Fidel Softech Ltd.

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fidelsoftech.comBSE: -NSE: FIDEL

Market Cap₹ 212 Cr.

Current Price

High / Low₹ 200 / 108

Stock P/E27.4

Book Value₹ 39

Price to Book3.32

Dividend Yield1.46 %

ROCE23.4 %

ROE19.2 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Information Technology

Buy

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.

Confidence

68%

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PROS

Company has delivered good profit growth of 21.9% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 25.6%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.93x)
Company has been maintaining a healthy dividend payout of 33.3%
Company comfortably covers its interest (28.3x coverage)
Company generates healthy free cash flow

CONS

Recent results are weak - TTM profit is down 39.0% versus prior year
A large part of profit comes from other income (35.8% of PBT)
Operating margins have contracted to 18.5% from 22.6%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TCS	2202.00	16.00	796702.87	5.00	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1038.20	13.91	421325.69	4.62	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1207.00	18.80	327539.38	4.47	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	167.50	12.55	165902.38	6.57	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1539.50	29.38	150891.59	3.31	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4301.15	24.39	127581.28	1.74	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	11760.00	30.01	102409.76	3.40	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5537.45	45.42	87353.27	0.72	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1847.40	46.58	81835.77	0.86	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2294.10	22.92	43790.98	2.70	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3334.95	26.80	35379.24	1.74	357.10	12.97	2940.10	11.47	27.70	18.65
12.	FIDEL	154.00	15.97	211.76	1.46	3.18	-12.49	37.93	127.96	26.83	11.67

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	9	10	10	11	12	14	14	14	15	12	13	9	11
	7	8	8	9	10	11	12	11	10	10	10	7	9
Operating Profit	2	2	2	2	3	3	2	4	4	2	3	2	2
OPM %	21.91%	18.95%	16.17%	16.28%	21.09%	21.49%	15.48%	26.44%	29.47%	14.17%	23.71%	22.39%	15.07%
	0	0	0	0	0	0	0	0	0	1	1	0	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	2	2	2	2	3	3	2	4	4	2	4	2	2
Tax %	26.76%	24.42%	24.58%	22.28%	24.64%	25.71%	24.79%	26.24%	26.12%	25.89%	25.54%	28.05%	25.69%
Net Profit	2	2	1	1	2	2	2	3	3	2	3	2	2
	1.14	1.20	0.98	1.09	1.53	1.73	1.30	2.17	2.41	1.20	1.99	1.16	1.27

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	22	26	26	33	40	55	49	45
	18	21	20	27	33	43	40	37
Operating Profit	5	4	6	7	7	12	9	8
OPM %	21.49%	16.96%	23.39%	20.00%	18.42%	21.16%	18.50%	18.82%
	0	0	1	1	1	1	4	2
Interest	0	0	0	0	0	0	0	0
Depreciation	1	0	0	0	0	0	0	0
Profit before Tax	4	5	6	7	8	12	13	10
Tax %	26.89%	24.84%	27.43%	24.65%	24.46%	25.39%	26.21%	26.18%
Net Profit	3	3	5	5	6	9	9	8
EPS	3.12	3.42	4.52	4.13	4.41	6.74	6.77	—
Dividend Payout %	0.00%	0.00%	0.00%	17.87%	24.96%	29.69%	33.25%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 14%
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 22%
3 Years:: 20%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 14%
1 Year:: -30%

RETURN ON EQUITY

10 Years:: —
5 Years:: 24%
3 Years:: 20%
Last Year:: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0	0	10	14	14	14	14
	7	10	5	19	24	31	38
	0	1	2	0	0	0	11
Trade Payables	1	1	1	1	2	2	1
	2	4	2	3	4	5	9
Total Liabilities	10	17	20	37	43	52	73
	1	0	0	0	0	0	2
	1	4	2	14	16	22	28
	0	0	0	0	12	16	12
Cash & Bank	3	2	3	4	4	8	8
	5	10	15	19	12	6	23
Total Assets	10	17	20	37	43	52	73

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7	6	-1	3	3	9	11
Cash from Investing	-4	-4	2	-12	-0	-4	-23
Cash from Financing	-1	1	1	10	-1	-2	12
	1	-1	0	1	2	4	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.78	72.78	72.78	72.97	72.97	72.98	73.05	73.06	73.06
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.22	27.22	27.22	27.03	27.03	27.02	26.95	26.93	26.93

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

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