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Listed Microcap- Frog Cellsat- Opportunity

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Market Cap- 440 cr
PE- 25
Newly appointed CEO- Pankaj Gandhi, he is formerly Managing Director, of the India subsidiary of ACE Technologies,

Read more at: https://www.cxotoday.com/press-release/frog-cellsat-ltd-appoints-pankaj-gandhi-as-the-new-ceo/

Frog Cellsat Pvt Ltd. design, manufacture and market cost-effective Repeater solutions for In-Building 2G, 3G, and 4G voice and data services for Mobile Operators.

Frog Cellsat Ltd manufactures telecom equipment that goes into Telecom Towers such as 2G/3G/4G Multi-Band Digital RF Repeaters, Multi-band Frequency Shift Repeater, Multi-band Optical DAS systems, relative software, and accessories. It also offers In-Building Coverage Planning and Design services along with Radio Access Network (RAN) and Backhaul Network installation services.
The company’s customer list included Bharti Airtel, Voda-Idea, Jio, Nokia, Ericson, Adani, BSNL, etc.


Recently they got order from BSNL for 4g equipment

Order book- 65 + 17 cr (recent)=82 cr

Solid R&D, Working for Defense Products

Good Expansion Plans with healthy guidance of 50% growth with 16-18% Ebidta


Working on many technology partnerships and technology transfer discussions are at a mature stage with reputed companies from UK, USA , etc- mentioned by management- Information

Anti-Thesis-

Client Concentration
Slowdown in 5g launch in India
Healthy Competition in telecom

3 posts - 2 participants

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