly available information; no UPSI intended.

Financial Performance

• Revenue from operations: INR 68.6 crores in Q1 FY27.
• Gross profit: INR 33.6 crores; gross margin 49%.
• EBITDA: INR 4.3 crores; PAT: negative INR 2.6 crores.
• Opening order book: more than INR 300 crores.
• Order book (as of 30 Jun 2026): INR 256.8 crores; delivery by Q3.
• Deployed fleet crossed 1 million customer missions.
• Patents filed: 112.

Order Book & Execution

• FY27 opening order book > INR 300 crores; convert to revenue.
• Plan to deliver remaining INR 256.8 crores by Q3 per customer timelines.
• Run-rate/dependent revenue expected in non-order-book periods.
• RFPs and FTP opportunities at various approval stages within armed forces.

Market & International Growth

• US: JV operationalizing; Blue SUAS certification work in progress.
• Exports: partnerships in Europe and Middle East; live opportunities in South America and Africa.
• US market: programs run into tens of thousands of crores; one live program around USD 30 million.

Technology & Production Progress

• DGCA Type Certification: six UAV platforms certified; Q6 V2 GEO approved.
• YETI: first technical demonstrator tethered hover test completed; second in design.
• FLYGHT CLOUD: automated video summaries, AI event annotation, workflow automation.
• EW resilience: GNSS-denied navigation improvements.

Guidance & Outlook

• Blended gross margin to hover between 50% and 55% for the year.
• Deliver remaining order book of INR 256.8 crores by Q3.
• Capex: none beyond regular product development; current capacity is single shift; potential to 3 shifts.
• Non-order-book run-rate revenues expected in Q3/Q4; defence procurement momentum noted.

Q&A Highlights

• US market Q&A: JV progress; Blue SUAS approvals underway.
• RFI for 2,715 logistics drones under evaluation; YETI altitude and payload discussed.
• Inorganic growth: open to right-fit partnerships; no specific target.
• Moat: focus on non-commoditized hardware and autonomy; in-house capability build.
• Indigenization: 20-22% imported; 60-65% international content.

Risks & Watchpoints

• Supply chain pressure on thermal cameras and electronics; potential timeline shifts.
• Geopolitical tensions may affect procurement cycles and timelines.
• FTP opportunities depend on approvals; RFP cycles in H2 could impact timing.

Meeting Details

• Date and time: August 11, 2026, 11:00 IST.
• Event: earnings conference call (group) hosted by ideaForge Technology Limited.

Participants

• Key participant: Company Secretary & Compliance Officer.

Purpose

• Discuss unaudited financial results for quarter ended June 30, 2026.

Additional Notes

• Audio recording of the call is available on the company website.

Financial performance

• Revenue ₹68.6 crore for Q1 FY27.
• Gross profit ₹33.6 crore; gross margin 49%.
• EBITDA ₹4.3 crore; EBITDA margin 6.2%.
• PAT after tax ₹-2.6 crore; PAT margin -3.8%.
• Over 20% of FY27 opening order book executed.
• FY27 opening order book about ₹300+ crore; delivery by Q3 targeted.

Strategic and regulatory developments

• Completed ₹500 crore QIP with strong investor participation.
• DGCA Type Certification secured for Q6 V2 GEO UAV.
• LoI from Government of India under RDI for up to ₹151 crore.
• RDI funding to develop YETI middle-mile logistics platform.
• Indigenous UAV fleet crossed one million customer flights.
• Higher defence procurement limits under DFPDS 2026 may accelerate Q3/Q4 activity.