This smallcap defence player's share price locked in 10% upper circuit; here's why

Shares of Ideaforge Technology were locked in a 10% upper circuit on Monday after the company secured a new order from the Ministry of Defence. Shares opened at ₹575 apiece on the NSE and were locked in a 10% upper circuit at ₹631 apiece at 2:30 pm.

Ideaforge, a Leading small-cap defence player, announced through an exchange filing on Monday that it secured a major order from the Ministry of Defence. The order includes the supply of a mini UAV (unmanned aerial vehicle) with accessories within 12 months. The order value is slated to be worth ₹137 crore.

On a consolidated basis, the company has reported a net loss of ₹25.71 crore for the fourth quarter ended March 31, 2025, as compared to a net profit of ₹10.33 crore for the same quarter in the previous year. The total income of the company decreased by 77.02% at ₹24.74 crore for Q4FY25 as compared to ₹107.66 crore for the corresponding quarter previous year.

For the year ended March 31, 2025, on the consolidated basis, the company has reported a net loss of ₹62.28 crore as compared to a net profit of ₹45.27 crore for the previous year. The total income of the company decreased by 47.05% at ₹182.38 crore for the year under review as compared to ₹344.41 crore for the year ended March 31, 2024.

Ideaforge Technology Limited is engaged in the business of manufacturing and marketing of UAV systems, which are used for security and surveillance. Its ancillary business of providing training and maintenance services evolves around the main business of manufacturing and marketing of UAV systems.