India’s drone sector is gaining strong momentum after Prime Minister Narendra Modi stressed its importance during Independence Day. Six defence companies are now in focus as investors look for growth opportunities in unmanned systems. These include NIBE, Zen Technologies, ideaForge, Data Patterns, BEL and Paras Defence.
NIBE has secured a ₹563 crore Army contract for loitering munitions. This provides near-term visibility even though the company reported losses in the latest quarter. Zen Technologies has built a strong position in counter-drone systems with ₹614 crore worth of contracts and margins above 40%. ideaForge, India’s direct UAV maker, posted revenue growth of more than 400% year on year, though profitability remains a challenge.
Data Patterns, which specialises in radar and jamming systems, reported ₹116 crore revenue in Q1 FY27 and holds cash reserves of ₹530 crore with no debt. BEL, India’s largest defence electronics company, has an order book of ₹72,258 crore, with drones forming part of its wider radar and warfare portfolio. Paras Defence, active in UAVs and anti-drone systems, posted 38% revenue growth and 40% profit growth in Q1 FY27.
Analysts believe Zen Technologies and Data Patterns look best placed due to strong execution and financial strength. ideaForge offers direct UAV exposure but needs profitability. BEL provides scale and Paras Defence shows balanced growth. NIBE must prove execution capability despite its big order win.