Multibagger drone stock ideaForge Technology share price surged over 8% on Monday, May 5, hitting a 52-week high of ₹794.40 after the company reported a sharp turnaround in its March quarter performance. The stock extended its rally to the sixth consecutive session, after hitting a 20% upper circuit in the previous session.
The momentum has been strong, with the stock gaining around 50% over the past six sessions, driven by robust earnings recovery and improving sentiment around defence and drone stocks.
For the March quarter, Ideaforge reported a net profit of ₹60 crore, compared to a net loss of ₹26 crore in the same period last year, marking a significant turnaround. Revenue jumped over 600% year-on-year to ₹141 crore from ₹20 crore a year ago, while also posting strong sequential growth.
Operational performance improved sharply, with EBITDA at ₹62 crore compared to an EBITDA loss of ₹22 crore in the year-ago period, indicating a strong recovery in margins and overall business performance.
The sharp improvement across key financial metrics has boosted investor confidence, helping the stock scale fresh highs.
Other Q4 Highlights
The company’s cost base expanded sharply during the March quarter, with total expenses rising about 84% year-on-year to ₹92.74 crore from ₹50.43 crore in the same period last year. The increase was largely driven by higher raw material costs, in line with the scale-up in execution.
The strong jump in revenue during the quarter was supported by accelerated order execution, as the company delivered a significant portion of its pending order book despite supply chain disruptions linked to geopolitical tensions in West Asia.
Commenting on the performance, Ankit Mehta, CEO & whole-time director of IdeaForge, said the company executed around 40% of its open orders in the March quarter, resulting in its highest-ever quarterly revenue.
“As indicated, we executed 40% of our open orders in Q4, 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,” added Mehta.
Looking ahead, the company expects its drone business to contribute more meaningfully to overall growth. During FY26, it added orders worth ₹5.3 billion to its order book, providing visibility for future revenue.
Ideaforge Stock Price Trend
The stock has been on an uptrend in recent times. It has surged 100% in 1 year, 62% in 6 months, 81% in 3 months and 95% in the last 1 month.
With the defence stock hitting its 52-week high today. It is now 123% higher from its 52-week low of ₹356.00, hit in May last year.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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