NSE: IDEAFORGE · BSE: 543932 · ISIN INE349Y01013
Ideaforge Technology Limited stock analysis
Ideaforge Technology Limited ranks #2138 in the TickerSutra evidence-ranked universe with a score of 48/100 and 89% data confidence. The latest captured fundamentals show ROCE of -2.8%, quarterly sales growth of 436.7% and quarterly profit growth of 89.0%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.14×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
Risks and constraints
- CFO/EBITDA is below 0.6×
- Extreme base-effect growth requires manual validation
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹159cr | ₹75cr | ₹44cr | 47.0% |
| 2023 | ₹186cr | ₹48cr | ₹32cr | 26.0% |
| 2024 | ₹314cr | ₹57cr | ₹45cr | 18.0% |
| 2025 | ₹161cr | ₹-52cr | ₹-62cr | -32.0% |
| 2026 | ₹226cr | ₹6cr | ₹-17cr | 2.6% |
| TTM | ₹282cr | ₹26cr | ₹4cr | 9.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Ideaforge Technology Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineIdeaforge Technology Ltd - 543932 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSBSE · 22 Sept 2026Allotment of Equity Shares pursuant to ESOP scheme of ideaForge Technology Limited
MANAGEMENT COMMENTARY
Signals from filed documents
These missions were carried out in some of the most challenging terrains and conditions, providing us with learnings that help us drive our product and technology development efforts. Fourth, we secured the capital required to fuel our next phase of growth, raising INR500 crores through a qualified institutional placement and receiving a Letter of Intent for financial assistance of up to INR151 crores for our middle-
Given the pace of technological advancements in the unmanned systems sector, ensuring novelty and freedom-to-operate is critical to safeguarding our market position and sustaining long-term competitiveness. Continuous strengthening of IP governance through periodic portfolio review and strategic alignment with business expansion plan. Proactive monitoring of global patent landscapes and emerging technology trends to
During FY 2025–26, the Company continued to strengthen its ESG approach through structured monitoring of key indicators and review of material environmental, social, and governance risks and opportunities relevant to its business. The Company reported positive outcomes across several priority areas, including zero lost-time injuries, zero regulatory penalties, and full employee training coverage on safety, ethics, an
One is that we are working with our partner to operationalize the JV that we have signed up over there. And secondly, we have a couple of regulatory approvals that we need to get, particularly around Blue SUAS certification which is the work in progress because it's only after we get the certification, which has now become more open and application process as compared to earlier that we will be able to gain substanti
And therefore, we are taking a little bit of time to fuel both t work towards operationalizing the JV and the Blue sUAS certification. With respect to rest of the international market, we continue to look at partnership opportunities in Europe and Middle East, whereas in the bothSouth America and Africa, we have live opportunities. We have our partners now looking to buy our what is known as not-for-resale units, NFR
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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