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Firstsource Solutions Limited FSL NIFTY_SMALLNSETECH

Technology · Information Technology Services · India
https://www.firstsource.com
Company Profile ↓
₹264.40
-26.35% 1Y
Mkt Cap₹18,428.44 Cr
P/E27.66
P/B4.41
Div. Yield1.87%
52W High₹367.77
52W Low₹204.39
Book Value₹62.91
EPS (TTM)₹9.56

Company Overview

Firstsource Solutions Limited provides technology-enabled business process services in Asia, the United Kingdom, the United States, and internationally. The company operates through four segments: Healthcare; Banking and Financial Services; Communications, Media and Technology; and Diverse Industries. It offers core banking, card and digital payments, consumer lending, mortgage, commercial lending, and fraud management; member enrollment, member engagement, digital mailroom, network operations, claims optimization, population health, and data intelligence solutions, as well as business process as a service solution; and patient access, revenue integrity, revenue recovery, and revenue command center solutions. The company also provides customer acquisition, subscriber operations, complaints and dispute management, revenue operations, and collections solutions; customer lifecycle management, community management, and billing operations; and managed engineering, customer support and success, revenue operations, and AI data solutions. In addition, it offers acquire and enroll, fund and pay, learn and engage, support and serve, collect and recover, and credential and place; customer engagement, merchant operations, fulfillment support, customer service and loyalty, and trust and safety; and customer acquisition, meter to cash, emergency services, and revenue operations and collections solutions. The company serves banking and financial services, healthcare, communications, media, technology, retail and digital marketplaces, education technology, and energy and utilities industries. The company was formerly known as ICICI OneSource Limited and changed its name to Firstsource Solutions Limited in November 2006. The company was founded in 2000 and is based in Mumbai, India. Firstsource Solutions Limited operates as a subsidiary of RPSG Ventures Limited.

Why Investors Should Care

Strong Return on Equity

Generates a return on equity of 15.4%, reflecting efficient use of shareholder capital.

Healthy Capital Returns

Return on capital employed stands at 17.7%.

Steady Revenue Expansion

Revenue has grown at a 17.1% CAGR over the past five years.

Reasonable Valuation

Trades at a P/E of 27.7, below the sector median of 28.0.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Mar 2026 Revenue of ₹9,616.12 Cr (+20.6% YoY); net profit ₹674.42 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +20.6%, earnings +13.5%.
  • 5-Year Trend Long-term compounding — revenue CAGR 17.1%, profit CAGR 9.5%.

Growth & Price Performance

Compounded Sales Growth

5 Years:17.12%
1 Year:20.62%

Compounded Profit Growth

5 Years:9.50%
1 Year:13.45%

Stock Price Performance

1 Year:-26.35%
6 Months:+20.46%
3 Months:+5.34%
1 Month:-10.05%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bearish
52-Week Range 37% of range
₹204.39 ₹367.77
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMABelow
  • RSI (14)44.13 · Neutral
Price Performance
1M-10.05%
3M+5.34%
6M+20.46%
1Y-26.35%
Valuation vs Sector

P/E of 27.66 is below the sector median of 27.95 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Compounding revenue at 17.1% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading 28.1% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
27.66
Industry PE
27.95
Forward P/E
16.74
PEG Ratio
-
Book Value
₹62.91
Price to Book
4.41
P/S
1.92
EV/EBITDA
15.63
Dividend Yield
1.87%

Growth (CAGR)

Revenue 5Y
17.12%
Profit 5Y
9.50%
Revenue (YoY)
20.62%
Earnings (YoY)
13.45%

Profitability & Returns

ROCE
17.65%
ROE
15.38%
ROA
7.24%
Profit Margin
7.01%
Op Margin
11.86%
Gross Margin
44.72%
EPS (Latest Qtr)
₹2.36
EPS (TTM)
₹9.56

Balance Sheet & Liquidity

Debt/Equity
0.67
Quick Ratio
-
Current Ratio
0.79
Debt
₹2,921.89 Cr
Total Assets
₹9,320.04 Cr
Current Assets
₹2,762.29 Cr
Working Capital
₹-716.23 Cr

Ownership

Promoter Holding
55.13%
Chg in Prom Hold
-0.02%
FII / Inst Holding
31.20%
Chg in FII Hold
0.55%

Financial Snapshot

Enterprise Value
₹18,428.44 Cr
Total Revenue (TTM)
₹9,616.12 Cr
EBITDA
₹1,495.34 Cr
Free Cash Flow
₹1,018.25 Cr
Operating Cash Flow
₹1,213.98 Cr
Shares Outstanding
₹69.70 Cr
Gross Margin
44.72%
Payout Ratio
57.53%

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 FSL Firstsource Solutions Limited NIFTY_SMALLNSETECH 264.40 27.66 ₹18,428.44 Cr 1.87% 17.65% 15.38% 17.12% 9.50%
2 TCS Tata Consultancy Services Limited NIFTY50NSEAITECH 2,304.00 16.94 ₹8.34 L Cr 2.74% 54.93% 45.89% 5.80% 5.30%
3 INFY Infosys Limited NIFTY50NSEAITECH 1,130.00 1,412.50 ₹4.58 L Cr 4.29% 41.66% 33.85% 3.44% 3.58%
4 HCLTECH HCL Technologies Limited NIFTY50NSEAITECH 1,293.40 21.08 ₹3.51 L Cr 4.49% 27.21% 22.14% 8.65% 3.87%
5 WIPRO Wipro Limited NIFTY50NSEAITECH 176.40 14.04 ₹1.85 L Cr 4.30% 17.85% 14.91% 0.78% 5.16%
6 TECHM Tech Mahindra Limited NIFTY50NSEAITECH 1,596.90 29.47 ₹1.56 L Cr 3.12% 19.82% 16.24% 2.16% -0.14%
7 LTM LTM Limited NSETECH 4,554.00 26.93 ₹1.35 L Cr 1.66% 25.39% 20.89% 8.43% 4.41%
8 LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH 1,640.70 66.08 ₹1.11 L Cr 0.00% 27.64% 21.98% 1.25% -
9 PAYTM One97 Communications Limited NIFTY_MIDNSEAITECH 1,659.50 194.09 ₹1.06 L Cr 0.00% 3.68% 3.45% 2.20% 43.71%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue 1,557.00 Cr1,529.00 Cr1,540.00 Cr1,597.00 Cr1,670.00 Cr1,791.00 Cr1,925.00 Cr2,087.85 Cr2,167.77 Cr2,220.93 Cr2,312.00 Cr2,467.45 Cr2,613.04 Cr2,751.75 Cr
Cost of Revenue -------1,307.04 Cr1,351.50 Cr1,320.70 Cr-1,431.17 Cr1,476.65 Cr1,531.57 Cr
Gross Profit -------780.81 Cr816.27 Cr900.23 Cr-1,036.27 Cr1,136.39 Cr1,220.18 Cr
Operating Expenses 1,313.00 Cr1,289.00 Cr1,311.00 Cr1,359.00 Cr1,420.00 Cr1,521.00 Cr1,638.00 Cr547.55 Cr574.05 Cr650.39 Cr1,936.00 Cr744.82 Cr822.07 Cr883.51 Cr
Operating Income 180.00 Cr179.00 Cr164.00 Cr171.00 Cr183.00 Cr197.00 Cr208.00 Cr233.26 Cr242.22 Cr249.84 Cr266.00 Cr291.45 Cr314.33 Cr336.67 Cr
EBITDA 244.00 Cr240.00 Cr229.00 Cr237.00 Cr250.00 Cr270.00 Cr287.00 Cr324.37 Cr334.94 Cr353.91 Cr376.00 Cr306.13 Cr428.71 Cr385.73 Cr
Interest Expense 21.00 Cr25.00 Cr26.00 Cr25.00 Cr27.00 Cr32.00 Cr34.00 Cr39.32 Cr42.62 Cr43.44 Cr43.00 Cr43.25 Cr52.02 Cr51.75 Cr
Pretax Income 172.00 Cr155.00 Cr154.00 Cr161.00 Cr159.00 Cr167.00 Cr171.00 Cr200.65 Cr201.71 Cr213.23 Cr224.00 Cr151.68 Cr260.60 Cr219.34 Cr
Tax Provision 30.96 Cr29.45 Cr27.72 Cr32.20 Cr25.44 Cr31.73 Cr32.49 Cr40.35 Cr41.03 Cr43.90 Cr44.80 Cr31.35 Cr55.36 Cr53.42 Cr
Net Income 141.00 Cr126.00 Cr127.00 Cr129.00 Cr134.00 Cr135.00 Cr138.00 Cr160.30 Cr160.69 Cr169.33 Cr180.00 Cr120.33 Cr205.24 Cr165.92 Cr
Diluted EPS 2.021.791.801.831.901.921.962.272.282.402.541.712.912.36

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 3,035.00 Cr3,217.00 Cr3,556.00 Cr3,535.00 Cr3,826.00 Cr4,099.00 Cr5,078.00 Cr-5,985.93 Cr6,332.53 Cr7,972.10 Cr9,616.12 Cr
Cost of Revenue --------3,741.48 Cr3,789.16 Cr4,763.76 Cr5,315.97 Cr
Gross Profit --------2,244.45 Cr2,543.36 Cr3,208.34 Cr4,300.15 Cr
Operating Expenses 2,645.00 Cr2,819.00 Cr3,109.00 Cr3,064.00 Cr3,274.00 Cr3,445.00 Cr4,239.00 Cr-1,649.83 Cr1,808.94 Cr2,319.97 Cr3,159.49 Cr
Operating Income 318.00 Cr337.00 Cr388.00 Cr405.00 Cr478.00 Cr469.00 Cr633.00 Cr-594.62 Cr734.42 Cr888.37 Cr1,140.67 Cr
EBITDA 390.00 Cr398.00 Cr447.00 Cr471.00 Cr552.00 Cr654.00 Cr839.00 Cr-957.36 Cr993.28 Cr1,243.93 Cr1,495.34 Cr
Interest Expense 80.00 Cr61.00 Cr54.00 Cr53.00 Cr46.00 Cr83.00 Cr87.00 Cr-78.97 Cr103.39 Cr147.88 Cr181.47 Cr
Pretax Income 244.00 Cr286.00 Cr337.00 Cr358.00 Cr436.00 Cr394.00 Cr432.00 Cr-615.22 Cr629.67 Cr740.65 Cr849.84 Cr
Tax Provision 9.76 Cr25.74 Cr57.29 Cr32.22 Cr56.68 Cr55.16 Cr69.12 Cr-101.50 Cr114.95 Cr146.20 Cr175.43 Cr
Net Income 234.00 Cr261.00 Cr279.00 Cr327.00 Cr378.00 Cr340.00 Cr362.00 Cr-513.72 Cr514.73 Cr594.46 Cr674.42 Cr
Diluted EPS 3.523.874.114.765.474.905.20-7.327.348.429.56

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 3,427.00 Cr2,954.00 Cr3,309.00 Cr3,371.00 Cr3,630.00 Cr4,514.00 Cr4,783.00 Cr-5,664.37 Cr6,075.60 Cr7,922.23 Cr9,320.04 Cr
Current Assets --------1,408.25 Cr1,534.73 Cr2,224.05 Cr2,762.29 Cr
Cash & Equivalents --------138.23 Cr68.94 Cr12.70 Cr34.54 Cr
Inventory ------------
Receivables --------680.05 Cr860.68 Cr1,167.71 Cr1,309.39 Cr
Total Liabilities --------2,297.17 Cr2,374.82 Cr3,824.21 Cr4,935.11 Cr
Current Liabilities --------1,559.65 Cr1,637.64 Cr2,428.68 Cr3,478.52 Cr
Long Term Debt --------139.37 Cr0341.90 Cr189.67 Cr
Total Debt 1,031.00 Cr891.00 Cr965.00 Cr667.00 Cr557.00 Cr1,356.00 Cr1,194.00 Cr-1,393.16 Cr1,525.80 Cr2,569.26 Cr2,921.89 Cr
Total Equity 2,088.00 Cr1,777.00 Cr2,028.00 Cr2,352.00 Cr2,721.00 Cr2,766.00 Cr2,799.00 Cr-3,366.84 Cr3,700.40 Cr4,097.63 Cr4,384.53 Cr
Shares Outstanding --------69.70 Cr69.70 Cr69.61 Cr69.70 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 246.00 Cr297.00 Cr200.00 Cr315.00 Cr400.00 Cr410.00 Cr976.00 Cr-795.02 Cr644.05 Cr701.10 Cr1,213.98 Cr
Investing Cash Flow -104.00 Cr-101.00 Cr-233.00 Cr96.00 Cr-203.00 Cr10.00 Cr-344.00 Cr-16.35 Cr-57.99 Cr-745.90 Cr-452.36 Cr
Financing Cash Flow -246.00 Cr-207.00 Cr4.00 Cr-327.00 Cr-273.00 Cr-277.00 Cr-689.00 Cr--743.38 Cr-563.45 Cr22.59 Cr-666.78 Cr
Capital Expenditure -45.00 Cr-85.00 Cr-77.00 Cr-57.00 Cr-108.00 Cr-113.00 Cr-170.00 Cr--53.62 Cr-85.10 Cr-241.19 Cr-195.72 Cr
Free Cash Flow 201.00 Cr212.00 Cr123.00 Cr258.00 Cr292.00 Cr297.00 Cr806.00 Cr-741.40 Cr558.95 Cr459.90 Cr1,018.25 Cr
Net Change in Cash -105.00 Cr-11.00 Cr-30.00 Cr84.00 Cr-76.00 Cr143.00 Cr-58.00 Cr-67.99 Cr22.61 Cr-22.21 Cr94.84 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --------37.5%40.2%40.2%44.7%
Operating Margin % 10.5%10.5%10.9%11.5%12.5%11.4%12.5%-9.9%11.6%11.1%11.9%
Net Margin % 7.7%8.1%7.8%9.3%9.9%8.3%7.1%-8.6%8.1%7.5%7.0%
ROE % 11.2%14.7%13.8%13.9%13.9%12.3%12.9%-15.3%13.9%14.5%15.4%
ROCE % --------14.5%16.5%16.2%19.5%

Shareholding Pattern

Insiders
55.13%
Institutions
31.20%
Public Float
69.52%

Analyst View

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Latest News

Recent headlines for FSL

Google News ue, 02 Jun 2026

Here's Why We Think Firstsource Solutions (NSE:FSL) Might Deserve Your Attention Today - simplywall.st

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Google News Wed, 02 Sep 2026

Firstsource Solutions (FSL.NS) Gains 1.65% to ₹270.4: Stock Holds Above Key Support Amid IT Services Resilience - MA Crossover - siam.in

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Google News Fri, 08 May 2026

Firstsource Solutions shares zoom 18% on heavy volumes; brokerages upbeat - Business Standard

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Google News Mon, 29 Jun 2026

Firstsource Solutions Slips Nearly 2%: Support Levels Under Scrutiny - Stock Analysis - vinanet.vn

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Google News Mon, 16 Feb 2026

There's A Lot To Like About Firstsource Solutions' (NSE:FSL) Upcoming ₹5.50 Dividend - simplywall.st

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Google News Wed, 29 Jul 2026

Firstsource Solutions Share Price Today: 11.28% Increase - Univest

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FSL — Frequently Asked Questions

What is the current share price of Firstsource Solutions Limited (FSL)?

As of 2026-09-08 04:53 IST, Firstsource Solutions Limited (FSL) trades at ₹264.40 on NSE. Its 52-week range is ₹204.39 to ₹367.77.

What is the market capitalisation of FSL?

Firstsource Solutions Limited (FSL) has a market capitalisation of ₹18,428.44 Cr on NSE.

What is the P/E ratio of FSL?

FSL trades at a trailing price-to-earnings (P/E) ratio of 27.66. The industry average P/E is 27.95. Its price-to-book (P/B) ratio is 4.41.

Does FSL pay a dividend?

Firstsource Solutions Limited (FSL) currently offers a dividend yield of 1.87%.

What is the return on equity (ROE) of FSL?

FSL has a return on equity (ROE) of 15.38%. Its return on capital employed (ROCE) is 17.65%.

Is FSL a good stock to buy?

This page provides a data-driven analysis of Firstsource Solutions Limited (FSL), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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