Newsletter
Drone maker ideaForge Technology has secured orders worth over ₹100 crore from the Indian Army. The stock hit 10% intraday on the back of the order win.
The deets: ideaForge has received a big order of about ₹75 crore from the Indian Army for its new ZOLT drone.
For context, ZOLT is a next-gen drone that can fly long distances, gather surveillance information, and carry special equipment when needed.
ideaForge also got another order worth ₹30 crore for its SWITCH V2 drone. SWITCH V2 is already used by the Army, tested in real missions, and the new batch will be delivered within six months.
Big theme: ideaForge continues to face pressure as the company remained loss-making for the fifth straight quarter in Q2, although losses did narrow compared to the previous quarter.
Despite near-term weakness, the broader drone industry outlook remains strong. India’s drone sector could boost the country’s manufacturing potential to $23 billion by 2030. From 2025 to 2030, the industry will grow at a steadier pace, around 35% every year, and even more parts (60%) will be built locally.
