ideaForge Technology Limited IDEAFORGE NSEAITECH
Company Overview
ideaForge Technology Limited engages in the manufacture and marketing of unmanned aerial vehicle (UAV) systems for security and surveillance applications in India and internationally. The company provides BlueFire Touch, a ground control software for controlling and managing UAVs and autopilot subsystems; and BlueFire Live, a live streaming and payload control software, as well as autopilot and related software and artificial intelligence. It also offers Unmanned Aerial Vehicles, such as NETRA V4PRO, Q4i, Q6, NETRA V4+, SWITCH, NETRA 5, SWITCH V2, UAV- ZOLT tactical class, and YETI, a long-range logistics UAV; surveillance payloads - daylight sensors, thermal sensors, day and night integrated sensors, photogrammetry payloads, megaphones, LiDAR, Hyperspectral payloads, Multispectral payloads, synthetic aperture radar payload, and delivery payloads; and battery systems, communication systems, ground control stations, packaging systems, and other products. In addition, the company provides after-sales services, including training, product support, extended warranties, repairs and fleet maintenance, expert consulting, etc. ideaForge Technology Limited was incorporated in 2007 and is based in Navi Mumbai, India.
Why Investors Should Care
Revenue has grown at a 10.3% CAGR over the past five years.
Carries low leverage with a debt-to-equity ratio of 0.14.
Recent Developments
- Mar 2026 Revenue of ₹226.13 Cr (+40.3% YoY); net profit ₹-17.03 Cr.
- Trailing 12 Months Year-on-year growth — revenue +40.3%.
- 5-Year Trend Long-term compounding — revenue CAGR 10.3%, profit CAGR -51.1%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 10.29% |
| 1 Year: | 40.26% |
Compounded Profit Growth
| 5 Years: | -51.08% |
| 1 Year: | - |
Stock Price Performance
| 1 Year: | +55.37% |
| 6 Months: | +89.29% |
| 3 Months: | +88.74% |
| 1 Month: | -0.89% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
ideaForge is India's largest indigenous AI-drone maker for surveillance, mapping and defence reconnaissance. AI-vision navigation, autonomous swarms.
- AI-enabled autonomous drones ideaForge builds indigenous UAVs with AI-driven autonomous navigation, surveillance and mapping for defence, security and enterprise customers.
- Onboard AI & analytics Edge-AI image processing and analytics turn drone data into actionable intelligence for mapping and surveillance.
- Make-in-India defence drones Domestic sourcing preferences support orders for AI-capable surveillance and combat-support drones.
- Listed pure-play on AI-enabled drones — a fast-growing defence/enterprise-tech niche.
- Strong revenue growth (~40%) as the drone market scales.
- Currently loss-making (negative ROE) — an early-stage, execution-dependent story.
- Small scale, competition and order-timing make it high-risk, high-beta.
Curated from public filings and analyst commentary; figures are illustrative.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
PROS
- Compounding revenue at 10.3% over 5 years.
- In a confirmed uptrend (50-DMA above 200-DMA).
CONS
- Earnings shrank at -51.1% CAGR over 5 years.
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Technology).
| # | Name | CMP ₹ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | IDEAFORGE ideaForge Technology Limited NSEAITECH | 900.00 | -230.77 | ₹3,894.83 Cr | 0.00% | -2.60% | -2.84% | 10.29% | -51.08% |
| 2 | TCS Tata Consultancy Services Limited NIFTY50NSEAITECH | 2,173.50 | 15.98 | ₹7.86 L Cr | 3.14% | 54.93% | 45.89% | 5.80% | 5.30% |
| 3 | INFY Infosys Limited NIFTY50NSEAITECH | 1,084.40 | 1,355.50 | ₹4.40 L Cr | 4.68% | 41.66% | 33.85% | 3.44% | 3.58% |
| 4 | HCLTECH HCL Technologies Limited NIFTY50NSEAITECH | 1,176.30 | 18.35 | ₹3.19 L Cr | 8.25% | 27.21% | 22.14% | 8.65% | 3.87% |
| 5 | WIPRO Wipro Limited NIFTY50NSEAITECH | 175.97 | 14.01 | ₹1.85 L Cr | 9.69% | 17.85% | 14.91% | 0.78% | 5.16% |
| 6 | TECHM Tech Mahindra Limited NIFTY50NSEAITECH | 1,474.20 | 27.20 | ₹1.44 L Cr | 3.51% | 19.82% | 16.24% | 2.16% | -0.14% |
| 7 | LTM LTM Limited NSETECH | 4,076.50 | 24.10 | ₹1.21 L Cr | 1.86% | 25.39% | 20.89% | 8.43% | 4.41% |
| 8 | LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH | 1,535.10 | 61.82 | ₹1.04 L Cr | 0.00% | 27.64% | 21.98% | 0.98% | - |
| 9 | OFSS Oracle Financial Services Software Limited NIFTY_MIDNSEAITECH | 11,729.00 | 38.82 | ₹1.02 L Cr | 5.71% | 43.24% | 33.72% | 10.42% | 13.48% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in INR.
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 39.00 Cr | 97.00 Cr | 24.00 Cr | 91.00 Cr | 102.00 Cr | 86.00 Cr | - | 17.61 Cr | 20.31 Cr | 12.78 Cr | 41.00 Cr | 31.55 Cr | 141.04 Cr |
| Cost of Revenue | - | - | - | - | - | - | - | 9.52 Cr | 13.03 Cr | 4.89 Cr | - | 24.07 Cr | 45.63 Cr |
| Gross Profit | - | - | - | - | - | - | - | 8.09 Cr | 7.28 Cr | 7.89 Cr | - | 7.47 Cr | 95.41 Cr |
| Operating Expenses | 37.00 Cr | 69.00 Cr | 32.00 Cr | 71.00 Cr | 87.00 Cr | 84.00 Cr | - | 33.04 Cr | 37.15 Cr | 36.75 Cr | 52.00 Cr | 44.97 Cr | 45.48 Cr |
| Operating Income | -2.00 Cr | 23.00 Cr | -13.00 Cr | 14.00 Cr | 9.00 Cr | -5.00 Cr | - | -24.94 Cr | -29.87 Cr | -28.86 Cr | -22.00 Cr | -37.49 Cr | 49.93 Cr |
| EBITDA | 1.00 Cr | 28.00 Cr | -8.00 Cr | 20.00 Cr | 15.00 Cr | 2.00 Cr | - | -12.58 Cr | -17.41 Cr | -15.14 Cr | -11.00 Cr | -23.91 Cr | 74.16 Cr |
| Interest Expense | 3.00 Cr | 2.00 Cr | 1.00 Cr | 0 | 0 | 0 | - | 22.80 L | 25.10 L | 36.90 L | 1.00 Cr | 1.05 Cr | 1.64 Cr |
| Pretax Income | -0 | 25.00 Cr | 1.00 Cr | 20.00 Cr | 14.00 Cr | 2.00 Cr | - | -20.28 Cr | -25.69 Cr | -25.29 Cr | -19.00 Cr | -35.93 Cr | 60.75 Cr |
| Tax Provision | -0 | 6.25 Cr | 33.00 L | 5.40 Cr | 3.78 Cr | 50.00 L | - | 3.74 Cr | 1.50 L | -1.74 Cr | -19.00 L | -2.08 Cr | 75.30 L |
| Net Income | -5.00 Cr | 19.00 Cr | 1.00 Cr | 15.00 Cr | 10.00 Cr | 1.00 Cr | - | -24.02 Cr | -25.71 Cr | -23.56 Cr | -20.00 Cr | -33.85 Cr | 59.99 Cr |
| Diluted EPS | -2.54 | 4.95 | 0.21 | 3.45 | 2.41 | 0.27 | - | -5.56 | -5.92 | -5.40 | -4.54 | -0.75 | 13.68 |
Profit & Loss (Annual)
Figures in INR.
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 14.00 Cr | 35.00 Cr | - | 168.58 Cr | 301.37 Cr | 161.22 Cr | 226.13 Cr |
| Cost of Revenue | - | - | - | 58.86 Cr | 157.26 Cr | 108.04 Cr | 94.97 Cr |
| Gross Profit | - | - | - | 109.72 Cr | 144.12 Cr | 53.18 Cr | 131.16 Cr |
| Operating Expenses | 26.00 Cr | 45.00 Cr | - | 73.51 Cr | 108.76 Cr | 135.20 Cr | 169.41 Cr |
| Operating Income | -15.00 Cr | -15.00 Cr | - | 36.21 Cr | 35.36 Cr | -82.03 Cr | -38.25 Cr |
| EBITDA | -12.00 Cr | -11.00 Cr | - | 57.35 Cr | 85.83 Cr | -31.53 Cr | 27.12 Cr |
| Interest Expense | 1.00 Cr | 2.00 Cr | - | 4.70 Cr | 3.59 Cr | 1.53 Cr | 3.98 Cr |
| Pretax Income | -13.00 Cr | -14.00 Cr | - | 40.80 Cr | 61.07 Cr | -62.40 Cr | -19.94 Cr |
| Tax Provision | -0 | -14.00 L | - | 8.81 Cr | 15.80 Cr | -11.70 L | -2.91 Cr |
| Net Income | -13.00 Cr | -15.00 Cr | - | 31.99 Cr | 45.27 Cr | -62.28 Cr | -17.03 Cr |
| Diluted EPS | -1,499.44 | -1,625.56 | - | 7.68 | 10.77 | -14.41 | -3.90 |
Balance Sheet (Annual)
Figures in INR.
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Total Assets | 80.00 Cr | 124.00 Cr | - | 487.93 Cr | 742.50 Cr | 671.82 Cr | 798.72 Cr |
| Current Assets | - | - | - | 383.69 Cr | 602.42 Cr | 415.84 Cr | 483.25 Cr |
| Cash & Equivalents | - | - | - | 2.66 Cr | 161.96 Cr | 11.92 Cr | 32.95 Cr |
| Inventory | - | - | - | 104.68 Cr | 98.28 Cr | 94.22 Cr | 143.11 Cr |
| Receivables | - | - | - | 57.36 Cr | 44.30 Cr | 56.00 Cr | 126.22 Cr |
| Total Liabilities | - | - | - | 163.21 Cr | 81.91 Cr | 63.14 Cr | 199.68 Cr |
| Current Liabilities | - | - | - | 149.43 Cr | 68.46 Cr | 48.21 Cr | 184.32 Cr |
| Long Term Debt | - | - | 0 | 0 | 0 | 0 | - |
| Total Debt | 7.00 Cr | 51.00 Cr | - | 100.56 Cr | 14.49 Cr | 16.47 Cr | 83.71 Cr |
| Total Equity | 68.09 Cr | 60.09 Cr | - | 324.72 Cr | 660.59 Cr | 608.68 Cr | 599.04 Cr |
| Shares Outstanding | - | - | - | 4.17 Cr | 4.29 Cr | 4.31 Cr | 4.33 Cr |
Cash Flows (Annual)
Figures in INR.
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -16.00 Cr | -31.00 Cr | - | -53.23 Cr | 76.03 Cr | -76.79 Cr | -63.41 Cr |
| Investing Cash Flow | 5.00 Cr | -7.00 Cr | - | -148.91 Cr | -101.68 Cr | -68.07 Cr | 15.17 Cr |
| Financing Cash Flow | 1.00 Cr | 43.00 Cr | - | 176.23 Cr | 189.46 Cr | -7.59 Cr | 60.96 Cr |
| Capital Expenditure | -10.00 Cr | -9.00 Cr | - | -33.10 Cr | -67.03 Cr | -87.72 Cr | -88.36 Cr |
| Free Cash Flow | -26.00 Cr | -40.00 Cr | - | -86.33 Cr | 9.00 Cr | -164.51 Cr | -151.77 Cr |
| Net Change in Cash | -11.00 Cr | 5.00 Cr | - | -25.91 Cr | 163.82 Cr | -152.46 Cr | 12.71 Cr |
Ratios (Annual)
Figures in %.
| Metric | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Gross Margin % | - | - | - | 65.1% | 47.8% | 33.0% | 58.0% |
| Operating Margin % | -107.1% | -42.9% | - | 21.5% | 11.7% | -50.9% | -16.9% |
| Net Margin % | -92.9% | -42.9% | - | 19.0% | 15.0% | -38.6% | -7.5% |
| ROE % | -19.1% | -25.0% | - | 9.9% | 6.9% | -10.2% | -2.8% |
| ROCE % | - | - | - | 10.7% | 5.2% | -13.2% | -6.2% |
Shareholding Pattern
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for IDEAFORGE
ideaForge raises ₹500 crore via QIP; here's how the defence stock reacted - Fortune India
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ideaForge Raises Rs 500 Cr via Qip To Fund Next Phase of Growth - HDFC Sky
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Ideaforge Technology raises ₹500 Crore via QIP; issues 62.89 Lakh shares at ₹795 each - Sahi
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ideaForge Raises ₹500 Cr Via QIP; Allots 62.9 Lakh Shares - Inc42
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Ideaforge zooms 144% since April, hits 2-year high; what's driving stock? - Business Standard
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Why Are Traders Focusing on ideaForge (NSE:IDEAFORGE) Stock Right Now? - Kalkine
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IDEAFORGE — Frequently Asked Questions
What is the current share price of ideaForge Technology Limited (IDEAFORGE)?
As of 2026-07-15 09:52 IST, ideaForge Technology Limited (IDEAFORGE) trades at ₹900.00 on NSE. Its 52-week range is ₹371.75 to ₹964.90.
What is the market capitalisation of IDEAFORGE?
ideaForge Technology Limited (IDEAFORGE) has a market capitalisation of ₹3,894.83 Cr on NSE.
What is the P/E ratio of IDEAFORGE?
IDEAFORGE trades at a trailing price-to-earnings (P/E) ratio of -230.77. The industry average P/E is 27.67. Its price-to-book (P/B) ratio is 6.62.
What is the return on equity (ROE) of IDEAFORGE?
IDEAFORGE has a return on equity (ROE) of -2.84%. Its return on capital employed (ROCE) is -2.60%.
Is IDEAFORGE a good stock to buy?
This page provides a data-driven analysis of ideaForge Technology Limited (IDEAFORGE), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.