Slide 1: Exchange filing cover letter
www.ideaforgetech.com January 22, 2026 To, To, BSE Limited The National Stock Exchange of India Phiroze Jeejeebhoy Towers, Dalal Street, Limited “Exchange Plaza”, Bandra – Kurla Fort, Mumbai – 400 001. Complex, Bandra (EAST), Mumbai – 400 051 BSE Scrip Code: 543932 NSE SYMBOL: IDEAFORGE Sub: Investo
Slide 2: Investor Presentation Q3 FY26
Investor Presentation Q3 FY26 January 2026 ideaForge Strictly Private & Confidential
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by and is the sole responsibility of ideaForge Technology Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation o
Slide 4: CEO's Comments
CEO’s Comments “FY26 has been a defining year for ideaForge so far. We’ve added ~INR 4,400 Mn of orders to our order book YTD - the Ankit Mehta highest in our two-decade journey. In Q3 FY26 alone, we added INR 1,020+ Mn through large opportunities and CEO & ~INR 1,150+ Mn through multiple orders. Ou
Slide 5: Key Highlights – Strong Order Booking, User Trust, & Industry Tailwinds
Key Highlights – Strong Order Booking, User Trust, & Industry Tailwinds • Added ~INR 4,400 Mn to the order book in FY26 YTD (highest in our ~two-decade journey) • Execution of ~40-45% of open orders planned in Q4 FY26 with improved gross margin and positive EBITDA for FY26 • Impending display of our
Slide 6: Built Different, Engineered for Real-World Missions
Built Different, Engineered for Real-World Missions 19+ Years of Performance, Reliability, Autonomy and Resilience Capability Developed NETRA UAV with a Secured India’s largest Mini-VTOL Launched next-gen UAVs: NETRA 5 & Government of India entity contract at the time SWITCH V2 • Demonstrated NETRA
Slide 7: ideaForge – Built Different
ideaForge – Built Different Advancing Drone Technology for 20+ Years 1st 1st 1st #3 Built with Grit To indigenously develop To make high-altitude Indian UAV firm to have Globally in dual-use VTOL & Fixed-Wing VTOL drones in India multiple platforms with drones category1 Hybrid UAVs NATO Stock Number
Slide 8: Business & Operational Highlights Q3 FY26
Business & Operational Highlights Q3 FY26 www.ideaforgetech.com ideaForge Strictly Private & Confidential
Slide 9: Q3 FY26 Business Updates
Q3 FY26 Business Updates Demonstration of ZOLT & SWITCH ~100 crores worth EP* order for Signed a Strategic MoU with C- UAVs at the Republic Day Parade, ZOLT and SWITCH V2 with EW DAC to integrate drones into underscoring customers’ faith in Resilience, contributing to our India’s Emergency Response
Slide 10: Q3 FY26 Technology & Product
Q6 V2 Geo, Switch V2 & Q6 V3 Resilient Navigation & Communication - Multi-UAV (Swarming) capability under - Introduction of EW capabilities across development ISR platforms - In-house development and - SWITCH V2 and Q6 V3 EW variants deployment of CRPA, VPS, and resilient industrialization in progre
Slide 11: Financial Highlights Q3 & 9M FY26
Financial Highlights Q3 & 9M FY26 www.ideaforgetech.com ideaForge Strictly Private & Confidential
Slide 12: Q3 FY26 Key Performance Metrics
Q3 FY26 Key Performance Metrics All values in INR Mn Revenue from Operations Gross Profit & Gross Profit % EBITDA & EBITDA % 46.0% 50.0% 23.7% -71.4% -19.6% -75.8% 407.6 315.4 203.9 176.1 -79.9 80.9 74.7 -125.8 -239.1 Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26 Q3 FY26 Execution
Slide 13: 9M FY26 Key Performance Metrics
9M FY26 Key Performance Metrics All values in INR Mn Revenue from Operations Gross Margin & Gross Margin % EBITDA & EBITDA % 9M FY26 Revenue Mix 1,409.0 32.6% 42.0% -10.0% -55.3% Defence 42% 458.9 850.9 357.5 -141.2 Civil 58% -470.4 Defence 9M FY25 9M FY26 9M FY25 9M FY26 9M FY25 9M FY26 Civil Past
Slide 14: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement All values in INR Mn Profit & Loss Statement Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 Revenue From Operations 315.4 176.1 407.6 850.9 1,409.0 Cost Of Materials Consumed 236.9 111.2 261.1 558.1 801.7 Purchases of Stock-in-Trade - - -9.0 -9.0 - Changes In Inventorie
Slide 15: Key Management Team
Key Management Team Ankit Mehta Rahul Singh Ashish Bhat Vipul Joshi Chief Executive Officer VP - Engineering VP – R&D Chief Financial Officer • Promoter of the Company • Promoter of the Company • Promoter of the Company • Promoter of the Company • Associated with the Company • Associated with the Co
Slide 16: Board of Directors
Board of Directors Srikanth Velamakanni Mathew Cyriac Chairman & Independent Director Non-Executive Nominee Director Associated with Fractal Analytics as co-founder Previously associated with Blackstone Advisors Ankit Mehta Sutapa Banerjee CEO and Whole time Director Independent Director Associated
Slide 17: About ideaForge
About ideaForge www.ideaforgetech.com ideaForge Strictly Private & Confidential
Slide 18: Designed, built and tested in India to be operated anywhere in the world
Designed, built and tested in India to be operated anywhere in the world -22°F (-30 °C) No compromise Siachen Glacier on performance 19,685 ft+ (6,000 m+) Adapted to India’s AMSL diverse terrain and climate More than 750,000 Missions Completed 131°F (55 °C) Fully qualified UAVs to ensure survival in
Slide 19: ideaForge's Forte: Dual-Use Drone Platforms
ideaForge’s Forte: Dual-Use Drone Platforms Class/ Category Characteristics MTOW Range Endurance Class Characteristics (kg) (km) >100 kg | >500 km | >48 hrs (hrs) Dual-Use Platforms* HAPS YETI (TRL 6) Q6V2 Class Characteristics >600 kg | >500 km | >24 hrs Max Altitude AGL (m) Class Characteristics H
Slide 20: Strong Product Portfolio
Strong Product Portfolio Civil Dual Use Defence Q4i Q6 V2 NETRA 5 NETRA V4 PRO SWITCH SWITCH V2 Product Small category DGCA Small category DGCS ideaForge newest UAV Rugged & versatile VTOL fixed-wing UAV Upgraded fixed wing TC VTOL & most TC UAV. Quadcopter combines smart quadcopter built for for se
Slide 21: Enabling Customer Missions By Diverse Range Of Payloads
Enabling Customer Missions By Diverse Range Of Payloads ideaForge Payloads Payloads Enabled by ideaForge Partners Dual Payload Daylight Synthetic Aperture MARSS Hesai XT-32 MARSS Livox Avia Hyperspectral (EO/IR) Payload Radar (SAR) (LiDAR) (LiDAR) Payload Altum-PT Thermal Mapping Megaphone Drop Payl
Slide 22: ZOLT
Urban Law Enforcement Enhances visibility in complex urban spaces ISR in Combat Real-time intel support for tactical missions Infrastructure Security Monitor and secure critical infrastructure points ZOLT Disaster Response Rapid aerial aid in crisis Border Security Persistent surveillance Next Gener
Slide 23: YETI
YETI Game Changer Logistics UAV Platform www.ideaforgetech.com ideaForge Strictly Private & Confidential Images are for representation purposes only
Slide 24: ideaForge Drones Driving Customer Outcomes
ideaForge Drones Driving Customer Outcomes Day Surveillance Night Surveillance Target Tracking Asset Protection Crowd Management Railway Track Mapping IED Detection Situational Awareness Emergency Response Automated Challans Disaster Response Tower Inspection Change Monitoring Inspection & Maintenan
Slide 25: Driving Indigenization While Ensuring Security
Driving Indigenization While Ensuring Security 100 Airframe Motor & Propellor Battery Global Patents: 10 Patents: 07 Patents: 04 Patents Autopilot Command & Control Radio & Data Transmission High Range Centers (third-party) H/w S/w Patents: 03 Communication systems BlueFire Live! Video Stream & H/w
Slide 26: Driving Indigenization While Ensuring Security
Driving Indigenization While Ensuring Security Life Cycle Support to COO* of ideaForge Systems Designed Developed Manufactured include upgrades Subsystems Autopilot Radio & Data Transmission Payloads (EO/IR) GNSS Denied Navigation Operating Software 50%+ workforce in Technology & Product Development
Slide 27: Driven By Innovation & Indigenization DNA
Driven By Innovation & Indigenization DNA Started making UAVs in 2004 - No ecosystem or readymade off-the-shelf components and software available UAVs built around the philosophy of Performance, Reliability & Autonomy – Critical to have end-to-end control of the hardware and software Autopilot Commu
Slide 28: Building The Future Ecosystem For Drones
Building The Future Ecosystem For Drones Betting on Indian Technology www.ideaforgetech.com ideaForge Strictly Private & Confidential Images are for representation purposes only
Slide 29: Thank you
Script Code- BSE: 543932 NSE: IDEAFORGE Thank you Company: ideaForge Technology Limited Investor Relations: MUFG Intime India Private Limited Name: Vipul Joshi – Chief Financial Officer Name: Parth Patel/ Vidhi Vasa Email: Parth.Patel@in.mpms.mufg.com / Email: compliance@ideaforgetech.com Vidhi.Vasa