Latest news with #EmergencyProcurement
Business Standard
10 hours ago
- Business
- Business Standard
Ideaforge Tech drops after reporting net loss of Rs 23 cr in Q1 FY26
Ideaforge Technology declined 6.46% to Rs 509.30 after the company reported consolidated net loss of Rs 23.5 crore in Q1 FY26 compared with net profit of Rs 1.17 crore in Q1 FY25. Revenue from operations declined 85.17% YoY to Rs 12.78 crore during the quarter. The company reported a pre-tax loss of Rs 25.29 crore in Q1 FY26 compared with pre-tax profit of Rs 1.56 crore in Q1 FY25. The firm reported a negative EBITDA of Rs 15.14 crore in Q1 June 2025, compared with a positive EBITDA of Rs 8.46 crore in Q1 June 2024. The EBITDA margin stood at -118.5% in Q1 FY26 against 9.8% in Q1 FY25. As on 30th June 2025, the companys order book stood at Rs 144.8 crore Ankit Mehta, CEO said, The first quarter of FY 2026 marked a positive start for the financial year and reinforced ideaForges resilience: both in technology and in business. Ideaforge secured a significant Rs 137 crore order under the Governments 5th cycle of Emergency Procurement. This order followed rigorous technical evaluations and country-of-origin checks, highlighting our standing as a trusted partner to the Indian armed forces. The quarter also saw our platforms play a role in Operation Sindoor, proving effective in the high-stakes battlefield scenario, reaffirming the resilience of our indigenous product development and deep-tech foundation. Post-Operation Sindoor, government procurement has received a major boost, with the allocation of Rs 40,000 crore for the 6th cycle of Emergency Procurement for the armed forces. Additionally, the government has announced an RDI Fund of Rs 1 lakh crore, which will further boost innovation efforts in the industry. The next phase of PLI is also expected to be rolled out for drone manufacturers, which will be a major tailwind for the industry and ideaForge. Ideaforge Technology (ideaForge) is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India.
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Business Standard
14 hours ago
- Business
- Business Standard
This smallcap drone maker stock plunges 7% on weak Q1 show; details here
Ideaforge Technology share price tanked after posting weak set of results in the June quarter of financial year 2026 (Q1FY26). SI Reporter New Delhi Ideaforge Technology share price: Ideaforge Technology share price was under pressure on Wednesday, July 23, 2025, with the scrip dropping 7.01 per cent to an intraday low of ₹506.25 per share. At 10:00 AM, Ideaforge Technology share price was trading 5.79 per cent lower at ₹512.90. In comparison, BSE Sensex was trading 0.20 per cent higher at 82,348.30 levels. What led to the fall in Ideaforge Technology share price today? Ideaforge Technology share price tanked after posting weak set of results in the June quarter of financial year 2026 (Q1FY26). The company posted a net loss of ₹25.9 crore in the June quarter of FY26, as against a profit of ₹1.1 crore in the same quarter last year (Q1FY25). The revenue, too, dipped 85.2 per cent year-on-year (Y-o-Y) to ₹12.7 crore in Q1FY26, from ₹86.1 crore in the same quarter previous fiscal year. At the operating level, Ideaforge Technology posted an Ebitda loss of ₹15.14 crore in Q1FY26. Despite the weak Q1 show, Ankit Mehta, CEO of Ideaforge Technology said, 'The first quarter of FY2026 marked a positive start for the financial year and reinforced ideaForge's resilience: both in technology and in business. ideaForge secured a significant ₹137 crore order under the Government's 5th cycle of Emergency Procurement. This order followed rigorous technical evaluations and country-of-origin checks, highlighting our standing as a trusted partner to the Indian armed forces. The quarter also saw our platforms play a role in Operation Sindoor, proving effective in the high-stakes battlefield scenario, reaffirming the resilience of our indigenous product development and deep-tech foundation. He added, 'Post-Operation Sindoor, government procurement has received a major boost, with the allocation of ₹40,000 crore for the 6th cycle of Emergency Procurement for the armed forces. Additionally, the government has announced an RDI Fund of ₹1 lakh crore, which will further boost innovation efforts in the industry. The next phase of PLI is also expected to be rolled out for drone manufacturers, which will be a major tailwind for the industry and ideaForge. Our strategic and operational efforts are well on track, and we are committed to delivering long-term and meaningful value to our stakeholders.' ALSO READ | About Ideaforge Technology ideaForge is a pioneer and market leader in India's unmanned aircraft systems (UAS) sector, with the largest deployment of indigenous drones across the country. Backed by prominent investors such as Qualcomm, Infosys, and Florintree, the company has established a strong presence in both civil and military drone applications. ideaForge UAVs are widely used for surveillance and mapping, with one of its drones taking off every three minutes across India. In 2024, ideaForge was ranked third globally among top dual-use (civil and defence) drone manufacturers by Drone Industry Insights, a leading global drone market research firm.
Time of India
25-06-2025
- Business
- Time of India
From drones and radars to rifles: Indian forces to get 13 weapons worth ₹1,982 crore under fast-track route. Check full list
The Ministry of Defence has signed 13 contracts worth ₹1,982 crore for the Indian Army under the fifth phase of Emergency Procurement (EP-5). These contracts aim to quickly supply weapons and equipment critical for counter-terrorism and counter-drone operations, with delivery timelines capped at 12 months. Emergency Procurement targets urgent needs The emergency procurement route is designed to meet the immediate needs of the armed forces by cutting through lengthy procedures. In EP-5, the focus is on strengthening frontline readiness, mobility, protection, and firepower in operational areas. The newly signed contracts are part of this approach and include systems to improve situational awareness and combat effectiveness. A ministry official told The Times of India, the emergency procurement route 'continues to be a key enabler in bridging urgent capability gaps and ensuring timely induction of vital operational equipment.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tiger meeting her former zookeeper after 5 years. See what happens next! Story To Hear Undo New weapon systems acquired under EP-5 As part of the ₹1,982 crore worth of EP-5 contracts, the following systems have been procured for the Indian Army: Igla-1S VSHORADS (Very Short-Range Air Defence Systems) Live Events • Range: Up to 6 km • Assembled in India by Adani Defence Integrated Drone Detection and Interdiction Systems (IDDIS) • For neutralizing hostile drones Low-Level Lightweight Radars • To enhance aerial surveillance Night Sights for Rifles • To aid operations in low-light conditions Bulletproof Jackets and Ballistic Helmets • To improve soldier survivability Quick-Reaction Fighting Vehicles • For mobility in combat zones Nagastra-1R Kamikaze Drones • Quantity: ~450 units • Cost: ₹158 crore • Manufacturer: Solar Defence and Aerospace Ltd Switch Mini-UAVs (Hybrid VTOL Surveillance Drones) • Cost: ₹137 crore • Manufacturer: ideaForge Technology The ministry noted that the equipment being inducted is 'modern and mission-critical' and will enhance combat effectiveness in counter-terror environments. Air Force deployed advanced weapons during May strikes Separately, the Indian Air Force used a range of air-to-ground precision munitions during its strikes between May 7 and 10. These included: BrahMos Supersonic Cruise Missiles (Indo-Russian origin) Crystal Maze-2 Missiles (Israel) Rampage Air-to-Ground Missiles (Israel) SCALP Cruise Missiles (France) HAMMER Precision-Guided Munitions (France) Next phase of procurement much larger The Ministry is now working on a sixth phase (EP-6) with an estimated ceiling of ₹40,000 crore. This phase aims to further replenish and upgrade the capabilities of the Army, Navy , and Air Force. As per TOI, EP-6 may include imported systems, each limited to ₹300 crore per contract. The fast-track procurement model remains a key part of India's military modernisation drive, addressing urgent operational requirements across services.
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First Post
25-06-2025
- Business
- First Post
Counter-drone systems, VSHORADS...: India signs Rs 1,981 cr emergency deals to boost Army's counter-terror capabilities
India has signed 13 emergency contracts worth ₹1,981.90 crore to strengthen the Indian Army's counter-terrorism capabilities. The fast-tracked deals include drones, anti-drone systems, radars, and bulletproof gear. This comes days after Operation Sindoor targeting terror camps in Pakistan. read more A staff cleans Akash, a medium-range mobile surface-to-air missile defense system developed by the Defence Research and Development Organisation (DRDO). The Akash played a significant role in Operation Sindoor, thwarting Pakistan's rain of drones and missiles. File image/AFP The Ministry of Defence has signed 13 contracts worth ₹1,981.90 crore under the Emergency Procurement (EP) mechanism to boost the Army's counter-terrorism capabilities, The Indian Express reported. According to the report, the deals cover a wide range of equipment, including remotely piloted aerial vehicles (RPAVs), loitering munitions, drones, anti-drone systems, very short-range air defence systems (VSHORADs), and radars. These are aimed at enhancing the troops' situational awareness, mobility, firepower, and protection during counter-terror operations. STORY CONTINUES BELOW THIS AD The move comes shortly after India launched Operation Sindoor, during which Indian forces targeted nine terror camps in Pakistan. This triggered three days of retaliatory strikes between the two countries before a ceasefire was reached. India inflicted heavy damage on several Pakistani bases and military sites. The emergency procurement process allows for the fast-tracked delivery of equipment, unlike the standard defence procurement procedure, which typically takes longer. This marks the sixth phase of such emergency acquisitions. According to the Defence Ministry, key equipment being acquired under the EP mechanism includes Integrated Drone Detection and Interception Systems (IDDIS), Low-Level Lightweight Radars (LLLR), and VSHORAD (Very Short Range Air Defence) launchers and missiles. The list also features loitering munitions with Vertical Take-Off and Landing (VTOL) capability, bulletproof jackets, ballistic helmets, Quick Reaction Fighting Vehicles (QRFVs) — in both heavy and medium variants — and night sights for rifles. In a statement issued on Tuesday, the Defence Ministry confirmed that the 13 contracts signed under the EP mechanism are valued at ₹1,981.90 crore, finalised from a total approved outlay of ₹2,000 crore for the Indian Army. The ministry added that these acquisitions were completed within compressed timelines to ensure rapid enhancement of operational capability. STORY CONTINUES BELOW THIS AD
Hans India
25-06-2025
- Business
- Hans India
MoD closes Rs 1,982 cr defence hardware deals
New Delhi: In a significant move to strengthen the Indian Army's operational readiness in counter-terrorism operations, the Ministry of Defence has concluded 13 contracts worth Rs1,981.9 crore under the Emergency Procurement mechanism, according to an official statement issued on Tuesday. The key equipment being procured includes Integrated Drone Detection and Interdiction Systems, Low Level Lightweight Radars, Very Short Range Air Defence Systems and Remotely Piloted Aerial Vehicles. Loitering Munitions, including Vertical Take-Off and Landing systems, various categories of drones, Quick Reaction Fighting Vehicles, Night Sights for Rifles, Bullet Proof Jackets and Ballistic Helmets also form part of the list. These contracts, amounting to Rs1,981.90 crore, have been finalised against an overall sanctioned outlay of Rs2,000 crore for the Indian Army. Executed through fast-track procedures under the EP mandate, the procurement aims to enhance situational awareness, lethality, mobility, and protection for troops deployed in CT environments. The acquisitions were completed within compressed timelines to ensure rapid capability augmentation, according to the statement. These procurements reflect the Ministry's commitment to equipping the Indian Army with modern, mission-critical, and completely indigenous systems to meet emerging security challenges. The emergency procurement route continues to be a key enabler in bridging urgent capability gaps and ensuring the timely induction of vital operational equipment, the statement added.
