Frog Innovations Ltd (FROG) — shareholding pattern, promoter holding, financials and share price
About Frog Innovations Ltd (FROG)
Frog Innovations Ltd operates in the Telecom - Equipment & Accessories industry, within the Telecommunication sector. It trades on the NSE as FROG and on the BSE under scrip code 521254. Its ISIN is INE385O01018.
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]
Frog Cellsat Limited is a premier design house and manufacturer of advanced radio frequency equipment, specializing in digital RF repeaters and DAS systems to enhance wireless coverage.
In FY25, the company experienced staggering growth, with a 39.1% increase in revenue and a 72.6% rise in adjusted EBITDA, driven by large deployments, especially in airports.
Listed peers in Telecom - Equipment & Accessories: Kavveri Defence & Wireless Technologies Ltd, Umiya Buildcon Ltd, Aksh Optifibre Ltd, Telogica Ltd, Punjab Communications Ltd, Tamil Nadu Telecommunications Ltd.
Valuation & Returns
10 Jul 2026At ₹177.5 a share on 10 Jul 2026, Frog Innovations Ltd (FROG) was valued at a price-to-earnings ratio of 11.73x against an industry P/E of 48.72x and a price-to-book of 1.74x on a book value of ₹102.2 per share as of Mar 2026. Solomo computes return on equity of 14.81% and return on capital employed of 19.69% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2024 to Mar 2025.
- P/E
- 11.73x
- Industry P/E
- 48.72x
- P/B
- 1.74x
- EPS (TTM)
- ₹15.13
- Book value / share
- ₹102.2
- ROE
- 14.81%
- ROCE
- 19.69%
- ROA
- 12.25%
- Debt / equity
- 0.08x
- Dividend yield
- 0%
- EBITDA margin
- 1.32%
- 52-week range
- ₹123.5 – ₹275
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Frog Innovations Ltd (FROG) reported revenue of ₹106 crore, net profit of ₹-2 crore and earnings per share of ₹-1.01. That compares with revenue of ₹219 crore and net profit of ₹24 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹51 crore and net profit ₹-1 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 133 | 133 | 158 | 219 | 106 |
| Net profit (₹ cr) | 15 | 15 | 16 | 24 | -2 |
| EPS (₹) | 2,950 | 9.81 | 10.05 | 15.17 | -1.01 |
| Measure | 5Y | 3Y | 1Y |
|---|---|---|---|
| Sales growth | -6.24% | -13.72% | -51.65% |
| Profit growth | - | - | -106.67% |
| Stock price CAGR | - | -16% | -28% |
Ownership Summary
Mar 2026As of Mar 2026, promoters hold 72.54% of Frog Innovations Ltd (FROG). Market capitalisation was ₹276 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Sep 2022.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Mar 2026 | 72.54% | - | - | - | - |
| Sep 2025 | 72.54% | - | - | - | - |
| Mar 2025 | 72.66% | - | - | - | - |
| Sep 2024 | 72.71% | - | - | - | - |
| Mar 2024 | 74.1% | - | - | - | - |
| Sep 2023 | 74.39% | - | - | - | - |
| Mar 2023 | 74.39% | - | - | - | - |
| Sep 2022 | 99.99% | - | - | - | - |