Frog Innovations
- Market cap
- ₹ 354 Cr.
- P/E
- 12x
- P/B
- 2.23x
- 52-week range
- 123.5 – 304.95
- ROE
- −1%
- ROCE
- −2%
- Dividend yield
- 0%
- Debt / equity
- 0.08
- Sector
- Telecom - Equipment & Accessories
- Industry
- Telecom - Equipment & Accessories
- Listed on
- NSE SME
About
Frog Innovations Limited, formerly Frog Cellsat Limited, is an India-based company engaged in the manufacturing of radio frequency (RF) equipment. It manufactures in-building coverage solutions and mobile network accessories for mobile service providers and operators. Its product portfolio offers a range of both indoor and outdoor coverage solutions and services. Its product categories include repeaters, public safety, optical distributed antenna system (DAS), network accessories, railways solutions, antennas and in-building services (IBS) accessories. Its repeaters include home repeaters, channelized repeaters, band selective repeaters, frequency shift repeaters, optical repeaters, line amplifiers and network monitor systems. Its network accessories include RF cable assemblies, RF combiners and diplexers. Its antenna products include IBS antennas, small cell antennas and BTS antennas. Its services include repeater services, IBS, base transceiver station services and iBwave planning.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Telecom - Equipment & Accessories: 14 companies →Frog Innovations against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)12 against a typical 43.6: cheaper than most peers (1st = cheapest).3rd of 13
- Sales growth−26.1% against a typical +40.6% from a year earlier.12th of 13
- Profit growth−120% against a typical +65% from a year earlier.8th of 9
- Share price, 3 months+10.7% against a typical +10.7%.7th of 13
- Size₹ 354 Cr. market value against a typical ₹ 845.1 Cr. (1st = largest).8th of 13
Latest announcements
Exchange filings and their impact on the company.
- Frog to locally make LigoWave wireless gear in Noida, entering a Rs 4,000 cr market.
Frog Innovations signed a strategic manufacturing and business partnership with US-based LigoWave at IMC 2026. Frog will manufacture LigoWave's wireless broadband and Wi-Fi portfolio in India at its Noida facility starting in calendar 2026, sold under the FROG LigoWave brand. The tie-up marks Frog's entry beyond DAS into PtP/PtMP radios and enterprise Wi-Fi, targeting India's Rs 4,000 cr market projected to exceed Rs 8,300 cr by FY2032, with plans for 11AX/11BE products and exports.
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 21 May 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2026 and other business matters |
| 13 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 6 Aug 2025 | Other business matters | To consider other business matters |
| 20 May 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2025 and other business matters |
| 21 Jan 2025 | Financial Results/Other business matters | To consider and approve the quaterly financial results for the period ended December 31, 2024 and other business matters |
| 19 Oct 2024 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2024 and other business matters |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | 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 |
| Profit before tax | 10 | 8 | 7 | 26 | 0 | −5 |
| Tax % | 29% | 31% | 21% | 30% | 349% | −88% |
| Net Profit | 7 | 5 | 5 | 18 | −1 | −1 |
| EPS in Rs | 6.35 | 3.43 | 3.43 | 11.75 | −0.66 | −0.35 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- −3%
- 3 Years
- −7%
- TTM
- −52%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- −105%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 4%
- TTM
- —
- 10 Years
- —
- 5 Years
- 12%
- 3 Years
- 8%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Frog Innovations | ₹ 227.00 | ₹ 354 Cr. | 12x | 2.2x | −1% | — |
| HFCL | ₹ 240.45 | ₹ 36,803 Cr. | 100.1x | 6.7x | 7% | 6.7% |
| ITI | ₹ 215.45 | ₹ 20,719 Cr. | — | 14.4x | 16.6% | 13.4% |
| Tejas Networks | ₹ 410.00 | ₹ 7,297 Cr. | — | 3.3x | −26.8% | −82.4% |
| Avantel | ₹ 136.55 | ₹ 3,606 Cr. | 308.2x | 13.4x | — | 7.1% |
| Vindhya Telelinks | ₹ 2,478.30 | ₹ 2,894 Cr. | 9.6x | 0.5x | 5.3% | 6.1% |
Prices are delayed and for information only. Nothing on this page is investment advice.