1. Opening Hook
Fidel Softech just reminded the market that even SMEs can dream big—sometimes a little too big.
While most IT companies are busy blaming macros, Fidel quietly clocked ₹23 crore in quarterly revenue.
Yes, profits dipped, but management had a ready-made excuse buffet: M&A costs, salary hikes, loans, geopolitics, and probably Mercury in retrograde.
Sunil Kulkarni sounded part-CEO, part-motivational speaker, and part-philosopher, dropping growth numbers with humility seasoning.
From ₹25 crore annual revenue at IPO to almost that much per quarter now—cue dramatic pause.
But before you clap too hard, margins slipped, costs ballooned, and analysts smelled something fishy.
Still, management swears this is just a “transition phase.”
Read on—because the real masala lies in margins, AI hype, and a ₹100 crore dream fueled by Japan, the US, and optimism.
2. At a Glance
- Revenue up 39% QoQ – Growth sprinting, breathlessness ignored.
- YoY revenue up 67% – Last year called, wants its scale back.
- PAT down 23% QoQ – Profits took a tea break this quarter.
- H1 PAT up 43% YoY – Zoom out, and it suddenly looks heroic.
- EBITDA margin ~19% – Management says “temporary dip,” analysts say “hmm.”
- ₹16 crore debt raised – Growth funded, interest invited to the party.
3. Management’s Key Commentary
“This is our 14th consecutive quarter of delivering results.”
(Consistency flex—SME edition 😏)
“PAT declined due to deferred projects, M&A expenses, interest cost, and salary hikes.”
(Everything happened at once, unfortunately 📉)
“The US acquisition shortens our growth journey by 1.5–2 years.”
(Why wait when you can buy speed? 🚀)
“Margins in US and Japan are structurally lower than India.”
(Global dreams, local margin nightmares 🌍)
“AI revenues were ₹1.2 crore this quarter.”
(Not hype-zero, but not
