India drone brief ·
Garuda Aerospace's FY26 revenue rises 67%; ideaForge's US unit ends drone JV plan
IPO-bound Garuda Aerospace grew revenue to about ₹206 crore in FY26, and ideaForge's US subsidiary called off its planned drone joint venture with First Breach.
NewsReported
Garuda Aerospace's FY26 revenue rises 67% to ₹206 crore, profit to ₹26 crore
Garuda Aerospace's revenue from operations reached about ₹206 crore in the year to March 2026, up from ₹123.5 crore, and net profit rose to about ₹26 crore from ₹18.4 crore, according to financial statements filed with the Registrar of Companies. Drones and drone parts brought in about ₹99 crore and services about ₹107 crore. The company has SEBI approval for an IPO that includes a ₹750 crore fresh issue.
PartnershipReported
ideaForge's US unit calls off planned drone joint venture with First Breach
ideaForge's wholly owned US subsidiary terminated its September 2025 agreement with First Breach Inc. to form a joint venture that would license, make and distribute ideaForge drones in the United States. The company told the exchange on 23 October that the deal did not close before the agreed deadline, and both sides waived claims against each other.
Source:Inc42 Business Upturn
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