For the March quarter, ideaForge reported a net loss of ₹26 crore, compared to a net profit of ₹10 crore during the year-ago quarter.
Revenue for the quarter also tumbled 80% year-on-year to ₹20 crore as against ₹102 crore in the same period a year ago.
ideaForge reported EBITDA loss of ₹17 crore for the quarter, compared to a profit of ₹20 crore during the year-ago quarter.
|
₹crore |
Q4FY24 |
Q3FY25 |
Q4FY25 |
|
Revenue |
102 |
18 |
20 |
|
Revenue Growth YoY % |
165% |
-81% |
-80% |
|
EBITDA |
20 |
-13 |
-17 |
|
EBITDA Margin % |
20% |
-71% |
-86% |
|
Net Profit |
10 |
-24 |
-26 |
ideaForge, at the end of the fourth quarter, had an order book of ₹13.6 crore, which is lower than the ₹20.7 crore order book it had at the end of the December quarter and is also the lowest in four quarters.
For the financial year 2025, the company’s revenue declined 48.6% year-on-year due to a shift in order timelines and delayed government spending during the period.
Gross margin for FY25 was 33%, down from 49.9% in FY24, driven by a change in the product mix delivered during the year.
EBITDA margin dropped to -19.6% in FY25 from 27.4% in FY24.
PAT margin also fell sharply to -38.6% in FY25, compared to 14.4% in FY24, as stable expenses were offset by a revenue decline.
ideaForge partnered with Resonia (part of the Sterlite Group) to revolutionise the energy sector using drone and robotics technologies.
Management said that FY25 saw a substantial slowdown in India’s broader drone industry owing to the general elections in the first half and sluggish progress on procurement initiatives, despite underlying demand.
They also said that while there were no order book conversions in Q4, they are now seeing healthy progress in their L1 pipeline. L1 opportunity pipeline stood at over ₹400 crore at the end of the December quarter.
Management is seeing an increasing momentum in international opportunities and partnerships, and expressed intent to substantially increase the global market opportunity for Indian drones.
ideaForge had made its stock market debut back in July 2023 at an IPO issue price of ₹672 per share. The stock had doubled from its issue price on listing day, making a high of ₹1,344. Since then, the stock has been in a downtrend and has declined 72% from its peak.
Shares of ideaForge Technology Ltd. settled 6.61% higher on Thursday at ₹381.70. The stock is down so far this year, now trading nearly 40% lower on a year-to-date basis.
