Services · NIFTY 500
Firstsource Solutions Limited
NSEFSL
BSE532809 ISININE684F01012 SeriesEQ Listed on NSE · BSE
₹287.70 -7.55 (-2.56%) Updated 12 Nov, 6:16 pm IST
Price, daily close-16.71% in a year
Today
- Open
- ₹295.00
- Prev close
- ₹295.25
- Day high
- ₹295.00
- Day low
- ₹286.10
- Volume
- 6.44 L
- Value traded
- ₹18.65 Cr
- Upper circuit
- ₹354.30
- Lower circuit
- ₹236.20
- 52W high
- ₹371.75
- 52W low
- ₹202.00
- 1 month
- +10.25%
- 6 months
- +12.53%
52W low52W high
Ratios
Key numbers
Worked out from the latest filings (Consolidated) and today's price. TTM = last four quarters.
Market cap₹20,052 Cr
P/E (TTM)27.96
P/B4.11
Book value / share₹69.98
EPS (TTM)₹10.29
ROE14.9%
Dividend yield1.91%
Dividend (12m)₹5.50 / share
Net margin (TTM)6.8%
Operating margin16.7%
Debt / equity0.40
Current ratio0.89
EV / EBITDA13.67
Sales growth (YoY qtr)+22.20%
Profit growth (YoY qtr)+29.70%
Sales CAGR 3Y+16.64%
Profit CAGR 3Y+9.50%
Shares69.70 Cr
Quarterly results
Results for each quarter
Last 12 quarters, consolidated, ₹ crore. Hover a bar to see the number.
Revenue and net profit
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 · QoQ (vs last quarter)
—+4.6%+7.2%+7.5%+9.2%+2.8%+2.6%+4.3%+5.7%+5.7%+5.5%+3.7%
Revenue · YoY (vs a year ago)
————+32%+29%+24%+20%+16%+20%+23%+22%
Net profit · QoQ (vs last quarter)
—+3.7%+1.3%+2.2%+16%+0.2%+5.4%+6.0%-33%+71%-19%+40%
Net profit · YoY (vs a year ago)
————+25%+20%+25%+30%-25%+28%-2.0%+30%
RevenueNet profitLine = trend
Dec 23
Mar 24
Jun 24
Sep 24
Dec 24
Mar 25
Jun 25
Sep 25
Dec 25
Mar 26
Jun 26
Sep 26
EPS (₹) · YoY (vs a year ago)
————+23%+20%+25%+30%-25%+28%-1.7%+30%
EPS (₹)Line = trend
| ₹ Cr | 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 | 1,597 | 1,670 | 1,791 | 1,925 | 2,102 | 2,161 | 2,218 | 2,312 | 2,443 | 2,583 | 2,725 | 2,826 |
| Other income | 15.4 | 2.8 | 1.8 | -2.7 | -2.1 | 2.1 | 6.8 | -1.3 | 3.6 | -1.7 | 6.1 | -1.8 |
| Total income | 1,612 | 1,673 | 1,793 | 1,923 | 2,100 | 2,164 | 2,224 | 2,311 | 2,447 | 2,582 | 2,731 | 2,824 |
| Raw material | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Purchases | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Employee cost | 989 | 1,056 | 1,127 | 1,210 | 1,307 | 1,352 | 1,321 | 1,362 | 1,431 | 1,477 | 1,532 | 1,579 |
| Other expenses | 370 | 364 | 394 | 428 | 478 | 477 | 550 | 574 | 609 | 676 | 742 | 776 |
| Total expenses | 1,451 | 1,514 | 1,626 | 1,752 | 1,908 | 1,962 | 2,011 | 2,089 | 2,195 | 2,321 | 2,440 | 2,524 |
| Operating profit | 237 | 250 | 270 | 287 | 326 | 333 | 347 | 378 | 303 | 430 | 380 | 471 |
| OPM % | 14.9% | 15.0% | 15.1% | 14.9% | 15.5% | 15.4% | 15.7% | 16.3% | 12.4% | 16.7% | 13.9% | 16.7% |
| Finance cost | 25.4 | 26.5 | 31.6 | 34.3 | 39.3 | 42.6 | 43.4 | 42.8 | 43.3 | 52.0 | 51.8 | 51.0 |
| Depreciation | 66.3 | 67.3 | 72.9 | 79.2 | 84.4 | 90.6 | 97.2 | 110 | 111 | 116 | 115 | 118 |
| Exceptional items | — | — | — | — | 8.8 | — | — | 1.9 | -100 | — | -71.7 | — |
| Profit before tax | 161 | 159 | 167 | 171 | 201 | 202 | 213 | 224 | 152 | 261 | 219 | 299 |
| Tax | 32.1 | 25.8 | 32.0 | 32.8 | 40.3 | 41.0 | 43.9 | 44.8 | 31.3 | 55.4 | 53.4 | 66.9 |
| Net profit | 129 | 134 | 135 | 138 | 160 | 161 | 169 | 180 | 120 | 205 | 166 | 232 |
| Profit to shareholders | 129 | 134 | 135 | 138 | 160 | 161 | 169 | 180 | 120 | 205 | 166 | 233 |
| EPS (₹) | 1.84 | 1.90 | 1.92 | 1.96 | 2.27 | 2.28 | 2.40 | 2.54 | 1.71 | 2.91 | 2.36 | 3.31 |
Profit & loss
Results for each year
8 financial years (April to March), consolidated, ₹ crore.
Sales, operating profit and net profit
FY19
FY20
FY21
FY22
FY23
FY24
FY25
FY26
Revenue · YoY (vs a year ago)
—+7.1%+24%+17%+1.7%+5.2%+26%+20%
Net profit · YoY (vs a year ago)
—-10%+6.5%+49%-4.4%+0.2%+15%+13%
RevenueOperating profitNet profitLine = trend
| ₹ Cr | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,826 | 4,099 | 5,078 | 5,921 | 6,022 | 6,336 | 7,980 | 9,556 |
| Other income | 3.9 | 8.8 | 1.3 | 0.6 | 131 | 36.8 | -0.9 | 7.5 |
| Total expenses | 3,394 | 3,713 | 4,532 | 5,275 | 5,538 | 5,743 | 7,248 | 8,616 |
| Employee cost | 2,557 | 2,774 | 3,467 | 3,947 | 3,867 | 3,909 | 4,996 | 5,590 |
| Operating profit | 535 | 629 | 689 | 960 | 827 | 956 | 1,216 | 1,458 |
| OPM % | 14.0% | 15.3% | 13.6% | 16.2% | 13.7% | 15.1% | 15.2% | 15.3% |
| Finance cost | 29.0 | 58.3 | 52.2 | 63.9 | 79.0 | 103 | 148 | 181 |
| Depreciation | 74.4 | 185 | 206 | 249 | 263 | 260 | 327 | 434 |
| Profit before tax | 436 | 394 | 432 | 647 | 615 | 630 | 741 | 850 |
| Tax | 58.1 | 54.5 | 70.2 | 111 | 102 | 115 | 146 | 175 |
| Tax rate % | 13.3% | 13.8% | 16.2% | 17.1% | 16.5% | 18.3% | 19.7% | 20.6% |
| Net profit | 378 | 340 | 362 | 537 | 514 | 515 | 594 | 674 |
| Profit to shareholders | 378 | 340 | 362 | 537 | 514 | 515 | 594 | 674 |
| Net margin % | 9.9% | 8.3% | 7.1% | 9.1% | 8.5% | 8.1% | 7.4% | 7.1% |
| EPS (₹) | 5.45 | 4.89 | 5.13 | 7.62 | 7.32 | 7.34 | 8.42 | 9.56 |
Balance sheet
Assets and debt
At each year end (and the latest half year), ₹ crore.
Equity, debt and assets
Mar 23
Mar 24
Mar 25
Mar 26
Sep 26
Shareholders' equity · YoY (vs a year ago)
—+9.9%+11%+7.0%—
Shareholders' equityBorrowingsCashLine = trend
| ₹ Cr | Mar 23 | Mar 24 | Mar 25 | Mar 26 | Sep 26 |
|---|---|---|---|---|---|
| Shareholders' equity | 3,367 | 3,700 | 4,098 | 4,385 | 4,878 |
| Long-term borrowings | 139 | 4.2 | 342 | 190 | 0.0 |
| Short-term borrowings | 688 | 808 | 1,191 | 1,748 | 1,941 |
| Total borrowings | 827 | 812 | 1,533 | 1,937 | 1,941 |
| Current liabilities | 1,560 | 1,641 | 2,429 | 3,479 | 3,659 |
| Fixed assets (PPE) | 174 | 164 | 276 | 310 | 347 |
| Inventories | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Trade receivables | 1,038 | 1,161 | 1,686 | 2,079 | 2,347 |
| Cash & equivalents | 152 | 175 | 154 | 259 | 352 |
| Current assets | 1,408 | 1,537 | 2,224 | 2,762 | 3,266 |
| Total assets | 5,664 | 6,083 | 7,922 | 9,320 | 9,749 |
| Debt / equity | 0.25 | 0.22 | 0.37 | 0.44 | 0.40 |
Cash flow
Cash coming in and going out
For each financial year, ₹ crore. Free cash flow = cash from operations minus spending on fixed assets.
Operating, investing and financing cash
FY22
FY23
FY24
FY25
FY26
Operations · YoY (vs a year ago)
—+13%-19%+8.7%+73%
OperationsInvestingFinancingLine = trend
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 704 | 795 | 645 | 701 | 1,214 |
| Cash from investing | -595 | 16.4 | -58.0 | -746 | -452 |
| Cash from financing | -158 | -743 | -564 | 22.6 | -667 |
| Spent on fixed assets | -85.0 | -53.6 | -85.1 | -241 | -196 |
| Free cash flow | 619 | 741 | 560 | 460 | 1,018 |
| Net cash flow | -49.0 | 68.0 | 22.6 | -22.2 | 94.8 |
Shareholding
Who holds the shares
Promoter and public holding at each quarter end, as filed with NSE.
Holding over time
Promoter & groupPublic
Latest (30 Sep 2026)
53.7%promoter
- Promoter & group
- 53.66%
- Public (FIIs, mutual funds, retail…)
- 45.61%
- Employee trusts
- 0.73%
- Promoter change, last quarter
- 0.00 pts
Dividends & news
Latest dividends and announcements
Dividends & corporate actions
- Interim Dividend - Rs 5.50 Per Share
- Interim Dividend - Rs 4 Per Share
- Annual General Meeting
- Interim Dividend - Rs 3.50 Per Share
- Annual General Meeting
- Interim Dividend - Rs 3.50 Per Share
- Annual General Meeting
- Interim Dividend - Rs 3.50 Per Share
Board meetings
- Firstsource Solutions Limited has informed the Exchange about Board Meeting to be held on 29-Oct-2026 to inter-alia consider and approve the Audited …
- the financial results for the period ended September 30, 2026
- Firstsource Solutions Limited has informed the Exchange about Board Meeting to be held on 06-Aug-2026 to inter-alia consider and approve the Audited …
- the financial results for the period ended Jun 30, 2026
- Firstsource Solutions Limited has informed the Exchange about Board Meeting to be held on 06-May-2026 to inter-alia consider and approve the Audited …
Filings with NSE
- Press Release
- ESOP/ESOS/ESPS
- Analysts/Institutional Investor Meet/Con. Call Updates
- Copy of Newspaper Publication
- Analysts/Institutional Investor Meet/Con. Call Updates
- ESOP/ESOS/ESPS
- Investor Presentation
Latest news
Firstsource Solutions shares tumble over 17% as Q1 profit falls 2% YoY to ₹166 crore; check June quarter resultsUpstox · 6 Aug, 12:30 pmFirstsource Solutions (NSEI:FSL) Stock Forecast & Analyst PredictionsSimply Wall St · 30 Oct, 12:30 pmWhy Firstsource Solutions Share Price is RisingEquitymaster · 8 May, 12:30 pmFirstsource Solutions share price jumps 9% with volume surging 2 times - Experts highlight key levels to watchTradingView · 30 Sep, 12:30 pmFirstsource Solutions Share Price Jumps 17% on Friday; Here’s WhyDalal Street Investment Journal · 8 May, 12:30 pmFirstsource tanks 16% in 2 days after Q1 show; brokerages mixed on outlookBusiness Standard · 7 Aug, 12:30 pmFirstsource Solutions stock jumps 18%; should you 'Buy'? Brokerages share target pricesBusiness Today · 8 May, 12:30 pmIs Firstsource Solutions the Best Stock in Its Sector? A Look at the NumbersUnivest · 12 Oct, 12:30 pmAbout
About Firstsource Solutions Limited
Firstsource Solutions Limited is listed on the NSE under the symbol FSL and belongs to the Services sector.
Company details
- Company name
- Firstsource Solutions Limited
- NSE symbol
- FSL
- BSE scrip code
- 532809
- ISIN
- INE684F01012
- Listed on
- NSE, BSE
- Series
- EQ (normal equity)
- Listed on NSE since
- 22 Feb 2007
- Face value
- ₹10 per share
- Market lot
- 1 share
- Shares issued
- 69.70 crore
- Index
- NIFTY 500
- Sector (NSE)
- Services
- Industry
- Miscellaneous Commercial Services
- Managing director / CEO
- Ritesh Idnani
- Chair
- Sanjiv Goenka
- Headquarters
- Mumbai, IN
- Registered address
- 1st Floor, Athena Towers, Mindspace Malad, Goregaon (W), Mumbai – 400 063 India
- Founded
- 2001
- Employees
- 36,205
- Financial year
- April to March
- Results basis
- Consolidated
- Website
- firstsource.com
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Prices from NSE via Upstox. Financials from the company's results filed with NSE (XBRL); ratios are our own working. Profile from global-stock-logos (MIT). For information only, not a recommendation to buy or sell.