ideaForge reports ₹6.5 Cr net profit in Q2 FY27, secures ₹151 Cr for YETI UAV development
Drone technology company ideaForge reported a net profit of ₹6.5 Cr in the second quarter of FY27, reversing losses from the previous quarters. The company also secured ₹151 Cr in funding from the Technology Development Board (TDB) to advance the development of its logistics unmanned aerial vehicle (UAV), YETI.
Editor, Lazyfounder
TABLE OF CONTENTS
Financial turnaround and revenue growth
ideaForge posted a net profit of ₹6.5 Cr in Q2 FY27, a significant improvement from a ₹2.6 Cr loss in Q1 FY27 and a ₹19.6 Cr loss in the same quarter of FY26. The company’s operating revenue surged 124% year-on-year to ₹91.3 Cr, up from ₹40.8 Cr in Q2 FY26. Sequentially, revenue grew 33% from ₹68.6 Cr in the preceding quarter, according to Inc42.
The company’s total income for the quarter, including ₹6.3 Cr in other income, reached ₹97.6 Cr. While total expenses rose 41.9% year-on-year to ₹90.1 Cr, the cost of materials for drone manufacturing accounted for over half of this expenditure, totalling ₹48.1 Cr.
EBITDA margin and business segments
ideaForge’s EBITDA margin improved to 25.4% in Q2 FY27, reversing a negative 19.6% margin in the same quarter of the previous fiscal year. The company reported an EBITDA profit of ₹23.2 Cr, compared to an ₹8 Cr loss in Q2 FY26.
Defence applications dominated the company’s revenue, contributing 72% of the quarter’s total, while civil applications made up the remaining 28%.
Order book execution and government funding
ideaForge entered FY27 with an order book exceeding ₹300 Cr, with half of this value executed in the first half of the fiscal year. The company also secured ₹151 Cr in funding from the Technology Development Board (TDB) to develop its logistics UAV, YETI. The drone is designed for cargo transportation, medical evacuation, and personnel deployment, with a payload capacity of up to 200 kg.
Market reaction
Shares of ideaForge closed 1.75% higher at ₹639.70 on the BSE following the announcement of its financial results and funding.
What this means
Lazyfounder analysis — our interpretation, not reported fact.
ideaForge’s return to profitability and strong revenue growth signal resilience in India’s drone manufacturing sector, particularly for companies serving defence and logistics markets. The ₹151 Cr funding from TDB for the YETI UAV highlights government backing for indigenous UAV technology, which could accelerate adoption in defence, emergency response, and logistics. For founders and operators, ideaForge’s ability to execute its order book efficiently—especially in high-stakes sectors—demonstrates a model worth emulating. The shift in EBITDA margins also suggests that scaling production and optimizing supply chains can offset rising material costs, a challenge many hardware startups face.
Related on Lazyfounder
Sources
- Inc42 · 2026-11-02
ideaForge Returns To Profitability In Q2, Reports Net Profit Of ₹6.5 Cr
This story is an original summary drafted with AI by Lazyfounder from the reporting listed above and checked by automated validation. Facts are attributed to their original publishers; sections marked as analysis are Lazyfounder's. Where a source is in another language, facts were machine-translated and quotations are reported, not reproduced. Read the original coverage via the links, and see our AI policy and corrections policy.
About the author
Editor, Lazyfounder
Tarun Mottlia edits LazyFounders, covering Indian startups, funding rounds, AI and product launches. Every story on the site is AI-assisted and checked against its cited sources before publication.
More stories by Tarun MottliaGet the LazyFounder Brief
Startup, funding and AI news in a five-minute read. Join the early-access list.
