ideaForge takes flight as Q2 FY27 revenue jumps 124% to Rs 91 Cr
ideaForge achieved a Q2 FY27 financial turnaround with Rs 91.3 crore revenue and Rs 23.2 crore EBITDA, while advancing combat UAVs and securing Rs 151 crore RDI funding for heavy-lift logistics.
In the second quarter of financial year 27, Indian drone manufacturer ideaForge reported a remarkable 124% increase in revenue from operations, reaching Rs 91.3 crore. This surge in revenue was driven by the successful execution of orders and the development of new products. Co-founder and CEO Ankit Mehta attributed the company's financial turnaround to strong performance in the Q2 FY27, building upon a steady start to the year highlighted in Q1 FY27.
Despite challenges such as global supply chain constraints and delays in customer approvals, ideaForge maintained its execution momentum and secured Rs 151 crore in research debt funding to develop the YETI middle-mile logistics drone. The company also completed field testing for the ZOLT hybrid tactical drone, a model that offers 100 km range and 6 hours of endurance with electronic warfare resilience.
IdeaForge completed debt payoff through a Qualified Institutional Placement (QIP) and, despite operational hurdles, the company is optimistic about the future, citing a Fast Track Procurement pipeline estimated at Rs 20,000 crore for medium-term visibility.
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