ideaForge share price today

Ideaforge Technology Ltd's share price was ₹713.30 at the close on 4 November 2026. It has been rising for 26 weeks. That is 2.7% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹385 and ₹965, and at that close it sat 57% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Ideaforge Technology Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 17 weeks running.

Over the last 3.3 years the share price moved −45% while the NIFTY 500 moved +32%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 10 July 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

7 points on a year earlier, indian funds and insurers (DIIs) raised their stake for 4 quarters in a row and promoters cut their stake for 3 quarters in a row.

1. Operating margin up 152.7 points on a year earlier

   3.4% in the June 2026 quarter, from -149.3%.

   Why: The company converted more of its opening order book into sales, which lifted revenue enough to turn a loss into a small operating profit.

   Next results: check whether product mix and thermal camera and electronic component supplies keep the margin positive.

   From the earnings call on 11 Aug 2026.

2. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row

   From 1.5% to 13.6% of the company by the September 2026 quarter.

3. Promoters cut their stake for 3 quarters in a row

   From 29% to 25.3% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), ideaForge reported revenue of ₹68.6 crore, up 436.7% from ₹12.8 crore a year earlier, and a loss of ₹2.59 crore.

ideaForge results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

ideaForge's management discussed these results on a call held on 11 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

ideaForge closed at ₹713.30 on 4 November 2026, up 54.3% from ₹462.25 a year earlier (7 November 2025) and down 9.8% over three years. Its highest weekly close since July 2023 was ₹1,294.95 on 7 July 2023.

ideaForge share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

181 weekly closes from 7 July 2023 to 4 November 2026.

4 Nov 2026: ideaForge closed at ₹713.30, up 13.5% on the week and down 3.0% on the month. 11 Aug 2026: ideaForge held its results call for April to June 2026. Management guided: Approximately ₹257 crore of remaining opening order book planned for delivery by October to December 2026 as per customer timelines.

Earlier

• Results for April to June 2026: Revenue up 436.7% on a year earlier.

ideaForge has paid no dividend on the NSE since its first NSE close in our records (7 July 2023), the start of the period we checked.

No. Ideaforge Technology Ltd paid out 0% of its profit as dividends in each of its last 8 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 11 August 2026, ideaForge's management guided: Approximately ₹257 crore of remaining opening order book planned for delivery by October to December 2026 as per customer timelines.

“We own the consequential parts of what goes inside a drone.”Ankit Mehta, on the call for April to June 2026

What management guided

• Blended gross margin to remain 50-55% for FY27.
• Run-rate and command-level procurement activity expected to fructify in Q3-January to March 2027.
• At least a couple of FTP opportunities expected to produce outcomes within FY27; some may slip into FY28.
• Publicly cited FTP drone opportunities of ₹20,000 crore and DAC-cleared capital proposals of ₹52,000 crore support a larger FY27-and-beyond pipeline.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 11 August 2026.

When ideaForge reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Remaining opening-book execution - check shipment, inspection and customer acceptance against the delivery timetable.

ideaForge is on one of our India lists: Defence stocks.

Ideaforge Technology Ltd posted a net loss of ₹2.6 Cr in the Jun 2026 quarter. The full FY26 year was a loss of ₹17.0 Cr. That loss is 3.8% of the quarter's revenue. The same quarter a year earlier lost ₹23.6 Cr. 7 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Ideaforge Technology Ltd reported ₹68.6 Cr of revenue in the Jun 2026 quarter, +436.7% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 7 years it has grown 43.5% a year on average. The last full year, FY26, came in at ₹226 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹282 Cr.

FY26 revenue was ₹226 Cr, +40.4% on the year before.

Recent pace: the last four quarters grew +280.1% on average, against 43.5% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +221.1%, against −3.6% a year over the last 8 quarters (accelerating).

Ideaforge Technology Ltd's operating margin was 3.4% in the Jun 2026 quarter, 152.7 percentage points higher than the same quarter a year ago. Across 8 years it has been between −88.0% and 47.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +152.7 percentage points on the year while gross margin changed −12.7 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 74% of Ideaforge Technology Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 its operations used ₹63.0 Cr of cash, against −₹17.0 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹94.0 Cr of spending on assets, free cash was −₹157 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 74% of profit came in as cash: the cash cycle got 22 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 2.9× depreciation over three years. The next section checks what that spending is building.

Ideaforge Technology Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 587 days in FY26, down from 609 days in FY21. It spent ₹267 Cr on assets over the last 3 years. Customers take 204 days to pay, and stock sits for 536 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹226 Cr, each day of that cycle ties up about ₹0.6 Cr, so roughly ₹363 Cr is tied up in the business at any time.

FY26: customers took 204 days to pay and stock sat for 536 days, about 17.6 months of sales sitting as stock, for a full cycle of 587 days, shorter than FY21's 609.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 536 days. Customers pay about 204 days after that. Suppliers are paid at 153 days. Together that makes the 587-day cycle.

Spending on assets: ₹267 Cr over the last 3 years, against ₹93.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹110 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Ideaforge Technology Ltd's P/E is 903.0×, about the highest it has ever been. Its usual P/E (the middle reading) is 111.4×, over 3.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹0.89.

Where the price move came from: over 3 years the price moved −3.4% a year; about −52.2% a year came from earnings growth and about +48.8 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Ideaforge Technology Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 10 quarters of 2 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Ideaforge Technology Ltd earned a ROCE of −3% in FY26. That is up from a low of −17% in FY20. Its return on capital used (ROIC) is 11.5 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

It comes from a −7.5% net margin and 0.28× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a −7.5% net margin × 0.28× asset turnover × 1.33× leverage (assets divided by equity) ≈ −2.8% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 0.5% − 12.0% = −11.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

The 0.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at −7.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.

Ideaforge Technology Ltd has total debt of ₹84.0 Cr against shareholder equity of ₹599 Cr as of Jun 2026, so its debt is 0.14× its equity, which is very little. Year by year, that ratio went from 0.10 in FY22 to 0.14 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Domestic institutions raised their stake in Ideaforge Technology Ltd by 11.1 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 13.6% of the company. Foreign institutions moved +5.9 points over the same period, to 7.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +11.1 points over 8 quarters, to 13.6%; Foreign institutions: +5.9 points over 8 quarters, to 7.3%; Promoters: −4.0 points over 8 quarters, to 25.3%.

Why the owners changed: domestic institutions drove it (+11.1 points), together with foreign institutions (+5.9 points). They raised their stake step by step.

For Ideaforge Technology Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

41.5 out of 100, rank 18 of 25 in Aerospace & Defence - Equipments, with 71% of the evidence available.

Ideaforge Technology Ltd scores 41.5 out of 100 against the 25 companies it is compared with in Aerospace & Defence - Equipments, ranking 18. Earnings are strong; relative strength in its sector is -10.9% and the one-year return is 30.2%.

The four parts add up to the total exactly: 25.6 + 3 + 8.5 + 4.4 = 41.5. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

ideaForge ranks 18 of 25 Aerospace & Defence - Equipments companies on the 4-Factor Sector Score, with 41.5 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Aerospace & Defence - Equipments, all 25 compared on one page.

ideaForge is the 19th largest of 25 Aerospace & Defence - Equipments companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Mishra Dhatu Nigam, Rossell Techsys and Avantel. Just below it: Jaykay Enterprises, Vinyas Innovative Technologies and Sika Interplant Systems.

Aerospace & Defence - Equipments companies close in size

16. Mishra Dhatu Nigam Ltd ₹6,758 crore
17. Rossell Techsys Ltd ₹5,128 crore
18. Avantel Ltd ₹3,583 crore
19. Ideaforge Technology Ltd ₹3,125 crore
20. Jaykay Enterprises Ltd ₹2,947 crore
21. Vinyas Innovative Technologies Ltd ₹1,866 crore
22. Sika Interplant Systems Ltd ₹1,799 crore

All 25 Aerospace & Defence - Equipments companies, largest first

Companies close in size in other industries

1019. SBC Exports Ltd ₹3,150 crore · Textiles - Readymade Apparel
1020. TVS Srichakra Ltd ₹3,139 crore · Tyres & Tubes
1021. Ideaforge Technology Ltd ₹3,125 crore
1022. Wonderla Holidays Ltd ₹3,118 crore · Amusement Parks
1023. Mayur Uniquoters Ltd ₹3,109 crore · Plastics - Plastic & Plastic Products

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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