Price
Financials
Consolidated, Rs crore| 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% | 1.0% | -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 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 89 | 60 | 87 | 121 | 133 | 133 | 158 | 219 | 106 |
| Expenses | 84 | 64 | 81 | 110 | 113 | 111 | 137 | 184 | 108 |
| Operating Profit | 5 | -3 | 6 | 11 | 20 | 22 | 20 | 36 | -2 |
| OPM % | 6% | -5% | 7% | 9% | 15% | 17% | 13% | 16% | -1.5% |
| 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% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | -3% | -7% | -52% | ||
| Compounded Profit Growth | % | % | % | -105% | ||
| Stock Price CAGR | % | % | 4% | 11% | ||
| Return on Equity | % | 12% | 8% | -1% |
| 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 | 26 |
| Total Liabilities | 91 | 83 | 93 | 97 | 101 | 141 | 163 | 227 | 198 |
| Fixed Assets | 19 | 21 | 19 | 15 | 20 | 13 | 82 | 85 | 92 |
| CWIP | 2 | 1 | 0 | 0 | 7 | 36 | 0 | 0 | 3 |
| Investments | 4 | 5 | 7 | 6 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 67 | 56 | 67 | 77 | 74 | 92 | 81 | 142 | 102 |
| Total Assets | 91 | 83 | 93 | 97 | 101 | 141 | 163 | 227 | 198 |
| 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% | 61% | 63% | 9% | -1,703% |
| 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 | 76 | 71 | 132 | 134 |
| Inventory Days | 145 | 234 | 170 | 95 | 128 | 156 | 126 | 118 | 267 |
| Days Payable | 34 | 32 | 119 | 112 | 71 | 63 | 45 | 92 | 83 |
| Cash Conversion Cycle | 181 | 278 | 141 | 64 | 111 | 169 | 152 | 157 | 319 |
| Working Capital Days | 86 | 119 | 74 | 68 | 80 | 121 | 121 | 120 | 202 |
| ROCE % | -8% | 8% | 18% | 30% | 25% | 14% | 21% | -2% |
| Sep 2022 | Oct 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Promoters | 99.99% | 73.49% | 74.39% | 74.39% | 74.10% | 72.71% | 72.66% | 72.54% | 72.54% |
| FIIs | 0.00% | 2.22% | 0.00% | 0.00% | 0.00% | 0.01% | 0.29% | 0.20% | 0.20% |
| DIIs | 0.00% | 0.76% | 1.75% | 1.87% | 0.00% | 0.00% | 0.00% | 0.12% | 0.55% |
| Public | 0.01% | 23.53% | 23.86% | 23.74% | 25.90% | 27.28% | 27.05% | 27.14% | 26.71% |
| No. of Shareholders | 8 | 1,410 | 1,135 | 1,734 | 2,493 | 3,726 | 3,730 | 3,315 | 3,084 |
Fundamentals
Market Cap₹ 408 Cr.
Current Price₹ 262
Book Value₹ 102
ROCE-1.91 %
ROE-0.71 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-52%
Compounded Profit Growth (TTM)-105%
Consolidated figures.
Valuation
Market capRs 393 Cr
Enterprise valueRs 407 Cr
P/E (TTM)16.71x
Price to book2.46x
Price to sales1.79x
EV / EBITDA10.58x
EV / EBIT11.91x
EV / sales1.85x
Earnings yield5.99%
P/E, 3-year average15.06x
P/B, 3-year average1.96x
P/E, 5-year average15.06x
P/B, 5-year average1.96x
Profitability
Operating margin (excl. other income)16.21%
Operating margin (incl. other income)17.51%
EBITDA margin17.51%
Pre-tax margin14.97%
Net profit margin10.73%
ROE16.07%
ROCE21.46%
ROA12.08%
ROE, 3-year average14.92%
ROCE, 3-year average19.86%
ROA, 3-year average11.57%
ROE, 5-year average18.92%
ROCE, 5-year average23.26%
ROA, 5-year average12.93%
ROIC (approx.)14.14%
Tax rate28.28%
Other income / net worth1.78%
Growth
Sales growth (latest year)39.09%
Profit growth (latest year)51.74%
Sales CAGR, 3 years18.16%
Sales CAGR, 5 years20.31%
Profit CAGR, 3 years16.88%
Profit CAGR, 5 years64.75%
Per share
EPS (TTM)Rs 15.17
EPS (latest year)Rs 15.17
EPS, 3-year averageRs 11.68
EPS, 5-year averageRs 1,167.41
Book value per shareRs 103.00
Sales per shareRs 141.28
Cash flow per shareRs -1.33
Free cash flow per shareRs 4.51
Efficiency
Asset turnover0.97x
Fixed asset turnover2.57x
Inventory turnover3.22x
Inventory days114 days
Debtor days132 days
Debtors turnover2.77x
Creditor days83 days
Cash conversion cycle319 days
Working capital days202 days
Leverage
Total debtRs 20 Cr
Cash and bankRs 7 Cr
Net debtRs 13 Cr
Debt to equity0.13x
Net debt / EBITDA0.34x
Interest coverage26.87x
Owners' fund to total sources70.40%
Debt to assets8.90%
Cash flow
Cash from Operating Activity (latest year)Rs -2 Cr
Cash from Investing Activity (latest year)Rs -7 Cr
Cash from Financing Activity (latest year)Rs 15 Cr
Net Cash Flow (latest year)Rs 6 Cr
Free cash flow (latest year)Rs 7 Cr
FCFE (approx.: FCF + change in debt)Rs 23 Cr
Cash from ops / profit, 5 years0.66x
Statement figures
Net sales (TTM)Rs 219 Cr
Net sales (latest year)Rs 219 Cr
Operating profit excl. other income (latest year)Rs 36 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 38 Cr
PBDT (TTM)Rs 37 Cr
Profit before tax (TTM)Rs 33 Cr
Tax (latest year)Rs 9 Cr
Net profit (TTM)Rs 24 Cr
Net profit (latest year)Rs 24 Cr
Depreciation (TTM)Rs 4 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 126 Cr
Total expenditure (latest year)Rs 184 Cr
Total income (latest year)Rs 222 Cr
Share capitalRs 16 Cr
ReservesRs 144 Cr
Shareholders' fundsRs 160 Cr
Total assetsRs 227 Cr
Net blockRs 85 Cr
InvestmentsRs 0 Cr
ReceivablesRs 79 Cr
InventoryRs 39 Cr
Other liabilitiesRs 47 Cr
Shares outstanding (crore)1.55
Ownership
Promoter holding72.54% (-1.56 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 16.7 is at the 22th percentile of its own 4.1-year range
(median 22.4, low 10.8, high 42.9).
P/B 2.46 is at the 20th percentile (median 4.00).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | FROG | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -5.8% | -2.8% | -3.0 pts |
| 1 month | -2.8% | -6.8% | +4.0 pts |
| 3 months | +50.8% | -7.6% | +58.5 pts |
| 6 months | +89.4% | +0.4% | +89.0 pts |
| 1 year | +2.1% | -9.9% | +12.0 pts |
| 2 years | -18.0% | -13.6% | -4.5 pts |
| 3 years | +10.2% | +14.2% | -4.0 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was 23% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 11% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 157% vs sales +39% in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Mar 2026Sales ₹51 Cr -26.1% vs Sep 2023.
Net loss ₹1 Cr.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Close to Close price movement greater than 50perc in previous 3 monthsClose to Close price movement greater than 75perc in previous 6 monthsEPS in the scrip is zero (4 trailing quarters)High low price variation greater than 75perc in previous 3 monthsLess than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded
Quick answers
What is the market cap of Frog Innovations Ltd?
Frog Innovations Ltd (FROG) has a market capitalisation of Rs 408 Cr. at the 2026-10-01 close.
What were Frog Innovations Ltd's latest quarterly results?
In the Mar 2026 quarter, Frog Innovations Ltd sales was Rs 51 Cr (-26.1% vs Sep 2023) with a net loss of Rs 1 Cr.
What is the 52-week high and low of Frog Innovations Ltd?
The 52-week high is Rs 304.95 and the 52-week low is Rs 123.50.