Firstsource Solutions Ltd.

BSE: FSL532809ISIN INE684F01012

Services
Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO)
BSE 500

Share price

₹290.15+1.20 (+0.42%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹371.80
52W low: ₹200.60
Off 52W high: -21.96%
1M return: +12.79%
3M return: -14.50%
6M return: +19.23%
1Y return: -17.71%
20D avg volume: 2,27,743
50 DMA: ₹273.03
200 DMA: ₹259.55

Key ratios Consolidated

Market cap: ₹20,223 Cr
Current price: ₹290.15
52W high / low: ₹371.80 / ₹200.60
Face value: ₹10.00
P/E: 27.94
P/B: 4.15
EPS (TTM): ₹10.39
Book value / share: ₹69.98
ROE: —
ROCE: 17.70%
Operating margin: —
Net margin: —
Debt / equity: 0.44
Net debt: ₹1,679 Cr
Interest cover: 5.68
Dividend yield: 1.90%
Dividend / share (TTM): ₹5.50
Payout: 52.94%
Cash conversion cycle: 58.1 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	2,826	2,725	2,583	2,443	2,312	2,218	2,161	2,102	1,925	1,791	1,670	1,597
	-1.79	6.11	-1.71	3.62	-1.29	6.83	2.12	2.10	2.73	1.84	2.81	15.36
	2,824	2,731	2,582	2,447	2,311	2,224	2,164	2,100	1,923	1,793	1,673	1,612
	2,524	2,440	2,321	2,195	2,088	2,011	1,962	1,908	1,752	1,626	1,514	1,451
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	1,579	1,532	1,477	1,431	1,362	1,321	1,352	1,307	1,210	1,127	1,056	989.32
	50.99	51.75	52.02	43.25	42.76	43.44	42.62	39.32	34.33	31.60	26.52	25.42
	118.41	114.64	116.09	111.20	109.56	97.25	90.60	84.40	79.19	72.85	67.33	66.27
	776.49	742.00	676.39	609.25	574.42	549.86	477.14	—	—	—	—	—
	299.35	291.03	260.60	251.82	222.42	213.23	201.71	191.84	171.03	167.26	159.29	160.79
	0.00	-71.69	0.00	-100.14	1.91	0.00	0.00	8.81	0.00	0.00	0.00	0.00
	299.35	219.34	260.60	151.68	224.33	213.23	201.71	200.65	171.03	167.26	159.29	160.79
	66.91	53.42	55.36	31.35	44.82	43.90	41.03	40.35	32.82	32.01	25.79	32.06
	232.44	165.92	205.25	120.33	179.51	169.32	160.69	160.31	138.21	135.25	133.50	128.73
	3.37	2.40	2.97	1.74	2.60	2.45	2.33	2.33	2.01	1.97	1.94	1.88
Key metrics
	468.75	385.73	428.71	306.13	376.65	353.92	334.93	324.37	284.55	271.71	253.14	252.48
	16.60%	14.20%	16.60%	12.50%	16.30%	16.00%	15.50%	15.40%	14.80%	15.20%	15.20%	15.80%
	8.20%	6.10%	7.90%	4.90%	7.80%	7.60%	7.40%	7.60%	7.20%	7.60%	8.00%	8.10%
	5.80%	—	5.40%	—	4.60%	—	4.40%	—	—	—	—	—
	22.20%	22.90%	19.50%	16.20%	20.10%	23.80%	29.40%	31.70%	—	—	—	—
	29.50%	-2.00%	27.70%	-24.90%	29.90%	25.20%	20.40%	24.50%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	10,577	9,556	7,980	6,336	6,022	5,921	5,078	4,099	3,826	3,535
	6.23	7.45	-0.87	36.84	130.85	0.56	1.27	8.84	3.89	5.43
	10,583	9,564	7,979	6,373	6,153	5,922	5,079	4,107	3,830	3,541
	9,480	8,616	7,248	5,743	5,538	5,275	4,532	3,713	3,394	3,183
	0.00	0.00	0.00	—	—	—	—	—	—	—
	0.00	0.00	0.00	—	—	—	—	—	—	—
	6,018	5,590	4,996	3,909	3,867	3,947	3,467	2,774	2,557	2,395
	198.01	181.47	147.88	103.39	78.97	63.94	52.23	58.32	29.00	40.40
	460.34	434.09	327.04	260.22	263.17	249.37	206.35	185.20	74.44	—
	2,804	2,410	1,777	—	191.61	189.09	806.55	696.19	733.55	680.87
	1,103	948.08	731.84	629.67	615.22	647.10	546.89	394.21	435.92	358.01
	-171.83	-98.23	8.81	0.00	0.00	0.00	-115.06	0.00	0.00	0.00
	930.97	849.84	740.65	629.67	615.22	647.10	431.83	394.21	435.92	358.01
	207.04	175.43	146.20	114.95	101.50	110.57	70.16	54.53	58.14	31.43
	723.94	674.41	594.45	514.73	513.71	536.53	361.68	339.69	377.78	326.58
	10.48	9.77	8.63	7.52	7.55	7.90	5.31	4.90	5.48	—
Key metrics
	1,589	1,465	1,216	993.28	957.36	960.41	690.41	637.73	539.36	398.41
	15.03%	15.30%	15.20%	15.70%	15.90%	16.20%	13.60%	15.60%	14.10%	11.30%
	6.84%	7.10%	7.40%	8.10%	8.50%	9.10%	7.10%	8.30%	9.90%	9.20%
	—	17.70%	16.20%	—	—	—	—	—	—	—
	20.28%	19.70%	25.90%	5.20%	1.70%	16.60%	23.90%	7.10%	8.20%	—
	8.08%	13.50%	15.50%	0.20%	-4.30%	48.30%	6.50%	-10.10%	15.70%	—
	—	1,018	459.91	—	—	—	—	—	—	—
	—	1.80	1.18	—	—	—	—	—	—	—
	—	0.44	0.37	—	—	—	—	—	—	—
	—	1,679	1,378	—	—	—	—	—	—	—
	—	58.1	58.9	—	—	—	—	—	—	—
Balance sheet
	—	9,320	7,922	—	—	—	—	—	—	—
	—	2,762	2,224	—	—	—	—	—	—	—
	—	258.58	154.21	—	—	—	—	—	—	—
	—	2,079	1,686	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	340.73	288.83	—	—	—	—	—	—	—
	—	310.35	276.29	—	—	—	—	—	—	—
	—	557.93	397.67	—	—	—	—	—	—	—
	—	3,479	2,429	—	—	—	—	—	—	—
	—	1,937	1,533	—	—	—	—	—	—	—
	—	1,748	1,191	—	—	—	—	—	—	—
	—	189.67	341.90	—	—	—	—	—	—	—
	—	4,385	4,098	—	—	—	—	—	—	—
Cash flow
	—	1,214	701.10	—	—	—	—	—	—	—
	—	-452.36	-745.90	—	—	—	—	—	—	—
	—	-666.78	22.59	—	—	—	—	—	—	—
	—	195.72	241.19	—	—	—	—	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	917.76	879.09	773.64	752.02	675.03	682.15	627.68	623.95	542.03	512.90	465.76	434.92
	11.43	14.96	8.64	10.95	10.01	12.05	10.65	10.89	8.36	10.38	9.03	10.08
	929.18	894.05	782.28	762.97	685.04	694.21	638.33	634.84	550.39	523.28	474.80	445.00
	666.49	627.50	594.66	594.07	567.25	527.81	512.84	511.92	438.09	405.24	363.87	335.56
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	419.73	397.67	391.61	379.56	364.36	343.69	343.15	329.06	300.47	272.92	244.12	217.82
	16.84	16.73	16.87	16.85	14.84	14.27	13.15	11.42	9.98	8.37	5.37	4.95
	58.42	54.54	53.91	53.47	54.23	43.78	39.51	34.17	26.27	25.79	26.25	24.01
	171.50	158.56	132.28	144.18	133.82	126.08	117.02	—	—	—	—	—
	262.69	266.55	187.62	168.90	117.78	166.40	125.49	122.92	112.30	118.04	110.92	109.44
	0.00	0.00	0.00	-97.47	0.00	0.00	0.00	55.14	—	—	—	—
	262.69	266.55	187.62	71.43	117.78	166.40	125.49	178.06	112.30	118.04	110.92	109.44
	63.28	59.76	47.59	12.63	19.74	31.18	33.14	30.08	20.44	23.19	17.74	19.89
	199.41	206.79	140.03	58.81	98.05	135.22	92.35	147.98	91.86	94.85	93.18	89.55
	2.88	2.99	2.03	0.85	1.42	1.96	1.34	2.15	1.34	1.38	1.36	1.31
Key metrics
	337.95	337.82	258.40	141.75	186.85	224.45	178.15	223.65	148.55	152.20	142.54	138.40
	36.80%	38.40%	33.40%	18.80%	27.70%	32.90%	28.40%	35.80%	27.40%	29.70%	30.60%	31.80%
	21.70%	23.50%	18.10%	7.80%	14.50%	19.80%	14.70%	23.70%	16.90%	18.50%	20.00%	20.60%
	7.90%	—	6.50%	—	4.10%	—	4.50%	—	—	—	—	—
	36.00%	28.90%	23.30%	20.50%	24.50%	33.00%	34.80%	43.50%	—	—	—	—
	103.40%	52.90%	51.60%	-60.30%	6.70%	42.60%	-0.90%	65.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	3,323	2,883	2,307	1,601	1,376	1,592	1,325	939.91	768.11	861.27
	45.98	41.65	40.27	36.58	33.74	30.75	28.21	30.80	61.92	12.71
	3,368	2,924	2,347	1,638	1,409	1,623	1,353	970.71	830.03	873.98
	2,483	2,284	1,868	1,258	1,098	1,169	927.63	758.72	607.16	654.72
	0.00	0.00	0.00	—	—	—	—	—	—	—
	0.00	0.00	0.00	—	—	—	—	—	—	—
	1,589	1,479	1,246	821.15	712.13	800.04	630.62	480.86	383.33	415.30
	67.29	62.82	42.92	17.34	14.94	20.07	15.30	15.68	1.54	6.23
	220.34	205.39	125.75	92.04	88.84	88.20	79.80	70.58	24.32	21.53
	606.52	536.36	453.83	—	23.51	35.89	201.91	191.60	197.96	211.66
	885.76	640.70	478.75	379.90	311.06	453.36	425.33	211.99	222.87	219.26
	-97.47	-97.47	55.14	—	—	—	—	—	—	—
	788.29	543.23	533.90	379.90	311.06	453.36	425.33	211.99	222.87	219.26
	183.26	111.13	106.85	60.20	62.71	65.77	58.67	29.98	23.85	27.34
	605.04	432.10	427.04	319.70	248.34	387.59	366.65	182.01	199.02	191.92
	8.75	6.26	6.20	4.67	3.65	5.70	5.38	2.63	2.89	—
Key metrics
	1,076	811.44	702.57	489.28	414.84	561.63	520.43	298.25	248.73	247.02
	32.38%	28.10%	30.50%	30.60%	30.20%	35.30%	39.30%	31.70%	32.40%	28.70%
	18.21%	15.00%	18.50%	20.00%	18.10%	24.30%	27.70%	19.40%	25.90%	22.30%
	—	19.40%	18.80%	—	—	—	—	—	—	—
	27.36%	25.00%	44.10%	16.40%	-13.60%	20.20%	40.90%	22.40%	-10.80%	—
	27.75%	1.20%	33.60%	28.70%	-35.90%	5.70%	101.40%	-8.50%	3.70%	—
	—	514.62	352.50	—	—	—	—	—	—	—
	—	1.46	1.18	—	—	—	—	—	—	—
	—	0.14	0.10	—	—	—	—	—	—	—
	—	278.42	226.48	—	—	—	—	—	—	—
	—	137.7	123.7	—	—	—	—	—	—	—
Balance sheet
	—	4,292	3,800	—	—	—	—	—	—	—
	—	1,376	1,066	—	—	—	—	—	—	—
	—	34.23	19.36	—	—	—	—	—	—	—
	—	1,199	894.57	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	114.17	100.25	—	—	—	—	—	—	—
	—	148.52	143.60	—	—	—	—	—	—	—
	—	111.28	113.38	—	—	—	—	—	—	—
	—	1,169	728.67	—	—	—	—	—	—	—
	—	312.65	245.84	—	—	—	—	—	—	—
	—	312.65	245.84	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	2,295	2,576	—	—	—	—	—	—	—
Cash flow
	—	633.02	503.63	—	—	—	—	—	—	—
	—	-33.56	-342.41	—	—	—	—	—	—	—
	—	-584.87	-183.22	—	—	—	—	—	—	—
	—	118.40	151.13	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +27.97%
Sales CAGR 5Y: +16.83%
Profit CAGR 3Y: +20.28%
Profit CAGR 5Y: +3.34%
Sales YoY (TTM): +27.36%
Profit YoY (TTM): +27.75%

Consolidated

Sales CAGR 3Y: +16.64%
Sales CAGR 5Y: +13.48%
Profit CAGR 3Y: +9.50%
Profit CAGR 5Y: +13.27%
Sales YoY (TTM): +20.28%
Profit YoY (TTM): +8.08%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 53.66%

Quarter	September 2026	June 2026
Promoter %	53.66%	53.66%

Holder	Type	Holding	Previous	Change
RPSG VENTURES LIMITED	Promoter	53.66%	53.66%	0.00%
HDFC SMALL CAP FUND	Public	9.11%	8.74%	+0.37%
LIFE INSURANCE CORPORATION OF INDIA	Public	4.01%	4.01%	0.00%
SBI TECHNOLOGY OPPORTUNITIES FUND	Public	1.90%	2.03%	-0.13%
ICICI BANK LTD	Public	1.73%	1.73%	0.00%
TATA DIGITAL INDIA FUND	Public	1.43%	1.43%	0.00%
ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED A/C ADITYA BIRLA SUN LIFE DIGITAL INDIA FUND	Public	1.25%	1.22%	+0.03%
SBI LIFE INSURANCE CO. LTD	Public	1.24%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Firstsource Solutions Ltd.	20,223	290.15	27.94	17.70%	+20.28% TTM	+8.08% TTM	-17.71%
eClerx Services Limited	14,699	1,562.85	20.24	32.70%	+22.41% TTM	+18.15% TTM	-34.03%
FUSION CX LIMITED	4,140	286.80	—	—	—	—	—
RPSG VENTURES LIMITED	2,803	847.25	765.91	9.00%	+18.53% TTM	-97.48% TTM	+2.79%
ONE POINT ONE SOLUTIONS LIMITED	1,912	72.70	—	8.10%	—	—	—
Hinduja Global Solutions Limited	1,608	345.65	-22.19	1.50%	-1.53% TTM	-46.01% TTM	-32.96%
Alldigi Tech Limited	1,269	832.55	13.44	25.50%	+5.90% TTM	+31.63% TTM	-5.31%
NSB BPO Solutions Limited	47	23.46	—	7.30%	—	—	-77.00%
We Win Limited	45	44.02	10.03	11.30%	+18.85% TTM	+171.95% TTM	-16.94%
Informed Technologies India Ltd.	35	84.20	30.47	2.20%	-38.83% TTM	+125.49% TTM	-2.07%
PlatinumOne Business Services Limited S	22	140.00	6.18	24.10%	—	—	-11.39%
BNR Udyog Ltd. S	10	33.69	-45.53	-9.20%	-26.42% TTM	-237.50% TTM	-27.63%
G-Tech Info-Training Ltd. S	4	10.74	-35.80	7.70%	-100.00% TTM	-900.00% TTM	-4.79%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Allotment of ESOP, is as enclosed4 Nov 2026 · Company Update / Allotment of ESOP / ESPS
The transcript of the investor/analyst call held on Thursday, October 29, 2026, is as enclosed31 Oct 2026 · Company Update / Earnings Call Transcript
Newspaper Publication for Quarter & Half Year ended 30th September 2026, is as enclosed31 Oct 2026 · Company Update / Newspaper Publication
Audio recording of Q2FY27 investor/analyst conference call held on Thursday, 29th October 2026 is as enclosed.29 Oct 2026 · Company Update / Analyst / Investor Meet
Intimation of Grant of ESOP is as enclosed29 Oct 2026 · Company Update / Allotment of ESOP / ESPS
Earning Presentation Q2FY2729 Oct 2026 · Company Update / Investor Presentation
Investor Presentation Q2FY2729 Oct 2026 · Company Update / Investor Presentation
The outcome of Board Meeting held on October 29, 2026 is as enclosed.29 Oct 2026 · Board Meeting / Outcome of Board Meeting
The Audited Financial statement for the Quarter and half year ended on September 30, 2026 is as enclosed29 Oct 2026 · Result / Financial Results
Schedule of Investor Meet on November 02 2026, November 04 2026, November 05 2026 and November 06 2026 is as enclosed26 Oct 2026 · Company Update / Analyst / Investor Meet
Press Release is as enclosed22 Oct 2026 · Company Update / Press Release / Media Release
Press Release is as enclosed20 Oct 2026 · Company Update / Press Release / Media Release
Schedule of Conference call with the Institutional Investors and Analysts for Q2FY27 on Thursday, October 29 2026, is as enclosed19 Oct 2026 · Company Update / Analyst / Investor Meet
Intimation of ESG Rating by NSE Sustainability Ratings and Analytics Limited16 Oct 2026 · Company Update / General
Firstsource Solutions Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/10/2026 ,inter alia, to consider and approve The Audited Standalone ....13 Oct 2026 · Board Meeting / Board Meeting
Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations 2018 for the quarter ended 30th September 2026, is as enclosed5 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Clarification letter on Volume Movement1 Oct 2026 · Company Update / General
The Exchange has sought clarification from Firstsource Solutions Ltd on October 1, 2026, with reference to Movement in Volume.<BR><BR>The reply is awaited.1 Oct 2026 · Company Update / Clarification
Intimation of Closure of Trading Window for Q2FY27, is as enclosed28 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Press Release is as enclosed25 Sep 2026 · Company Update / Press Release / Media Release
Allotment of ESOP, is as enclosed24 Sep 2026 · Company Update / Allotment of ESOP / ESPS
Press Release is as enclosed22 Sep 2026 · Company Update / Press Release / Media Release
Intimation of ESG Rating by Niche Ninety Nine Capability and Certifications (OPC) Private Limited, is as enclosed18 Sep 2026 · Company Update / General
Regulation 30 - Clarification is attached for the Movement in Volume/Price16 Sep 2026 · Company Update / General
The Exchange has sought clarification from Firstsource Solutions Ltd on September 16, 2026, with reference to Movement in Volume.<BR><BR>The reply is awaited.16 Sep 2026 · Company Update / Clarification
Allotment of ESOP, is as enclosed9 Sep 2026 · Company Update / Allotment of ESOP / ESPS
The Intimation of Investor/Analyst meet scheduled to be held on Friday, September 11, 2026, Monday, September 21, 2026 and Wednesday, September 23, 2026, is as enclosed.4 Sep 2026 · Company Update / Analyst / Investor Meet
Allotment of ESOP, is as enclosed28 Aug 2026 · Company Update / Allotment of ESOP / ESPS
The Intimation of Investor/Analyst sessions scheduled to be held on Wednesday, August 26, 2026, is as enclosed.20 Aug 2026 · Company Update / Analyst / Investor Meet
Allotment of ESOP, is as enclosed19 Aug 2026 · Company Update / Allotment of ESOP / ESPS
Allotment of ESOP is as enclosed12 Aug 2026 · Company Update / Allotment of ESOP / ESPS
The transcript of the investor/analyst call held on Thursday, August 06, 2026, is as enclosed11 Aug 2026 · Company Update / Earnings Call Transcript
Press Release is as enclosed11 Aug 2026 · Company Update / Press Release / Media Release
Newspaper Publication for Quarter ended 30th June 2026, is as enclosed10 Aug 2026 · Company Update / Newspaper Publication
Voting Result in respect of 25th Annual General Meeting ("AGM") held on August 6, 2026, is as enclosed.7 Aug 2026 · Company Update / General
Scrutinizer''s Report in respect of 25th Annual General Meeting ("AGM"") held on August 6, 2026, is as enclosed7 Aug 2026 · AGM/EGM / AGM
Audio recording of Q1FY27 investor/analyst conference call held on Thursday, 6th August 2026 is as enclosed.6 Aug 2026 · Company Update / Analyst / Investor Meet
Proceeding of 25th Annual General Meeting held on August 06, 2026 is as enclosed6 Aug 2026 · AGM/EGM / AGM
Q1FY27 Investor Presentation for the Quarter ended June 30, 2026 is as enclosed.6 Aug 2026 · Company Update / Investor Presentation
Q1FY27 Earnings Presentation for the Quarter ended June 30, 2026 is as enclosed6 Aug 2026 · Company Update / Investor Presentation

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 5.5000	20 Feb 2026	20 Feb 2026	—
Interim Dividend - Rs. - 4.0000	21 Feb 2025	21 Feb 2025	—

Board meetings

29 Oct 2026 Board Meeting - Financial Results
6 Aug 2026 Board Meeting - Financial Results