ideaForge's revenue tanks 85% as big orders slow down
ideaForge, the drone company you might've seen in the news, just had a rough quarter—revenue dropped a massive 85% (₹12.78 crore vs ₹86.4 crore last year), mostly because big defense and institutional orders slowed down.
They also swung from a small profit to a ₹21.7 crore loss.
Margins stayed deep in the red
Even with less money coming in, ideaForge improved its gross margin to 61.7% by selling higher-value products.
But expenses didn't budge much, so their overall losses grew and margins stayed deep in the red.
ideaForge scored a ₹137 crore emergency order this quarter
There's a silver lining: ideaForge scored a ₹137 crore emergency order from the Indian Army this quarter and their drones were used for surveillance in Operation Sindoor.
Moves like this could help steady things going forward.
CEO Mehta staying positive
CEO Ankit Mehta is staying positive, crediting new government initiatives—like big R&D funds and emergency procurement budgets—for future growth potential.
He admits there's risk when you rely on huge contracts but thinks these steps will help stabilize business soon.