ideaForge is the largest company in the manufacturing of unmanned aircraft systems with a market share of approx 50% based on FY22. As the company is the market leader in the business. Nowadays and in the future, the use of drones will rapidly increase. If you also looking for a drone company to invest then check the ideaForge technology share price target for 2024, 2025, and 2026.
ideaForge is involved in the manufacturing of drones and related software for different purposes. In the next few years, we can also see massive growth in the sector/industry too.
ideaForge IPO was announced in the middle of 2023. The issue size of the IPO was Rs. 567.24 Crore with a price range of Rs. 638 to Rs. 672. The stock was listed in the market for nearly Rs. 1300 with a premium of 93% to 94%. It is all because of the future growth in the stock but after listing the stock started falling because of the massive profit just after listing.
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About Company
ideaForge Technology Limited company was founded in 2007. Ankit Mehta is the CEO of the ideaForge company which has a good understanding of Drones and technology. As a result, the company has seen good growth over the years. Vipul Joshi is the CFO (chief financial officer), Ashish Bhat is the VP of R&D, and Rahul Singh is the VP of engineering.
ideaForge is involved in unmanned aircraft systems (UAS) which come under the Aerospace and Defence sector. Over the last few years, we have seen massive growth in the sector. As per the FY22 report, the ideaForge is the biggest player in the industry with a market share of 50%.
ideaForge manufactures drones for different purposes like mapping, security, and surveillance. They also develop the software for the same purpose like mapping, surveillance, etc.
ideaForge Products
- Drones For Mapping: RYNO UAV and Q6 UAV
- Drones for Security & Surveillance: SWITCH UAV, NETRA V4+ PRO, NETRA V4 UAV, Q4i UAV, and Ninja UAV.
- Softwares: BlueFire Live and BlueFire Touch. It helps in the mapping, security, and surveillance.
These drones and their software can be used for different purposes based on their specification and ability. You can check more details on the ideaForge official website.
ideaForge Technology Stock Overview
- Current Market Price: Rs. 780.15 (24 Feb 2024 after market closing)
- Market Cap: Rs. 3,343 Crore (24 Feb 2024 after market closing)
- 52-week high: Rs. 1343.95
- 52-week low: Rs. 686.00
Company/Stock Scrip Info
| NSE | IDEAFORGE |
| BSE | 543932 |
| ISIN | INE349Y01013 |
| SECTOR | Aerospace & Defence |
Note: Below shared company’s financials, shareholding pattern, fundamentals, etc. were updated on 24 Feb 2024. Kindly check the latest information/data on any trusted screener like MoneyControl, Screener.in, etc.
Net Profit & Loss (Yearly)
| Year | Net Profit & Loss (In Crore) |
|---|---|
| March 2019 | NA |
| March 2020 | NA |
| March 2021 | -₹14.63 |
| March 2022 | ₹44.01 |
| March 2023 | ₹31.99 |
Net Profit & Loss (Quarterly)
| Quarter | Net Profit & Loss (In Crore) |
|---|---|
| Dec 2022 | -₹7.80 |
| Mar 2023 | -₹5.42 |
| Jun 2023 | ₹18.86 |
| Sep 2023 | ₹0.89 |
| Dec 2023 | ₹14.80 |
Cash Flow (In ₹ Crore)
| Cash Flow From | March 2021 | March 2022 | March 2023 |
|---|---|---|---|
| Operating Activities | -₹31 | ₹67 | -₹53 |
| Investing Activities | -₹7 | -₹31 | -₹149 |
| Financing Activities | ₹43 | -₹11 | ₹176 |
| Others | 0 | 0 | 0 |
| Net Cash Flow | ₹5 | ₹25 | -₹26 |
Fundamentals
| Market Cap | ₹3,343Cr | ROE | 1.03% |
| P/E Ratio (TTM) | 114.82 | EPS (TTM) | 6.97 |
| P/B Ratio | 5.28 | Div Yield | 0.00% |
| Industry P/E | 41.03 | Book Value | 147.53 |
| Debt to Equity | 0.02 | Face Value | 10 |
Shareholding Pattern
| Held By | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|
| FIIs | NA | 2.76% | 3.46% |
| DIIs | NA | 10.15% | 3.46% |
| Public | NA | 56.90% | 60.80% |
| Promoters | NA | 30.19% | 29.34% |
| Other Holders | NA | NA | NA |
Insider Transaction Summary (Last 5 Trans.)
| Date | Designated Person | Price | Quantity | Action |
|---|---|---|---|---|
| 31 Oct, 2023 | Mr. Mathew Cyriac | 800.00 | 403,410 | Acquisition – ESOP |
| 20 Oct, 2023 | Ms. Anagha Jundre | 804.00 | 2,486 | Acquisition – ESOP |
| 20 Oct, 2023 | Ms. Kruthi Aramanamada | 804.00 | 7,458 | Acquisition – ESOP |
| 20 Oct, 2023 | Mr. Peeyush Tandom | 804.00 | 1,356 | Acquisition – ESOP |
| 20 Oct, 2023 | Mr. Amol Suryawanshi | 804.00 | 3,842 | Acquisition – ESOP |
Key Points
- Promoters decreased their holdings in the Dec 2023 quarter from 30.19% to 29.34%.
- DIIs decreased their holdings in the Dec 2023 quarter from 10.15% to 3.46%.
- FIIs increased their holdings in the Dec 2023 quarter from 2.76% to 3.46%
- Promoters pledge their 0% holdings which is a good sign.
- ideaForge is not able to generate net profit from its operations.
- Earnings of the IdeaForge company have not increased over the years.
- The profit margins of the company are not stable and it is also below the industry median.
- There is low DEBT on the ideaForge company.
Quarterly Result (Dec 2023 Quarter)
Sales
In the Dec quarter, the sales of the ideaForge technology company increased from 24 to 91. It is the highest sales of the company in the last 5 quarters.
Revenue & Net Profit
In the Sep 2023 Quarter, the company has shown a revenue of Rs. 38.64 Crore while the net profit was Rs. 0.89 Crore.
In the Dec 2023 Quarter, the company showed a revenue of Rs. 97.51 Crore, and the net profit was Rs. 14.80 Crore.
Overall on the QoQ (Quarter on Quarter), the company has shown a good result in the net profit and revenue.
ideaForge Share Price Target
IdeaForge is a good company and one of the leading companies in the industry. In the IPO listing, the stock is listed at a very high premium and still, the stock is trading above the IPO price band. As it is a good company from the business model and sector. Once the stock prices become stable then we can expect good returns in the ideaForge share price target for 2024, 2025, and 2026.
IdeaForge Technology limited stock started falling after a few days of listing in the stock market. It can be because of the profit booking as DIIs, Mutual Funds, and promoters also decreased their holdings in the last quarter.
Disclaimer: We are not SEBI registered and the below-given share target price by brokerage firms, analysts (share price forecast), and analysis by us is only for educational purposes, not any buying or selling recommendation. We will be not responsible for any profit and loss.
ideaForge Share Price Forcast
There is no ideaForge share price target for 2024 based on the share price forecast. It is because the stock was listed recently and started falling. So, it is hard to take any decision on the stock which is falling badly.
That’s why there is no target for the stock based on the ideaForge stock. Once the analysis starts giving targets then we will update the section.
Brokerage Firm’s Advice
As of now, no brokerage firm has given any target for the stock. This is because all the brokerage firms give targets based on the company’s fundamentals and stock technicals.
As you can see the stock is falling and the fundamentals of the company are also not stable. It is common in micro-cap companies. So, you have to wait until any target is given and the stock becomes stable.
ideaForge Technology share price target for 2024
Based on the weekly timeframe the stock is looking bearish but there is also probability that the stock can go up from this level. If the stock does not break its support of Rs. 686.
On the last trading day i.e. 23 Feb 2024, the stock went up by 7% and it can be a sign or reversal. As the stock has been falling for the last few months and here the chance of reversal is also very high.
Because Moving Average (MA) periods 5 and 10 suggest that the stock is bullish. However, you should not consider it because this indicates for a short time.
The moving average (periods 5 and 10) indicates that the stock is bullish but other technical indicators and MA crossovers are indicating that the stock is still bearish.
So as of now, there is no ideaForge technology share price target for 2024. For risky traders buying the stock at this level is good with a stoploss of Rs. 686.
ideaForge Technology share price target for 2025
ideaForge stock is falling from the months and trading approximately 45% down from its all-time high. In the next few weeks to months, the downtrend in the stock will be over. From the bottom, the stock can consolidate or start going up.
As it is a micro-cap company stock so, the chance of a quick reversal in the stock is very high and this is common in most micro-cap companies. So, for the medium term IdeaForge share price target for 2025 can give 20% to 30% return very easily.
Hope you know that no one can identify the bottom of any stock, index, etc. but with price action, there can probability that you can capture the reversal in the stock can make good profits. Don’t forget to place a SL and trade the stock in limited quantity.
ideaForge Technology share price target for 2026
As per the current earnings, ratios, stock trend, etc. the ideaForge stock is not good for the long term. Many factors suggest that in the long term, the stock is not going to perform well and give good returns as well.
But if the earnings, sales, EPS, ratios, etc. of the company improve continually i.e. for 3 to 4 quarters in a row then there are very high chance that we can see good growth in the ideaForgse technology share price target for 2026.
Below are some factors that suggest not buying the stock for the long term as of now.
- DIIs decreased their holdings in the Dec 2023 quarter from 10.15% to 3.46%.
- Promoters decreased their holdings in the Dec 2023 quarter from 30.19% to 29.34%
- ideaForge is not able to generate net profit from its operations.
- Earnings of the IdeaForge company have not increased over the years.
- The profit margins of the company are not stable and it is also below the industry median.
FAQs
IdeaForge is a good company and it is one of the leading companies in the aerospace and defense sector for manufacturing different types of drones for different purposes.
However, according to the fundamentals and technicals, the company is not good for the long term.
For 2024 we are bullish on the stock because at this level there are very high chance of reversal in the stock. If you have good knowledge of price action then you can convert the opportunity into profit.
As of now, it is hard to say until there are any positive things in the company fundamentals. Like improving earnings, increasing sales, beating the industry median in terms of profit, etc.
Final Words: IdeaForge is a micro-cap company in the aerospace and defense sector that is involved in drone-making for security, surveillance, mapping, and surveying. In drone manufacturing, the company is one of the leading companies. As an investor, you should know the ideaForge share price target for 2024, 2025, and 2026 in case you invested in the stock or going to invest.