Updates

www.ideaforgetech.com July07,2026 To, To, BSELimited TheNationalStockExchangeofIndiaLimited PhirozeJeejeebhoyTowers,DalalStreet, “Exchange Plaza”, Bandra – Kurla Complex, Fort,Mumbai–400001. Bandra(EAST),Mumbai–400051 BSEScripCode:543932 NSESYMBOL:IDEAFORGE DearMadam/Sir Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations,2015(“SEBIListingRegulations”). We wish to inform you that the Board of Directors of the Company at its meeting held on Thursday,April30,2026hasapprovedtheauditedconsolidatedfinancialstatementsreadwith thenotesandschedulesthereto,alongwiththeauditreportthereonforthefinancialyearended March31,2026,preparedinaccordancewiththerequirementsoftheCompaniesAct,2013and IndianAccountingStandards(Ind-AS). A copy of the audited consolidated financial statements of the Company along with the audit reportareenclosedherewith. Please note that the audited consolidated financial statements read with the notes and schedules thereto, along with the audit report thereon for the financial year ended March 31, 2026,remainsubjecttoapprovaloftheshareholders’attheensuingAnnualGeneralMeetingof theCompanyscheduledtobeheldonWednesday,August05,2026. We request you to take the above on record and the same be treated as compliance under Regulation30andtheotherapplicableprovisionsoftheSEBIListingRegulations. The above information will also be available on the website of the Company at https://ideaforgetech.com/ Youarerequestedtotakethesameonrecord. Thankingyou, ForideaForgeTechnologyLimited NileshRanjanJaywant CompanySecretary&ComplianceOfficer MembershipNo.A26554 ideaForgeTechnologyLimited EL-146,T.T.C.IndustrialArea,M.I.D.C.Mahape,NaviMumbai-400710.Maharashtra (India) Ph.(O):+91(22)67871000(F)+91(22)67871007 Email:info@ideaforgetech.com CINNo.L31401MH2007PLC167669 BSR&Co.LLP 'l4th Floor, Cenlral B wing and North C Wing Nesco lT Park 4, Nesco Center western Express Highway Chartered Accountants Goregaon (East), Mumbai - 400 063, lndia Tolephone: +91 (22) 6257 '1000 Fax: +91 (22) 6257 1010 lndependent Audrtor's Report To the Members of ideaForge Technology Limited Report on the Audit of the Standalone Financial Statements Opinion we have audited the standalone financial slatements of ideaForge Technology Limited (the'company') which mmprise the standalone balance sheet as at 31 March 2026, and the standalone statement of profit and loss (including other comprehensive income), standalone statement of changes in equity and standalone statement of cash flows for the year then ended, and notes to the standalone financial statements, including material accounting policies and other explanatory information. ln our opinion and to the best ot our information and according to the explanations given to us, -the aforesaid standalono fnancial statements give the information required by the Companies Act, 2013 (,,Act") in the manner so required and give a irue and fair view in conlormity with the accounting principlas geneially accepted in lndia, of the state of affairs of the company as at 31 March 2026, and its loss and 6ther cohprehensive income, changes in equity and its cash flows ior the year ended on that date. Basis for Opinion we mnductsd our audit in accordance with tha standards on Auditing (sAs) specilisd undsr Section 143(10) of the Act. Our responsibilities under those SAs are further described in the Audito,'s Responsib,ili'r'es for the Audit ot the Slandalone Financial Statamenls section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the lnstitule of Chartered Accountants of lndia together with the ethical requirements that are relevant to our audit of the standalone financial statements un-der the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in acmrdance with these requirements and the Code of Ethics. We believe that the audit eridence *. have obtained is sufficient and appropriate to provide a basis for our opinion on the standalone financial statements. Key Audit Matters Key audit matters are those matters that, in our professional judgment, were of most significance in our of th" standalone financial slatemenls of the cunent period. These matters were addressed in the " cr od ni tt e xt of our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on thess matters. Revenue recognition Refer Note 2.2(i) of Material Accounting Policies and Note 24 to standalone tinancial statements Revenue recognition on sale of Product How the matter was addressed in our audit Revenue from the sale of products is ln visw of the significanco of the matter, we applied recognized when control over goods is the following audit procedures in this area, amongst transferred to the customer based on specilic others, to obtain sufficient appropriate audit terms and conditions of sale contracts with evidence: respective customers. The Company and its extemal staksholders s Lr ms ' reR d & u c .bo r i. B isrt rD i.E .hh 'p o kfi tm r L*r Ln P RR. €as {. hrr M.u 6 Nr, olo A8 A A6 _1 02 16? 13 I ) wd iw $ d sL id d mftr o B o S c bR h I e C 1o ',. | L 20IP 13 {. cra a$ r F bo w.. a rc rmat d e ,B! lr atl E x rorl nd rt vL , d G! dc l qw -r nrc , lE N 6lm r, M d u rP $dtt . a. o @r'b 636 Page 1 of 14 BSR&Co.LLP lndependent Auditor's Repoft (Contin ued) ideaForge Technology Limited focus on revenue as a key performance metric. i. Evaluated the company's revenue Revenue recognition has been identified as a recognition policies by comparing it with key audit matter as there could be incenlives or extemal pressures to meet expectations applicabla accounting standards. resulting in revenue being overstated or ii. Porformed lesting of design and recognized before the control has been implementation and the operating tran sfe rred . effectiveness of the relevant key internal controls over recrqnition of revenue. iii. On a statistical sample basis, tested the revenue transactions recorded during the year by verifying the underlying documents such as sal6s invoices/contracts, dispatch/shipping documents and proof of delivery. iv. On the basis of lead time analysis , tested specific revenue transactions recorded before and affer the linancial year-end date to determine that revenue is recognised in the financial period in which control is transferred, based on the terms and conditions set out in sales invoices/contracts, dispatch/shipping documents and proof of delivery. v. Performed analytical procedures such as year on year analysis to identify any unusual fluctuations vi. Scrutinised joumal entries posted to revenue account based upon specific risk based criteria, to identify unusual or inegular items. of Product Capitalisation under development Refer Note 2.2 (b) and (c) of Material Accounting Policies and Note 6A to standalone llnancial statements Significant estimates and rudgement How the matter was addressed in our audil relating to capitalisation of product under development Costs for new product development are ln view of the signiticance of the matter, we applied recognised as intangible assets when technical the following audit procedures in this area, amongst feasibility is established, the Company has othsrs, to obtain sufflcient appropriate audit committed technical and commercial evidence: resources, fulure economic benefits are i. Evaluated the accounting policy for assessed as 'probable' and expenditure v capitalisation and impairment of intangibl€ attributable to the intangible asset during its assets under development by comparing it development can be measured reliably. Page 2 ol 14 BSR&Co.LLP lndependent Auditor's Repoft (Conti nued) ideaForge Technology Limited with applicable accounting standards This involves management judgement and ii. Evaluated and tested the design, estimate and there are inherent challenges in implementati [Showing first 8,000 characters — download PDF for full document]