**Business Performance:** ideaForge reported strong Q2 FY26 revenue of `40.76 Cr`, up 218.9% from Q1's `12.78 Cr`. Gross margin was 50.0%. PAT improved to `-19.62 Cr` (from `-23.56 Cr` in Q1 FY26) due to higher revenue.

H1 FY26 revenue split: 59% Defence, 41% Civil. **Growth Drivers & Strategy:** The company is focusing on next-gen drone platforms, new categories, and enhancing GPS/communication resilience.

Strong demand from Indian Armed Forces' UAV procurement acts as a significant tailwind.

Global expansion through a US Joint Venture is also a key strategy. **Recent Developments:** Updates include forming First Forge, a US JV for drone manufacturing/distribution, and launching the Q6 V2 Geo UAV.

Consistent new orders are flowing.

SWITCH & Q6 V2 platforms received NATO Stock Numbers (NSN), boosting international credibility.

Drones also aided disaster response. **Key Financial Metrics:** The order book stands robust at `238.0 Cr` as of October 28, 2025. **Management Outlook:** The CEO noted a demand rebound after a muted FY25, crediting investments in advanced platforms for positive results.

He anticipates continued growth from ongoing procurement.