ideaForge Q4 FY26: Sales jump 594%, profit ₹59.99 cr

Market context and why the results matter

ideaForge Technology Limited (BSE: 543932, NSE: IDEAFORGE) reported its earnings for the fourth quarter and full year ended March 31, 2026, at a time when the broader market status was indicated as green. The company operates in the defence industry and was incorporated in 2007. The update is significant because the March 2026 quarter shows a sharp year-on-year jump in revenue and a swing back to profit, after a run of quarterly losses reported up to December 2025. In the available consolidated financial snapshot, December 2025 net profit stood at a loss of ₹33.85 crore, described as the fourth consecutive quarterly loss at that point. Against that backdrop, the March 2026 quarter marks a clear reversal in quarterly profitability on sharply higher topline.

Q4 FY26 headline: sharp revenue jump and profit swing

For the quarter ended March 2026, the company reported total revenue of ₹153.49 crore, compared with ₹34.16 crore in December 2025 and ₹24.74 crore in March 2025. Operating profit for the quarter was reported at ₹61.71 crore, compared with an operating loss of ₹26.52 crore in December 2025 and an operating loss of ₹21.84 crore in March 2025. Net profit for the quarter came in at ₹59.99 crore, versus a net loss of ₹33.85 crore in the previous quarter and a net loss of ₹25.71 crore in the year-ago quarter.

A separate earnings summary for the quarter also reported sales of ₹141.04 crore (₹1,410.43 million) versus ₹20.31 crore (₹203.1 million) a year ago. Revenue was reported at ₹153.49 crore (₹1,534.93 million) versus ₹24.74 crore (₹247.4 million) a year ago. Net income was ₹59.99 crore (₹599.93 million) versus a net loss of ₹25.71 crore (₹257.07 million) a year ago.

Key quarterly comparison (QoQ and YoY)

The company’s quarterly comparison table highlighted the scale of the rebound in March 2026, both sequentially and year-on-year.

In addition to the revenue table above, the reported sales metric for the March 2026 quarter was ₹141.04 crore, up 594.44% from ₹20.31 crore in the March 2025 quarter. The company also reported that net profit in the March 2026 quarter was ₹59.99 crore, compared with a net loss of ₹25.71 crore in the March 2025 quarter.

Quarterly P&L snapshot: costs, other income, and margins

The quarterly results table (all figures in ₹ crore) provides more detail on how profitability shifted in March 2026.

The same dataset also separately reports net profit of ₹59.99 crore for the March 2026 quarter in the consolidated snapshot, indicating that readers should treat these tables as different reported views within the provided data. What is consistent across the provided earnings summary and the comparison table is the sharp rise in March 2026 revenue and the reported swing to net profit versus year-ago losses.

Full-year FY26: losses narrow as revenue rises

For the full year ended March 2026, sales were reported at ₹226.13 crore (₹2,261.29 million) compared to ₹161.22 crore (₹1,612.16 million) in FY25. Full-year revenue was reported at ₹248.42 crore (₹2,484.21 million) compared to ₹182.38 crore (₹1,823.76 million) in FY25. On profitability, the company reported a net loss of ₹17.03 crore (₹170.29 million) for FY26, narrowing from a net loss of ₹62.28 crore (₹622.78 million) in FY25.

The year-on-year sales increase for FY26 was reported at 40.26%, from ₹161.22 crore to ₹226.13 crore. The narrowing of annual losses aligns with the strong March 2026 quarter performance shown in the quarterly comparison table.

Growth indicators reported in the dataset

The dataset also included a “Profit Growth” snapshot with the following figures: 1 Year 207.37%, 3 Year 205.29%, and 5 Year 212.41%. Separately, a growth rates table reported Sales CAGR of -49% (1 year), 0% (3 year), 63% (5 year), and 0% (10 year). The same table reported Operating Profit CAGR of -136% (1 year), with 3-year shown as NAN%, and PAT CAGR of -238% (1 year), with 3-year shown as NAN%. These figures were presented as-is in the provided material.

Stock price snapshot and recent trading reference

In the provided market snippets, ideaForge’s share price was shown at ₹404.6 (last updated 15:54). Another cited datapoint stated that as on 16 Mar 2026, 03:52 PM IST, the stock price was ₹392.50, down 3.04% from the previous closing price of ₹426.15. The same snippet cited a 1-week move of -12.43%.

While the quarterly result drove a fundamental update, the stock movement data indicates that prices were volatile around March 2026 in the provided trading references. Investors typically track how quickly a strong quarter translates into sustained orders and consistent revenue recognition, particularly in defence-linked segments.

What to track after the March 2026 quarter

With Q4 FY26 showing total revenue of ₹153.49 crore and net profit of ₹59.99 crore in the consolidated comparison table, a key item to watch is whether the company sustains quarterly revenue above the pre-March 2026 range shown in earlier quarters. Another point to monitor is the gap between “sales” and “revenue” as both were reported in the earnings summary for the same periods. The full-year picture still shows a net loss of ₹17.03 crore, even as it narrowed sharply from FY25, suggesting that consistency across quarters remains important for the overall annual outcome.

Conclusion

ideaForge’s March 2026 quarter stood out for a steep year-on-year revenue jump and a reported return to profitability, while FY26 losses narrowed materially compared with FY25. The next set of quarterly disclosures will be important to confirm whether the Q4 surge was followed by steadier revenue and profitability trends.