Ideaforge Technology shares fall over 7.5% after reporting loss in June quarter

Shares of aerospace and defence equipment maker, Ideaforge Technology, fell as much as 7.61% to hit an intraday low of ₹503 on the BSE a day after it reported June quarter earnings. On the National Stock Exchange, Ideaforge Technology shares fell as much as 7.83% to hit an intraday low of ₹502.30.

Ideaforge Technology post market hours on Tuesday reported consolidated net loss of ₹24 crore in the first quarter of current financial year (Q1FY26) against net profit of ₹1.17 crore in the year-ago period.

Its revenue from operations in the first quarter dropped 85% to ₹13 crore from ₹86 crore in the same period last year.

Ideaforge reported earnings before interest, taxes, depreciation and amortisation (EBITDA) loss of ₹15 crore as against operating profit of ₹8.46 crore.

During the quarter, Ideaforge Technology secured emergency procurement order from the Indian Army worth ₹137 crore for mini-UAVs. The company said that its UAVs were deployed by the Indian Army during Operation Sindoor demonstrating the battlefield readiness of its UAVs

“The first quarter of FY 2026 marked a positive start for the financial year and reinforced ideaForge’s resilience: both in technology and in business. ideaForge secured a significant ₹137 crore order under the Government’s 5th cycle of Emergency Procurement. This order followed rigorous technical evaluations and country-of-origin checks, highlighting our standing as a trusted partner to the Indian armed forces,” said Ankit Mehta, CEO, Ideaforge said.

The quarter also saw our platforms play a role in Operation Sindoor, proving effective in the high-stakes battlefield scenario, reaffirming the resilience of our indigenous product development and deep-tech foundation. Post-Operation Sindoor, government procurement has received a major boost, with the allocation of ₹40,000 crores for the 6th cycle of Emergency Procurement for the armed forces. Additionally, the government has announced an RDI Fund of ₹1 lakh crore, which will further boost innovation efforts in the industry. The next phase of PLI is also expected to be rolled out for drone manufacturers, which will be a major tailwind for the industry and ideaForge,” Mehta added.

As of 12:41 pm, Ideaforge Technology shares traded 7.06% lower at ₹506, underperforming the SENSEX which was up 0.5%.