FROG2025-10-012026-03-31FROG2026-03-31FROG2025-03-31FROG2025-04-012026-03-31FROG2025-10-012026-03-31in-capmkt:OtherExpenses1MemberFROG2025-10-012026-03-31in-capmkt:OtherExpenses2MemberFROG2025-04-012026-03-31in-capmkt:OtherExpenses1MemberFROG2025-04-012026-03-31in-capmkt:OtherExpenses2MemberFROG2026-03-31OtherCurrentLiabilitiesDomain1FROG2026-03-31OtherCurrentLiabilitiesDomain2FROG2026-03-31OtherCurrentLiabilitiesDomain3FROG2026-03-31OtherCurrentLiabilitiesDomain4FROG2026-03-31OtherCurrentLiabilitiesDomain5FROG2026-03-31OtherCurrentLiabilitiesDomain6FROG2026-03-31OtherCurrentLiabilitiesDomain7FROG2026-03-31OtherNoncurrentAssetsDomain1FROG2026-03-31OtherNoncurrentAssetsDomain2FROG2026-03-31OtherCurrentAssetsDomain1FROG2026-03-31OtherCurrentAssetsDomain2FROG2026-03-31OtherCurrentAssetsDomain3FROG2026-03-31OtherCurrentAssetsDomain4FROG2026-03-31OtherCurrentAssetsDomain5FROG2025-10-012026-03-31AuditorDomain1iso4217:INRiso4217:INRxbrli:shares000000FROGNOTLISTEDINE385O01018FROG INNOVATIONS LIMITEDSMEEquity2025-04-012026-03-312026-05-212026-05-12INRLakhsHalf YearlyYearlySingle segmentmanufacturing and installation of in-building coverage solutions and mobile network accessories for mobile service providers and operators2026-05-2115:15:002026-05-2116:15:00trueCash Flow IndirectDeclaration of unmodified opinion2025-10-012026-03-31AuditedConsolidated51136500060470005174120002307120000195340001075790003300027962000174814000560634000-43222000568000-42654000-4906000-475600004207000-46310000-42103000-5457000000-545700000-545700015554300010-0.35-0.351 The consolidated audited financial results for the year ended on March 31, 2026, have been reviewed and recommended by the Audit Committee. These results were subsequently approved by the Board of Directors of the Holding Company during their respective meetings held on May 21, 2026. <BR> 2 The Statutory Auditors of the Group have carried out audit of these results and the audited consolidated financial Results have been prepared in accordance with the recognition and measurement principles laid down in the Relevant Accounting Standard prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules thereunder and the terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time from time. <BR> 3 The statement of audited consolidated financial results includes the results of Frog Innovations Limited ('the Holding Company' or 'the Parent') and the following subsidiaries (Parent and Subsidiaries collectively referred to as 'the Group' hereunder): <BR> Subsidiaries "% of ownership as at <BR> 31st March 2026" "% of ownership as at <BR> 31st March 2025" <BR> i Frog Services Private Limited 100 100 <BR> ii Frog Tele Private Limited 100 100 <BR> iii GORF UK Limited 100 100 <BR> *The financial statements of GORF UK Limited are unaudited and considered for consolidation as certified by the management. <BR> 4 The Board of Directors of the Holding Company approved the Employee Stock Purchase Scheme 2023 (ESPS) during the Board Meeting held on May 28th, 2023, and the same scheme was subsequently approved by members during the Annual General Meeting held on August 8th, 2023. During the year ended March 31, 2026, the holding company issued 25,400 shares of the holding company to the employees of the holding company and its subsidiaries. The total ESPS compensation expenses in the half year period ended March 31st, 2026, amounted to Rs. 58.11 Lakhs. <BR> 5 The Holding Company has changed its name from “Frog Cellsat Limited” to “Frog Innovations Limited.” The change was approved by the Registrar of Companies and became effective on 27th October 2025. <BR> 6 "The R&D Expenditure of Rs. 278.61 Lakhs has been capitalised by the holding company during the year ended March 31, 2026 as mentioned below: <BR> (I) Intangible Assets: 243.43 Lakhs <BR> (II) Intangible Assets under Development: 35.18 Lakhs" <BR> 7 In view of improved sales trends for repeaters, longer procurement lead times, and stringent customer delivery timelines, maintaining adequate inventory levels is essential. With enhanced inventory controls and reduced obsolescence risk, management has reduced provision as a fair reflection of the realizable value of inventory. Accordingly, there is a reversal of provision against inventories amounting to Rs.161.99 Lakhs during the current year. <BR> 8 "During the year, the Holding Company is entitled to an interest subsidy amounting to Rs.37 Lakhs (Net of administrative cost) under the interest subsidy from UP Electronics Corporation Limited (Nodal Agency from state Government ) pertaining to previous year. The requisite application / claim in respect of this amount had been duly submitted by the Holding Company to the concerned authorities in an earlier period. <BR> The formal Subsidy Agreement in respect of the aforesaid amount was executed and entered on 19th May, 2026. Accordingly, the said amount has been recognised in the books of accounts for the year ended 31 March 2026." <BR> 9 "In addition to the above, based on the terms of the above agreement and the Holding Company's eligibility, the management has accrued an interest subsidy of Rs.55.09 Lakhs pertaining to the current financial year in the books of accounts. The aforesaid accrual has been made on a reasonable and prudent basis, in accordance with the applicable terms of the agreement and the matching principle under Generally Accepted Accounting Principles. <BR> Consequently, the Finance Costs as disclosed in the Statement of Financial results for the current year are presented net of interest subsidy receivable." <BR> 10 On November 21, 2025, the Government of India notified provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020, ('Labour Codes') which consolidate twenty-nine existing labour laws into a unified framework governing employee benefits during employment and post-employment. The Labour Codes, amongst other things, introduced changes including a uniform definition of wages and enhanced benefits relating to leave. The company had assessed the financial implications of these changes which had resulted in increase in gratuity liability arising out of past service cost and increase in leave liability by Rs. 49.06 Lakhs. Considering the impact arising out of an enactment of the new legislation is an event of non-recurring nature, the company has presented this incremental amount as "Impact of Labour Codes" under "Exceptional Item" in the standalone Statement of Profit and Loss for the year ended March 31, 2026. The Company continues to monitor the developments pertaining to Labour Codes and will evaluate impact if any on the measurement of liability pertaining to employee benefits. <BR> 11 As per the PLI approval letter dated October 31, 2022, the Holding Company is required to achieve eligible incremental sales of Rs.48 crores for FY 2025–26 to qualify for the PLI incentive. As the sales target has not been achieved as of March 31, 2026, no PLI income has been recognized. <BR> 12 Previous Year / Period figures have been recasted/regrouped/reclassified wherever considered necessary to make it comparable with the current period. <BR> 13 No Investor's complaints were recorded or received during the half-year ended on 31 March, 2026. <BR> 14 The results of the company are available at the Company's website and the website of the stock exchange where the Equity shares of the Company are listed (www.nseindia.com). <BR> 2025-04-012026-03-31AuditedConsolidated10607060003418400010948900005596790000-274580002094080005439000520300003348400001133938000-39048000544000-38504000-4906000-434100007026000-34777000-27751000-15659000000-1565900000-15659000155543000101434123000-1.01-1.01Installation Cost88641000Other Expenditure86173000Installation Cost169811000Other Expenditure16502900015554300014341230000158966600004640800000287430007515100082161000201280001002020001203300004789800061520002565410001921358000857356000642850006773000280360009564500005130006381800037489000905300010673230000333339000390185000385190002765300030201000341380008540350001921358000Advance from customers6585000Statutory dues payable7923000Security deposit received300000Corporation tax payable86000Income tax Payable389000Expenses payable5587000Employee benefit expenses payable27028000Security Deposit9043000Fixed Deposits kept as a security/margin money with remaining maturity for more than 12 months from the balance sheet date10000Security Deposit2000Interest accrued on fixed deposits619000Balance with Statutory Authorities29000Unbilled revenue24279000Other receivables920900005203000000000-4906000-160000046964000133800039790500057782000-182141000-3250000-13203000258431000305395000266891000-2000-4265000-2021000427140000226419000002264190000000000000000000200020210000-1553210000-15329800000-1532980002540000046297000119879000042670000-412000-7800700000-78007000-48860000-48860007105800066172000AuditedtrueSinghi Chugh & Kumartrue2027-08-31