ideaForge Technologies Reports Impressive Growth in Q2 FY27

ideaForge Technologies has achieved remarkable growth, more than doubling its operating revenue in the second quarter of FY27 while successfully returning to profitability during this time.

In Q2 FY27, ideaForge’s revenue from operations soared by 123.9%, reaching Rs 91.28 crore compared to Rs 40.76 crore in the same quarter of the previous fiscal year. This surge is detailed in the financial results that were submitted to the National Stock Exchange (NSE).

The company also reported Rs 6.28 crore in other income, bringing its total income to Rs 97.6 crore in Q2 FY27, which is a significant increase from Rs 44 crore in Q2 FY26.

Expense Analysis for ideaForge

On the expenses side, the cost of materials consumed was the largest expenditure, rising by 90.9% to Rs 42 crore in Q2 FY27 from Rs 22 crore during the same period last year. Additionally, employee benefit expenses saw a 10% increase, amounting to Rs 16.58 crore, up from Rs 15.07 crore. Moreover, depreciation expenses increased by 39.8% to Rs 14.75 crore from Rs 10.55 crore.

Other expenses also saw a rise, increasing by 4.8% to Rs 16.67 crore, compared to Rs 15.90 crore previously. Overall, ideaForge’s total expenses grew by 41.7%, reaching Rs 90 crore in Q2 FY27 from Rs 63.52 crore in Q2 FY26.

Profitability Metrics

As a result of these financial movements, ideaForge reported a net profit of Rs 6.5 crore in Q2 FY27, contrasting with a net loss of Rs 19.62 crore in the same quarter the previous year.

For the first half of FY27, ideaForge witnessed a nearly threefold increase in revenue from operations, totalling Rs 160 crore, compared to Rs 53.5 crore in H1 FY26. However, it is important to note that the net profit experienced a decline of 10.4%, amounting to Rs 3.87 crore compared to Rs 4.32 crore in the corresponding period of the last fiscal year.

On Monday, shares of ideaForge closed at Rs 639.25 each, leading the company’s market capitalisation to reach Rs 3,126 crore.