IDEAFORGE TECHNOLOGY LIMITED

BSE: IDEAFORGE543932ISIN INE349Y01013

Industrials
Aerospace & Defense
BSE 1000

Share price

₹715.00+53.70 (+8.12%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹997.00
52W low: ₹367.95
Off 52W high: -28.28%
1M return: +2.01%
3M return: -18.44%
6M return: -12.06%
1Y return: +50.34%
20D avg volume: 28,052
50 DMA: ₹727.42
200 DMA: ₹670.94

Key ratios Consolidated

Market cap: ₹3,555 Cr
Current price: ₹715.00
52W high / low: ₹997.00 / ₹367.95
Face value: ₹10.00
P/E: 118.44
P/B: 3.25
EPS (TTM): ₹6.04
Book value / share: ₹220.27
ROE: —
ROCE: -2.60%
Operating margin: —
Net margin: —
Debt / equity: 0.12
Net debt: ₹39.18 Cr
Interest cover: -4.01
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 368.9 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	91.29	68.59	141.04	31.55	40.76	12.78	20.31	17.61	37.10	86.19	102.30	90.90
	6.27	1.95	12.45	2.61	3.29	3.94	4.43	4.89	5.84	6.00	5.36	6.61
	97.56	70.54	153.49	34.16	44.05	16.72	24.74	22.51	42.94	92.19	107.66	97.50
	90.12	82.50	92.75	70.09	63.52	42.01	50.43	42.78	60.94	90.62	93.52	77.36
	48.12	38.52	51.10	23.69	26.11	6.01	18.01	11.12	12.98	56.08	49.97	47.64
	0.00	0.00	-0.04	0.00	0.90	0.00	0.00	—	—	—	—	—
	16.58	15.10	14.98	15.92	15.07	12.49	13.52	12.80	13.68	11.68	19.03	9.77
	1.04	2.04	1.64	1.05	0.92	0.37	0.25	0.23	0.78	0.27	0.29	0.37
	14.75	14.21	11.78	10.97	10.55	9.78	8.03	7.47	7.22	6.62	5.82	5.67
	16.03	16.20	18.73	18.08	16.60	14.48	15.61	12.77	11.27	14.55	10.05	19.50
	7.44	-11.96	60.75	-35.93	-19.46	-25.29	-25.69	-20.28	-18.00	1.57	14.14	20.15
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	7.44	-11.96	60.75	-35.93	-19.46	-25.29	-25.69	-20.28	-18.00	1.57	14.14	20.15
	0.98	9.38	0.75	-2.08	0.15	1.74	0.01	3.74	4.27	0.40	3.81	5.35
	6.46	-2.59	59.99	-33.85	-19.62	-23.56	-25.71	-24.02	-13.73	1.17	10.33	14.80
	1.30	-0.59	13.72	-7.75	-4.49	-5.40	-5.92	-5.56	-3.18	0.27	2.40	3.49
Key metrics
	23.23	4.29	74.17	-23.91	-7.99	-15.14	-17.41	-12.58	-10.00	8.46	20.25	26.19
	25.40%	6.30%	52.60%	-75.80%	-19.60%	-118.50%	-85.70%	-71.40%	-27.00%	9.80%	19.80%	28.80%
	7.10%	-3.80%	42.50%	-107.30%	-48.10%	-184.40%	-126.60%	-136.40%	-37.00%	1.40%	10.10%	16.30%
	0.80%	—	10.20%	—	-3.20%	—	-4.10%	—	—	—	—	—
	124.00%	436.70%	594.40%	79.20%	9.90%	-85.20%	-80.10%	-80.60%	—	—	—	—
	132.90%	89.00%	333.30%	-40.90%	-42.90%	-2,113.70%	-348.90%	-262.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	332.47	226.13	161.22	314.00
	23.28	22.29	21.16	30.41
	355.75	248.42	182.38	344.41
	335.46	268.36	244.77	283.34
	161.43	106.91	98.19	146.64
	-0.04	-0.93	0.00	—
	62.58	58.47	51.66	52.52
	5.77	3.98	1.53	3.65
	51.71	43.07	29.34	21.17
	69.04	67.87	54.20	48.73
	20.30	-19.94	-62.40	61.07
	0.00	0.00	0.00	0.00
	20.30	-19.94	-62.40	61.07
	9.03	-2.91	0.12	15.80
	30.01	-17.03	-62.28	45.27
	6.68	-3.90	-14.41	10.96
Key metrics
	77.78	27.11	-31.53	85.89
	23.39%	12.00%	-19.60%	27.40%
	9.03%	-7.50%	-38.60%	14.40%
	—	-2.60%	-9.80%	—
	263.51%	40.30%	-48.70%	—
	—	72.70%	-237.60%	—
	—	-151.77	-164.51	—
	—	3.72	1.23	—
	—	0.12	0.00	—
	—	39.18	-15.87	—
	—	368.9	320.3	—
Balance sheet
	—	798.72	671.82	—
	—	483.25	415.84	—
	—	32.95	15.87	—
	—	126.22	56.02	—
	—	143.11	94.22	—
	—	89.89	63.18	—
	—	31.88	27.64	—
	—	40.78	8.74	—
	—	184.32	48.21	—
	—	72.13	0.00	—
	—	72.13	0.00	—
	—	0.00	0.00	—
	—	599.04	608.68	—
Cash flow
	—	-63.41	-76.79	—
	—	15.17	-68.07	—
	—	60.96	-7.59	—
	—	88.36	87.72	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	91.28	68.42	140.85	31.55	41.67	12.78	23.77	18.50	37.20	86.47	104.60	91.61
	6.20	1.87	12.36	2.55	3.20	3.85	4.49	4.89	5.84	6.00	5.36	6.61
	97.48	70.29	153.22	34.10	44.87	16.63	28.26	23.39	43.04	92.46	109.96	98.22
	89.61	81.97	91.49	67.45	60.17	39.42	49.66	40.68	59.36	89.92	93.50	76.95
	48.11	38.18	50.04	24.21	23.59	7.62	17.19	11.79	13.03	56.08	50.20	47.37
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	16.29	15.20	13.95	14.94	13.95	11.45	12.93	11.42	13.43	11.68	19.02	9.77
	1.04	2.04	1.64	1.05	0.92	0.37	0.25	0.23	0.78	0.27	0.29	0.37
	14.73	14.19	11.75	10.94	10.53	9.76	8.00	7.44	7.20	6.59	5.82	5.67
	15.92	15.92	18.66	16.48	14.62	13.00	13.60	11.88	9.85	13.67	9.01	19.10
	7.87	-11.68	61.73	-33.35	-15.30	-22.78	-21.41	-17.29	-16.31	2.54	16.46	21.27
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	7.87	-11.68	61.73	-33.35	-15.30	-22.78	-21.41	-17.29	-16.31	2.54	16.46	21.27
	0.12	-9.38	1.31	-2.00	-0.24	1.00	-1.01	3.38	4.11	0.64	4.67	5.35
	7.75	-2.31	60.42	-31.36	-15.06	-21.78	-20.40	-20.67	-12.20	1.90	11.79	15.92
	1.56	-0.53	13.82	-7.18	-3.45	-4.99	-4.70	-4.78	-2.82	0.44	2.74	3.76
Key metrics
	23.64	4.55	75.12	-21.36	-3.85	-12.65	-13.16	-9.62	-8.33	9.40	22.57	27.31
	25.90%	6.70%	53.30%	-67.70%	-9.20%	-99.00%	-55.40%	-52.00%	-22.40%	10.90%	21.60%	29.80%
	8.50%	-3.40%	42.90%	-99.40%	-36.10%	-170.40%	-85.80%	-111.70%	-32.80%	2.20%	11.30%	17.40%
	0.80%	—	10.00%	—	-2.40%	—	-3.30%	—	—	—	—	—
	119.10%	435.40%	492.60%	70.50%	12.00%	-85.20%	-77.30%	-79.80%	—	—	—	—
	151.50%	89.40%	396.20%	-51.70%	-23.40%	-1,246.30%	-273.00%	-229.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	332.10	226.85	165.94	317.01
	22.98	21.97	21.22	30.41
	355.09	248.82	187.16	347.43
	330.52	258.52	239.62	282.91
	160.54	105.45	98.09	146.60
	0.00	0.00	0.00	—
	60.38	54.28	49.45	52.52
	5.77	3.98	1.53	3.65
	51.61	42.98	29.22	21.17
	66.98	62.75	48.99	47.29
	24.57	-9.71	-52.47	64.51
	0.00	0.00	0.00	—
	24.57	-9.71	-52.47	64.51
	-9.95	-1.93	1.10	16.67
	34.50	-7.77	-51.37	47.85
	7.67	-1.78	-11.89	11.58
Key metrics
	81.95	37.25	-21.72	89.33
	24.68%	16.40%	-13.10%	28.20%
	10.39%	-3.40%	-31.00%	15.10%
	—	-0.90%	-8.00%	—
	243.36%	36.70%	-47.70%	—
	—	84.90%	-207.40%	—
	—	-137.93	-153.28	—
	—	6.38	1.28	—
	—	0.12	0.00	—
	—	45.76	-11.56	—
	—	363.0	313.3	—
Balance sheet
	—	819.72	684.96	—
	—	470.23	411.54	—
	—	26.37	11.56	—
	—	127.01	59.51	—
	—	138.79	90.68	—
	—	89.86	63.17	—
	—	31.66	27.33	—
	—	40.24	7.76	—
	—	183.83	47.94	—
	—	72.13	0.00	—
	—	72.13	0.00	—
	—	0.00	0.00	—
	—	620.53	622.09	—
Cash flow
	—	-49.59	-65.51	—
	—	0.25	-78.29	—
	—	60.96	-7.59	—
	—	88.34	87.77	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +243.36%
Profit YoY (TTM): +144.28%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +263.51%
Profit YoY (TTM): +132.30%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 25.26%

Quarter	September 2026	10 Jul 2026	March 2026	December 2025	September 2025	June 2025	March 2025	December 2024	September 2024
Promoter %	25.26%	25.26%	29.04%	28.97%	28.97%	29.11%	29.18%	29.23%	29.24%

Holder	Type	Holding	Previous	Change
Ankit Mehta	Promoter	7.42%	7.42%	0.00%
FLORINTREE ENTERPRISE LLP	Public	7.22%	7.22%	0.00%
Rahul Singh	Promoter	7.21%	7.21%	0.00%
Ashish Ramesh Bhat	Promoter	6.82%	6.82%	0.00%
VIPUL JOSHI	Public	3.73%	3.73%	0.00%
INFOSYS LIMITED	Public	3.31%	3.32%	-0.01%
HDFC MUTUAL FUND - HDFC DEFENCE FUND	Public	3.04%	3.05%	-0.01%
BANDHAN SMALL CAP FUND	Public	2.81%	1.92%	+0.89%
FRANKLIN INDIA SMALL CAP FUND	Public	2.43%	1.39%	+1.04%
RAVI SRIRAMAKRISHNA BHAGAVATULA	Promoter Group	2.08%	2.08%	0.00%
AROHI EMERGING INDIA MASTER FUND	Public	1.90%	1.90%	0.00%
SUJATA VEMURI	Promoter Group	1.73%	1.73%	0.00%
GANAPATHY SUBRAMANIAM	Public	1.71%	1.73%	-0.02%
MAHINDRA MANULIFE SMALL CAP FUND	Public	1.60%	1.49%	+0.11%
ACM GLOBAL FUND VCC	Public	1.09%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Hindustan Aeronautics Limited	3,39,403	5,075.00	36.41	13.70%	+7.42% TTM	+12.16% TTM	+8.35%
Bharat Electronics Ltd.	2,90,271	397.10	43.46	31.90%	+20.28% TTM	+12.40% TTM	-4.34%
Bharat Dynamics Limited S	39,479	1,077.00	70.10	7.20%	-18.69% TTM	-7.13% TTM	-27.34%
Garden Reach Shipbuilders & Engineers Limited S	24,610	2,148.40	30.74	36.80%	+39.64% TTM	+42.86% TTM	-15.96%
Data Patterns (India) Limited S	22,853	4,082.00	85.29	21.00%	+33.81% TTM	+24.90% TTM	+51.15%
SIGMA ADVANCED SYSTEMS LIMITED S	17,815	940.15	254.78	46.60%	+32.27% TTM	-51.48% TTM	+325.02%
Apollo Micro Systems Limited	16,157	434.80	123.30	13.50%	+77.12% TTM	+63.98% TTM	+56.46%
Zen Technologies Ltd.	15,581	1,725.70	65.83	15.60%	+4.17% TTM	-12.80% TTM	+22.66%
Astra Microwave Products Ltd.	14,988	1,578.60	79.28	21.00%	+4.02% TTM	+16.28% TTM	+48.95%
Aequs Limited	14,741	219.80	-72.97	1.10%	—	—	—
Paras Defence and Space Technologies Limited	10,201	1,265.85	95.31	16.30%	+41.68% TTM	+56.45% TTM	+82.52%
Unimech Aerospace and Manufacturing Limited	9,014	1,770.80	102.28	12.30%	+40.00% TTM	+10.76% TTM	+77.46%
AXISCADES TECHNOLOGIES LIMITED	8,126	1,910.60	222.97	15.70%	+4.61% TTM	-54.09% TTM	+23.11%
TONBO IMAGING INDIA LIMITED	7,321	1,278.05	—	—	—	—	—
Mishra Dhatu Nigam Limited	7,292	389.25	54.03	8.80%	+18.17% TTM	+13.89% TTM	+2.38%
Centum Electronics Ltd	6,282	4,255.65	126.60	20.70%	-2.14% TTM	+525.07% TTM	+72.77%
Cyient DLM Limited	5,981	753.40	71.22	10.50%	-1.51% TTM	+2.85% TTM	+65.78%
Rossell Techsys Limited	5,487	1,455.70	213.25	32.70%	+82.66% TTM	+68.79% TTM	+132.87%
Avantel Limited	3,686	138.70	186.92	8.60%	+14.57% TTM	-41.41% TTM	-17.29%
IDEAFORGE TECHNOLOGY LIMITED	3,555	715.00	118.44	-2.60%	+263.51% TTM	+132.30% TTM	+50.34%
Jaykay Enterprises Limited	2,757	211.60	15.97	30.00%	+117.55% TTM	+818.57% TTM	—
CFF FLUID CONTROL LIMITED S	2,062	983.00	—	19.80%	—	—	+41.69%
Sika Interplant Systems Ltd.	1,902	897.00	54.88	30.60%	+0.45% TTM	+9.69% TTM	-23.60%
NIBE LIMITED	1,821	1,174.40	-140.29	4.60%	-5.17% TTM	-163.01% TTM	-1.09%
MILLWORKS TECHNOLOGIES LIMITED	1,732	983.30	—	—	—	—	—

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Audio Recording of the Earnings call for Quarter ended September 30, 2026.4 Nov 2026 · Company Update / Analyst / Investor Meet
Investor Presentation for the Unaudited Financial Results for the quarter and half year ended September 30, 20262 Nov 2026 · Company Update / Investor Presentation
Press release for the Unaudited Financial Results for the quarter and half year ended September 30, 20262 Nov 2026 · Company Update / Press Release / Media Release
Unaudited Financial Results for the quarter and half year ended September 30, 20262 Nov 2026 · Result / Financial Results
Outcome of the Board Meeting for the adoption of Financial Results for the quarter and half year ended September 30, 2026.2 Nov 2026 · Board Meeting / Outcome of Board Meeting
We enclose herewith the details of Analyst/Institutional Investor meetings under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.2 Nov 2026 · Company Update / Analyst / Investor Meet
Intimation of Earnings Conference Call to discuss Unaudited (Standalone & Consolidated) Financial Results for the quarter and half year ended September 30, 2026.26 Oct 2026 · Company Update / Analyst / Investor Meet
Termination of Joint Venture Agreement between ideaForge Technology Inc.(wholly-owned subsidiary of ideaForge Technology Limited) and First Breach Inc.23 Oct 2026 · Company Update / General
Ideaforge Technology Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 02/11/2026 ,inter alia, to consider and approve Declaration Of Audited ....22 Oct 2026 · Board Meeting / Board Meeting
Resignation of Mr. Nilesh Ranjan Jaywant as the Company Secretary, Compliance Officer and KMP of the Company.14 Oct 2026 · Company Update / Resignation of Company Secretary / Compliance Officer
Allotment of Equity Shares pursuant to ESOP Scheme of ideaForge Technology Limited14 Oct 2026 · Company Update / Allotment of ESOP / ESPS
ideaForge has entered into loan agreement with Technology Department Board for availing loan of Rs. 151 Cores in tranches for YETI- Heavy lift long range autonomous aerial logistics vehicle.9 Oct 2026 · Company Update / General
Compliance Certificate under Reg. 74(5) of SEBI (DP) Regulation, 2018 for the quarter and half year ended September 30, 2026.7 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on October ....5 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on October 02, 2026 for Ankit Mehta5 Oct 2026 · Insider Trading / SAST / Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
Intimation under Regulation 30 - Order received by the ideaForge Technology Limited (the Company) under section 74 of the CGST Act.2 Oct 2026 · Company Update / General
Intimation regarding the receipt of order received by ideaForge Technology Limited aggregating to Rs. 23.62 Crore.30 Sep 2026 · Company Update / Award of Order / Receipt of Order
Intimation of closure of Trading window for quarter and half year ended September 30, 2026.25 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Allotment of Equity Shares pursuant to ESOP scheme of ideaForge Technology Limited22 Sep 2026 · Company Update / Allotment of ESOP / ESPS
We enclose herewith the details of Analyst/Institutional Investor meetings under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.17 Sep 2026 · Company Update / Analyst / Investor Meet
Transcript of the Earnings Call for the quarter ended June 30, 2026.18 Aug 2026 · Company Update / Earnings Call Transcript
Allotment of Equity shares pursuant to the ESOP scheme of ideaForge Technology Limited14 Aug 2026 · Company Update / Allotment of ESOP / ESPS
Audio recording of the Earnings Call for the quarter ended June 30, 2026.11 Aug 2026 · Company Update / Analyst / Investor Meet
Press Release for quarter ended June 30, 2026.10 Aug 2026 · Company Update / Press Release / Media Release
Investor Presentation for the quarter ended June 30, 2026.10 Aug 2026 · Company Update / Investor Presentation
Unaudited Financial Results of the Company (Standalone & Consolidated) for the quarter ended June 30, 2026.10 Aug 2026 · Result / Financial Results
Unaudited Financial Results for the Quarter ended June 30, 2026.10 Aug 2026 · Board Meeting / Outcome of Board Meeting
Voting Results of 19th Annual General Meeting and Scrutinizer''s Report.5 Aug 2026 · AGM/EGM / AGM
Proceeding of the 19th Annual General Meeting of ideaForge Technology Limited.5 Aug 2026 · AGM/EGM / AGM
Intimation of Earnings Conference Call to discuss Unaudited (Standalone & Consolidated) Financial Results for the quarter ended June 30, 2026.4 Aug 2026 · Company Update / Analyst / Investor Meet
Receipt of Letter of Intent from Technology Development Board to ideaForge Technology Limited.31 Jul 2026 · Company Update / General
Ideaforge Technology Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 10/08/2026 ,inter alia, to consider and approve Adoption of Unaudited ....30 Jul 2026 · Board Meeting / Board Meeting
Allotment of Equity shares under the Employee stock option scheme of ideaForge Technology Limited30 Jul 2026 · Company Update / Allotment of ESOP / ESPS
Intimation regarding change in Investor Relations (IR) Agency29 Jul 2026 · Company Update / General
Post - dispatch Newspaper publication of the Notice of the Annual General Meeting for the FY 2025-26.14 Jul 2026 · Company Update / Newspaper Publication
Business Responsibility and sustainability Report for the Financial Year 2025-2613 Jul 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Annual Report for the Financial Year 2025-26 of ideaForge Technology Limited13 Jul 2026 · Others / Reg. 34 (1) Annual Report
Notice of the 19th Annual General Meeting along with Annual Report of ideaForge Technology Limited for the year 2025-2613 Jul 2026 · AGM/EGM / AGM
Allotment of equity shares pursuant to QIP of ideaForge Technology Limited.10 Jul 2026 · Company Update / Allotment of Equity Shares
Outcome of Fund Raising Committee held on July 10, 2026.10 Jul 2026 · Company Update / General

Board meetings

2 Nov 2026 Board Meeting - Financial Results
10 Aug 2026 Board Meeting - Financial Results