After three consecutive quarters in the red, dronetech company ideaForge regained profitability in the March 2026 quarter (Q4 FY26). The Mumbai-based company reported a net profit  of ₹59.9 Cr in Q4 FY26 against a net loss of ₹25.7 Cr in the year-ago quarter. It had incurred a loss of ₹33.9 Cr in the previous quarter. 

The improvement in the bottom line came on the back of a robust jump in its operating revenue during the quarter under review. Operating revenue skyrocketed 6X YoY and 3.5X QoQ to ₹141 Cr. This is ideaForge’s highest quarterly revenue till date. 

Including other income of ₹12.5 Cr, ideaForge’s total income for the quarter stood at ₹153.5 Cr. Meanwhile, total expenses for the quarter also spiked 84% YoY to ₹92.8 Cr. The surge in expenses came largely on the back of increased cost of materials consumed during the quarter. This expense jumped 184% YoY to ₹51.1 Cr. 

For the full fiscal year FY26, ideaForge managed to trim its net loss by 73% YoY to ₹17 Cr. Its operating revenue for the fiscal surged 40% YoY to ₹226.1 Cr.

In essence, the ideaForge turnaround story can be mapped around the number of orders the company was able to serve in the quarter. 

Cofounder and CEO Ankit Mehta said that ideaForge was able to register an improvement in demand  due to evolving market conditions during the quarter, which aligned with its long-term investments in deep R&D. The company has now set up advanced R&D and manufacturing hubs in Navi Mumbai, Bengaluru, Delhi, and the USA.

“Our order execution in Q4 was in line with what we indicated in the last quarter, achieving our highest quarterly revenue ever, despite the major supply chain crisis owing to the recent geopolitical events. This achievement underscores the right sizing and resilience we have built  across the value chain, from engineering to supply chain to manufacturing,” he added. 

The company said that its drones completed 2.5 Lakh end-customer flights throughout the fiscal year, which marks 26% of the total deployments since 2007. 

The new-age tech company, which had focused on developing surveillance and inspection drones, expanded into combat drones during the quarter under review. In-house development and undisclosed partnerships helped ideaForge expand into this terrain.

The expansion into this category only makes sense for the company as the utilisation of drones in warfare has accelerated beyond surveillance, as evidenced by the ongoing conflict in the West Asian region. 

Given that drones are set to play an increasing role in offensive operations going forward, ideaForge is now focusing on developing combat drones for long-range attack, loitering munitions and kamikaze. 

Meanwhile, the company’s international expansion also started fructifying in the quarter. Following its expansion into the US in September, ideaForge received its inaugural order from Lamar Police Department in Texas in Q4. 

Besides, the company also claimed to become the first global drone company to train NATO forces at the US National Test Pilot School

The company had signed a  joint venture (JV) with US-based ammunition component manufacturer First Breach Inc to enter the US market.

The international expansion momentum is only expected to accelerate in the coming quarters. A few days back, ideaForge signed a strategic MoU with Digital Media Professionals Inc (DMP) to expand its business in Japan and develop next-generation AI drones. 

Shares of ideaForge ended today’s trading session 1.22% higher at ₹609.25 on the BSE.

The post ideaForge Back In The Black, Posts ₹60 Cr PAT In Q4 appeared first on Inc42 Media.