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10 Yrs X-Ray 
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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
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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
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹429 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹-1
TTM Sales
₹106 Cr.
Book Value per Share
₹102.2
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
126.3
Price to Book (P/B)
2.70
Higher than its 5-year historical median
Price to Sales (P/S)
4.04
Higher than its 5-year historical median
EV/EBITDA
235.95
Higher than its 5-year historical median
Dividend Yield
NAN%
Profitability Efficiency
Return on Equity (ROE)
-1.00%
Return on Capital Employed (ROCE)
-2.16%
Return on Assets (ROA)
-0.77%
Operating Profit Margin
-0.6%
Net Profit Margin
-1.48%
Gross Profit Margin
1.2%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-60.41%
Operating Profit Growth (1 Year)
-
-104.44%
Net Profit Growth (1 Year)
-
-106.67%
Asset Quality
Promoter Holding
72.54%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹143 Cr.
Equity
₹15.6 Cr.
Face Value
₹10
All Time Low / High
₹0.00 / 0.00
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Strong
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?
Revenue growth of Frog Innovations Ltd vs industry peers?
Frog Innovations Ltd revenue CAGR is -2.59%, compared to the industry median CAGR of 0%, indicating slower growth and losing its market share.
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.
Stock return of Frog Innovations Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 5.63% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | -0.5 | 0.3 | 1.4 | 0.7 | 0.1 | 0.5 | -1.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 86.9 | 88.5 | 60.5 | 87 | 120 | 133 | 135 | 158 | 219 | 86.8 | 87 |
| Sales YoY Gr. | - | 1.9% | -31.7% | 43.9% | 37.7% | 10.9% | 1.7% | 16.6% | 39.1% | -60.4% | - |
| Adj EPS ⓘ | 6.5 | 2.4 | -6.1 | 1.1 | 5.6 | 12.3 | 11.4 | 8.5 | 15.3 | -1.8 | -2.4 |
| YoY Gr. | - | -62.6% | -351.5% | NA | 399.1% | 118.8% | -7.5% | -25.3% | 79.1% | -111.5% | - |
| BVPS (₹) ⓘ | 42.5 | 45.2 | 39.2 | 40 | 45.9 | 53.8 | 75.1 | 84.6 | 99.4 | 99.9 | 99.9 |
| Adj Net Profit ⓘ | 7.3 | 2.7 | -6.9 | 1.3 | 6.4 | 14 | 17.6 | 13.2 | 23.7 | -2.7 | -4 |
| Cash Flow from Ops. ⓘ | 0.9 | 9.8 | -3.2 | 8.9 | 7 | 2.4 | 7.1 | 6.9 | -2.4 | 22.9 | - |
| Debt/CF from Ops. ⓘ | 14.3 | 2.6 | -7.4 | 2 | 0.5 | 2.6 | 0 | 0.7 | -8.4 | 0.6 | - |
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% | ||||
| BVPSⓘ | 10% | 16.9% | 10% | 0.5% | ||||
| Share Price | - | - | 4.4% | 6.8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 16.5 | 5.5 | -14.4 | 2.9 | 13.1 | 24.8 | 19.9 | 10.7 | 16.4 | -1.8 | -2.4 |
| Op. Profit Mgn % ⓘ | 12.7 | 5.1 | -6.5 | 6.3 | 8.8 | 14.5 | 18.6 | 12.5 | 16.3 | -3.4 | 16 |
| Net Profit Mgn % ⓘ | 8.4 | 3.1 | -11.3 | 1.5 | 5.3 | 10.5 | 13 | 8.4 | 10.8 | -3.2 | -4.2 |
| Debt to Equity ⓘ | 0.3 | 0.5 | 0.5 | 0.4 | 0.1 | 0.1 | 0 | 0 | 0.1 | 0.1 | 0 |
| Working Cap Days ⓘ | 193 | 219 | 293 | 201 | 165 | 151 | 165 | 165 | 171 | 444 | 112 |
| Cash Conv. Cycle ⓘ | 114 | 134 | 169 | 102 | 59 | 54 | 84 | 99 | 100 | 295 | 60 |
Valuation of Frog Innovations - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|
| Sales | 87 | 121 | 133 | 135 | 158 | 219 | 106 |
| Operating Expenses ⓘ + | 81 | 111 | 113 | 111 | 137 | 184 | 108 |
| Operating Profit ⓘ | 6 | 10 | 20 | 24 | 20 | 36 | -2 |
| Operating Profit Margin (%) | 7.3% | 8.6% | 15.0% | 17.8% | 12.9% | 16.2% | -1.5% |
| Other Income ⓘ + | 1 | 8 | 3 | 1 | 3 | 3 | 3 |
| Interest ⓘ | 2 | 1 | 1 | 1 | 0 | 1 | 1 |
| Depreciation ⓘ | 3 | 2 | 1 | 2 | 3 | 4 | 5 |
| Profit Before Tax ⓘ | 3 | 16 | 21 | 21 | 20 | 33 | -4 |
| Tax ⓘ | 1 | 2 | 6 | 5 | 5 | 9 | -3 |
| Profit After Tax | 1 | 14 | 15 | 15 | 16 | 24 | -2 |
| PAT Margin (%) | 1.6% | 11.8% | 11.1% | 11.2% | 9.8% | 10.7% | -1.5% |
| Adjusted EPS (₹) | 1.2 | 12.6 | 13.1 | 9.8 | 10.1 | 15.2 | -1.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 33.90% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 45 | 60 | 69 | 117 | 132 | 156 | 159 | ||||
| Debt + | 17 | 5 | 5 | 0 | 5 | 20 | 13 | ||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Trade Payables | 16 | 24 | 15 | 12 | 11 | 31 | 12 | ||||
| Others Liabilities ⓘ | 7 | 2 | 5 | 5 | 8 | 12 | 2 | ||||
| Total Liabilities ⓘ | 85 | 90 | 95 | 133 | 156 | 219 | 186 | ||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 19 | 15 | 20 | 13 | 82 | 85 | 92 | ||||
| CWIP ⓘ | 0 | 0 | 7 | 36 | 0 | 0 | 3 | ||||
| Investments ⓘ | 7 | 6 | 1 | 0 | 0 | 0 | 0 | ||||
| Inventories | 18 | 17 | 24 | 25 | 26 | 32 | 33 | ||||
| Trade Receivables | 21 | 27 | 20 | 28 | 31 | 79 | 39 | ||||
| Cash Equivalents | 9 | 16 | 13 | 20 | 1 | 7 | 7 | ||||
| Others Assets ⓘ | 10 | 10 | 11 | 11 | 16 | 16 | 11 | ||||
| Total Assets ⓘ | 85 | 90 | 95 | 133 | 156 | 219 | 186 | ||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 11 | 7 | 10 | 7 | 7 | -2 | 23 |
| Cash Flow From Investing Activity ⓘ + | -1 | 4 | -9 | -35 | -30 | -7 | -15 |
| Cash Flow From Financing Activity ⓘ + | -8 | -12 | -5 | 35 | 4 | 15 | -8 |
| Net Cash Flow ⓘ | 1 | -2 | -4 | 7 | -19 | 6 | -0 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.07 | 27.18 | 22.94 | 16.27 | 12.48 | 16.36 | -1 | |||
| ROCE (%) | 7.5 | 26.29 | 30.63 | 21.99 | 16.16 | 21.45 | -2.16 | |||
| Asset Turnover Ratio | 1.02 | 1.38 | 1.44 | 1.19 | 1.09 | 1.17 | 0.52 | |||
| PAT to CFO Conversion(x) | 11 | 0.5 | 0.67 | 0.47 | 0.44 | -0.08 | N/A | |||
| Working Capital Days | ||||||||||
| Receivable Days | 90 | 72.70 | 63.70 | 64.20 | 67.90 | 91.40 | 203.20 | |||
| Inventory Days | 76.90 | 52.80 | 55.50 | 66 | 59.30 | 48.30 | 112.20 | |||
| Payable Days | 118.90 | 91.80 | 91 | 72.50 | 46.70 | 62.60 | 146.30 | |||
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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 ₹428.5 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 2.76.
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 Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Frog Innovations Ltd is likely to Rise 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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