Slide 1: Exchange filing cover letter
www.ideaforgetech.com October 28, 2025 To, To, BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street, “Exchange Plaza”, Bandra – Kurla Complex, Fort, Mumbai – 400 001. Bandra (EAST), Mumbai – 400 051 BSE Scrip Code: 543932 NSE SYMBOL: IDEAFORGE Sub: Investo
Slide 2: Investor Presentation Q2 FY26
Investor Presentation Q2 FY26 October 2025 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: 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 5: Q2 FY26 Performance Highlights
Q2 FY26 Performance Highlights CEO’s Review “ideaForge has been built with grit and our perseverance. The consistent investment in innovation of substance has paid off so far in our journey. While H1 of FY 2026 has seen the reemergence of the demand signals after a muted FY 2025 for the Indian drone
Slide 6: Q2 FY26 Key Performance Metrics
Q2 FY26 Key Performance Metrics All values in INR Mn Revenue from Operations Gross Profit & Gross Profit % EBITDA & EBITDA % 407.6 24.6% 61.7% 50.0% -26.9% -118.5% -19.6% 371.0 203.9 127.8 91.2 78.9 -79.9 -99.9 -151.4 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 PAT & PAT
Slide 7: H1 FY26 Key Performance Metrics
H1 FY26 Key Performance Metrics All values in INR Mn Revenue from Operations Gross Margin & Gross Margin % EBITDA & EBITDA % H1 FY26 Revenue Mix 1232.9 30.7% 52.8% -1.2% -43.2% 378.0 -15.3 282.8 Civil 41% 535.4 Defence 59% -231.3 H1 FY25 H1 FY26 H1 FY25 H1 FY26 H1 FY25 H1 FY26 www.ideaforgetech.com
Slide 8: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement All values in INR Mn Profit & Loss Statement Q2 FY26 Q2 FY25 Q1 FY26 H1FY26 H1FY25 Revenue From Operations 407.6 371.0 127.8 535.4 1232.9 Cost Of Materials Consumed 261.1 129.8 60.1 321.2 690.6 Purchases of Stock-in-Trade -9.0 0.0 0.0 -9.0 0.0 Changes In Inventor
Slide 9: Consolidated Balance Sheet
Consolidated Balance Sheet All values in INR Mn Particulars 30-Sep-25 31-Mar-25 Particulars 30-Sep-25 31-Mar-25 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity (a) Property, Plant And Equipment 280.3 276.4 Equity Share Capital 432.4 430.8 (b) Right Of Use Assets 139.5 171.9 Instruments Entir
Slide 10: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement All values in INR Mn Particulars Sep-25 Sep-24 Cash Flows From Operating Activities Profit/(Loss) Before Tax -447.6 -164.3 Adjustment For Non-Operating Items 178.1 55.4 Operating Profit Before Working Capital Changes -269.5 -108.8 Changes In Working Capital -29.3 -21
Slide 11: Business & Operational Highlights Q2 FY26
Business & Operational Highlights Q2 FY26 www.ideaforgetech.com ideaForge Strictly Private & Confidential
Slide 12: Q2 FY26 Business Updates
Q2 FY26 Business Updates Deployment of ideaForge Launched first edition of UAVs for Disaster ideaForge’s customer event Response Operations in Consistent orders in flow PRAGYA with Geospatial multiple states during from Command Level EP theme and Q6 V2 Geo recent calamities and run-rate business pro
Slide 13: Q2 FY26 Technology & Product
Q6 V2 Geo, Switch V2 & Q6 V3 Resilient Navigation & Communication - Q6 V2 Geo UAV launched with - Multiple successful field trials to Shodham M61 payload demonstrate Electronic Warfare (EW) - SWITCH V2 and Q6 V3 industrialization resistant capabilities in progress for Pilot series FLYGHT (DaaS & Saa
Slide 14: 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 15: 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 16: About ideaForge
About ideaForge www.ideaforgetech.com ideaForge Strictly Private & Confidential
Slide 17: 18+ Years of Building along with Customers
18+ Years of Building along with Customers • Founders built the first quadrotor drone • Received US$ 5.1 mn capital contract from (in India) to enter a college fest* GOI • Got listed on NSE & BSE in July’23 with listing day gain of • Incorporation of the company • Developed first hybrid VTOL with fi
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) (hrs) >100 kg | >500 km | >48 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 96 Airframe Motor & Propellor Battery Global Patents: 10 Patents: 07 Patents: 03 Patents Autopilot Command & Control Radio & Data Transmission High Range Centers (third-party) H/w S/w Patents: 01 Communication systems BlueFire Live! Video Stream & H/w S
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