Indian drone manufacturer ideaForge has returned to profitability in the fourth quarter, achieving a profit of ₹59.9 Cr against a net loss of ₹25.7 Cr in the same quarter last year. This turnaround follows three consecutive quarters of losses and is attributed to a significant jump in revenues, expansion of global operations, and increased demand for combat drones. Operating revenue for the quarter surged sixfold year-on-year to ₹141 Cr, while total expenses rose 84% year-on-year to ₹92.8 Cr.
The company cited stronger execution, improved market demand, and the ability to fulfill a backlog of orders as key drivers for the positive financial performance. ideaForge also highlighted its strategic investments in research and development and manufacturing in India and the US, with plans to venture into combat drones due to growing global battlefield drone usage. International business also contributed, with the company securing its first order from the Lamar Police Department in the US and generating revenue from training NATO forces. An MoU with Digital Media Professionals Inc. aims to expand presence in Japan and develop next-generation AI drones.
Despite the revenue surge, total expenses saw a sharp increase, primarily due to higher material costs and supply chain pressures. For the full fiscal year 2026, ideaForge remained a loss-making entity, though it narrowed its annual losses by 73% year-on-year to ₹17 Cr, indicating a path toward stabilization.
In parallel, energy engineering firm Kimbal Pvt Ltd has successfully raised $22 million (approximately ₹210 Cr) in a Series B funding round. The investment was led by GEF Capital Partners, with the capital intended to accelerate product development, expand global operations, and bolster manufacturing capabilities. Founded in 2011, Kimbal provides smart metering and smart grid solutions, with its product portfolio encompassing RF connectivity, cloud platforms, edge computing, power quality, energy management, and battery storage. This funding brings Kimbal’s total raised capital to $27 million. The fundraise aligns with a growing global emphasis on sustainability and regulatory efforts to modernize power grids and integrate renewable energy sources.
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