SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

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
₹264 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹-2.4
TTM Sales
₹86.8 Cr.
Book Value per Share
₹99.2
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
132.8
Price to Book (P/B)
1.71
Lower than its 5-year historical median
Price to Sales (P/S)
3.04
Higher than its 5-year historical median
EV/EBITDA
-294.83
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
16.54%
Outperforms industry median
Return on Capital Employed (ROCE)
21.56%
Outperforms industry median
Return on Assets (ROA)
12.72%
Operating Profit Margin
16.3%
Net Profit Margin
10.74%
Gross Profit Margin
16.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
39.11%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
79.16%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
55.92%
Asset Quality
Promoter Holding
72.54%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹139 Cr.
Equity
₹15.6 Cr.
Face Value
₹10
All Time Low / High
- / -

Frog Innovations stock performance

Key Ratios
mw4me loader

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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 30.3%18.4%7%-8.5%6.5%17.9%33.4%23.9%15.7%21.6%-
Value Creation
Index
1.20.3-0.5-1.6-0.50.31.40.70.10.5-

Growth Parameters

Sales 84.186.988.560.58712013313515821987
Sales YoY Gr.-3.3%1.9%-31.7%43.9%37.7%10.9%1.7%16.6%39.1%-
Adj EPS 7.96.52.4-6.11.15.612.311.48.515.3-2.4
YoY Gr.--18.6%-62.6%-351.5%NA399.1%118.8%-7.5%-25.3%79.1%-
BVPS (₹) 35.742.545.239.24045.953.875.184.699.499.2
Adj Net
Profit
97.32.7-6.91.36.41417.613.223.7-4
Cash Flow from Ops. 6.30.99.8-3.28.972.47.16.9-2.6-
Debt/CF from Ops. 214.32.6-7.420.52.600.7-7.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 11.2%20.3%18.2%39.1%
Adj EPS 7.6%68.4%7.4%79.1%
BVPS12.1%20%22.7%17.4%
Share Price - - -8% -27.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
2516.55.5-14.42.913.124.819.910.716.4-2.4
Op. Profit
Mgn %
19.112.75.1-6.56.38.814.518.612.516.316
Net Profit
Mgn %
10.68.43.1-11.31.55.310.5138.410.8-4.2
Debt to
Equity
0.30.30.50.50.40.10.1000.10
Working Cap
Days
224193219293201165151165165171112
Cash Conv.
Cycle
1091141341691025954849910060

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales8487896087120133135158219
Operating Expenses + 6876846482110114111138184
Manufacturing Costs391518211718223038
Material Costs495155324879796889121
Employee Cost 1199877610912
Other Costs 67566711101013
Operating Profit 16115-451019252035
Operating Profit Margin (%) 19.1%12.6%5.1%-6.6%5.8%8.2%14.3%18.3%12.5%16.1%
Other Income + 0221233133
Exceptional Items 0000000-300
Interest 1122211101
Depreciation 2223321234
Profit Before Tax 14103-82920211933
Tax 520-2136649
Profit After Tax 983-71714151524
PAT Margin (%) 10.7%8.9%3.4%-11.3%1.1%5.5%10.5%11.4%9.6%10.7%
Adjusted EPS (₹)8.06.92.7-6.10.95.912.410.19.815.2
Dividend Payout Ratio (%)0%0%0%0%0%0%35.80%0%0%0%

Valuation of Frog Innovations - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 40485144455261115131154
Share Capital 0000000151516
Reserves 40485144455261100115139
Debt +1212242115350520
Long Term Debt2215121033000
Short Term Debt1010995020520
Minority Interest0000000000
Trade Payables1276318241511930
Others Liabilities 11434324912
Total Liabilities 65688571828283131154217

Fixed Assets

Net Fixed Assets +9991295687680
Gross Block141518232318202393101
Accumulated Depreciation57911141314151721
CWIP 00200073600
Investments 021010111210001
Inventories23151816181624252632
Trade Receivables19281713212720283179
Cash Equivalents 568791042016
Others Assets 982014141212141919
Total Assets 65688571828283131154217

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 6110-397277-3
PBT 14103-82920241933
Adjustment 34253300-12
Changes in Working Capital -8-11615-5-15-8-6-32
Tax Paid -3-2-2-1-1-0-2-6-5-6
Cash Flow From Investing Activity + -3-1-180-05-7-33-30-7
Capex -2-2-5-4-12-9-32-33-11
Net Investments -1-0-134-1-12100
Others 0101140-134
Cash Flow From Financing Activity + 1010-4-8-14-335415
Net Proceeds from Shares 00000004200
Net Proceeds from Borrowing -1012-2-2-70-300
Interest Paid -1-1-1-2-2-1-0-1-0-1
Dividend Paid 000000-5000
Others 31-10-3-52-3516
Net Cash Flow 5-02-71-2-89-195

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)25.1917.546.11-14.382.1613.6224.7917.5412.2816.54
ROCE (%)30.2818.377.01-8.496.5117.8533.3523.8715.7421.56
Asset Turnover Ratio1.321.451.160.781.131.461.611.261.111.18
PAT to CFO Conversion(x)0.670.133.33N/A910.140.470.47-0.13
Working Capital Days
Receivable Days87.8089.2092.8089.4071.6073.4063.6064.1067.9091.40
Inventory Days82.8072.4067.70102.1071.5052.6055.206659.3048.30
Payable Days82.8067.1038.9044.3070.4091.8090.9071.7042.3058.70

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 ₹264.1 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 1.71.

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.
You have 0 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×