Frog Innovations Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2013 • Sale: 92.4% • Services: 7.6%
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company is almost debt free
CONS
- Company is loss-making at the operating / net level
- Interest coverage is weak at -11.9x - earnings barely cover interest
- Company has a low return on equity of 8.8% over last 3 years
- Company has a low return on capital employed of 11.2%
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ITI | 267.15 | 97.53 | 25670.09 | 0.00 | -32.25 | 49.30 | 425.03 | -14.65 | 0.28 | 0.48 |
| BBOX | 762.80 | 59.94 | 13547.27 | 0.13 | 55.92 | 17.90 | 1718.50 | 23.92 | 22.50 | 8.67 |
| SEDEMAC | 2849.95 | 121.53 | 12588.37 | 0.00 | 333.10 | — | 3097.70 | — | 37.22 | 19.10 |
| TEJASNET | 575.85 | 0.00 | 10253.89 | 0.00 | -202.24 | -4.32 | 402.16 | 99.11 | -14.93 | -24.96 |
| KRONECOMM | 2337.30 | 47.71 | 1075.16 | 1.07 | 8.58 | 72.64 | 63.41 | 40.79 | 31.44 | 17.09 |
| FROG | 257.95 | 0.00 | 401.22 | 0.00 | 2.99 | -59.48 | 48.48 | 8.94 | -2.16 | 13.92 |
| KAVDEFENCE | 63.44 | 0.00 | 381.43 | 0.00 | -12.11 | -1223.38 | 14.43 | 269.05 | 8.44 | -103.12 |
| PUNJCOMMU | 61.93 | 13.56 | 74.46 | 0.00 | 2.87 | 718.86 | 5.83 | -12.56 | -0.52 | 13.75 |
| SHYAMTEL | 11.52 | 0.00 | 12.98 | 0.00 | -19.94 | -405.32 | 0.00 | — | 0.00 | — |
| UNIINFO | 11.25 | 0.00 | 12.03 | 0.00 | 0.14 | 440.00 | 8.36 | -1.42 | -0.99 | 5.29 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 38 | 31 | 33 | 35 | 45 | 44 | 36 | 44 | 91 | 48 | |
| 0 | 32 | 26 | 29 | 30 | 40 | 38 | 32 | 41 | 69 | 42 | |
| Operating Profit | 0 | 6 | 6 | 4 | 5 | 5 | 7 | 4 | 2 | 22 | 7 |
| OPM % | — | 16.10% | 18.09% | 11.98% | 13.32% | 10.23% | 14.64% | 11.10% | 5.23% | 24.48% | 13.47% |
| 0 | 0 | 1 | 1 | -0 | 0 | 2 | 0 | 3 | -0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 0 | 6 | 6 | 4 | 4 | 4 | 7 | 3 | 4 | 21 | 5 |
| Tax % | — | 30.69% | 17.47% | 25.25% | 33.08% | 27.18% | 11.19% | 22.77% | 21.35% | 24.18% | 49.27% |
| Net Profit | 0 | 4 | 5 | 3 | 3 | 3 | 7 | 2 | 3 | 16 | 3 |
| 0.00 | 3.11 | 3.51 | 1.95 | 1.75 | 1.84 | 4.29 | 1.52 | 1.81 | 10.11 | 1.80 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 87 | 89 | 60 | 87 | 120 | 133 | 135 | 158 | 219 | 87 | 219 | |
| 76 | 84 | 64 | 82 | 110 | 114 | 111 | 138 | 184 | 91 | 184 | |
| Operating Profit | 11 | 5 | -4 | 5 | 10 | 19 | 25 | 20 | 35 | -4 | 35 |
| OPM % | 12.64% | 5.09% | -6.59% | 5.82% | 8.15% | 14.32% | 18.25% | 12.54% | 16.15% | -4.49% | 16.01% |
| 2 | 2 | 1 | 2 | 3 | 3 | -1 | 3 | 3 | 3 | 3 | |
| Interest | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 0 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 3 | 3 | 2 | 1 | 2 | 3 | 4 | 5 | 4 |
| Profit before Tax | 10 | 3 | -8 | 2 | 9 | 20 | 21 | 19 | 33 | -7 | 33 |
| Tax % | 20.84% | 6.18% | 18.90% | 53.89% | 29.76% | 29.80% | 26.54% | 21.87% | 27.96% | 47.66% | 27.94% |
| Net Profit | 8 | 3 | -7 | 1 | 7 | 14 | 15 | 15 | 24 | -4 | 24 |
| EPS | 1550.69 | 606.15 | -1371.27 | 193.29 | 1321.54 | 12.35 | 11.68 | 9.79 | 15.17 | -2.36 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 35.82% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 0%
- 5 Years:
- -6%
- 3 Years:
- -14%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 4%
- 1 Year:
- -26%
RETURN ON EQUITY
- 10 Years:
- 9%
- 5 Years:
- 14%
- 3 Years:
- 9%
- Last Year:
- -2%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 15 | 16 | 16 |
| 48 | 51 | 44 | 45 | 52 | 61 | 100 | 115 | 139 | 140 | |
| 13 | 26 | 24 | 18 | 4 | 5 | 0 | 5 | 20 | 13 | |
| Trade Payables | 7 | 6 | 3 | 18 | 24 | 15 | 11 | 9 | 30 | 10 |
| 0 | 2 | -0 | 1 | 2 | 2 | 4 | 9 | 12 | -0 | |
| Total Liabilities | 68 | 85 | 71 | 82 | 82 | 83 | 131 | 154 | 217 | 178 |
| 9 | 9 | 12 | 9 | 5 | 6 | 8 | 76 | 80 | 87 | |
| Capital Work in Progress | 0 | 2 | 0 | 0 | 0 | 7 | 36 | 0 | 0 | 1 |
| 2 | 10 | 10 | 11 | 12 | 10 | 0 | 0 | 1 | 1 | |
| 15 | 18 | 16 | 18 | 16 | 24 | 25 | 26 | 32 | 33 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 31 | 79 | 34 | |
| Cash & Bank | 6 | 8 | 7 | 9 | 10 | 4 | 20 | 1 | 6 | 5 |
| 37 | 37 | 26 | 35 | 38 | 32 | 41 | 19 | 19 | 17 | |
| Total Assets | 68 | 85 | 71 | 82 | 82 | 83 | 131 | 154 | 217 | 178 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 11 | -2 | 10 | 7 | 5 | 15 | 7 | -2 | 23 | |
| Cash from Investing | -1 | -18 | 0 | -0 | 5 | -7 | -33 | -30 | -7 | -16 |
| Cash from Financing | 0 | 10 | -4 | -8 | -14 | -3 | 35 | 4 | 15 | -8 |
| -0 | 2 | -7 | 1 | -2 | -8 | 9 | -19 | 5 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for FROG
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