Ideaforge Technology Ltd Q3 FY26 Results

FY26 has been a defining year for ideaForge so far. We’ve booked the highest quantum of orders in 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 INR 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.