Frog Innovations
Frog Innovations (FROG) share price was ₹227.00 at the 28 Oct 2026 close; market capitalisation ₹353 Cr; P/E (TTM) 14.93; sector Telecom. The share price rose 5.4% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue fell 63.6% year on year to ₹51 Cr and net profit was −₹1 Cr, against ₹18 Cr a year earlier (compared with Mar 2025). Promoters held 72.54% of Frog Innovations in Sep 2026, unchanged from Mar 2026. Its Tapetide Score is 56/100 (Good) as of 28 Oct 2026.
Key Fundamentals
SMETelecom - Equipment & AccessoriesTelecomPrice-based figures as of 29 Oct 2026, 09:26 IST · TTM
Peer Comparison
Telecommunication › Telecom › Equipment & Accessories › Telecom - Equipment & Accessories
| ₹897.15 | 180.15 | 46,119 Cr | 10.15 | 0.11% | 2.47% | 9.13% | 7,246 Cr | 243 Cr | |
| ₹221.85 | 66.03 | 21,361 Cr | 11.21 | 0.00% | 15.37% | 24.45% | 2,619 Cr | 324 Cr | |
| ₹414.60 | — | 7,384 Cr | 2.93 | 0.61% | -31.01% | -28.81% | 1,481 Cr | -817 Cr | |
| ₹773.80 | 94.37 | 6,907 Cr | 8.60 | 0.20% | 8.03% | 10.38% | 2,264 Cr | 72 Cr | |
| ₹1,612.00 | 68.10 | 1,885 Cr | 18.09 | 0.09% | 25.05% | 32.81% | 97 Cr | 27 Cr | |
| ₹2,184.00 | 44.59 | 1,005 Cr | 11.59 | 1.24% | 21.83% | 28.17% | 223 Cr | 23 Cr | |
| Frog Innovations (this company) | ₹231.05 | 15.20 | 359 Cr | 2.26 | 0.00% | -0.99% | -2.28% | 222 Cr | 24 Cr |
| ₹364.00 | — | — | — | — | — | — | — | — | |
| Median 8 companies | ₹594.20 | 67.07 | 6,907 Cr | 10.15 | 0.11% | 8.03% | 10.38% | 1,481 Cr | 27 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 100/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
Weaknesses
4- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -2.59% over past five years.
- Company has a low return on equity of 8.39% over last 3 years.
- Earnings include an other income of Rs.2.98 Cr.
Technical Indicators
Oscillators
Bearish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year Operating margin -4.2% · Mar 2026
Quarterly Results
| Particulars | Sep 2022 | Sep 2023 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Sales | 66 | 69 | 80 | 140 | 55 | 51 |
| Expenses | 55 | 60 | 73 | 111 | 54 | 53 |
| Operating Profit | 11 | 8 | 6 | 29 | 1 | -2 |
| OPM % | 16% | 12% | 8% | 21% | 1% | -4.2% |
| Other Income | 0 | 1 | 3 | 0 | 3 | 0 |
| Interest | 0 | 0 | 0 | 1 | 1 | 0 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 3 |
| PBT | 10 | 8 | 7 | 26 | 0 | -5 |
| Tax % | 29% | 31% | 21% | 30% | 349% | -88% |
| Net Profit | 7 | 5 | 5 | 18 | -1 | -1 |
| EPS (₹) | 6.35 | 3.43 | 3.43 | 11.75 | -0.66 | -0.35 |
Profit & Loss
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 89 | 60 | 87 | 121 | 133 | 133 | 158 | 219 | 106 |
| Expenses | 84 | 64 | 81 | 110 | 113 | 111 | 137 | 184 | 108 |
| Operating Profit | 5 | -3 | 6 | 11 | 20 | 22 | 20 | 36 | -2 |
| OPM % | 6% | -5% | 7% | 9% | 15% | 17% | 13% | 16% | -1.5% |
| Other Income | 2 | 1 | 2 | 8 | 3 | 1 | 3 | 3 | 3 |
| Interest | 2 | 2 | 2 | 1 | 1 | 1 | 0 | 1 | 1 |
| Depreciation | 2 | 4 | 3 | 2 | 1 | 2 | 3 | 4 | 5 |
| PBT | 3 | -8 | 3 | 16 | 21 | 20 | 20 | 33 | -4 |
| Tax % | 7% | -19% | 41% | 10% | 29% | 26% | 23% | 28% | -64% |
| Net Profit | 3 | -7 | 2 | 14 | 15 | 15 | 16 | 24 | -2 |
| EPS (₹) | 636 | -1,348 | 388 | 2,852 | 2,950 | 9.81 | 10.05 | 15.17 | -1.01 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 15 | 15 | 16 | 16 |
| Reserves | 51 | 44 | 46 | 60 | 69 | 101 | 118 | 144 | 143 |
| Borrowings | 26 | 26 | 20 | 6 | 6 | 0 | 5 | 20 | 13 |
| Other Liabilities | 14 | 13 | 27 | 32 | 26 | 25 | 25 | 47 | 26 |
| Total Liabilities | 91 | 83 | 93 | 97 | 101 | 141 | 163 | 227 | 198 |
| Fixed Assets | 19 | 21 | 19 | 15 | 20 | 13 | 82 | 85 | 92 |
| CWIP | 2 | 1 | 0 | 0 | 7 | 36 | 0 | 0 | 3 |
| Investments | 4 | 5 | 7 | 6 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 67 | 56 | 67 | 77 | 74 | 92 | 81 | 142 | 102 |
| Total Assets | 91 | 83 | 93 | 97 | 101 | 141 | 163 | 227 | 198 |
Cash Flow
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating | 9 | -2 | 11 | 7 | 10 | 7 | 7 | -2 | 23 |
| Investing | -12 | -3 | -1 | 4 | -9 | -35 | -30 | -7 | -15 |
| Financing | 7 | -2 | -8 | -12 | -5 | 35 | 4 | 15 | -8 |
| Net Cash Flow | 4 | -7 | 1 | -2 | -4 | 7 | -19 | 6 | 0 |
| Free Cash Flow | 5 | -4 | 11 | 8 | 1 | -26 | -26 | -13 | 7 |
| CFO/OP | 226 | 20 | 197 | 65 | 62 | 61 | 63 | 9 | -1,703 |
Ratios
| Particulars | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 70 | 76 | 90 | 81 | 54 | 76 | 71 | 132 | 134 |
| Inventory Days | 145 | 234 | 170 | 95 | 128 | 156 | 126 | 118 | 267 |
| Days Payable | 34 | 32 | 119 | 112 | 71 | 63 | 45 | 92 | 83 |
| Cash Conversion Cycle | 181 | 278 | 141 | 64 | 111 | 169 | 152 | 157 | 319 |
| Working Capital Days | 86 | 119 | 74 | 68 | 80 | 121 | 121 | 120 | 202 |
| ROCE % | — | -8% | 8% | 18% | 30% | 25% | 14% | 21% | -2% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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55 extracted metrics + investor summaries across FY18–FY26.
Documents
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Company Information
Incorporated in 2004, Frog Cellsat Ltd manufactures in-building coverage solutions and mobile network accessories for mobile service providers and operators. It also provides installations, repair and maintenance services[1]
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