FSL

Firstsource Solutions Ltd.

NSE: FSL

BSE: 532809

Sector: Services

Industry Group: Commercial Services & Supplies

Industry: Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO)

237.00-6.7 (-2.77%)

8 Jul, 12:00 AM

Overview

Analysis Statements Technicals Forecast Peers Resources News

Stock Scores

Quality Score

71.8 / 100

Value Score

64.4 / 100

Price Momentum Score

18.9 / 100

QVM Score

49.8 / 100

Key Metrics

Market Cap

16377.20

P/E (TTM)

24.28

P/B

3.74

P/S (TTM)

1.71

EV/EBITDA

12.18

CAPE (5Y)

29.43

ROE (TTM)

15.90

ROCE (TTM)

16.06

ROA (TTM)

7.82

Avg 3Y ROE

15.24

Earnings 3Y CAGR

9.30

Sales 3Y CAGR

16.64

Sales 5Y CAGR

13.48

Debt/Equity

0.67

Consensus TP

299.00

Strong Buy %

46.15

Promoter Holding

53.66

Pledged %

0.00

Stock Analysis

Fundamental analysis overview of Firstsource Solutions Ltd. covering key investment insights, growth drivers, risk factors, and potential red flags.

Views

Red Flags

Positive

Analysts have been raising forward EPS estimates

Analyst EPS estimate (consensus) for forward EPS has increased by 2.15% in the last 3 months, indicating earnings momentum

What is Earnings upgrade (3M)?

High and stable ROE

The company reported strong ROE of 15.9% for 12-month ended 31 Mar 2026 and ROE improved marginally by 64 bps from 1 year ago

What is ROE (FY)?

Moderate revenue growth and above median growth of industry

The company delivered moderate revenue growth of 19.75% for 12-month ended 31 Mar 2026 and the growth was 3.79 percentage points higher than median growth of industry

What is Sales growth (1Y)?

Median: 15.96

Value 19.75

-4363.29

Low Debt to Equity, not much change from last year

The company has low Debt to Equity of 0.67 as on 31 Mar 2026 and Debt to Equity increased marginally by 0.04 in the last 1 year

What is Debt to Equity?

Company's earnings are of high quality

Earnings quality score of 79.0 indicates that the company's earnings are of high quality. Earnings quality is measured using combination of earnings persistence, probability of manipulation and earnings to cash conversion

What is Earnings quality score?

79.0 / 100

Consistently pays dividend

The company has not missed dividend payments once in the last 8 financial years

What is Dividend streak?

Negative

Weak price momentum

Price Momentum score of 18.9 indicates that the stock has weak price momentum. Research has shown that stocks with lower momentum continue to underperform in the near term

What is Price Momentum score?

18.9 / 100

Neutral

Reasonably valued but PE TTM is at a premium to industry median P/E

PE TTM of 24.28 indicates that the stock is reasonably valued on a standalone basis but is at a 70.51% premium to industry median P/E

What is P/E Ratio?

Median: 14.24

Value 24.28

0.06145.6

Moderate and stable operating margin

The company reported moderate operating margin of 11.74% for 12-month ended 31 Mar 2026 and operating margin improved marginally by 70 bps from 1 year ago

What is Operating profit margin?

Moderate EPS growth and in line with median growth of industry

The company delivered moderate EPS growth of 13.49% for 12-month ended 31 Mar 2026 and the growth was 0.0 percentage points lower than median growth of industry

What is EPS growth (1Y)?

Moderate dividend yield

The company has a moderate dividend yield of 2.32%

What is Dividend yield?

Financial Snapshot

See detailed analysis

Multi-year trends for Firstsource Solutions Ltd. covering revenue, net profit, ROE, and EBITDA for a quick view of financial health over time.

Net Revenue FY

Profit After Tax FY

ROE FY

EBITDA FY

Firstsource Solutions Ltd. Shareholding Pattern

Quarterly breakdown of Firstsource Solutions Ltd. ownership including promoter, FII, DII, mutual fund, and public holdings as disclosed to NSE/BSE.

	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Total Promoter	53.90	53.89	53.82	53.77	53.72	53.68	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66
Indian Promoter	53.90	53.89	53.82	53.77	53.72	53.68	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66
Foreign Promoter	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Institutions	21.88	20.75	21.13	24.17	24.76	27.05	24.43	24.38	22.54	22.51	21.67	22.59	24.02	25.16	26.44	28.05	28.86	28.88	30.23	31.89	32.98	33.52	33.87	34.39	34.35
Mutual Funds / UTI	7.46	7.78	9.30	11.17	11.92	12.61	11.93	12.95	12.91	12.84	11.53	12.45	13.32	13.43	14.48	16.19	17.14	17.16	15.93	17.53	17.40	17.09	17.83	18.28	18.49
FI/Bank/Insurance	4.86	4.85	5.23	4.62	2.31	2.31	1.74	1.73	1.73	1.73	1.73	1.73	1.73	1.73	1.73	1.96	2.10	2.33	2.51	3.22	5.34	6.75	6.74	6.89	6.98
Govt	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FII	9.52	8.07	6.56	8.34	10.45	12.06	10.64	9.60	7.79	7.95	8.41	8.41	8.95	9.99	10.21	9.89	9.59	9.36	11.63	11.01	10.07	9.58	9.25	9.20	8.85
Other Institutions	0.04	0.04	0.04	0.04	0.08	0.08	0.12	0.10	0.12	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.03	0.03	0.16	0.14	0.16	0.11	0.06	0.02	0.02
Non-Institution	24.21	25.37	25.04	22.06	21.52	19.26	21.90	21.96	23.80	23.83	24.67	23.77	22.33	21.19	19.91	18.30	17.50	17.47	16.12	14.45	13.37	12.82	12.47	11.95	12.00
Bodies Corporate	2.79	1.62	1.29	1.24	1.05	1.13	1.63	1.23	1.16	0.83	0.76	0.85	0.64	0.80	0.86	0.56	0.65	0.70	0.71	0.44	0.36	0.30	0.38	0.32	0.30
Others (incl. Retail) No. of shareholders	21.42 1,64,485	23.75 1,69,646	23.75 1,79,604	20.82 1,81,131	20.47 1,95,129	18.13 2,06,794	20.27 2,77,449	20.73 2,93,069	22.64 3,19,485	23.00 3,27,081	23.91 3,40,749	22.92 3,27,883	21.69 3,09,015	20.39 2,94,439	19.05 2,86,280	17.74 2,74,315	16.85 2,65,958	16.77 2,57,843	15.41 2,81,843	14.01 2,79,500	13.01 2,65,880	12.52 2,53,294	12.09 2,40,144	11.63 2,29,675	11.70 2,29,187

Holdings and Presence

Indices and prominent investors with a stake in this stock.

Index Presence

#	Index	Weight	Rank
1	Nifty Smallcap 250	0.42%	85 / 249
2	Nifty Total Market	0.04%	337 / 749
3	Nifty 500	0.04%	324 / 499

Prominent Investor Holdings

Bulk, Block and Insider Trades

Recent bulk deals, block deals, and insider trading activity in Firstsource Solutions Ltd. shares as reported to NSE and BSE.

Name	Month	Transaction	Holding % pre transaction	Average price	Qty.	Transaction value
Firstsource Employee Benefit Trust Trust	May-2026	Market Sale (Disposal) 15th May 2026	0.95 %	₹ 243.23	46.36 k	₹ 1.13 cr
Firstsource Employee Benefit Trust Trust	May-2026	Off Market (Disposal) 15th May 2026	0.94 %	₹ 14.19	4.12 lac	₹ 58.48 lac
Firstsource Employee Benefit Trust Trust	April-2026	Market Purchase (Acquisition) 1st Apr 2026	0.92 %	₹ 223.88	1.63 lac	₹ 3.66 cr
Firstsource Employee Benefit Trust Trust	April-2026	Market Sale (Disposal) 1st Apr 2026	0.93 %	₹ 207.53	18.83 k	₹ 39.08 lac
Firstsource Employee Benefit Trust Trust	April-2026	Off Market (Disposal) 1st Apr 2026	0.93 %	₹ 10.00	45.33 k	₹ 4.53 lac
Rajiv Malhotra Designated Person	March-2026	Market Sale (Disposal) 19th Mar 2026	0.01 %	₹ 213.20	19.00 k	₹ 40.51 lac
Firstsource Employee Benefit Trust Trust	March-2026	Off Market (Disposal) 16th Mar 2026	0.94 %	₹ 10.00	35.62 k	₹ 3.56 lac
Firstsource Employee Benefit Trust Trust	March-2026	Market Sale (Disposal) 5th Mar 2026	0.95 %	₹ 210.21	10.43 k	₹ 21.92 lac
Firstsource Employee Benefit Trust Trust	March-2026	Off Market (Disposal) 5th Mar 2026	0.94 %	₹ 10.00	43.82 k	₹ 4.38 lac
Firstsource Employee Benefit Trust Trust	March-2026	Market Purchase (Acquisition) 2nd Mar 2026	0.92 %	₹ 213.75	1.50 lac	₹ 3.21 cr

…

Corporate Actions

History of Firstsource Solutions Ltd. dividends, bonus issues, stock splits, rights issues, and other corporate events.

Dividend₹ 5.50/share
Record date: 20th Feb 2026Ex-date: 20th Feb 2026
Announced on: 3rd Feb 2026
Dividend₹ 4/share
Record date: 21st Feb 2025Ex-date: 21st Feb 2025
Announced on: 7th Feb 2025
Dividend₹ 3.50/share
Record date: 16th Feb 2024Ex-date: 16th Feb 2024
Announced on: 7th Feb 2024
Dividend₹ 3.50/share
Record date: 17th Feb 2023Ex-date: 17th Feb 2023
Announced on: 27th Jan 2023
Dividend₹ 3.50/share
Record date: 18th Feb 2022Ex-date: 17th Feb 2022
Announced on: 4th Feb 2022

Company Profile

Overview of Firstsource Solutions Ltd. covering business description, industry classification, key management, financial ratios, and listed exchange details.

Firstsource Solutions Limited is an India-based company. The Company is engaged in providing information technology (IT) enabled business process management (BPM) services to banking and financial services, healthcare, communication media and technology and other diverse industries. The Company oper...

Key personnel

Mr. Dinesh Jain

President, Chief Financial Officer

Ms. Shamita Mukherjee

Chief Human Resources Officer

Jagriti Bhattacharya

Executive Vice President, General Counsel

Shanmuhan Kumaran

Executive Vice President, Chief Strategy Officer

Mr. Aniket Maindarkar

Chief Marketing Officer

Ms. Pooja Suresh Nambiar

Compliance Officer, Company Secretary

Mr. Ashish Chawla

Head - CX and Consulting

Mr. Rajiv Malhotra

Head - Europe, Middle East and Africa

View all

Incorporated on

06 Dec 2001

Last Annual

31 Mar 2026

Last Interim

31 Mar 2026

No. of Employees

IPO date

26 Feb 2007

Free Float

30,96,93,001

Website

https://www.firstsource.com/

Phone no.

+912266660888

Address

5TH FLOOR, PARADIGM B WING LINK ROAD,, MINDSPACE, MALAD WEST, , 400064, India

Frequently Asked Questions

What is the current share price of Firstsource Solutions Ltd.?

The current share price of Firstsource Solutions Ltd. is ₹ 237.00 as of 8 Jul 2026.

What is the market capitalisation of Firstsource Solutions Ltd.?

The market capitalisation of Firstsource Solutions Ltd. stands at ₹ 16,377.20 Cr.

What is the PE ratio of Firstsource Solutions Ltd.?

The Price-to-Earnings (PE) ratio of Firstsource Solutions Ltd. is 24.28 as of the latest trailing twelve months data.

What is the ROE and ROCE of Firstsource Solutions Ltd.?

Firstsource Solutions Ltd. has a Return on Equity (ROE) of 15.90% and a Return on Capital Employed (ROCE) of 16.06% as per the latest financial reports.

What is the 52-week high and low of Firstsource Solutions Ltd.?

The 52-week high of Firstsource Solutions Ltd. is - and the 52-week low is -.

What is the dividend yield of Firstsource Solutions Ltd.?

The dividend yield of Firstsource Solutions Ltd. is 2.32% based on the current market price.

What is the FII and DII holding in Firstsource Solutions Ltd.?

Foreign Institutional Investors (FII) hold 8.85%, Domestic Institutional Investors (DII) hold 25.47% and retail/public investors hold 11.70% of Firstsource Solutions Ltd. shares.

What sector does Firstsource Solutions Ltd. belong to?

Firstsource Solutions Ltd. operates in the Services sector. 84.62% of analysts have a Buy or Strong Buy rating on Firstsource Solutions Ltd. with a consensus target price of ₹ 299.00, implying 26.16% upside from current levels.

What is the beta of Firstsource Solutions Ltd.?

The beta of Firstsource Solutions Ltd. is 1.20, indicating its price volatility relative to the broader market. Over the past 1 year, Firstsource Solutions Ltd. has delivered an absolute return of -36.74%.

What is the RSI of Firstsource Solutions Ltd.?

The 14-day Relative Strength Index (RSI) of Firstsource Solutions Ltd. is 44.63, placing it in the neutral zone. An RSI above 70 is considered overbought and below 30 is considered oversold.

Firstsource Solutions Ltd.

Stock Scores

Key Metrics

Share Price

Stock Analysis

Financial Snapshot

Firstsource Solutions Ltd. Shareholding Pattern

Holdings and Presence

Bulk, Block and Insider Trades

Corporate Actions

Company Profile

Frequently Asked Questions

Stock Analysis

Holdings and Presence

Corporate Actions

Company Profile