IDEAFORGE Q2 FY27 Guidance vs Delivery (IDEAFORGE Management Mirror)

H1 FY27 Executed Over 50% of Opening Order Book; Full Backlog Delivery Slated for H2 FY27 From Q3 Target Guided in Mar'26 Qtr

In Sep'26 Qtr, the company reported achieving over 50% execution of its opening order book, generating H1 FY27 revenues of INR 159.9 crore as per the financial results. Management had initially guided in the Mar'26 Qtr concall, and reaffirmed in the Jun'26 Qtr, to execute the entire opening backlog by Q3 FY27. The reported H1 execution tracks steadily against this target, though the full delivery timeline has slightly extended. Management now guides that while a large part of the remaining order book carried forward from the previous year will conclude in Q3 FY27, the entire closing order book of INR 202.2 crore is expected to be executed across H2 FY27, barring warranty-dependent spare supplies, with significant fresh order inflows and tender conversions anticipated in Q3 and Q4 FY27.