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Frog Cellsat share price & results

Frog Cellsat· Telecommunication

Results to
Mar 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Noida-based design house and manufacturer of Active DAS systems, RF repeaters, antennas and in-building wireless coverage equipment for telecom operators, airports and venues, now expanding into EMS, AI video surveillance and 5G site-implem

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue51.0 ₹ crore−63.6% YoYQuarterly, as filedQuarter to Mar 2026Revenue from operations as filed.
Operating margin-4.2 %−25.2 pts YoYOperating profit / revenueQuarter to Mar 2026For the quarter; a change is in percentage points.
Net profit-1.0 ₹ crore−105.6% YoYQuarterly, as filedQuarter to Mar 2026Profit after tax as filed.
Return on equityUnavailable−17.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM · period unavailableNot in the analysed materials. No older figure is substituted.
Free cash flow margin7.05 %+13.0 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)Unavailable−90.2 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM · period unavailableNot in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Mar 2026

Guidance

What management said, and what became of it

1 of 5 judged targets kept · 10 open · verdicts reflect calls analysed to Q1 FY27.

Frog Cellsat management guidance track record on Inve: 15 targets tracked across analysed earnings calls (1 achieved, 4 missed, 10 open).

TargetOriginal wordingSaidLatest callVerdict
SMT Line OperationalizationFunctional and operational within next month
Call transcript, Q4 FY25 · 21 May 2025		Q4 FY25Q1 FY27:Remains achieved. Management confirmed the SMT line is 'fully operational, with increasing occupancy and a growing customer base.'
Call transcript, Q1 FY27 · 10 Jul 2026		Achieved
Overall Revenue Growth30% projection for FY26
Call transcript, Q4 FY25 · 21 May 2025		Q4 FY25Q1 FY27:The FY26 target remains definitively missed. No new information provided.
Call transcript, Q1 FY27 · 10 Jul 2026		Missed
Total RevenueINR 500 crores by FY28
Call transcript, Q4 FY25 · 21 May 2025		Q4 FY25Q1 FY27:Management massively revised down the FY27 target from INR 500 crores to a range of INR 200-250 crores, citing a goal to 'revamp our revenues to 25 level'.
Call transcript, Q1 FY27 · 10 Jul 2026		Revised Down

Source: Inve Guidance Tracker for Frog Cellsat · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

4 of Frog Cellsat's 15 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 12 more targets are in the full ledger.

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Price

₹232.2 −1.19% · −₹2.8

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance +7.0% 1Y

₹150₹200₹250₹300Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Aug 26Oct 26Q2 FY26 — 12 Dec 2025Q4 FY26 — 22 May 2026Q1 FY27 — 10 Jul 2026

1Y: ₹217.1 on 24 Oct 2025 → ₹232.2. High ₹299.4 (17 Sept 2026), low ₹125.7 (23 Mar 2026).

Previous close
₹235
Market cap
₹368 Cr
52-week range
₹125.7 – ₹299.4
One year
+6.93%
Return on equity (FY ending Mar 2026)
-1.25%

Overview

Symbol
NSE:FROG
Exchange
NSE
Currency
INR

What Frog Cellsat does

Based on the company's own presentations, annual report and earnings calls.

Frog Innovations (formerly Frog Cellsat) designs, manufactures and installs wireless coverage-enhancement equipment for telecom operators, airports, metro stations, stadiums and commercial buildings, including Active DAS systems, digital RF repeaters, IBS accessories, network accessories and antennas. It runs a 1.6 lakh sq. ft. manufacturing and R&D facility in Noida under India's Design-led Manufacturing PLI scheme, and describes itself as the only Indian company with proprietary technology to manufacture and deploy Active DAS systems. Revenue comes from product sales plus installation & commissioning (I&C) services to telecom operators, in-building infra providers, system integrators, project developers and government/defence customers. The company has recently diversified into Electronics Manufacturing Services (EMS), AI-based video surveillance (AI EYE) and CCTV, a TRAI-appointed Digital Connectivity Rating Agency (DCRA) service, and 5G site-implementation services.

Segments

  • Active DAS Systems
  • Repeaters
  • IBS Accessories
  • Network Accessories
  • Antennas
  • Electronics Manufacturing Services (EMS)
  • CCTV / AI Surveillance (AI EYE, FROG EYES brand)
  • Digital Connectivity Rating Agency (DCRA)
  • 5G Site Implementation
  • Get Five Bars
Manufacturing & R&D facility
1.6 lakh sq. ft. (Noida, UP)
Product portfolio
27+ products across RF repeaters, Active DAS, IBS/network accessories & antennas
International presence
Active in 10+ countries incl. Ghana, Kenya, Malta, Sri Lanka; International Sales & Support Centre in London
Client segments served
6 distinct client segments
Major DAS airport deployments
5 (Navi Mumbai, Chhatrapati Shivaji Maharaj Mumbai, Noida, Guwahati, Lucknow airports)
New manufacturing line
SMT (Surface Mount Technology) line added at Noida facility for EMS/electronics production
Founded 2004Headquarters Noida, Uttar Pradesh, IndiaEmployees 500 (FY26) Company website

How the price took the results

close before → close after

Q1 FY27
+2.3%
10 Jul
Q4 FY26
−5.0%
22 May
Q2 FY26
−0.1%
12 Dec

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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