The company reported pre-tax loss of Rs 25.69 crore during the quarter as compared with profit before tax of Rs 14.14 crore in Q4 FY24.

The manufacturer of Unmanned Aircraft Systems (UAS) reported a negative EBITDA of Rs 174.1 crore for the fourth quarter of FY25, compared to a positive EBITDA of Rs 202.5 crore in the same period last year. EBITDA margins stood at -85.7% in Q4 FY25, sharply down from a positive margin of 19.8% reported in Q4 FY24.

Ankit Mehta, CEO, said, “FY25 saw a substantial slowdown for the broader drone industry in India, owing to the general elections in the first part and then the slow progress towards procurement initiatives, despite the latent demand. The industry started to regain momentum at the end of the year with the new emergency procurement cycle for CICT operations going into tendering phase in Q4, along with trials of many other civil programs as well towards the end of the same quarter. And thus, while we did not see closure of opportunities to orderbook in Q4, we now see their healthy progression to our L1 pipeline.

Our efforts to diversify our revenue base got bolstered at the AeroIndia 2025, where we unveiled the concepts of two new categories of drones, namely, our ZOLT platform for Tactical and YETI for Logistics, unlocking new opportunities and partnerships, such as our partnership with Resonia (Sterlite Group) for tower installation logistics. Our strategic investment in US-based Vantage Robotics has augmented platforms as small as nano drones (<250 g) to our portfolio.

The year also marked our transition from a drone manufacturer to a drone solution provider delivering not just best-in-class drones to our customers, but also actionable intelligence through our developments, such as FLYGHT CLOUD for cloud data analytics and FLYGHT DOCKS for consuming Drone-as-a-Service (DaaS). With the launch of NETRA 5 and SWITCH V2, we have demonstrated our ability to build capabilities that can future-proof our forces with unmatched resilience, performance, modularity, and AI. With the augmentation of new categories and greater focus on the global markets, we are seeing increasing momentum towards international opportunities and partnerships. We intend to substantially increase the market opportunity for Indian drones globally and firmly establish them as a default part of the security, safety, and governance infrastructure of any country, city, or enterprise.”

Despite weak Q4 results, shares of ideaForge Technologies hit an upper circuit of 20 at Rs 463.20, driven by escalating geopolitical tensions between India and Pakistan. The spike in investor interest followed reports of heightened conflict along the Northern and Western borders during the intervening night of May 8 and 9, boosting sentiment around defense and surveillance technology companies.

Ideaforge Technology (ideaForge) is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India.