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Frog Innovations Earnings Call: Key Takeaways

Frog Innovations FY26 earnings transcript highlights a transformative yet challenging year due to telecom capex slowdown and DAS delays. Management maintains a vision of ₹500cr revenue with ₹75cr EBITDA.

Highlights
Revenue growthFY26 hit by DAS business slowdown; FY27 expected to beat FY25.
MarginsEBITDA was negative in FY26 due to lower business volume.
Order bookCurrent order book approx. ₹36-38 crores; executable within the current year.
Demand visibilityGradual revival in DAS pipeline; surveillance and 5G services showing traction.
Management confidenceConfident in achieving ₹500cr target despite current moderate performance.

Growth

FY26 saw revenue hit from DAS stalemate and reduced telecom capex; EMS and AI analytics are emerging growth engines.

Outlook

Targets ₹500cr revenue by FY28. FY27 expected to beat FY25. Near-term focus on North India surveillance market.

Risks

Industry headwinds, delays in airport/metro projects, geopolitical impacts on international inquiries, and highly regulated telecom markets.

Source

Earnings Call filed with NSE, NSE: FROG. Summary written with AI assistance from the document.

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Frog Innovations Ltd: key numbers

Share price
₹269.65
Market cap
₹419.4 Cr
Revenue (annual)
₹106.1 Cr
Net profit (annual)
₹-1.57 Cr
P/E (TTM)
-267.9×Sector 68.0×
Promoter holding
72.54%
FII holding
0.20%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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