ideaForge Technology Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following a Board of Directors meeting held on January 22, 2026. The company, which specializes in manufacturing and marketing unmanned aerial vehicle (UAV) systems for security and surveillance applications, reported mixed financial performance during the quarter.

Financial Performance Overview

The company's financial results for Q3 FY26 showed significant revenue growth but continued operational challenges. The quarterly performance reflects the company's ongoing business dynamics in the UAV sector.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, ideaForge Technology reported revenue from operations of ₹859.95 crores compared to ₹1,421.67 crores in the corresponding period of the previous year, representing a decline of 39.49%. The company's total income for the nine-month period stood at ₹956.01 crores against ₹1,588.97 crores in the previous year.

Operational Expenses and Cost Structure

The company's expense structure for Q3 FY26 totaled ₹674.49 crores compared to ₹406.79 crores in Q3 FY25. Key expense components included cost of materials consumed at ₹242.09 crores, employee benefits expense of ₹149.39 crores, and depreciation and amortization expense of ₹109.42 crores. Other expenses accounted for ₹164.77 crores during the quarter.

Corporate Developments

During the quarter and nine-month period ended December 31, 2025, the company granted 11,685 and 152,277 new stock options respectively to eligible employees under the Employee Stock Option Scheme (ESOS). The company also allotted 8,761 and 173,720 equity shares respectively upon exercise of stock grants under the scheme.

Regulatory Impact Assessment

The company assessed the impact of the four Labour Codes notified by the Government of India on November 21, 2025. These codes consolidate 29 existing labour laws and include the Code on Wages 2019, Industrial Relations Code 2020, Code on Social Security 2020, and the Occupational Safety, Health and Working Conditions Code 2020. The incremental impact of ₹35 million in gratuity primarily arises due to changes in wage definition.

Audit and Compliance

The unaudited financial results were reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on January 22, 2026. B S R & Co. LLP, the company's statutory auditors, expressed an unqualified opinion on both the standalone and consolidated financial results. The Board meeting commenced at 5:30 PM and concluded at 7:30 PM on January 22, 2026.

ideaForge Technology Limited has announced the allotment of 14,451 equity shares under its Employee Stock Option Scheme, 2018. The Executive Committee of the Board approved this allotment on January 13, 2026, as part of the exercise of vested stock options by employees.

Share Allotment Details

The allotted shares carry specific parameters that align with the company's existing equity structure:

The distinctive numbers for the newly allotted shares range from 4,32,53,696 to 4,32,68,146. These shares have been issued in dematerialized form and will rank pari passu with the existing equity shares of the company in all respects.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up share capital:

The increase represents a marginal expansion of approximately 0.03% in the total number of outstanding equity shares.

Regulatory Compliance

The allotment has been conducted in accordance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The company has filed the necessary disclosures with both the National Stock Exchange of India Limited and BSE Limited, where ideaForge Technology's shares are listed under the symbols IDEAFORGE and scrip code 543932 respectively.

The original filing for the ESOP scheme was made on August 03, 2023, with filing numbers NSE/LIST/36806 and DSC/IPO/TL/ESOP-IP/2925/2023-24 dated September 26, 2023, from NSE and BSE respectively. No lock-in period applies to these newly allotted shares, and no listing fees are payable for this issuance.

Company Information

ideaForge Technology Limited is headquartered at EL-146, TTC Industrial Area, Electronic Zone, MIDC, Mahape, Navi Mumbai, Maharashtra, 400710. The company secretary and compliance officer, Nilesh Ranjan Jaywant, has digitally signed the regulatory filings and disclosures related to this share allotment.