Firstsource Solutions Ltd.
•₹ 276.051.4%
2026-08-21
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Healthcare: 33.4% • Banking, Financial Services and Insurance: 32.4% • Communication, media and Technology: 21.3% • Diverse Industries: 13.0%
PROS
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.43x)
- Company has been maintaining a healthy dividend payout of 56.8%
- Working capital cycle has improved - days down from -9 to -26
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Recurring exceptional / one-off items are inflating headline profit
- Expensive relative to growth - PEG of 3.0
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | NAUKRI | 1367.50 | 55.43 | 88671.52 | 0.61 | 490.05 | 42.93 | 880.75 | 11.37 | 5.94 | 39.10 |
| 2. | AFFLE | 1694.45 | 49.97 | 23877.23 | 0.00 | 128.44 | 21.74 | 747.16 | 20.37 | 16.85 | 22.43 |
| 3. | FSL | 273.15 | 28.88 | 19376.49 | 2.01 | 165.92 | -2.01 | 2724.88 | 22.69 | 17.26 | 16.56 |
| 4. | ECLERX | 1832.85 | 23.65 | 17238.09 | 0.05 | 1642.42 | 1060.31 | 11523.58 | 1133.05 | 40.23 | 23.02 |
| 5. | PROTEAN | 545.45 | 26.82 | 2215.68 | 1.83 | 5.86 | -75.43 | 250.96 | 19.03 | 12.55 | 4.95 |
| 6. | HGS | 406.50 | 58.75 | 1891.05 | 0.00 | -662.60 | -6037.28 | 10503.60 | 894.44 | 3.21 | -3.28 |
| 7. | ONEPOINT | 56.07 | 32.67 | 1474.29 | 0.00 | 16.31 | 72.83 | 158.32 | 129.42 | 17.04 | 22.61 |
| 8. | ALLDIGI | 811.35 | 14.47 | 1236.36 | 7.40 | 18.12 | 21.69 | 150.28 | 4.43 | 41.28 | 27.52 |
| 9. | MATRIMONY | 551.15 | 25.41 | 1139.41 | 0.91 | 19.08 | 127.14 | 130.51 | 13.16 | 21.40 | 20.06 |
| 10. | VAKRANGEE | 5.78 | 58.54 | 626.08 | 0.00 | 2.26 | -32.03 | 55.92 | -18.76 | 6.07 | 11.87 |
| 11. | SIGMA | 46.34 | 15.23 | 476.26 | 0.00 | 12.57 | 142.57 | 23.03 | 11.48 | 59.21 | 33.59 |
| 12. | SECMARK | 128.00 | 40.77 | 133.72 | 0.00 | -0.19 | 79.20 | 10.35 | 55.56 | 22.41 | 9.82 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,527 | 1,542 | 1,595 | 1,669 | 1,784 | 1,933 | 2,088 | 2,168 | 2,221 | 2,315 | 2,467 | 2,613 | 2,725 | |
| 1,289 | 1,311 | 1,359 | 1,420 | 1,521 | 1,638 | 1,785 | 1,829 | 1,871 | 1,936 | 2,040 | 2,153 | 2,440 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 2 | 17 | 15 | 3 | 2 | -3 | -2 | 2 | 7 | -1 | 4 | -2 | 6 |
| Interest | 25 | 26 | 25 | 27 | 32 | 34 | 39 | 43 | 43 | 43 | 43 | 52 | 52 |
| Depreciation | 61 | 65 | 66 | 67 | 73 | 79 | 84 | 91 | 97 | 110 | 111 | 116 | 115 |
| 155 | 154 | 161 | 159 | 167 | 171 | 201 | 202 | 213 | 224 | 152 | 261 | 219 | |
| Tax % | 18.87% | 18.01% | 19.94% | 16.19% | 19.14% | 19.19% | 20.11% | 20.34% | 20.59% | 19.98% | 20.67% | 21.24% | 24.36% |
| Net Profit | 0 | 0 | 0 | 0 | 135 | 138 | 160 | 161 | 169 | 180 | 120 | 205 | 166 |
| 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 3 | 0 | |
| Equity Capital | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 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% |
| Equity Capital | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 | 697 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 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% |
Jun 2023
- 1,527
- 1,289
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 25
- Depreciation
- 61
- 155
- Tax %
- 18.87%
- Net Profit
- 0
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 1,542
- 1,311
- Operating Profit
- —
- OPM %
- —
- Other Income
- 17
- Interest
- 26
- Depreciation
- 65
- 154
- Tax %
- 18.01%
- Net Profit
- 0
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 1,595
- 1,359
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 25
- Depreciation
- 66
- 161
- Tax %
- 19.94%
- Net Profit
- 0
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 1,669
- 1,420
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 27
- Depreciation
- 67
- 159
- Tax %
- 16.19%
- Net Profit
- 0
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 1,784
- 1,521
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 32
- Depreciation
- 73
- 167
- Tax %
- 19.14%
- Net Profit
- 135
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,933
- 1,638
- Operating Profit
- —
- OPM %
- —
- Other Income
- -3
- Interest
- 34
- Depreciation
- 79
- 171
- Tax %
- 19.19%
- Net Profit
- 138
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 2,088
- 1,785
- Operating Profit
- —
- OPM %
- —
- Other Income
- -2
- Interest
- 39
- Depreciation
- 84
- 201
- Tax %
- 20.11%
- Net Profit
- 160
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 2,168
- 1,829
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 43
- Depreciation
- 91
- 202
- Tax %
- 20.34%
- Net Profit
- 161
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 2,221
- 1,871
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 43
- Depreciation
- 97
- 213
- Tax %
- 20.59%
- Net Profit
- 169
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 2,315
- 1,936
- Operating Profit
- —
- OPM %
- —
- Other Income
- -1
- Interest
- 43
- Depreciation
- 110
- 224
- Tax %
- 19.98%
- Net Profit
- 180
- 3
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 2,467
- 2,040
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 43
- Depreciation
- 111
- 152
- Tax %
- 20.67%
- Net Profit
- 120
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 2,613
- 2,153
- Operating Profit
- —
- OPM %
- —
- Other Income
- -2
- Interest
- 52
- Depreciation
- 116
- 261
- Tax %
- 21.24%
- Net Profit
- 205
- 3
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 2,725
- 2,440
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 52
- Depreciation
- 115
- 219
- Tax %
- 24.36%
- Net Profit
- 166
- 0
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,556 | 3,535 | 3,826 | 4,099 | 5,078 | 5,921 | 6,022 | 6,336 | 7,980 | 9,556 | 10,120 | |
| 3,113 | 3,066 | 3,278 | 3,445 | 4,241 | 4,964 | 5,199 | 5,385 | 6,784 | 8,004 | 8,570 | |
| Operating Profit | 450 | 477 | 556 | 662 | 840 | 960 | 957 | 993 | 1,207 | 1,564 | — |
| OPM % | 13 | 13 | 15 | 16 | 17 | 16 | 16 | 16 | 15 | 16 | — |
| Other Income | 7 | 8 | 8 | 9 | 4 | 4 | 134 | 42 | 10 | 11 | 7 |
| Interest | 54 | 53 | 46 | 83 | 87 | 64 | 79 | 103 | 148 | 181 | 190 |
| Depreciation | 59 | 66 | 74 | 185 | 206 | 249 | 263 | 260 | 327 | 434 | 451 |
| 337 | 358 | 436 | 394 | 432 | 647 | 615 | 630 | 741 | 850 | 856 | |
| Tax % | 17 | 9 | 13 | 14 | 16 | 17 | 16 | 18 | 20 | 21 | 22 |
| Net Profit | 279 | 327 | 378 | 340 | 362 | 537 | 514 | 515 | 594 | 674 | 671 |
| EPS | 4 | 5 | 5 | 5 | 5 | 8 | 7 | 7 | 9 | 10 | — |
| Dividend Payout % | 0 | 32 | 37 | 51 | 58 | 45 | 47 | 47 | 47 | 57 | — |
| Minority Interest | 0 | -0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 4 | 5 | 5 | 5 | 5 | 8 | 7 | 7 | 9 | 10 | — |
| Minority Interest | 0 | -0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | -0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 4 | 5 | 5 | 5 | 5 | 8 | 7 | 7 | 9 | 10 | — |
Mar 2017
- 3,556
- 3,113
- Operating Profit
- 450
- OPM %
- 13
- Other Income
- 7
- Interest
- 54
- Depreciation
- 59
- 337
- Tax %
- 17
- Net Profit
- 279
- EPS
- 4
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2018
- 3,535
- 3,066
- Operating Profit
- 477
- OPM %
- 13
- Other Income
- 8
- Interest
- 53
- Depreciation
- 66
- 358
- Tax %
- 9
- Net Profit
- 327
- EPS
- 5
- Dividend Payout %
- 32
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2019
- 3,826
- 3,278
- Operating Profit
- 556
- OPM %
- 15
- Other Income
- 8
- Interest
- 46
- Depreciation
- 74
- 436
- Tax %
- 13
- Net Profit
- 378
- EPS
- 5
- Dividend Payout %
- 37
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2020
- 4,099
- 3,445
- Operating Profit
- 662
- OPM %
- 16
- Other Income
- 9
- Interest
- 83
- Depreciation
- 185
- 394
- Tax %
- 14
- Net Profit
- 340
- EPS
- 5
- Dividend Payout %
- 51
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2021
- 5,078
- 4,241
- Operating Profit
- 840
- OPM %
- 17
- Other Income
- 4
- Interest
- 87
- Depreciation
- 206
- 432
- Tax %
- 16
- Net Profit
- 362
- EPS
- 5
- Dividend Payout %
- 58
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2022
- 5,921
- 4,964
- Operating Profit
- 960
- OPM %
- 16
- Other Income
- 4
- Interest
- 64
- Depreciation
- 249
- 647
- Tax %
- 17
- Net Profit
- 537
- EPS
- 8
- Dividend Payout %
- 45
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- 8
- Minority Interest
- 1
- Share of Associates
- 0
- Adjusted EPS
- 8
Mar 2023
- 6,022
- 5,199
- Operating Profit
- 957
- OPM %
- 16
- Other Income
- 134
- Interest
- 79
- Depreciation
- 263
- 615
- Tax %
- 16
- Net Profit
- 514
- EPS
- 7
- Dividend Payout %
- 47
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2024
- 6,336
- 5,385
- Operating Profit
- 993
- OPM %
- 16
- Other Income
- 42
- Interest
- 103
- Depreciation
- 260
- 630
- Tax %
- 18
- Net Profit
- 515
- EPS
- 7
- Dividend Payout %
- 47
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2025
- 7,980
- 6,784
- Operating Profit
- 1,207
- OPM %
- 15
- Other Income
- 10
- Interest
- 148
- Depreciation
- 327
- 741
- Tax %
- 20
- Net Profit
- 594
- EPS
- 9
- Dividend Payout %
- 47
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
Mar 2026
- 9,556
- 8,004
- Operating Profit
- 1,564
- OPM %
- 16
- Other Income
- 11
- Interest
- 181
- Depreciation
- 434
- 850
- Tax %
- 21
- Net Profit
- 674
- EPS
- 10
- Dividend Payout %
- 57
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 10
TTM
- 10,120
- 8,570
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 190
- Depreciation
- 451
- 856
- Tax %
- 22
- Net Profit
- 671
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- -0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 12%
- 5 Years:
- 13%
- 3 Years:
- 17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 10%
- 5 Years:
- 13%
- 3 Years:
- 9%
STOCK PRICE CAGR
- 10 Years:
- 20%
- 5 Years:
- 7%
- 3 Years:
- 21%
- 1 Year:
- -27%
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 16%
- 3 Years:
- 16%
- Last Year:
- 16%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 681 | 687 | 691 | 694 | 696 | 697 | 697 | 697 | 697 | 697 |
| 1,334 | 1,653 | 2,017 | 2,060 | 2,075 | 2,285 | 2,605 | 2,956 | 3,298 | 3,558 | |
| 598 | 647 | 540 | 834 | 437 | 736 | 527 | 667 | 1,191 | 1,558 | |
| Trade Payables | 99 | 94 | 90 | 95 | 279 | 178 | 231 | 306 | 398 | 558 |
| 476 | 100 | 106 | 653 | 1,074 | 1,531 | 1,309 | 1,157 | 2,065 | 2,558 | |
| Total Liabilities | 3,190 | 3,180 | 3,444 | 4,336 | 4,561 | 5,427 | 5,370 | 5,784 | 7,649 | 8,929 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 2,068 | 2,080 | 2,223 | 2,871 | 2,998 | 3,744 | 3,716 | 3,853 | 4,994 | 5,567 | |
| Capital Work in Progress | 4 | 0 | 2 | 0 | 0 | 0 | 3 | 17 | 49 | 30 |
| 163 | 34 | 134 | 12 | 94 | 130 | 71 | 42 | 73 | 116 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,161 | 1,686 | 2,079 | |
| Cash & Bank | 39 | 123 | 47 | 191 | 137 | 90 | 156 | 188 | 167 | 269 |
| 916 | 943 | 1,038 | 1,262 | 1,331 | 1,463 | 1,423 | 523 | 680 | 868 | |
| Total Assets | 3,190 | 3,180 | 3,444 | 4,336 | 4,561 | 5,427 | 5,370 | 5,784 | 7,649 | 8,929 |
| Total Debt | 965 | 672 | 558 | 843 | 604 | 1,010 | 827 | 805 | 1,533 | 1,937 |
| Net Working Capital | -128 | -193 | -44 | -227 | -170 | -113 | -151 | -82 | -190 | -681 |
| Contingent Liabilities | 139 | 112 | 116 | 116 | 116 | 202 | 209 | 213 | 221 | 238 |
| Book Value per Share | 29.59 | 34.08 | 39.19 | 39.68 | 39.81 | 42.78 | 47.37 | 52.42 | 57.32 | 61.05 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 965 | 672 | 558 | 843 | 604 | 1,010 | 827 | 805 | 1,533 | 1,937 |
| Net Working Capital | -128 | -193 | -44 | -227 | -170 | -113 | -151 | -82 | -190 | -681 |
| Contingent Liabilities | 139 | 112 | 116 | 116 | 116 | 202 | 209 | 213 | 221 | 238 |
| Book Value per Share | 29.59 | 34.08 | 39.19 | 39.68 | 39.81 | 42.78 | 47.37 | 52.42 | 57.32 | 61.05 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2017
- Equity Capital
- 681
- 1,334
- 598
- Trade Payables
- 99
- 476
- Total Liabilities
- 3,190
- 2,068
- Capital Work in Progress
- 4
- 163
- 0
- Cash & Bank
- 39
- 916
- Total Assets
- 3,190
- Total Debt
- 965
- Net Working Capital
- -128
- Contingent Liabilities
- 139
- Book Value per Share
- 29.59
- Face Value
- 10.00
- Total Debt
- 965
- Net Working Capital
- -128
- Contingent Liabilities
- 139
- Book Value per Share
- 29.59
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 687
- 1,653
- 647
- Trade Payables
- 94
- 100
- Total Liabilities
- 3,180
- 2,080
- Capital Work in Progress
- 0
- 34
- 0
- Cash & Bank
- 123
- 943
- Total Assets
- 3,180
- Total Debt
- 672
- Net Working Capital
- -193
- Contingent Liabilities
- 112
- Book Value per Share
- 34.08
- Face Value
- 10.00
- Total Debt
- 672
- Net Working Capital
- -193
- Contingent Liabilities
- 112
- Book Value per Share
- 34.08
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 691
- 2,017
- 540
- Trade Payables
- 90
- 106
- Total Liabilities
- 3,444
- 2,223
- Capital Work in Progress
- 2
- 134
- 0
- Cash & Bank
- 47
- 1,038
- Total Assets
- 3,444
- Total Debt
- 558
- Net Working Capital
- -44
- Contingent Liabilities
- 116
- Book Value per Share
- 39.19
- Face Value
- 10.00
- Total Debt
- 558
- Net Working Capital
- -44
- Contingent Liabilities
- 116
- Book Value per Share
- 39.19
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 694
- 2,060
- 834
- Trade Payables
- 95
- 653
- Total Liabilities
- 4,336
- 2,871
- Capital Work in Progress
- 0
- 12
- 0
- Cash & Bank
- 191
- 1,262
- Total Assets
- 4,336
- Total Debt
- 843
- Net Working Capital
- -227
- Contingent Liabilities
- 116
- Book Value per Share
- 39.68
- Face Value
- 10.00
- Total Debt
- 843
- Net Working Capital
- -227
- Contingent Liabilities
- 116
- Book Value per Share
- 39.68
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 696
- 2,075
- 437
- Trade Payables
- 279
- 1,074
- Total Liabilities
- 4,561
- 2,998
- Capital Work in Progress
- 0
- 94
- 0
- Cash & Bank
- 137
- 1,331
- Total Assets
- 4,561
- Total Debt
- 604
- Net Working Capital
- -170
- Contingent Liabilities
- 116
- Book Value per Share
- 39.81
- Face Value
- 10.00
- Total Debt
- 604
- Net Working Capital
- -170
- Contingent Liabilities
- 116
- Book Value per Share
- 39.81
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 697
- 2,285
- 736
- Trade Payables
- 178
- 1,531
- Total Liabilities
- 5,427
- 3,744
- Capital Work in Progress
- 0
- 130
- 0
- Cash & Bank
- 90
- 1,463
- Total Assets
- 5,427
- Total Debt
- 1,010
- Net Working Capital
- -113
- Contingent Liabilities
- 202
- Book Value per Share
- 42.78
- Face Value
- 10.00
- Total Debt
- 1,010
- Net Working Capital
- -113
- Contingent Liabilities
- 202
- Book Value per Share
- 42.78
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 697
- 2,605
- 527
- Trade Payables
- 231
- 1,309
- Total Liabilities
- 5,370
- 3,716
- Capital Work in Progress
- 3
- 71
- 0
- Cash & Bank
- 156
- 1,423
- Total Assets
- 5,370
- Total Debt
- 827
- Net Working Capital
- -151
- Contingent Liabilities
- 209
- Book Value per Share
- 47.37
- Face Value
- 10.00
- Total Debt
- 827
- Net Working Capital
- -151
- Contingent Liabilities
- 209
- Book Value per Share
- 47.37
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 697
- 2,956
- 667
- Trade Payables
- 306
- 1,157
- Total Liabilities
- 5,784
- 3,853
- Capital Work in Progress
- 17
- 42
- 1,161
- Cash & Bank
- 188
- 523
- Total Assets
- 5,784
- Total Debt
- 805
- Net Working Capital
- -82
- Contingent Liabilities
- 213
- Book Value per Share
- 52.42
- Face Value
- 10.00
- Total Debt
- 805
- Net Working Capital
- -82
- Contingent Liabilities
- 213
- Book Value per Share
- 52.42
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 697
- 3,298
- 1,191
- Trade Payables
- 398
- 2,065
- Total Liabilities
- 7,649
- 4,994
- Capital Work in Progress
- 49
- 73
- 1,686
- Cash & Bank
- 167
- 680
- Total Assets
- 7,649
- Total Debt
- 1,533
- Net Working Capital
- -190
- Contingent Liabilities
- 221
- Book Value per Share
- 57.32
- Face Value
- 10.00
- Total Debt
- 1,533
- Net Working Capital
- -190
- Contingent Liabilities
- 221
- Book Value per Share
- 57.32
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 697
- 3,558
- 1,558
- Trade Payables
- 558
- 2,558
- Total Liabilities
- 8,929
- 5,567
- Capital Work in Progress
- 30
- 116
- 2,079
- Cash & Bank
- 269
- 868
- Total Assets
- 8,929
- Total Debt
- 1,937
- Net Working Capital
- -681
- Contingent Liabilities
- 238
- Book Value per Share
- 61.05
- Face Value
- 10.00
- Total Debt
- 1,937
- Net Working Capital
- -681
- Contingent Liabilities
- 238
- Book Value per Share
- 61.05
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 200 | 315 | 400 | 410 | 976 | 704 | 795 | 644 | 701 | 1,214 | |
| Cash from Investing | -231 | 92 | -204 | 14 | -348 | -595 | 16 | -58 | -746 | -452 |
| Cash from Financing | 4 | -327 | -273 | -277 | -689 | -158 | -743 | -563 | 23 | -667 |
| -28 | 80 | -77 | 148 | -61 | -49 | 68 | 23 | -22 | 95 | |
| Free Cash Flow | 38 | 315 | 323 | -316 | 788 | 89 | 774 | 271 | -732 | 178 |
| OCF / Net Profit | 0.72 | 0.96 | 1.06 | 1.21 | 2.70 | 1.31 | 1.55 | 1.25 | 1.18 | 1.80 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,148 | 1,200 | 1,659 | 1,607 | 1,192 | 581 |
| OCF / Net Profit | 0.72 | 0.96 | 1.06 | 1.21 | 2.70 | 1.31 | 1.55 | 1.25 | 1.18 | 1.80 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,148 | 1,200 | 1,659 | 1,607 | 1,192 | 581 |
Mar 2017
- 200
- Cash from Investing
- -231
- Cash from Financing
- 4
- -28
- Free Cash Flow
- 38
- OCF / Net Profit
- 0.72
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.72
- Cumulative 5-Year FCF
- 0
Mar 2018
- 315
- Cash from Investing
- 92
- Cash from Financing
- -327
- 80
- Free Cash Flow
- 315
- OCF / Net Profit
- 0.96
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.96
- Cumulative 5-Year FCF
- 0
Mar 2019
- 400
- Cash from Investing
- -204
- Cash from Financing
- -273
- -77
- Free Cash Flow
- 323
- OCF / Net Profit
- 1.06
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.06
- Cumulative 5-Year FCF
- 0
Mar 2020
- 410
- Cash from Investing
- 14
- Cash from Financing
- -277
- 148
- Free Cash Flow
- -316
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 0
Mar 2021
- 976
- Cash from Investing
- -348
- Cash from Financing
- -689
- -61
- Free Cash Flow
- 788
- OCF / Net Profit
- 2.70
- Cumulative 5-Year FCF
- 1,148
- OCF / Net Profit
- 2.70
- Cumulative 5-Year FCF
- 1,148
Mar 2022
- 704
- Cash from Investing
- -595
- Cash from Financing
- -158
- -49
- Free Cash Flow
- 89
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 1,200
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 1,200
Mar 2023
- 795
- Cash from Investing
- 16
- Cash from Financing
- -743
- 68
- Free Cash Flow
- 774
- OCF / Net Profit
- 1.55
- Cumulative 5-Year FCF
- 1,659
- OCF / Net Profit
- 1.55
- Cumulative 5-Year FCF
- 1,659
Mar 2024
- 644
- Cash from Investing
- -58
- Cash from Financing
- -563
- 23
- Free Cash Flow
- 271
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 1,607
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 1,607
Mar 2025
- 701
- Cash from Investing
- -746
- Cash from Financing
- 23
- -22
- Free Cash Flow
- -732
- OCF / Net Profit
- 1.18
- Cumulative 5-Year FCF
- 1,192
- OCF / Net Profit
- 1.18
- Cumulative 5-Year FCF
- 1,192
Mar 2026
- 1,214
- Cash from Investing
- -452
- Cash from Financing
- -667
- 95
- Free Cash Flow
- 178
- OCF / Net Profit
- 1.80
- Cumulative 5-Year FCF
- 581
- OCF / Net Profit
- 1.80
- Cumulative 5-Year FCF
- 581
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 4.10 | 4.76 | 5.47 | 4.90 | 5.20 | 7.71 | 7.37 | 7.38 | 8.53 | 9.68 |
| Book Value (₹) | 29.59 | 34.08 | 39.19 | 39.68 | 39.81 | 42.78 | 47.37 | 52.42 | 57.32 | 61.05 |
| Dividend per Share (₹) | 0.00 | 1.50 | 2.00 | 2.50 | 3.00 | 3.50 | 3.50 | 3.50 | 4.00 | 5.50 |
| Cash EPS (₹) | 4.96 | 5.72 | 6.54 | 7.57 | 8.16 | 11.28 | 11.15 | 11.12 | 13.22 | 15.90 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 12.65% | 13.49% | 14.33% | 15.94% | 16.47% | 16.22% | 15.90% | 15.01% | 14.99% | 16.25% |
| Net Margin % | 7.85% | 9.24% | 9.87% | 8.29% | 7.12% | 9.06% | 8.53% | 8.12% | 7.45% | 7.06% |
| ROE % | 14.76% | 15.00% | 14.97% | 12.44% | 13.09% | 18.65% | 16.35% | 14.80% | 15.54% | 16.35% |
| ROCE % | 13.81% | 13.66% | 15.29% | 13.86% | 14.80% | 19.10% | 16.86% | 16.85% | 17.53% | 17.26% |
| 9.28% | 10.25% | 11.41% | 8.73% | 8.13% | 10.74% | 9.52% | 9.23% | 8.85% | 8.14% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 31 | 35 | 37 | 42 | 50 | 56 | 61 | 63 | 65 | 72 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 31 | 35 | 37 | 42 | 50 | 56 | 61 | 63 | 65 | 72 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.48x | 0.29x | 0.21x | 0.31x | 0.22x | 0.34x | 0.25x | 0.22x | 0.38x | 0.46x |
| Interest Coverage (x) | 7.26x | 7.77x | 10.49x | 5.75x | 5.95x | 11.12x | 8.79x | 7.09x | 6.01x | 5.68x |
| 0.86x | 0.80x | 0.95x | 0.83x | 0.88x | 0.93x | 0.90x | 0.95x | 0.92x | 0.80x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 10.52% | -0.57% | 8.23% | 7.12% | 23.90% | 16.60% | 1.71% | 5.21% | 25.95% | 19.75% |
| Operating Profit Growth % | 10.25% | 6.03% | 16.67% | 19.08% | 26.86% | 14.28% | -0.32% | 3.75% | 21.49% | 29.57% |
| Net Profit Growth % | 7.02% | 16.95% | 15.68% | -10.08% | 6.47% | 48.35% | -4.25% | 0.20% | 15.49% | 13.45% |
| 0.00% | 0.00% | 14.94% | -10.44% | 6.13% | 0.00% | 0.00% | 0.20% | 15.49% | 13.45% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 8.61x | 5.62x | 21.92x | 0.00x | 0.00x | 26.72x | 39.95x | 21.11x |
| P/B (x) | 0.00x | 0.00x | 1.20x | 0.69x | 2.86x | 0.00x | 0.00x | 3.76x | 5.95x | 3.35x |
| Dividend Yield % | 0.00% | 0.00% | 4.25% | 9.09% | 2.63% | 0.00% | 0.00% | 1.77% | 1.17% | 2.69% |
| 0.00x | 0.00x | 6.76x | 3.87x | 9.99x | 0.00x | 0.00x | 14.47x | 20.81x | 10.17x |
Mar 2017
- EPS (₹)
- 4.10
- Book Value (₹)
- 29.59
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 4.96
- Operating Margin %
- 12.65%
- Net Margin %
- 7.85%
- ROE %
- 14.76%
- ROCE %
- 13.81%
- 9.28%
- Debtor Days
- 31
- Inventory Days
- 0
- Payable Days
- 0
- 31
- Debt to Equity (x)
- 0.48x
- Interest Coverage (x)
- 7.26x
- 0.86x
- Revenue Growth %
- 10.52%
- Operating Profit Growth %
- 10.25%
- Net Profit Growth %
- 7.02%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 4.76
- Book Value (₹)
- 34.08
- Dividend per Share (₹)
- 1.50
- Cash EPS (₹)
- 5.72
- Operating Margin %
- 13.49%
- Net Margin %
- 9.24%
- ROE %
- 15.00%
- ROCE %
- 13.66%
- 10.25%
- Debtor Days
- 35
- Inventory Days
- 0
- Payable Days
- 0
- 35
- Debt to Equity (x)
- 0.29x
- Interest Coverage (x)
- 7.77x
- 0.80x
- Revenue Growth %
- -0.57%
- Operating Profit Growth %
- 6.03%
- Net Profit Growth %
- 16.95%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 5.47
- Book Value (₹)
- 39.19
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 6.54
- Operating Margin %
- 14.33%
- Net Margin %
- 9.87%
- ROE %
- 14.97%
- ROCE %
- 15.29%
- 11.41%
- Debtor Days
- 37
- Inventory Days
- 0
- Payable Days
- 0
- 37
- Debt to Equity (x)
- 0.21x
- Interest Coverage (x)
- 10.49x
- 0.95x
- Revenue Growth %
- 8.23%
- Operating Profit Growth %
- 16.67%
- Net Profit Growth %
- 15.68%
- 14.94%
- P/E (x)
- 8.61x
- P/B (x)
- 1.20x
- Dividend Yield %
- 4.25%
- 6.76x
Mar 2020
- EPS (₹)
- 4.90
- Book Value (₹)
- 39.68
- Dividend per Share (₹)
- 2.50
- Cash EPS (₹)
- 7.57
- Operating Margin %
- 15.94%
- Net Margin %
- 8.29%
- ROE %
- 12.44%
- ROCE %
- 13.86%
- 8.73%
- Debtor Days
- 42
- Inventory Days
- 0
- Payable Days
- 0
- 42
- Debt to Equity (x)
- 0.31x
- Interest Coverage (x)
- 5.75x
- 0.83x
- Revenue Growth %
- 7.12%
- Operating Profit Growth %
- 19.08%
- Net Profit Growth %
- -10.08%
- -10.44%
- P/E (x)
- 5.62x
- P/B (x)
- 0.69x
- Dividend Yield %
- 9.09%
- 3.87x
Mar 2021
- EPS (₹)
- 5.20
- Book Value (₹)
- 39.81
- Dividend per Share (₹)
- 3.00
- Cash EPS (₹)
- 8.16
- Operating Margin %
- 16.47%
- Net Margin %
- 7.12%
- ROE %
- 13.09%
- ROCE %
- 14.80%
- 8.13%
- Debtor Days
- 50
- Inventory Days
- 0
- Payable Days
- 0
- 50
- Debt to Equity (x)
- 0.22x
- Interest Coverage (x)
- 5.95x
- 0.88x
- Revenue Growth %
- 23.90%
- Operating Profit Growth %
- 26.86%
- Net Profit Growth %
- 6.47%
- 6.13%
- P/E (x)
- 21.92x
- P/B (x)
- 2.86x
- Dividend Yield %
- 2.63%
- 9.99x
Mar 2022
- EPS (₹)
- 7.71
- Book Value (₹)
- 42.78
- Dividend per Share (₹)
- 3.50
- Cash EPS (₹)
- 11.28
- Operating Margin %
- 16.22%
- Net Margin %
- 9.06%
- ROE %
- 18.65%
- ROCE %
- 19.10%
- 10.74%
- Debtor Days
- 56
- Inventory Days
- 0
- Payable Days
- 0
- 56
- Debt to Equity (x)
- 0.34x
- Interest Coverage (x)
- 11.12x
- 0.93x
- Revenue Growth %
- 16.60%
- Operating Profit Growth %
- 14.28%
- Net Profit Growth %
- 48.35%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 7.37
- Book Value (₹)
- 47.37
- Dividend per Share (₹)
- 3.50
- Cash EPS (₹)
- 11.15
- Operating Margin %
- 15.90%
- Net Margin %
- 8.53%
- ROE %
- 16.35%
- ROCE %
- 16.86%
- 9.52%
- Debtor Days
- 61
- Inventory Days
- 0
- Payable Days
- 0
- 61
- Debt to Equity (x)
- 0.25x
- Interest Coverage (x)
- 8.79x
- 0.90x
- Revenue Growth %
- 1.71%
- Operating Profit Growth %
- -0.32%
- Net Profit Growth %
- -4.25%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 7.38
- Book Value (₹)
- 52.42
- Dividend per Share (₹)
- 3.50
- Cash EPS (₹)
- 11.12
- Operating Margin %
- 15.01%
- Net Margin %
- 8.12%
- ROE %
- 14.80%
- ROCE %
- 16.85%
- 9.23%
- Debtor Days
- 63
- Inventory Days
- 0
- Payable Days
- 0
- 63
- Debt to Equity (x)
- 0.22x
- Interest Coverage (x)
- 7.09x
- 0.95x
- Revenue Growth %
- 5.21%
- Operating Profit Growth %
- 3.75%
- Net Profit Growth %
- 0.20%
- 0.20%
- P/E (x)
- 26.72x
- P/B (x)
- 3.76x
- Dividend Yield %
- 1.77%
- 14.47x
Mar 2025
- EPS (₹)
- 8.53
- Book Value (₹)
- 57.32
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 13.22
- Operating Margin %
- 14.99%
- Net Margin %
- 7.45%
- ROE %
- 15.54%
- ROCE %
- 17.53%
- 8.85%
- Debtor Days
- 65
- Inventory Days
- 0
- Payable Days
- 0
- 65
- Debt to Equity (x)
- 0.38x
- Interest Coverage (x)
- 6.01x
- 0.92x
- Revenue Growth %
- 25.95%
- Operating Profit Growth %
- 21.49%
- Net Profit Growth %
- 15.49%
- 15.49%
- P/E (x)
- 39.95x
- P/B (x)
- 5.95x
- Dividend Yield %
- 1.17%
- 20.81x
Mar 2026
- EPS (₹)
- 9.68
- Book Value (₹)
- 61.05
- Dividend per Share (₹)
- 5.50
- Cash EPS (₹)
- 15.90
- Operating Margin %
- 16.25%
- Net Margin %
- 7.06%
- ROE %
- 16.35%
- ROCE %
- 17.26%
- 8.14%
- Debtor Days
- 72
- Inventory Days
- 0
- Payable Days
- 0
- 72
- Debt to Equity (x)
- 0.46x
- Interest Coverage (x)
- 5.68x
- 0.80x
- Revenue Growth %
- 19.75%
- Operating Profit Growth %
- 29.57%
- Net Profit Growth %
- 13.45%
- 13.45%
- P/E (x)
- 21.11x
- P/B (x)
- 3.35x
- Dividend Yield %
- 2.69%
- 10.17x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-20 - Firstsource Solutions Limited has informed the Exchange about Schedule of meet
- ESOP/ESOS/ESPS
2026-08-19 - Firstsource Solutions Limited has informed the Exchange regarding Allotment of 127883 Shares.
Annual Reports
Credit Ratings
- Credit Rating
2025-12-10 - Firstsource Solutions Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
May 2026
Feb 2026