Despite the wider loss, the company’s revenue from operations increased 79.15% year on year (YoY) to Rs 31.55 crore during the quarter.
The company posted a pre-tax loss of Rs 35.93 crore in Q3 FY26, as against a pre-tax loss of Rs 20.28 crore in Q3 FY25.
Ideaforge reported a negative EBITDA of Rs 23.91 crore in Q3 FY26, declining from a negative EBITDA of Rs 12.58 crore in Q3 FY25. The EBITDA margin also reduced to - 75.8% in Q2 FY26 from -71.4% a year ago.
As of 31st December 2025, the company’s order book stood at Rs 440 crore.
Ankit Mehta, co-founder and CEO of ideaForge said, “FY26 has been a defining year for ideaForge so far. We’ve booked the highest quantum of ordersin our two-decade journey so far this year, with a sizable chunk coming in Q3 alone. Our priority now is crisp execution: we expect to deliver
40–45% of the open orders in Q4 FY26 and close FY26 with improved gross margins and turn profitable.
Drones have become a critical element of counter-insurgency and counter-terrorism operations, and recent global conflicts have reinforced the need for nations to build strong indigenous capabilities. For India, this shift became especially evident post Operation Sindoor, with a clear acceleration in procurement through initiatives such as EP6 and decentralised command-level purchases. The recent reports of a fresh procurement outlay of approximately Rs 20,000 crore signal a strong, multi-year demand tailwind for the domestic drone industry. With indigenously developed platforms, subsystems, and full-stack technology, we are gearing up to meet evolving requirements by expanding beyond ISR and reinforcing leadership in India’s drone ecosystem. Further, the reports of PLI 2.0 and R&D incentives for drones also provide positive signs for the industry.”
Ideaforge Technology (ideaForge) is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India.