Frog Innovations Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹348 Cr
- ROE
- -0.71%
- Price to sales
- 3.28
- Debt to equity
- 0.08
- 52W high / low
- ₹299 / ₹126
- Sales growth (5Y)
- -2.59%
- EBITDA margin
- -1.49%
- Net profit margin
- -1.07%
- Promoter holding
- 72.54%
- Sales (last year)
- ₹106 Cr
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]
Guidance scorecard · Q1 FY27 call
What Frog Innovations Ltd's management guided
and where it ranks in Telecom - Equipment & Accessories
Telecom - Equipment & Accessories
RevenueQ1 FY27 call
20–40%- The company targets to surpass FY25 revenue levels (~220 crores) by FY27, aiming approximately 200 crores in top line.
- Revenue growth is expected mainly from DAS projects, with closure and delivery primarily in the second half of FY27.
- Expansion into surveillance (CCTV) and AI analytics is underway, with revenues from CCTV expected around 50 crores this year.
- SMT line currently supports job work.
- New business verticals like EMS and AI analytics have significant market potential and are expected to contribute to growth.
2 more points from Frog Innovations Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Frog Innovations Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Frog Innovations is planning a land purchase for expansion primarily related to CCTV and EMS (Electronic Manufacturing Services) business.
- The company is looking at an investment of around ₹40 crores for this land purchase.
- Majority stake takeover in Vinfocom Solutions, a software solutions company specializing in AI and AI analytics for surveillance, is part of their strategic investment.
- Currently, no immediate fund raising planned; will use own working limits for expansion.
2 more points from Frog Innovations Ltd's call on capex
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FundraisingQ1 FY27 call
None plannedSee what Frog Innovations Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current disclosed order book is around ₹35-40 crores, mostly passive products.
- For the DAS portfolio (active components), the company has visibility and ongoing deals aligning with the FY27 revenue target of ₹200 crores.
- The company follows a practice of sharing such details during official results announcements.
- The company expects DAS project closures primarily in the second half of FY27, contributing to revenue.
2 more points from Frog Innovations Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Telecom - Equipment & Accessories
on management's own guidance
- Tejas Networks LtdGood growth2
- Sterlite Tech.Good growth1
- 3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Telecom - Equipment & Accessories companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Sterlite Tech. | 20–40% | Up 2%+ | ₹44,598 Cr | 188.8 |
| 2 | Tejas Networks Ltd | 20–40% | Flat | ₹7,599 Cr | — |
| 3 | Frog InnovationsThis stock | 20–40% | Flat | ₹405 Cr | — |
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Pro shows every company guiding 40%+ revenue growth →Full Telecom - Equipment & Accessories rankingFinancials of Frog Innovations Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Frog Innovations Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Frog Innovations Ltd
Profit & Loss
Annual income statement trend
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 89 | 60 | 87 | 121 | 133 | 135 | 158 | 219 | 106 |
| Expenses + | 84 | 64 | 81 | 110 | 113 | 111 | 137 | 184 | 108 |
| Operating Profit | 5 | -3 | 6 | 11 | 20 | 24 | 20 | 36 | -2 |
| OPM % | 6% | -5% | 7% | 9% | 15% | 18% | 13% | 16% | -1% |
| 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 |
| Profit before tax | 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 in Rs | 636.00 | -1,348.00 | 388.00 | 2,852.00 | 2,950.00 | 9.81 | 10.05 | 15.17 | -1.01 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Frog Innovations Ltd
Balance Sheet
Capital structure and asset base
| 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 | 20 |
| Total Liabilities | 91 | 83 | 93 | 97 | 101 | 141 | 163 | 227 | 192 |
| Fixed Assets + | 19 | 21 | 19 | 15 | 20 | 13 | 82 | 85 | 95 |
| CWIP | 2 | 1 | 0 | 0 | 7 | 36 | 0 | 0 | 1 |
| Investments | 4 | 5 | 7 | 6 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 67 | 56 | 67 | 77 | 74 | 92 | 81 | 142 | 96 |
| Total Assets | 91 | 83 | 93 | 97 | 101 | 141 | 163 | 227 | 192 |
Financials of Frog Innovations Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 9 | -2 | 11 | 7 | 10 | 7 | 7 | -2 | 23 |
| Cash from Investing Activity + | -12 | -3 | -1 | 4 | -9 | -35 | -30 | -7 | -15 |
| Cash from Financing Activity + | 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% | 55% | 63% | 9% | -1,703% |
Financials of Frog Innovations Ltd
Ratios
Working capital efficiency and return ratios
| 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 | 75 | 71 | 132 | 134 |
| Inventory Days | 145 | 234 | 170 | 95 | 128 | 156 | 126 | 118 | 229 |
| Days Payable | 34 | 32 | 119 | 112 | 71 | 63 | 45 | 92 | 83 |
| Cash Conversion Cycle | 181 | 278 | 141 | 64 | 111 | 168 | 152 | 157 | 280 |
| Working Capital Days | 86 | 119 | 74 | 68 | 80 | 119 | 121 | 120 | 183 |
| ROCE % | -8% | 8% | 18% | 30% | 25% | 14% | 21% | -2% |
Guidance history
How Frog Innovations Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | None planned | Rising |
| Q4 FY26 call → | 40%+ | — | Planned | — | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | Flat |
| Q4 FY25 call → | 20–40% | Flat | Planned | — | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Frog Innovations Ltd's management said in earlier quarters
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