Ideaforge Technology Ltd

Ideaforge Technology Ltd promoter Ankit Mehta has disclosed the creation of a pledge over 2,80,000 equity shares, representing 0.56% of the company's total share capital. The encumbrance was created on September 28, 2026, with Infina Finance Private Limited as the beneficiary, for personal financial requirements. This action impacts 2.23% of Mr. Mehta's promoter shareholding. The disclosure is made in accordance with SEBI (SAST) Regulations, 2011.

Ideaforge Technology Limited promoter and Whole Time Director, Ankit Mehta, has disclosed the creation of a pledge over 2,80,000 equity shares, representing 0.56% of the company's total share capital. This pledge was made on September 28, 2026, for personal financial requirements to Infina Finance Private Limited. Mr. Mehta's total promoter holding in the company is 36,86,964 shares (7.42% of total share capital), with 3,70,370 shares (0.74%) previously encumbered. Post this event, the total encumbered shares held by Mr. Mehta amount to 6,50,370 shares (1.30% of total share capital).

ideaForge Technology Ltd has received an order under Section 74 of the CGST Act demanding a tax liability of ₹545.86 Million along with a penalty of ₹545.86 Million for the periods January 2022 to March 2024. The authority claims the company wrongly discharged GST at 5% instead of the differential rate of 13%. The company disputes this, citing a government clarification in 2025 that drone GST is 5%. ideaForge does not foresee an immediate material impact on its financials or operations. The company plans to file an appeal against the order, expecting a favorable outcome. The total demand, including tax and penalty, amounts to ₹1,091.72 Million, which is ₹109.17 Crore.

ideaForge Technology Limited has announced the receipt of multiple purchase orders aggregating to ₹23.62 Crore for the supply of Unmanned Aerial Vehicles (UAVs), accessories, and training to civil customers. The orders are for domestic clients and are expected to be executed within six months. This business update signifies continued demand for the company's drone solutions in the civilian sector, bolstering its order book and revenue prospects.

Ideaforge Technology Ltd has announced the closure of its trading window for all designated persons and their immediate relatives. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The trading window will be shut from October 1, 2026, and will reopen 48 hours after the declaration of the unaudited financial results for the quarter and half-year ended September 30, 2026. The specific date for the Board Meeting to approve these results will be communicated separately.

ideaForge Technology Ltd reported Q1 FY27 revenue of ₹68.6 crore with positive EBITDA, executing over 20% of its FY27 opening order book. The company raised ₹500 crore via QIP and secured a Letter of Intent for up to ₹151 crore for its YETI logistics platform. Despite global supply chain challenges, ideaForge aims to deliver its FY27 opening order book by Q3. The company also achieved a milestone of one million customer flights and secured DGCA Type Certification for the Q6 V2 GEO UAV. CEO Ankit Mehta highlighted progress in combat drone capabilities and targeting large defense procurement opportunities.

Ideaforge Technology Ltd announced its unaudited financial results for the quarter ended June 30, 2026. The results, both standalone and consolidated, were approved by the Board of Directors at a meeting held on August 10, 2026. The company has also submitted the Limited Review Report from its statutory auditors, B S R & Co. LLP. The disclosure is available on the company's website.

ideaForge's consolidated Q1 FY27 print is a mixed one: revenue from operations jumped 437% YoY to ₹68.59 Cr (from ₹12.78 Cr in Q1 FY26) as order-book execution ramped up, but the company still posted a net loss of ₹2.59 Cr, swinging back from a strongly profitable Q4 FY26 (PAT ₹59.99 Cr, revenue ₹141.04 Cr) — a 51% sequential revenue decline and a return to red ink after one profitable quarter. Reported YoY, the loss narrowed 89% from ₹23.56 Cr a year ago, but that headline flatters the underlying trend: current tax included a ₹6.04 Cr one-off reversal of a prior-year tax provision, without which the loss would have been about ₹8.63 Cr — a narrower, ~63% YoY improvement. A change in depreciation method from written-down-value to straight-line also trimmed depreciation by ₹0.52 Cr, adding a small further cushion to the reported number. Gross margin (revenue less material costs) came in near 49%, essentially tracking management's guided 50-55% blended band for FY27 — on-plan, though at the lower end. Net margin was -3.8% this quarter versus +39.1% in Q4 FY26 and roughly -184% in the small-base Q1 FY26, so the sequential margin trajectory is what stands out: profitability collapsed quarter-on-quarter even as the YoY base effect looks favorable. This is consistent with management's own framing at the Q4 FY26 concall that the ₹310 Cr opening FY27 order book would execute 'primarily within the first three quarters' — implying Q1 was always going to be the lightest of the three, with heavier recognition still to come in Q2-Q3. Corporate activity this quarter reinforces the funding and capacity build-out: the company closed a ₹500 Cr QIP on July 10, 2026 at ₹795/share (for debt prepayment, working capital and product development) and separately secured an in-principle ₹151 Cr loan from TDB on July 31, 2026 — both signal the company is stocking up capital ahead of order execution and, per its guidance, expansion into combat drone capabilities. No quarter-specific street estimate for Q1 FY27 PAT or revenue could be found; available consensus is only full-year FY27 (~61% revenue growth, 15-20% PAT growth per Trendlyne), so this print cannot be graded against a Q1-specific bar. Whether the full-year 'annual profitability' goal management set out is on track remains unresolved after one quarter — Q1 is structurally the weakest given the order-timing guidance, but the size of the underlying (adjusted) loss bears watching into Q2.

ideaForge Technology Limited has received a Letter of Intent (LOI) from the Technology Development Board (TDB), a statutory body under the Department of Science and Technology, Government of India. The LOI signifies TDB's in-principle approval to consider financial assistance of up to ₹151 Crore for ideaForge's project proposal, "YETI - Heavy lift long range autonomous aerial logistics vehicle". The assistance will be in the form of a loan under the Research Development and Innovation Scheme (RDI Scheme) at a simple interest rate of 4% per annum. The total estimated project cost is ₹302 Crore. Disbursement will be in tranches, contingent on the company arranging equivalent funds from non-Government sources and achieving project milestones. The LOI is not a final binding commitment and is subject to due diligence and definitive agreements.

Ideaforge Technology Ltd has announced a Board of Directors meeting scheduled for August 10, 2026. The primary agenda is to consider and approve the Unaudited Standalone & Consolidated Financial Results for the quarter ended June 30, 2026. In line with SEBI regulations, the trading window for the company's securities will remain closed until 48 hours after the declaration of these financial results. The company has also updated its website with this notice.