Ideaforge proudly calls itself the largest drone company.
But, Ideaforge is nowhere in the top5 in January2024 registrations.
While Dhaksha had a turnover of less than 5cr in 2022, this coromandel (Murugappa) based company has bagged a 165cr order for 600drones worth 165cr from defence (200pcs) and agri (400pcs) sectors. This is equivalent to last years sale of Ideaforge.
Ideaforge backed by Infosys has had a bad q2 But they are banking on drone Exports the the USA post receipt of license. But, no news on orders received by the company in the last quarter. Surprisingly, Carborundum Universal, another Murugappa group company has tied up with Ideaforge.
Another Listed major Paras Defence has also bagged a huge drone contract from IFFCO and also has existing business with the Defence sector.
Also, Paras order for 400drones is worth 42.4crores. This means Dhaksha order for agri drones has to be of around similar value. This puts the 200 defence drones order at 100-125crores.
with hardly a 1000 units of drones sold the rankings will fillip faster every month.
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