Skip to main content
Swing Capital

Ideaforge Technology Ltd

NSE: IDEAFORGE BSE: 543932

Incorporated in 2007, ideaForge Technology Limited is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS).[1]

₹803
52W: ₹366 — ₹889
PE 0 · Book ₹143 · +462% vs book
Market Cap₹3,482 Cr
Stock P/E—Price to Earnings
ROCE0.85%Return on Capital
ROE1.25%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is expected to give good quarter

Weaknesses

  • −Stock is trading at 5.46 times its book value
  • −Company has low interest coverage ratio.
  • −Promoter holding is low: 33.3%
  • −Company has a low return on equity of -0.91% over last 3 years.
  • −Earnings include an other income of Rs.22.0 Cr.
  • −Company has high debtors of 204 days.

Shareholding Pattern

Promoters33.34%
FIIs0.73%
DIIs1.5%
Public64.45%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters29.33%29.23%▼0.129.23%29.17%▼0.129.1%▼0.133.36%▲4.333.35%▼0.033.34%▼0.0
FIIs2.92%3.5%▲0.61.36%▼2.11.56%▲0.20.6%▼1.00.25%▼0.30.2%▼0.00.73%▲0.5
DIIs3.4%2.34%▼1.12.48%▲0.11.52%▼1.01.51%▼0.01.49%▼0.01.49%1.5%▲0.0
Public64.32%64.92%▲0.666.93%▲2.067.74%▲0.868.81%▲1.164.89%▼3.964.96%▲0.164.45%▼0.5

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales9210586371824134232141
Expenses71878351334129495578
Operating Profit21173-14-15-18-17-7-2463
OPM %23%16%4%-38%-78%-74%-129%-17%-76%45%
Net Profit16122-12-21-20-22-15-3160
EPS ₹3.712.750.44-2.84-4.8-4.74-5.04-3.48-7.2513.96

AI Insights

Revenue Trend

Mar 2026 revenue at ₹227Cr, up 36.7% YoY. OPM at 7%.

Debt Position

Borrowings at ₹84Cr. Debt-to-equity ratio: 0.15x. Healthy balance sheet.

Institutional Flow

DIIs: 1.5% (-8.65pp change). FIIs: 0.73% (-2.03pp change). Promoters hold 33.34%.

Margin & Efficiency

ROCE declining from 0% (Mar 2019) to -1% (Mar 2026). Working capital days: 413.

Recent Announcements