Defence company ideaForge Technology announced Q2FY25 results Financial Highlights: Revenue from Operations: Rs 371.0 million, compared to Rs 237.3 million (Q2FY24). Gross Margin: Rs 91.2 million Margin 24.6%. Business Highlights: Obtained DGCA Type Certification for Q6 V2 UAV. Initiation of FLYGHT Franchise – Franchise Owned Franchise Operated (FOFO) model for DaaS business. 6 new patents filed, and 2 new patents granted. Next-generation technology demonstration to customers at high altitude during HIMTECH 2024. New Value-Added Resellers/Partners onboarded in the US. Upgraded to CRISIL BBB+/Stable corporate credit rating from CRISIL BBB/Stable. Ankit Mehta, CEO, ideaForge Technology, said: “The second quarter of the year for us has been a period of doubling down on our initiatives. Our long-term efforts of pushing indigenisation and elimination of the use of critical sub-systems from geographies of concern are fructifying, and customers are actively thinking of looking under the hood to ensure there are no vulnerabilities due to the wrong country of origin. We continue our efforts in the new technology and product development and are making substantial progress on this front with a few early field tests and demos already underway. We filed six new patents in this quarter and two of our patents were granted as well, taking our global portfolio to 78 patents. Our paid PoCs for Drone-as-a-Service (DaaS) even for enterprise customers are proving helpful in providing us invaluable insights to make it robust and effective. The initiation of the FLYGHT Franchise – a Franchise Owned Franchise Operated model for DaaS will help us scale up the DaaS business. On the international front, due to our increased presence in the US, we are also witnessing interest in our products and solutions from across the globe, and we are working diligently on these opportunities. There has been a shift in the timeline for progress in large opportunities due to the reduced pace of capex spending by the government, and we are tracking those opportunities closely. Our faith in the ability of drone technology to make a positive and meaningful impact is bolstered by the extensive use of drones during recent floods in Vijayawada and even in the US in Florida after Hurricane Milton. I am confident that in the coming times, drones will become ubiquitous for use in security, governance and disaster response, and ideaForge will continue to lead and push the boundaries of technology in this domain and drive its widespread adoption.” Result PDF