Firstsource Solutions Ltd.

NSE: FSL · Services

₹293.65+1.56%06 Nov 2026

Ask the data

Instant answers about Firstsource Solutions Ltd. — computed from its filings, no language model

Market cap₹20,467 cr

Current price₹293.65

High / Low₹367 / ₹204

P/E28.3

P/B4.20

Book value₹70.0

ROE14.8%

ROCE16.6%

Debt / equity0.40

Dividend yield1.86%

EPS (TTM)₹10.39

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 9 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	3,432	3,826	4,099	5,078	5,921	6,022	6,336	7,980	9,556
EBITDA	355	535	629	804	960	826	956	1,208	1,556
Operating margin	10.3%	14.0%	15.3%	15.8%	16.2%	13.7%	15.1%	15.1%	16.3%
Interest	40	29	58	52	64	79	103	148	181
Depreciation	66	74	185	206	249	263	260	327	434
Profit before tax	358	436	394	432	647	615	630	741	850
Tax	31	58	55	70	111	102	115	146	175
Net profit	0	378	340	362	537	514	515	594	674
EPS ₹	4.78	5.48	4.90	5.31	7.90	7.55	7.52	8.63	9.77
Operating cash flow	—	—	—	—	704	795	645	701	1,214
Capex	—	—	—	—	85	54	85	241	196
Dividend paid	—	—	—	—	238	238	241	276	380
Total assets	3,398	3,676	2,366	4,830	5,709	5,664	6,083	7,922	9,320
Equity	2,352	2,721	2,065	2,799	3,033	3,367	3,700	4,098	4,385

Quarterly performance

last 33 quarters · ₹ crore

showing latest 8 of 33 periods

	MAR '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	871	955	985	967	980	985	1,053	1,080	1,062	1,188	1,365	1,463	1,485	1,429	1,464	1,544	1,488	1,505	1,557	1,529	1,540	1,597	1,670	1,791	1,925	2,102	2,161	2,218	2,312	2,443	2,583	2,725	2,826
Operating profit	107	133	136	138	166	132	167	164	167	188	210	234	238	239	238	245	192	210	244	240	229	237	250	270	287	318	333	347	376	403	430	451	471
Operating margin	12.2%	13.9%	13.8%	14.3%	16.9%	13.4%	15.8%	15.2%	15.7%	15.8%	15.4%	16.0%	16.1%	16.7%	16.3%	15.9%	12.9%	13.9%	15.7%	15.7%	14.9%	14.9%	15.0%	15.1%	14.9%	15.1%	15.4%	15.7%	16.3%	16.5%	16.7%	16.6%	16.7%
Other income	23	1	1	1	-1	8	1	1	-0	2	1	-2	-0	1	0	-0	49	62	13	2	17	15	3	2	-3	-2	2	7	-1	4	-2	6	-2
Interest	9	6	7	9	13	15	16	14	13	12	13	14	15	16	15	19	20	20	21	25	26	25	27	32	34	39	43	43	43	43	52	52	51
Depreciation	17	18	19	19	44	45	48	47	50	52	51	53	58	60	62	70	66	69	64	61	65	66	67	73	79	84	91	97	110	111	116	115	118
Profit before tax	104	108	111	111	107	81	104	103	103	125	148	55	165	164	161	156	155	184	172	155	154	161	159	167	171	201	202	213	224	152	261	219	299
Tax	11	16	13	13	16	13	14	12	15	20	27	9	32	29	26	24	26	26	31	29	28	32	26	32	33	40	41	44	45	31	55	53	67
Net profit	0	93	98	98	91	67	90	92	89	105	121	47	135	135	135	132	129	158	141	126	127	129	134	135	138	160	161	169	180	120	205	166	233
EPS ₹	1.36	1.35	1.42	1.42	1.32	0.97	1.29	1.32	1.29	1.55	1.78	0.69	1.98	2.03	1.99	1.95	1.90	2.32	2.07	1.85	1.85	1.88	1.94	1.97	2.01	2.33	2.33	2.45	2.60	1.74	2.97	2.40	3.37
Revenue YoY	—	—	—	11.0%	—	3.2%	6.9%	11.7%	8.4%	20.6%	29.6%	35.4%	39.8%	20.3%	7.2%	5.5%	4.2%	2.8%	0.8%	—	3.5%	6.1%	7.3%	17.1%	25.0%	31.7%	29.4%	23.8%	20.1%	16.2%	19.5%	22.9%	22.2%
Profit YoY	—	—	—	—	—	-27.4%	-8.8%	-6.8%	-2.8%	56.2%	35.2%	-49.0%	51.7%	28.2%	11.9%	183.6%	-4.2%	16.6%	6.7%	—	-2.2%	-18.5%	-5.5%	7.3%	9.3%	24.5%	20.4%	25.2%	29.9%	-24.9%	27.7%	-2.0%	29.7%

Earlier results (standalone, Sep '07 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Firstsource Solutions Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 9 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	550	662	703	754	848	917	914	875	940
Operating profit	112	119	97	65	123	190	210	198	233
Operating margin	20.3%	18.0%	13.8%	8.6%	14.6%	20.7%	22.9%	22.6%	24.8%
Other income	49	23	17	42	90	15	20	26	15
Interest	18	27	12	44	53	18	20	16	10
Depreciation	52	52	57	60	57	53	46	33	19
Profit before tax	13	62	70	42	104	134	165	174	219
Tax	-2	-5	3	-4	-5	0	-2	24	30
Net profit	15	67	66	45	108	134	167	150	188

Quarters

showing latest 8 of 42 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	120	127	133	132	138	135	145	157	163	166	176	165	175	180	183	183	194	188	189	196	210	223	220	225	238	236	219	221	239	234	221	211	227	228	209	222	231	247	240	244	212	211
Operating profit	24	26	34	34	46	10	22	28	29	26	35	20	31	21	26	16	22	15	12	18	33	35	37	39	54	48	48	48	60	56	45	46	57	59	35	50	52	62	68	61	54	65
Operating margin	19.8%	20.0%	25.6%	25.7%	33.1%	7.3%	15.4%	18.0%	18.1%	15.7%	20.2%	12.3%	17.5%	11.5%	14.1%	8.5%	11.3%	8.2%	6.5%	9.3%	15.8%	15.6%	17.0%	17.3%	22.9%	20.6%	21.9%	21.9%	25.1%	24.0%	20.5%	21.8%	25.2%	25.9%	17.0%	22.7%	22.7%	25.3%	28.1%	25.1%	25.4%	30.7%
Other income	5	1	3	6	4	2	37	19	2	2	-1	3	3	8	2	2	7	5	28	26	28	23	12	-1	5	5	6	7	10	7	-4	9	7	4	6	5	0	7	3	5	5	2
Interest	2	1	17	6	9	3	1	9	4	6	8	5	2	3	3	4	6	19	16	16	16	17	4	3	5	4	5	5	5	6	4	5	5	4	3	5	0	4	2	2	2	1
Depreciation	14	14	13	12	12	15	14	13	14	13	13	13	13	15	16	14	15	15	15	14	14	14	14	13	15	13	12	12	12	12	11	10	10	7	5	5	5	5	4	5	5	6
Profit before tax	12	11	7	-58	30	-3	44	25	14	9	15	15	22	17	15	7	8	17	9	14	31	26	33	22	39	36	37	38	53	45	29	39	49	52	33	46	48	60	65	59	51	61
Tax	-3	-4	-1	1	3	-2	-3	-0	-1	-1	-2	2	1	0	0	-0	0	-2	-2	0	0	-5	0	0	0	0	0	0	-1	-1	0	7	2	9	6	7	6	7	10	8	7	10
Net profit	15	15	8	-58	27	-1	47	25	15	10	17	13	21	17	15	7	8	19	11	14	31	31	33	22	39	36	37	38	54	46	29	32	47	43	28	39	42	53	55	51	44	51
EPS ₹	0.36	0.35	0.20	-1.36	0.63	-0.02	1.10	0.59	0.35	0.24	0.39	0.31	0.49	0.40	0.34	0.17	0.19	0.45	0.25	0.33	0.72	0.61	0.50	0.33	0.60	0.55	0.57	0.58	0.81	0.69	0.43	0.48	0.70	0.65	0.41	0.57	0.63	0.78	0.80	0.74	0.64	0.75
Revenue YoY	—	—	—	—	14.9%	6.3%	8.7%	19.2%	17.8%	22.9%	21.1%	4.8%	7.6%	8.3%	4.3%	11.1%	10.6%	4.6%	3.3%	6.9%	8.5%	18.2%	16.2%	15.0%	13.0%	5.9%	-0.4%	-1.6%	0.3%	-0.9%	0.8%	-4.6%	-4.9%	-2.4%	-5.3%	5.1%	2.0%	8.2%	14.9%	9.8%	-8.2%	-14.5%
Profit YoY	—	—	—	—	74.5%	-106.3%	467.8%	—	-43.9%	—	-64.6%	-47.1%	40.0%	68.0%	-12.7%	-46.3%	-61.6%	13.3%	-26.9%	96.9%	281.6%	57.5%	204.9%	53.5%	26.2%	18.8%	14.6%	76.9%	37.2%	26.5%	-23.6%	-16.2%	-13.3%	-5.6%	-2.9%	20.6%	-8.9%	21.5%	97.4%	30.6%	3.3%	-2.9%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 26 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	14.0%	13.0%	12.7%	16.4%	16.3%	18.2%	19.7%	12.9%	14.6%	15.6%	16.1%	17.7%	16.5%	15.0%	14.2%	13.9%	14.2%	13.7%	14.6%	14.5%	15.3%	15.3%	14.4%	15.4%	15.3%	14.8%
ROCE	17.4%	16.6%	16.7%	21.9%	21.7%	23.8%	25.7%	16.8%	19.0%	20.4%	21.0%	21.5%	17.9%	16.6%	16.3%	16.2%	16.6%	14.6%	15.6%	15.8%	16.8%	17.6%	16.8%	16.3%	16.5%	16.6%
Net margin	9.8%	9.1%	8.7%	8.3%	8.1%	8.6%	8.7%	7.1%	7.4%	7.6%	7.7%	9.1%	9.1%	9.0%	8.4%	8.1%	7.9%	7.7%	7.6%	7.4%	7.5%	7.6%	6.9%	7.1%	6.7%	6.8%
EBITDA margin	14.7%	14.6%	15.1%	15.3%	15.1%	15.6%	15.5%	15.7%	15.8%	16.1%	16.3%	16.2%	14.6%	15.1%	15.3%	15.1%	14.9%	15.0%	15.0%	15.1%	15.3%	15.6%	16.0%	16.3%	16.5%	16.6%
Debt / equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.03	0.03	0.03	0.03	0.09	0.25	0.24	0.24	0.22	0.22	0.37	0.37	0.37	0.37	0.32	0.32	0.44	0.44	0.40
Interest coverage	13.09	10.21	8.55	7.76	7.71	8.79	10.09	9.27	10.24	10.43	10.28	11.12	8.77	8.24	7.59	7.09	6.85	6.59	6.30	6.01	5.93	6.00	5.60	5.68	5.51	5.70
Asset turnover	1.06	1.07	1.08	1.73	1.77	1.85	1.98	1.05	1.14	1.19	1.21	1.04	1.07	1.02	1.04	1.04	1.08	0.94	1.01	1.01	1.06	1.06	1.10	1.03	1.08	1.08

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 18 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	660	666	673	681	687	691	694	696	697	697	697	697	697	697	697	697	697	697
Other equity / reserves	1,432	1,422	1,104	1,347	1,665	2,030	1,371	2,103	2,336	2,591	2,670	2,973	3,003	3,202	3,401	3,669	3,688	4,181
Total equity	2,091	2,089	1,777	2,028	2,352	2,721	2,065	2,799	3,033	3,288	3,367	3,670	3,700	3,899	4,098	4,366	4,385	4,878
Borrowings	910	730	410	358	14	7	3	85	273	853	827	882	812	1,431	1,533	1,377	1,937	1,941
Current liabilities	857	870	739	816	983	895	120	1,402	1,535	1,461	1,560	1,617	1,641	2,179	2,429	2,502	3,479	3,659
Non-current liabilities	740	467	659	674	62	60	180	628	1,140	938	738	715	741	1,321	1,396	1,453	1,457	1,212
Total assets	3,689	3,427	3,176	3,519	3,398	3,676	2,366	4,830	5,709	5,687	5,664	6,002	6,083	7,399	7,922	8,321	9,320	9,749
Property, plant & equipment	86	77	78	88	88	114	53	235	228	196	174	156	164	223	276	311	310	347
Capital work-in-progress	0	8	2	4	0	2	—	—	—	8	3	7	17	74	49	9	30	6
Investments	5	73	85	163	34	134	1,199	94	130	115	71	139	42	35	73	103	116	126
Inventories	—	—	—	—	—	—	—	—	—	0	0	0	0	0	0	0	0	0
Receivables	302	289	304	304	378	387	374	577	645	893	1,038	1,147	1,161	1,470	1,686	1,774	2,079	2,347
Cash & equivalents	186	80	69	39	123	47	46	132	83	141	152	90	175	202	154	225	259	352

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 13 periods

	FY14‡	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	396	246	297	198	315	400	410	976	704	795	645	701	1,214
Cash from investing	-13	-104	-101	-231	92	-204	14	-348	-595	16	-58	-746	-452
Cash from financing	-286	-246	-207	4	-327	-273	-277	-689	-158	-743	-564	23	-667
Capex	36	46	86	85	62	109	95	173	85	54	85	241	196
Free cash flow	360	200	211	113	253	291	316	802	619	741	560	460	1,018
Dividends paid	—	—	—	—	—	125	376	204	238	238	241	276	380

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹347 cr4%

CWIP

₹6 cr0%

Investments

₹126 cr1%

Receivables

₹2,347 cr24%

Cash & equivalents

₹352 cr4%

Other assets

₹6,570 cr67%

Peer comparison

largest in Services · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Adani Ports and Special Economic Zone Ltd.	4,46,183	1,936.60	38.7	4.36	11.3%
InterGlobe Aviation Ltd.	2,11,757	5,476.00	—	42.39	-82.1%
GMR Airports Ltd.	1,05,277	98.75	210.4	—	—
JSW Infrastructure Ltd.	78,694	338.30	54.6	4.37	8.0%
Container Corporation of India Ltd.	33,496	439.80	27.5	2.51	9.1%
Delhivery Ltd.	32,070	428.00	171.2	3.27	1.9%
Redington Ltd.	25,602	327.50	13.8	2.38	17.2%
Firstsource Solutions Ltd.	20,467	293.65	28.3	4.20	14.8%
Great Eastern Shipping Co. Ltd.	20,398	1,428.70	5.4	1.20	22.1%
International Gemological Institute Ltd.	17,606	407.40	34.1	10.05	29.5%

StoxGud checklist: Bullish setup · 7/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+13.3%

6 months+24.9%

1 year-15.8%

3Y CAGR+22.5%

5Y CAGR+7.8%

10Y CAGR+22.8%

50-day avg₹273.69

200-day avg₹259.28

RSI (14)59

Compare Firstsource Solutions Ltd. with

Container Corporation of India vs Firstsource Solutions Delhivery vs Firstsource Solutions Redington vs Firstsource Solutions Firstsource Solutions vs Great Eastern Shipping Co.Firstsource Solutions vs International Gemological Institute Firstsource Solutions vs eClerx Services

FAQs

What is the share price of Firstsource Solutions Ltd.?

Firstsource Solutions Ltd. (FSL) closed at ₹293.65 on NSE on 06 Nov 2026.

What is the market cap of Firstsource Solutions Ltd.?

₹20,467 crore at the latest close.

What is the P/E ratio of Firstsource Solutions Ltd.?

28.3, on trailing-twelve-month earnings from its filings.

How fast is Firstsource Solutions Ltd. growing?

Firstsource Solutions Ltd.: revenue has compounded at 16.6% a year over three years; net profit at 9.5% a year. Latest-quarter revenue is up 22.2% year on year, profit up 29.7%.

How profitable is Firstsource Solutions Ltd.?

On a trailing-twelve-month basis return on equity is 14.8%, return on capital employed 16.6%, operating margin 16.6%, net margin 6.8%.

How much debt does Firstsource Solutions Ltd. have?

Firstsource Solutions Ltd. is lightly geared: debt to equity is 0.40 with borrowings of ₹1,941 cr against cash of ₹352 cr (balance sheet of 2026-09-30). Operating profit covers interest 5.7 times.

Financials parsed from Firstsource Solutions Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.