Reported Earnings • May 05
Full year 2026 earnings released Full year 2026 results: Revenue: ₹2.48b (up 54% from FY 2025). Net loss: ₹170.3m (loss narrowed 73% from FY 2025). Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in India. New Risk • May 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annuncio • May 04
ideaForge Technology Limited, Annual General Meeting, Aug 05, 2026 ideaForge Technology Limited, Annual General Meeting, Aug 05, 2026, at 11:00 Indian Standard Time. Price Target Changed • Apr 25
Price target decreased by 31% to ₹266 Down from ₹388, the current price target is provided by 1 analyst. New target price is 48% below last closing price of ₹515. Stock is up 41% over the past year. The company is forecast to post a net loss per share of ₹6.70 next year compared to a net loss per share of ₹14.41 last year. Annuncio • Apr 20
ideaForge Technology Limited to Report Q4, 2026 Results on Apr 30, 2026 ideaForge Technology Limited announced that they will report Q4, 2026 results on Apr 30, 2026 Reported Earnings • Jan 23
Third quarter 2026 earnings released: ₹7.75 loss per share (vs ₹5.56 loss in 3Q 2025) Third quarter 2026 results: ₹7.75 loss per share (further deteriorated from ₹5.56 loss in 3Q 2025). Revenue: ₹341.6m (up 94% from 3Q 2025). Net loss: ₹338.5m (loss widened 41% from 3Q 2025). Revenue is forecast to grow 56% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Aerospace & Defense industry in India. Annuncio • Jan 07
ideaForge Technology Limited to Report Q3, 2026 Results on Jan 22, 2026 ideaForge Technology Limited announced that they will report Q3, 2026 results on Jan 22, 2026 New Risk • Dec 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 29
Second quarter 2026 earnings released: ₹4.49 loss per share (vs ₹3.18 loss in 2Q 2025) Second quarter 2026 results: ₹4.49 loss per share (further deteriorated from ₹3.18 loss in 2Q 2025). Revenue: ₹440.5m (up 19% from 2Q 2025). Net loss: ₹196.2m (loss widened 43% from 2Q 2025). Revenue is forecast to grow 54% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Aerospace & Defense industry in India. Annuncio • Oct 14
ideaForge Technology Limited to Report Q2, 2026 Results on Oct 28, 2025 ideaForge Technology Limited announced that they will report Q2, 2026 results on Oct 28, 2025 Annuncio • Jul 14
ideaForge Technology Limited to Report Q1, 2026 Results on Jul 22, 2025 ideaForge Technology Limited announced that they will report Q1, 2026 results on Jul 22, 2025 Reported Earnings • Jul 09
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: ₹14.41 loss per share (down from ₹10.96 profit in FY 2024). Revenue: ₹1.61b (down 49% from FY 2024). Net loss: ₹622.8m (down 238% from profit in FY 2024). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in India. Annuncio • May 09
ideaForge Technology Limited, Annual General Meeting, Jul 31, 2025 ideaForge Technology Limited, Annual General Meeting, Jul 31, 2025. New Risk • May 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Annuncio • Apr 28
ideaForge Technology Limited to Report Q4, 2025 Results on May 08, 2025 ideaForge Technology Limited announced that they will report Q4, 2025 results on May 08, 2025 Reported Earnings • Jan 29
Third quarter 2025 earnings released: ₹5.56 loss per share (vs ₹3.49 profit in 3Q 2024) Third quarter 2025 results: ₹5.56 loss per share (down from ₹3.49 profit in 3Q 2024). Revenue: ₹225.1m (down 75% from 3Q 2024). Net loss: ₹240.2m (down 262% from profit in 3Q 2024). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in India. Annuncio • Jan 29
ideaForge Technology Limited Approves the Appointment of Nilesh Jaywant as Company Secretary and Compliance Officer, Effective January 30, 2025 ideaForge Technology Limited at its meeting held on January 28, 2025 approved the appointment of Mr. Nilesh Jaywant as the Company Secretary and Compliance officer of the Company with effect from January 30, 2025. Mr. Nilesh Jaywant is an Associate Member of Institute of Company Secretaries of India and holds a law degree from University of Mumbai. Mr. Nilesh Jaywant is a seasoned Governance and Legal Professional with over 15 years of experience. He has a proven track record of managing complex and transformative projects/assignments, across governance and legal matters including mergers & acquisitions. Throughout his career, he has played a pivotal role in spearheading strategic legal initiatives, ensuring regulatory compliance related to Corporate Laws, Companies Act, 2013, SEBI Listing Regulations, and strengthening governance frameworks. Mr. Nilesh Jaywant in his current employment with ideaForge Technology Limited handling various portfolios like Legal, Secretarial, Risk & Compliance. In his last employment with Huhtamaki India Limited, he was instrumental and played a key role in the matters related to the Corporate Governance, Mergers & Acquisitions, Factory Compliances, Real Estate, Investor Relations, Contract Negotiations, Litigation & Non-Litigation Management, Insolvency Litigations, Liasoning with various Regulatory and Government Authorities, implementation of various compliance software. Annuncio • Jan 14
ideaForge Technology Limited to Report Q3, 2025 Results on Jan 28, 2025 ideaForge Technology Limited announced that they will report Q3, 2025 results on Jan 28, 2025 New Risk • Jan 04
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹11m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risk Significant insider selling over the past 3 months (₹11m sold). Annuncio • Dec 03
ideaForge Technology Limited Announces Resignation of Sonam Gupta as Company Secretary & Compliance Officer, Effective January 29, 2025 ideaForge Technology Limited announced that Ms. Sonam Gupta has tendered her resignation from the post of Company Secretary & Compliance Officer and a Key Managerial Personnel (KMP) of the Company to pursue new career opportunity with effect from closing of business hours of January 29, 2025. Further, she has confirmed that there are no other material reasons for the resignation other than those provided in her resignation letter. Reason for change: Ms. Sonam Gupta has resigned to pursue a new career opportunity. Ms. Sonam Gupta had confirmed that there are no other material reasons for her resignation other than one specified above. Date of cessation: Cessation will be effective from the close of business hours on January 29, 2025. Reported Earnings • Oct 29
Second quarter 2025 earnings released: ₹3.18 loss per share (vs ₹0.21 profit in 2Q 2024) Second quarter 2025 results: ₹3.18 loss per share (down from ₹0.21 profit in 2Q 2024). Revenue: ₹429.4m (up 81% from 2Q 2024). Net loss: ₹137.3m (down ₹146.2m from profit in 2Q 2024). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Aerospace & Defense industry in India. Annuncio • Oct 16
ideaForge Technology Limited to Report Q2, 2025 Results on Oct 28, 2024 ideaForge Technology Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Annuncio • Jul 16
ideaForge Technology Limited to Report Q1, 2025 Results on Jul 29, 2024 ideaForge Technology Limited announced that they will report Q1, 2025 results on Jul 29, 2024 New Risk • Jul 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Reported Earnings • Jul 14
Full year 2024 earnings released: EPS: ₹10.96 (vs ₹8.55 in FY 2023) Full year 2024 results: EPS: ₹10.96 (up from ₹8.55 in FY 2023). Revenue: ₹3.14b (up 69% from FY 2023). Net income: ₹452.7m (up 42% from FY 2023). Profit margin: 14% (down from 17% in FY 2023). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Aerospace & Defense industry in India. Annuncio • Jul 10
ideaForge Technology Limited, Annual General Meeting, Aug 08, 2024 ideaForge Technology Limited, Annual General Meeting, Aug 08, 2024, at 11:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹831, the stock trades at a trailing P/E ratio of 78.7x. Average forward P/E is 46x in the Aerospace & Defense industry in India. Reported Earnings • May 16
Full year 2024 earnings released: EPS: ₹10.96 (vs ₹8.55 in FY 2023) Full year 2024 results: EPS: ₹10.96 (up from ₹8.55 in FY 2023). Revenue: ₹3.44b (up 85% from FY 2023). Net income: ₹452.7m (up 42% from FY 2023). Profit margin: 13% (down from 17% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Aerospace & Defense industry in India. Annuncio • May 05
ideaForge Technology Limited to Report Q4, 2024 Results on May 14, 2024 ideaForge Technology Limited announced that they will report Q4, 2024 results on May 14, 2024 Buy Or Sell Opportunity • Apr 30
Now 20% overvalued Over the last 90 days, the stock has fallen 3.3% to ₹689. The fair value is estimated to be ₹574, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 80% in 2 years. Earnings are forecast to grow by 318% in the next 2 years. Buy Or Sell Opportunity • Apr 01
Now 23% overvalued Over the last 90 days, the stock has fallen 13% to ₹726. The fair value is estimated to be ₹592, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 80% in 2 years. Earnings are forecast to grow by 318% in the next 2 years. Buy Or Sell Opportunity • Mar 14
Now 21% overvalued Over the last 90 days, the stock has fallen 10% to ₹715. The fair value is estimated to be ₹591, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 80% in 2 years. Earnings are forecast to grow by 318% in the next 2 years. Buy Or Sell Opportunity • Feb 19
Now 24% overvalued Over the last 90 days, the stock has fallen 5.3% to ₹732. The fair value is estimated to be ₹593, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 80% in 2 years. Earnings are forecast to grow by 318% in the next 2 years. Recent Insider Transactions • Feb 19
Non-Executive Nominee Director recently sold ₹19m worth of stock On the 10th of February, Ganapathy Subramaniam sold around 25k shares on-market at roughly ₹742 per share. This transaction amounted to 2.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹58m more than they bought in the last 12 months. Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: ₹3.49 (vs ₹2.17 loss in 3Q 2023) Third quarter 2024 results: EPS: ₹3.49 (up from ₹2.17 loss in 3Q 2023). Revenue: ₹909.0m (up ₹831.0m from 3Q 2023). Net income: ₹148.0m (up ₹226.0m from 3Q 2023). Profit margin: 16% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in India. Annuncio • Jan 24
ideaForge Technology Limited to Report Q3, 2024 Results on Feb 05, 2024 ideaForge Technology Limited announced that they will report Q3, 2024 results on Feb 05, 2024 New Risk • Nov 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (3.9% net profit margin). Significant insider selling over the past 3 months (₹31m sold). Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹0.21 (vs ₹1.10 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.21 (down from ₹1.10 in 2Q 2023). Revenue: ₹237.3m (down 41% from 2Q 2023). Net income: ₹8.92m (down 78% from 2Q 2023). Profit margin: 3.8% (down from 9.8% in 2Q 2023). Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Aerospace & Defense industry in India. Annuncio • Oct 31
ideaForge Technology Limited to Report First Half, 2024 Results on Nov 07, 2023 ideaForge Technology Limited announced that they will report first half, 2024 results on Nov 07, 2023 Reported Earnings • Aug 10
First quarter 2024 earnings released: EPS: ₹4.86 (vs ₹12.09 in 1Q 2023) First quarter 2024 results: EPS: ₹4.86 (down from ₹12.09 in 1Q 2023). Revenue: ₹970.7m (down 2.2% from 1Q 2023). Net income: ₹188.6m (down 54% from 1Q 2023). Profit margin: 19% (down from 42% in 1Q 2023). Revenue is forecast to grow 35% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Aerospace & Defense industry in India. Annuncio • Aug 03
ideaForge Technology Limited to Report Q1, 2024 Results on Aug 08, 2023 ideaForge Technology Limited announced that they will report Q1, 2024 results on Aug 08, 2023 Board Change • Jul 10
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Chairman Srikanth Velamakanni was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.