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Frog Innovations Ltd (FROG)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: FROG Telecommunication - Equipment | Small Cap | Frog Innovations Share Price

BSE Share Price
Not Listed

Frog Innovations Ltd (FROG)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: FROG Telecommunication - Equipment | Small Cap | Frog Innovations Share Price

BSE Share Price
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹261 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹-2.4
TTM Sales
₹86.8 Cr.
Book Value per Share
₹99.9
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
132.5
Price to Book (P/B)
1.68
Lower than its 5-year historical median
Price to Sales (P/S)
3.01
Higher than its 5-year historical median
EV/EBITDA
-284.70
Lower than its 5-year historical median
Dividend Yield
NAN%
Profitability Efficiency
Return on Equity (ROE)
-2.37%
Underperforms industry median
Return on Capital Employed (ROCE)
-3.73%
Underperforms industry median
Return on Assets (ROA)
-1.86%
Operating Profit Margin
-3.4%
Net Profit Margin
-4.23%
Gross Profit Margin
-1.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-60.41%
Operating Profit Growth (1 Year)
-
-111.01%
Net Profit Growth (1 Year)
-
-115.58%
Asset Quality
Promoter Holding
72.54%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹140 Cr.
Equity
₹15.6 Cr.
Face Value
₹10
All Time Low / High
- / -

Frog Innovations stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is Frog Innovations Ltd a good quality company?
Frog Innovations Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Frog Innovations Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Frog Innovations Ltd vs industry peers?
Frog Innovations Ltd revenue CAGR is 20.31%, compared to the industry median CAGR of 12.15%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Frog Innovations Ltd?
Promoters hold 72.54% of the Frog Innovations Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Frog Innovations Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of -0.77% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Frog Innovations Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 18.4%7%-8.5%6.5%17.9%33.4%23.9%15.7%21.6%-3.7%-
Value Creation
Index
0.3-0.5-1.6-0.50.31.40.70.10.5-1.3-

Growth Parameters

Sales 86.988.560.58712013313515821986.887
Sales YoY Gr.-1.9%-31.7%43.9%37.7%10.9%1.7%16.6%39.1%-60.4%-
Adj EPS 6.52.4-6.11.15.612.311.48.515.3-1.8-2.4
YoY Gr.--62.6%-351.5%NA399.1%118.8%-7.5%-25.3%79.1%-111.5%-
BVPS (₹) 42.545.239.24045.953.875.184.699.499.999.9
Adj Net
Profit
7.32.7-6.91.36.41417.613.223.7-2.7-4
Cash Flow from Ops. 0.99.8-3.28.972.47.16.9-2.422.9-
Debt/CF from Ops. 14.32.6-7.420.52.600.7-8.40.6-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -0%-6.2%-13.7%-60.4%
Adj EPS -186.6%-179.2%-153.6%-111.5%
BVPS10%16.9%10%0.5%
Share Price - - -12.3% -30.1%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
16.55.5-14.42.913.124.819.910.716.4-1.8-2.4
Op. Profit
Mgn %
12.75.1-6.56.38.814.518.612.516.3-3.416
Net Profit
Mgn %
8.43.1-11.31.55.310.5138.410.8-3.2-4.2
Debt to
Equity
0.30.50.50.40.10.1000.10.10
Working Cap
Days
193219293201165151165165171444112
Cash Conv.
Cycle
1141341691025954849910029560

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales8789608712013313515821987
Operating Expenses + 7684648211011411113818491
Manufacturing Costs9151821171822303815
Material Costs515532487979688912153
Employee Cost 9987761091213
Other Costs 75667111010139
Operating Profit 115-451019252035-4
Operating Profit Margin (%) 12.6%5.1%-6.6%5.8%8.2%14.3%18.3%12.5%16.1%-4.5%
Other Income + 2212331333
Exceptional Items 000000-300-0
Interest 1222111011
Depreciation 2233212345
Profit Before Tax 103-82920211933-7
Tax 20-2136649-3
Profit After Tax 83-71714151524-4
PAT Margin (%) 8.9%3.4%-11.3%1.1%5.5%10.5%11.4%9.6%10.7%-4.2%
Adjusted EPS (₹)6.92.7-6.10.95.912.410.19.815.2-2.4
Dividend Payout Ratio (%)0%0%0%0%0%35.80%0%0%0%0%

Valuation of Frog Innovations - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 485144455261115131154155
Share Capital 00000015151616
Reserves 485144455261100115139140
Debt +1224211535052013
Long Term Debt2151210330005
Short Term Debt109950205208
Minority Interest0000000000
Trade Payables7631824151193010
Others Liabilities 1434324912-0
Total Liabilities 688571828283131154217178

Fixed Assets

Net Fixed Assets +99129568768087
Gross Block1518232318202393101113
Accumulated Depreciation791114131415172126
CWIP 02000736003
Investments 210101112100011
Inventories15181618162425263233
Trade Receivables28171321272028317934
Cash Equivalents 687910420165
Others Assets 8201414121214191914
Total Assets 688571828283131154217178

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 110-397277-223
PBT 103-82920241933-7
Adjustment 4253300-124
Changes in Working Capital -11615-5-15-8-6-3130
Tax Paid -2-2-1-1-0-2-6-5-6-4
Cash Flow From Investing Activity + -1-180-05-7-33-30-7-16
Capex -2-5-4-12-9-32-33-11-15
Net Investments -0-134-1-121000
Others 101140-134-1
Cash Flow From Financing Activity + 010-4-8-14-335415-8
Net Proceeds from Shares 00000042000
Net Proceeds from Borrowing 012-2-2-70-3005
Interest Paid -1-1-2-2-1-0-1-0-1-0
Dividend Paid 00000-50000
Others 1-10-3-52-3516-12
Net Cash Flow -02-71-2-89-195-1

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)17.546.11-14.382.1613.6224.7917.5412.2816.54-2.37
ROCE (%)18.377.01-8.496.5117.8533.3523.8715.7421.56-3.73
Asset Turnover Ratio1.451.160.781.131.461.611.261.111.180.44
PAT to CFO Conversion(x)0.133.33N/A910.140.470.47-0.08N/A
Working Capital Days
Receivable Days89.2092.8089.4071.6073.4063.6064.1067.9091.40237
Inventory Days72.4067.70102.1071.5052.6055.206659.3048.30137
Payable Days67.1038.9044.3070.4091.8090.9071.7042.3058.70136.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Frog Innovations Ltd FAQs

The current trading price of Frog Innovations on 01-Jan-1970 05:30 is ₹0.00.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 31-Dec-1969 the market cap of Frog Innovations stood at ₹261.2 Cr

The latest P/E ratio of Frog Innovations as of 31-Dec-1969 is 0.00.

The latest P/B ratio of Frog Innovations as of 31-Dec-1969 is 1.68.

The 52-week high of Frog Innovations is ₹0.00 and the 52-week low is ₹0.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Frog Innovations is ₹86.84 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Frog Innovations Ltd is a average quality company.

The key valuation ratios of Frog Innovations Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Frog Innovations Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Frog Innovations Ltd

The Company was incorporated on July 12, 2004 as a private limited company under the provisions of Companies Act, 1956 with the Registrar of Companies, Delhi in the name and style of ‘Frog Cellsat Private Limited’. Subsequently, the Company was converted into public limited company pursuant to which the name of the Company was changed to “Frog Cellsat Limited” vide shareholder’s approval on February 20, 2014 and fresh certificate of incorporation dated March 25, 2014. The Company got listed on Emerge ITP Platform of National Stock Exchange of India Limited (NSE) on May 02, 2014. Further, the Company had made an application for delisting and NSE vide its letter dated June 6, 2018 hereby notified that the securities shall be delisted with effect from June 13, 2018. Further the admissions to dealings in the securities were withdrawn w.e.f. June 20, 2018.

The company is engaged in manufacturing of telecom equipment’s used by telecom operator’s especially in Telecom Towers. It manufactures 2G/3G/4G Multi-band Digital RF Repeaters, Multi-band Frequency Shift Repeater, Multi-band Optical DAS system, relative software and accessories. It also offer In-Building Coverage Planning and Design services along with Radio Access Network (RAN) and Backhaul Network installation services. The company has two production unit one is located in Noida and second one is in located in Dehradun. Its end-to-end RF enhancement solutions are well positioned in the industry for being price competitive, field proven, future-ready, and highly reliable. Its design, development, manufacturing, and quality control processes are ISO 9001:2015 certified. Its success is an outcome of strategic focus on innovative R&D, to produce a unique range of RF products conforming to the applicable standards from ETSI, 3GPP, TEC, and other standardization bodies.

It is one of the most experienced and focused Telecommunication equipment suppliers. Since inception, it has been expanding and diversifying its product portfolio to offer the widest range of indoor and outdoor coverage solutions in the industry today. It directly sale its products in the market and are not dependent upon any dealers/distributors for sale of products. The company is providing its products and services across Asia, Europe, Africa, and the Middle East. Its main products are 2G/3G/4G Multi-band Digital RF Repeaters, Multi-band Frequency Shift Repeater, Multi-band Optical DAS system, relative software and accessories. Also, its Production line is equipped with anti-static equipment, all products are subject to rigorous and reliability tests. It has been awarded the India-Israel Industrial R&D and Technology Innovation Fund (I4F) established by Department of Science & Technology (DST), Government of India from the Indian side and Israel Innovation Authority (IIA) from the Israeli side for development of Cellular Interface Mitigation Solution for Indian Market, based on UBiFiX Solution. UBiFiX solution assists mobile operators to protect and extract the most out of their licensed spectrum by cancelling external interference at the input of a cellular base-station receiver.

Business area of the company

The company is one of the most experienced and focused Telecommunication equipment suppliers. Its main products are 2G/3G/4G Multi-band Digital RF Repeater, Multi-band Frequency Shift Repeater, Multi-band Optical DAS system, relative software and accessories. Also, our Production line is equipped with anti-static equipment, all products are subject to rigorous and reliability tests.

Key events and milestones

  • 2004: The company was incorporated as Frog Cellsat Private Limited.
  • 2014: The company changed its name from ‘Frog Cellsat Private Limited’ to ‘Frog Cellsat Limited’.
  • 2014: The company was converted into Public Limited Company vide fresh certificate of incorporation dated March 25, 2014.
  • 2014: The company got listed on ITP Platform of National Stock Exchange of India Limited (NSE).
  • 2019: Recognized as Great Place to Work with ranking as 12th best among all India Mid-sized companies.
  • 2022: The company was assigned Credit Rating of ‘BWA SME 1’ (indicates ‘Highest’ level of credit worthiness adjudged in relation to other SMEs) by Brickworks.
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