IDEAFORGE TECHNOLOGY LIMITED — Earnings Release 2026

Apr 30, 2026

www.ideaforgetech.com

Idea Forge
Create. Inspire

April 30, 2026

| To,
BSE Limited
Phiroze Jeejeebhoy Towers, Dalal Street,
Fort, Mumbai – 400 001.
BSE Scrip Code: 543932 | To,
The National Stock Exchange of India Limited
"Exchange Plaza", Bandra – Kurla Complex,
Bandra (EAST), Mumbai – 400 051
NSE SYMBOL: IDEAFORGE |
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Sub: Press Release-Financial Performance for the quarter and year ended March 31, 2026, pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015

Dear Sir/Ma'am,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Press Release issued by the Company on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended March 31, 2026.

This is also being uploaded on the website of the Company at https://ideaforgetech.com/

This is for your information and records.

Thanking you,

For ideaForge Technology Limited

NILESH RANJAN
JAYWANT
Digitally signed by NILESH RANJAN JAYWANT
Date: 2026.04.30 20:04:39
+05'30'

Nilesh Ranjan Jaywant
Company Secretary & Compliance Officer
Membership No. A26554

Encl: As above

ideaForge Technology Limited
EL-146, T.T.C. Industrial Area, M.I.D.C. Mahape, Navi Mumbai - 400 710.
Maharashtra (India)
Ph.(O): +91 (22) 6787 1000 (F) +91 (22) 6787 1007
Email: info@ideaforgetech.com CIN No. L31401MH2007PLC167669

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ideaForge reports its Strongest Quarterly performance in Q4 with INR 141 Cr revenue and INR 60 Cr PAT, with the highest-ever annual order bookings of ~INR 530 Cr in FY26, signalling a strong FY27 outlook

Received ~INR 530 Cr orders from defence and civil customers in FY26

Executes 40% of the open order book as indicated in Q3, with delivery and acceptance of new EW resilient systems

Entering the combat drones segment (long range strike platforms, loitering munitions, kamikaze) for upcoming procurement opportunities from the Indian Armed Forces

Mumbai, April 30, 2026: ideaForge Technology Limited (the Company), the pioneer and pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market, has announced its audited financial results for the quarter and year ended March 31, 2026.

The order booking momentum continued in Q4 as well, with the Company recording its highest-ever order booking in a year in FY26, with total orders inflow of ~INR 530 Crore.

In March, when the world was grappling with supply-chain challenges, ideaForge executed 40% of its open orders as indicated in Q3, demonstrating resilience built through deep engineering, supply-chain ecosystem, and operational capability. This included deliveries of electronic warfare (EW) resilient systems after extensive acceptance testing by end-users in an EW environment.

The Company not only executed the large quantum of orders, but also turned towards the path to profitability, registering PAT of INR 60 Crore (42.5%) in Q4 and EBITDA of INR 27 Crore (12.0%) in FY26, with overall improved margins, as indicated in Q3 FY26.

On the development side, the Company indicated that it is expanding beyond ISR and is actively developing combat drones like long-range strike platforms, loitering munitions, and kamikaze through in-house development and strategic partnerships to participate in and capture upcoming large opportunities by the Indian defence forces.

The quarter proved important with regard to ideaForge's international footprint, as it received its first purchase order in the United States from Lamar Consolidated Independent School District Police Department for deployment of its drones to ensure student safety across a school district in Texas. Further, ideaForge became the first Indian drone Company to train NATO forces at the U.S. National Test Pilot School, showcasing the Company's deep-tech defence capabilities on the global stage. The Company also demonstrated its products in action to the US DoD in extreme cold weather conditions in Alaska. With these demonstrations, now ideaForge's products have not just flown in some of the highest altitudes in the world but also near both the North and South Poles.

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ideaForge Group

Also, the Company has signed a strategic MoU with Digital Media Professionals Inc. (DMP) to expand its business in Japan and develop next-generation AI drones, marking a major step forward for India's deep-tech global expansion.

ideaForge's deployed fleet completed over 2,50,000+ end-customer flights in FY26 and over 950,000 cumulative flights, reflecting the scale of deployment, growing customer confidence, and reliance on its technology, products, and the compounding value of operational experience. The Company's non-defence business witnessed strong momentum, bringing multiple enterprise solutions to a varied customer base. Its UAVs are being deployed across public safety, security and governance, emergency response, natural resource monitoring, and infrastructure surveillance.

Commenting on the results, Mr. Ankit Mehta, Co-Founder and CEO of ideaForge Technology, said,

"FY26 has been a turnaround year for ideaForge, and Q4 has started to crystallize what we set out to build.

The continued momentum helped us to book our largest quantum of orders for the year. This is a testament to the deepening trust our customers place in our technology. While the improved demand was driven by market conditions, our long-term investments in deep R&D and our persistent philosophy of prioritising technology development over short-term trends have helped us capitalize on the opportunity.

Our order execution in Q4 was in line with what we indicated in the last quarter, achieving our highest quarterly revenue ever, despite the major supply chain crisis owing to the recent geopolitical events. This achievement underscores the right sizing and resilience we have built across the value chain, from engineering to supply chain to manufacturing.

Deliveries of our EW resilient systems after extensive end-user testing marked a clear shift from being a developmental and demonstrable feature to a deployed and inducted capability.

Q4 & FY26 also mark a turnaround towards profitable growth – as indicated earlier, we closed Q4 with positive PAT and FY26 with positive EBITDA and have demonstrated that scale and financial discipline can go hand in hand.

Drones are increasingly playing a vital role in offensive operations, and we are actively developing combat drones for long-range attack, loitering munitions, kamikaze, etc., and are prepared to participate in the upcoming wave of opportunities.

With a full-stack indigenous and secure technology platform, large-scale deployment, and deep customer trust, we enter FY27 with a focus and commitment to create long-term value for all our stakeholders."

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ideaForge Green impact

Financial Performance

Particulars (INR Cr)	Q4 FY26	Q4 FY25	Q3 FY26	FY26	FY25
Revenue	141.0	20.3	31.5	226.1	161.2
Gross Profit	95.4	7.3	7.5	131.2	53.2
Gross Profit (%)	67.6%	35.9%	23.7%	58.0%	33.0%
EBITDA	74.2	-17.4	-23.9	27.1	-31.5
EBITDA Margins (%)	52.6%	-85.7%	-75.8%	12.0%	-19.6%
Profit After Tax	60.0	-25.7	-33.9	-17.0	-62.3
PAT Margins (%)	42.5%	-126.6%	-107.3%	-7.5%	-38.6%

About ideaForge Technology Limited

ideaForge is a pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) industry. With a mission-first approach, we deliver cutting-edge drones engineered for unmatched performance, autonomy, and reliability, redefining possibilities in security, mapping, surveillance, and disaster response applications across militaries and enterprises.

With India's largest operational deployment of indigenous UAVs, an ideaForge drone takes off every 3 minutes, enabling over 9,50,000 successful flights. Ranked 3rd globally among the world's Top Dual-Use Drone Manufacturers by Drone Industry Insights (DRONEII) Global Drone Review 2024, ideaForge continues to set benchmarks in innovation and excellence.

Since pioneering India's first VTOL UAVs in 2009, we have expanded with advanced R&D and manufacturing hubs in Navi Mumbai, Bengaluru, Delhi, and the USA, driving the development of indigenously designed and built solutions. Backed by marquee investors, including Qualcomm, Infosys, Celesta Capital, Florintree, EXIM Bank, and Infina Finance, ideaForge is at the forefront of revolutionising unmanned systems.

Discover more: www.ideaforgetech.com