ideaForge Technology Limited recorded cumulative order inflows of approximately INR 440 million during FY26 year-to-date, marking the highest annual order booking in the company’s history, supported by emergency defence procurement and broad-based demand across programmes. The company ended the December 2025 quarter with an open order book of around INR 350 million, which increased to about INR 368 million in January 2026, providing improved revenue visibility over the coming quarters.
The order inflows during the December quarter were diversified, with more than INR 102 million coming from large opportunities and around INR 115 million from multiple smaller orders. Management said this mix reduced dependence on a single programme or customer and created a steadier execution pipeline with multiple delivery milestones and revenue recognition events.
“We have added approximately INR 440 crores of orders year-to-date, the highest quantum of orders in a single year in our two-decade journey,” said Ankit Mehta, Chief Executive Officer and Whole Time Director of ideaForge Technology Limited. “The order book is the single clearest indicator of revenue visibility in our business.”
The company said it is confident of executing and recognising revenue from around 40 percent to 45 percent of the open order book in the current quarter, supported by component readiness and available working capital. Management indicated that margins on upcoming deliveries are expected to be healthier than earlier quarters in FY26, improving the prospects of returning to profitability.
“With both the quantity of billing and better gross margins, we are confident of turning profitable,” Mehta said. He added that the company expects a full-year gross margin trajectory of above 50 percent in FY26, supported by the current order mix and execution of higher-value programmes.
During the quarter, ideaForge secured capital emergency procurement orders worth more than INR 100 million from the Indian Army for its ZOLT tactical unmanned aerial vehicle (UAV) and SWITCH mini UAV. The company said the platforms were selected after evaluations in electronically contested environments and stricter checks on country of origin and intellectual property.
Management noted that while supply-chain constraints have emerged due to shifting geopolitical conditions, the company is working closely with suppliers to manage risks and meet delivery timelines. It also pointed to reports of a potential INR 20,000 million defence procurement outlay across intelligence, surveillance and reconnaissance platforms, loitering munitions and strike drones as a multi-year demand driver for the domestic drone industry.
On the civil and enterprise side, ideaForge said demand from law enforcement, paramilitary forces and geospatial applications remained steady, with an increasing share of paid proof-of-concept deployments. The company added that customers are increasingly seeking outcome-based solutions, leading to greater adoption of software platforms such as FLYGHT CLOUD alongside hardware sales.
ideaForge Technology Limited designs and manufactures unmanned aerial vehicles and associated software platforms for defence, homeland security and civil applications, with a focus on indigenously developed systems and electronic warfare resilience capabilities.