BSE: 543932 | NSE: IDEAFORGE | Engineering - Industrial Equipments | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Ideaforge Technology Ltd is a below average quality company.
The key valuation ratios of Ideaforge Technology Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Ideaforge Technology Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -72.9% | 37.1% | 21.9% | -1% | -9.1% | -16.6% | -14.2% | 49.6% | 16.1% | 12.9% | - |
| Value Creation Index ⓘ | -6.2 | 1.7 | 0.6 | -1.1 | -1.7 | -2.2 | -2.0 | 2.5 | 0.2 | -0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1.5 | 16 | 32.7 | 20.4 | 18.2 | 14.1 | 34.9 | 159 | 186 | 317 | 320 |
| Sales YoY Gr. | - | 988.4% | 104.1% | -37.6% | -10.7% | -22.5% | 147.7% | 356.5% | 16.7% | 70.4% | - |
| Adj EPS ⓘ | -1.9 | 2 | 1 | -1 | -5.3 | -6.8 | -7 | 21.8 | 14.2 | 9.1 | 4.1 |
| YoY Gr. | - | NA | -49.3% | -200% | NA | NA | NA | NA | -34.8% | -36% | - |
| BVPS (₹) ⓘ | 0.7 | 5.3 | 10.8 | 44.6 | 39.5 | 32.7 | 25.7 | 73.9 | 137.9 | 152.4 | 152.9 |
| Adj Net Profit ⓘ | -3.3 | 3.7 | 2 | -2 | -10.7 | -13.7 | -14.3 | 44 | 30.3 | 39 | 17 |
| Cash Flow from Ops. ⓘ | -1.4 | -5.6 | 7.2 | -5.4 | -13.5 | -17.1 | -31.7 | 66.5 | -53.2 | 76.9 | - |
| Debt/CF from Ops. ⓘ | -1.9 | -0.9 | 1.8 | -1.4 | -0.2 | -0.3 | -1.6 | 0.1 | -1.6 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 81.7% | 77.1% | 108.6% | 70.4% | ||||
| Adj EPS ⓘ | NA | NA | NA | -36% | ||||
| BVPSⓘ | 81% | 31% | 81% | 10.5% | ||||
| Share Price | - | - | - | -26.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -339.6 | 38.8 | 10.3 | -3.6 | -12.5 | -18.3 | -22.2 | 39.3 | 12.4 | 7.9 | 2.7 |
| Op. Profit Mgn % ⓘ | -103.9 | 36.6 | 23.8 | 2.1 | -48.9 | -93 | -32.3 | 46.8 | 25.8 | 18.9 | 8.5 |
| Net Profit Mgn % ⓘ | -221.4 | 22.9 | 6.2 | -9.9 | -58.7 | -97.5 | -40.9 | 27.6 | 16.3 | 12.3 | 5.5 |
| Debt to Equity ⓘ | 2 | 0.5 | 0.6 | 0.1 | 0 | 0.1 | 1 | 0 | 0.3 | 0 | 0 |
| Working Cap Days ⓘ | 1,386 | 332 | 261 | 452 | 611 | 927 | 595 | 235 | 399 | 305 | 435 |
| Cash Conv. Cycle ⓘ | 733 | 201 | 129 | 190 | 297 | 502 | 335 | 108 | 203 | 154 | 397 |
Sales growth is growing at healthy rate in last 3 years 108.59%
Sales growth is good in last 4 quarters at 322.72%
Return on Equity has declined versus last 3 years average to 2.70%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.1 | 2.9 |
| TTM Sales (₹ Cr.) | 320 | 316 |
| BVPS (₹.) ⓘ | 152.9 | 151.8 |
| Reserves (₹ Cr.) ⓘ | 615 | 610 |
| P/BV ⓘ | 3.84 | 3.86 |
| PE ⓘ | 144.95 | 200.69 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 535.45 / 885.65 |
| All Time Low / High (₹) | 535.45 / 1344.00 |
| Market Cap (₹ Cr.) | 2,524 |
| Equity (₹ Cr.) | 43 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 57.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1 | 16 | 33 | 20 | 18 | 14 | 35 | 159 | 186 | 317 |
| Operating Expenses ⓘ | 3 | 10 | 25 | 20 | 27 | 27 | 46 | 85 | 138 | 257 |
| Manufacturing Costs | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 1 | 2 | 3 |
| Material Costs | 0 | 5 | 12 | 7 | 5 | 7 | 18 | 41 | 59 | 158 |
| Employee Cost | 1 | 3 | 5 | 7 | 14 | 13 | 19 | 27 | 51 | 53 |
| Other Costs ⓘ | 1 | 2 | 8 | 5 | 6 | 6 | 7 | 15 | 26 | 43 |
| Operating Profit ⓘ | -2 | 6 | 8 | 0 | -9 | -13 | -11 | 75 | 48 | 60 |
| Operating Profit Margin (%) | -103.0% | 36.6% | 23.8% | 1.0% | -48.9% | -93.0% | -32.3% | 46.8% | 25.8% | 18.9% |
| Other Income ⓘ | 0 | 0 | 1 | 2 | 4 | 2 | 1 | 2 | 10 | 30 |
| Interest ⓘ | 1 | 1 | 3 | 2 | 1 | 0 | 1 | 19 | 6 | 5 |
| Depreciation ⓘ | 1 | 1 | 2 | 3 | 3 | 2 | 3 | 7 | 12 | 21 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -3 | 4 | 3 | -3 | -9 | -14 | -14 | 50 | 41 | 65 |
| Tax ⓘ | 0 | 0 | 1 | -1 | 1 | 0 | 0 | 6 | 9 | 17 |
| Profit After Tax | -3 | 4 | 2 | -2 | -10 | -14 | -14 | 44 | 32 | 48 |
| PAT Margin (%) | -221.0% | 22.9% | 6.2% | -10.7% | -56.5% | -96.0% | -40.9% | 27.6% | 17.2% | 15.1% |
| Adjusted EPS (₹) | -1.9 | 2.0 | 1.0 | -1.1 | -5.1 | -6.8 | -7.1 | 21.9 | 15.0 | 11.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 1 | 10 | 22 | 89 | 79 | 66 | 52 | 149 | 294 | 654 |
| Share Capital ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21 | 43 |
| Reserves ⓘ | 1 | 10 | 22 | 89 | 79 | 65 | 52 | 149 | 273 | 611 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 1 | 4 | 8 | 3 | 0 | 5 | 43 | 6 | 87 | 0 |
| Long Term Debt | 1 | 3 | 8 | 3 | 0 | 0 | 37 | 0 | 0 | 0 |
| Short Term Debt | 0 | 1 | 0 | 0 | 0 | 5 | 5 | 6 | 87 | 0 |
| Trade Payables | 1 | 1 | 3 | 1 | 2 | 1 | 5 | 7 | 14 | 15 |
| Others Liabilities ⓘ | 4 | 16 | 10 | 7 | 9 | 7 | 24 | 59 | 88 | 67 |
| Total Liabilities ⓘ | 7 | 32 | 43 | 100 | 90 | 79 | 124 | 220 | 483 | 736 |
Fixed Assets | ||||||||||
| Gross Block | 1 | 1 | 9 | 13 | 14 | 16 | 28 | 36 | 71 | 111 |
| Accumulated Depreciation | 0 | 0 | 4 | 7 | 10 | 13 | 16 | 9 | 22 | 44 |
| Net Fixed Assetsⓘ | 0 | 0 | 5 | 6 | 4 | 4 | 13 | 26 | 49 | 67 |
| CWIP ⓘ | 0 | 0 | 0 | 1 | 9 | 17 | 14 | 19 | 25 | 54 |
| Investmentsⓘ | 0 | 0 | 0 | 54 | 24 | 12 | 0 | 11 | 125 | 95 |
| Inventories | 2 | 3 | 6 | 6 | 10 | 11 | 23 | 49 | 105 | 97 |
| Trade Receivables | 1 | 14 | 6 | 6 | 9 | 10 | 24 | 20 | 58 | 47 |
Cash Equivalents  ⓘ
| 2 | 8 | 15 | 11 | 19 | 9 | 21 | 35 | 6 | 268 |
| Others Assetsⓘ | 2 | 6 | 10 | 15 | 15 | 17 | 29 | 60 | 115 | 108 |
| Total Assets ⓘ | 7 | 32 | 43 | 100 | 90 | 79 | 124 | 220 | 483 | 736 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1 | -6 | 7 | -5 | -13 | -17 | -32 | 67 | -53 | 77 |
| PBT ⓘ | -3 | 4 | 3 | -3 | -9 | -14 | -14 | 50 | 41 | 65 |
| Adjustment ⓘ | 2 | 2 | 6 | 3 | 3 | 1 | 9 | 30 | 37 | 11 |
| Changes in Working Capital ⓘ | 0 | -11 | 0 | -6 | -6 | -4 | -26 | -6 | -125 | 22 |
| Tax Paid ⓘ | 0 | 0 | -2 | 0 | 0 | 0 | 0 | -7 | -6 | -20 |
| Cash Flow From Investing Activity ⓘ | 0 | -3 | -5 | -61 | 21 | 5 | -11 | -31 | -149 | -108 |
| Capex | 0 | 0 | -1 | -5 | -9 | -9 | 0 | -13 | -33 | -67 |
| Net Investments | 0 | -3 | -4 | -57 | 29 | 12 | 0 | -20 | -119 | -47 |
| Others ⓘ | 0 | 0 | 1 | 1 | 2 | 2 | -11 | 2 | 3 | 6 |
| Cash Flow From Financing Activityⓘ | 3 | 15 | 7 | 63 | -6 | 2 | 44 | -11 | 176 | 189 |
| Net Proceeds from Shares ⓘ | 4 | 13 | 2 | 70 | 0 | 0 | 0 | 0 | 0 | 301 |
| Net Proceeds from Borrowing ⓘ | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | -1 | -3 | -2 | -1 | 0 | -1 | 0 | -4 | -3 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 8 | -6 | -5 | 2 | 45 | -11 | 180 | -109 |
| Net Cash Flow ⓘ | 1 | 6 | 9 | -3 | 2 | -11 | 1 | 25 | -26 | 158 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -340.47 | 65.92 | 12.88 | -3.92 | -12.22 | -18.73 | -24.37 | 43.9 | 14.44 | 10.1 |
| ROCE (%) | -72.92 | 37.14 | 21.85 | -1.03 | -9.13 | -16.59 | -14.2 | 49.57 | 16.06 | 12.88 |
| Asset Turnover Ratio | 0.22 | 0.82 | 0.87 | 0.29 | 0.19 | 0.17 | 0.35 | 0.93 | 0.53 | 0.52 |
| PAT to CFO Conversion(x) | N/A | -1.5 | 3.5 | N/A | N/A | N/A | N/A | 1.52 | -1.66 | 1.6 | Working Capital Days |
| Receivable Days | 404 | 178 | 117 | 114 | 151 | 249 | 177 | 50 | 77 | 61 |
| Inventory Days | 367 | 56 | 52 | 113 | 166 | 273 | 179 | 83 | 151 | 116 |
| Payable Days | 281 | 64 | 66 | 104 | 99 | 78 | 56 | 54 | 67 | 34 |
The company was incorporated as ‘ideaForge Technology Private Limited’ on February 8, 2007, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated February 8, 2007 issued by the RoC. Subsequently, upon the conversion of the company into a public limited company, pursuant to a resolution passed by its Shareholders’ on December 20, 2022, the name of the company was changed to ‘ideaForge Technology Limited’ and a fresh certificate of incorporation dated January 2, 2023 was issued by the RoC.
ideaForge Technology is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India, with an ideaForge manufactured drone taking off every five minutes for surveillance and mapping on an average. Its customers have completed many flights using its UAVs.Its UAVs are equipped with industry leading specifications and capabilities, comparable to those of other established global players in the UAV industry. Its capabilities like its indigenous design and technological ability to invent, design and deliver customer centric offerings allow it to design, develop, engineer and manufacture its UAVs in-house with a control on performance, reliability and autonomy. Its UAV platforms are architected with a ‘mission first’ approach i.e., to deliver UAVs which meet the requirements of its customers and which, it considers, can reliably sustain a large number of flights and are capable of being autonomously operated without special skills or training. In addition to being among the first few players in India to enter the UAV market, it also has the distinction of being the first company to indigenously develop and manufacture vertical take-off and landing (VTOL) UAVs in India in 2009. It has industry’s leading product portfolios targeted at civil and defence applications (dual use).
Its product portfolio consists of (a) hardware, which primarily includes UAVs, payloads, batteries, chargers and communication system (which enables communication between the ground control station and the UAVs), (b) software and embedded sub-systems, which includes the GCS software, which enables the controlling and management for its UAVs and autopilot sub-system, which enables remote control and autonomous completion of flights, and (c) solutions, which enables industry/ application specific software that enhances the value of its UAVs to the end customer. Its wide range of products gives it the necessary flexibility to meet the evolving demands of diverse customers across industries.
Business area of the company
The company is engaged in the business of manufacturing and marketing of UAV systems which are used for security and surveillance. Its ancillary business of providing training and maintenance service evolves around the main business of manufacture and marketing of UAV systems.
Products and software of the company
Awards, accreditations or recognition
History and milestone
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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