Firstsource Solutions Ltd.
•₹ 276.051.4%
2026-08-21
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Communication, media & Technology: 48.7% • Banking & Financial Services: 31.8% • Healthcare: 21.9% • Diverse Industries: 1.0% • Other Operating Income: -3.4%
PROS
- Company has a healthy return on capital (ROCE) of 20.4%
- Latest quarter profit grew 52.9% YoY, showing strong momentum
- Company has delivered good sales growth of 16.8% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.26x)
- Working capital cycle has improved - days down from 55 to 28
- Company comfortably covers its interest (9.6x coverage)
CONS
- Contingent liabilities are large at 268.8% of net worth
- Company has delivered a poor profit growth of 3.3% over past five years
- Recurring exceptional / one-off items are inflating headline profit
- Stock is trading at 6.6x its book value
* 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
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 334 | 364 | 436 | 465 | 506 | 552 | 614 | 640 | 693 | 692 | 781 | 816 | 879 | |
| 247 | 263 | 307 | 332 | 371 | 402 | 466 | 460 | 470 | 498 | 524 | 524 | 627 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 8 | 9 | 10 | 9 | 10 | 8 | 11 | 11 | 12 | 10 | 11 | 9 | 15 |
| Interest | 3 | 4 | 5 | 5 | 8 | 10 | 11 | 13 | 14 | 15 | 17 | 17 | 17 |
| Depreciation | 20 | 22 | 24 | 26 | 26 | 26 | 34 | 40 | 44 | 54 | 53 | 54 | 55 |
| 75 | 85 | 109 | 111 | 118 | 112 | 178 | 125 | 166 | 118 | 71 | 188 | 267 | |
| Tax % | 13.25% | 14.95% | 18.17% | 15.99% | 19.65% | 18.20% | 16.89% | 26.41% | 18.74% | 16.76% | 17.68% | 25.37% | 22.42% |
| Net Profit | 65 | 72 | 90 | 93 | 95 | 92 | 148 | 92 | 135 | 98 | 59 | 140 | 207 |
| 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 1 | 1 | 2 | 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
- 334
- 247
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 3
- Depreciation
- 20
- 75
- Tax %
- 13.25%
- Net Profit
- 65
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 364
- 263
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 4
- Depreciation
- 22
- 85
- Tax %
- 14.95%
- Net Profit
- 72
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 436
- 307
- Operating Profit
- —
- OPM %
- —
- Other Income
- 10
- Interest
- 5
- Depreciation
- 24
- 109
- Tax %
- 18.17%
- Net Profit
- 90
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 465
- 332
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 5
- Depreciation
- 26
- 111
- Tax %
- 15.99%
- Net Profit
- 93
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 506
- 371
- Operating Profit
- —
- OPM %
- —
- Other Income
- 10
- Interest
- 8
- Depreciation
- 26
- 118
- Tax %
- 19.65%
- Net Profit
- 95
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 552
- 402
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 10
- Depreciation
- 26
- 112
- Tax %
- 18.20%
- Net Profit
- 92
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 614
- 466
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 11
- Depreciation
- 34
- 178
- Tax %
- 16.89%
- Net Profit
- 148
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 640
- 460
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 13
- Depreciation
- 40
- 125
- Tax %
- 26.41%
- Net Profit
- 92
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 693
- 470
- Operating Profit
- —
- OPM %
- —
- Other Income
- 12
- Interest
- 14
- Depreciation
- 44
- 166
- Tax %
- 18.74%
- Net Profit
- 135
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 692
- 498
- Operating Profit
- —
- OPM %
- —
- Other Income
- 10
- Interest
- 15
- Depreciation
- 54
- 118
- Tax %
- 16.76%
- Net Profit
- 98
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 781
- 524
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 17
- Depreciation
- 53
- 71
- Tax %
- 17.68%
- Net Profit
- 59
- 1
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 816
- 524
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 17
- Depreciation
- 54
- 188
- Tax %
- 25.37%
- Net Profit
- 140
- 2
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 879
- 627
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 17
- Depreciation
- 55
- 267
- Tax %
- 22.42%
- Net Profit
- 207
- 0
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 697
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 940 | 861 | 768 | 940 | 1,325 | 1,592 | 1,376 | 1,601 | 2,307 | 2,883 | 3,167 | |
| 713 | 628 | 582 | 672 | 835 | 1,063 | 1,000 | 1,151 | 1,703 | 2,024 | 2,173 | |
| Operating Profit | 245 | 247 | 249 | 298 | 520 | 562 | 415 | 489 | 647 | 909 | — |
| OPM % | 26 | 29 | 32 | 32 | 39 | 35 | 30 | 31 | 28 | 32 | — |
| Other Income | 17 | 14 | 63 | 31 | 31 | 33 | 39 | 39 | 43 | 50 | 45 |
| Interest | 7 | 7 | 2 | 16 | 15 | 20 | 15 | 17 | 43 | 63 | 65 |
| Depreciation | 19 | 22 | 24 | 71 | 80 | 88 | 89 | 92 | 126 | 205 | 216 |
| 219 | 219 | 223 | 212 | 425 | 453 | 311 | 380 | 534 | 543 | 643 | |
| Tax % | 14 | 12 | 11 | 14 | 14 | 15 | 20 | 16 | 20 | 20 | 22 |
| Net Profit | 188 | 192 | 199 | 182 | 367 | 388 | 248 | 320 | 427 | 432 | 504 |
| EPS | 3 | 3 | 3 | 3 | 5 | 5 | 4 | 5 | 6 | 6 | — |
| Dividend Payout % | 0 | 54 | 69 | 95 | 57 | 63 | 98 | 76 | 65 | 89 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 3 | 3 | 3 | 3 | 5 | 6 | 4 | 5 | 6 | 6 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 3 | 3 | 3 | 3 | 5 | 6 | 4 | 5 | 6 | 6 | — |
Mar 2017
- 940
- 713
- Operating Profit
- 245
- OPM %
- 26
- Other Income
- 17
- Interest
- 7
- Depreciation
- 19
- 219
- Tax %
- 14
- Net Profit
- 188
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2018
- 861
- 628
- Operating Profit
- 247
- OPM %
- 29
- Other Income
- 14
- Interest
- 7
- Depreciation
- 22
- 219
- Tax %
- 12
- Net Profit
- 192
- EPS
- 3
- Dividend Payout %
- 54
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2019
- 768
- 582
- Operating Profit
- 249
- OPM %
- 32
- Other Income
- 63
- Interest
- 2
- Depreciation
- 24
- 223
- Tax %
- 11
- Net Profit
- 199
- EPS
- 3
- Dividend Payout %
- 69
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2020
- 940
- 672
- Operating Profit
- 298
- OPM %
- 32
- Other Income
- 31
- Interest
- 16
- Depreciation
- 71
- 212
- Tax %
- 14
- Net Profit
- 182
- EPS
- 3
- Dividend Payout %
- 95
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2021
- 1,325
- 835
- Operating Profit
- 520
- OPM %
- 39
- Other Income
- 31
- Interest
- 15
- Depreciation
- 80
- 425
- Tax %
- 14
- Net Profit
- 367
- EPS
- 5
- Dividend Payout %
- 57
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2022
- 1,592
- 1,063
- Operating Profit
- 562
- OPM %
- 35
- Other Income
- 33
- Interest
- 20
- Depreciation
- 88
- 453
- Tax %
- 15
- Net Profit
- 388
- EPS
- 5
- Dividend Payout %
- 63
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
Mar 2023
- 1,376
- 1,000
- Operating Profit
- 415
- OPM %
- 30
- Other Income
- 39
- Interest
- 15
- Depreciation
- 89
- 311
- Tax %
- 20
- Net Profit
- 248
- EPS
- 4
- Dividend Payout %
- 98
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2024
- 1,601
- 1,151
- Operating Profit
- 489
- OPM %
- 31
- Other Income
- 39
- Interest
- 17
- Depreciation
- 92
- 380
- Tax %
- 16
- Net Profit
- 320
- EPS
- 5
- Dividend Payout %
- 76
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2025
- 2,307
- 1,703
- Operating Profit
- 647
- OPM %
- 28
- Other Income
- 43
- Interest
- 43
- Depreciation
- 126
- 534
- Tax %
- 20
- Net Profit
- 427
- EPS
- 6
- Dividend Payout %
- 65
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
Mar 2026
- 2,883
- 2,024
- Operating Profit
- 909
- OPM %
- 32
- Other Income
- 50
- Interest
- 63
- Depreciation
- 205
- 543
- Tax %
- 20
- Net Profit
- 432
- EPS
- 6
- Dividend Payout %
- 89
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
TTM
- 3,167
- 2,173
- Operating Profit
- —
- OPM %
- —
- Other Income
- 45
- Interest
- 65
- Depreciation
- 216
- 643
- Tax %
- 22
- Net Profit
- 504
- 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:
- 13%
- 5 Years:
- 17%
- 3 Years:
- 28%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 11%
- 5 Years:
- 3%
- 3 Years:
- 20%
STOCK PRICE CAGR
- 10 Years:
- 20%
- 5 Years:
- 7%
- 3 Years:
- 21%
- 1 Year:
- -27%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 16%
- 3 Years:
- 17%
- Last Year:
- 19%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 1,306 | 1,436 | 1,576 | 1,359 | 1,448 | 1,571 | 1,542 | 1,667 | 1,776 | 1,469 | |
| 112 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 246 | 313 | |
| Trade Payables | 34 | 28 | 29 | 31 | 39 | 47 | 53 | 90 | 113 | 111 |
| -24 | -118 | -153 | 34 | 178 | 154 | 47 | 219 | 689 | 1,323 | |
| Total Liabilities | 2,108 | 2,032 | 2,142 | 2,118 | 2,361 | 2,469 | 2,339 | 2,673 | 3,522 | 3,912 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 55 | 56 | 72 | 249 | 291 | 313 | 208 | 406 | 663 | 739 | |
| Capital Work in Progress | 2 | 0 | 0 | 0 | 0 | 0 | 3 | 14 | 42 | 29 |
| 1,345 | 1,219 | 1,316 | 1,199 | 1,287 | 1,336 | 1,288 | 1,265 | 1,633 | 1,632 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 729 | 895 | 1,199 | |
| Cash & Bank | 16 | 14 | 13 | 46 | 16 | 26 | 21 | 52 | 29 | 45 |
| 691 | 743 | 742 | 624 | 768 | 794 | 817 | 207 | 261 | 267 | |
| Total Assets | 2,108 | 2,032 | 2,142 | 2,118 | 2,361 | 2,469 | 2,339 | 2,673 | 3,522 | 3,912 |
| Total Debt | 186 | 16 | 11 | 6 | 16 | 12 | 8 | 0 | 246 | 313 |
| Net Working Capital | 526 | 584 | 633 | 385 | 452 | 597 | 600 | 635 | 345 | 218 |
| Contingent Liabilities | 2,965 | 2,243 | 1,997 | 2,711 | 3,096 | 3,867 | 3,356 | 3,205 | 5,643 | 6,169 |
| Book Value per Share | 29.17 | 30.92 | 32.80 | 29.59 | 30.80 | 32.55 | 32.13 | 33.91 | 35.48 | 31.08 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 186 | 16 | 11 | 6 | 16 | 12 | 8 | 0 | 246 | 313 |
| Net Working Capital | 526 | 584 | 633 | 385 | 452 | 597 | 600 | 635 | 345 | 218 |
| Contingent Liabilities | 2,965 | 2,243 | 1,997 | 2,711 | 3,096 | 3,867 | 3,356 | 3,205 | 5,643 | 6,169 |
| Book Value per Share | 29.17 | 30.92 | 32.80 | 29.59 | 30.80 | 32.55 | 32.13 | 33.91 | 35.48 | 31.08 |
| 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
- 1,306
- 112
- Trade Payables
- 34
- -24
- Total Liabilities
- 2,108
- 55
- Capital Work in Progress
- 2
- 1,345
- 0
- Cash & Bank
- 16
- 691
- Total Assets
- 2,108
- Total Debt
- 186
- Net Working Capital
- 526
- Contingent Liabilities
- 2,965
- Book Value per Share
- 29.17
- Face Value
- 10.00
- Total Debt
- 186
- Net Working Capital
- 526
- Contingent Liabilities
- 2,965
- Book Value per Share
- 29.17
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 687
- 1,436
- 0
- Trade Payables
- 28
- -118
- Total Liabilities
- 2,032
- 56
- Capital Work in Progress
- 0
- 1,219
- 0
- Cash & Bank
- 14
- 743
- Total Assets
- 2,032
- Total Debt
- 16
- Net Working Capital
- 584
- Contingent Liabilities
- 2,243
- Book Value per Share
- 30.92
- Face Value
- 10.00
- Total Debt
- 16
- Net Working Capital
- 584
- Contingent Liabilities
- 2,243
- Book Value per Share
- 30.92
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 691
- 1,576
- 0
- Trade Payables
- 29
- -153
- Total Liabilities
- 2,142
- 72
- Capital Work in Progress
- 0
- 1,316
- 0
- Cash & Bank
- 13
- 742
- Total Assets
- 2,142
- Total Debt
- 11
- Net Working Capital
- 633
- Contingent Liabilities
- 1,997
- Book Value per Share
- 32.80
- Face Value
- 10.00
- Total Debt
- 11
- Net Working Capital
- 633
- Contingent Liabilities
- 1,997
- Book Value per Share
- 32.80
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 694
- 1,359
- 0
- Trade Payables
- 31
- 34
- Total Liabilities
- 2,118
- 249
- Capital Work in Progress
- 0
- 1,199
- 0
- Cash & Bank
- 46
- 624
- Total Assets
- 2,118
- Total Debt
- 6
- Net Working Capital
- 385
- Contingent Liabilities
- 2,711
- Book Value per Share
- 29.59
- Face Value
- 10.00
- Total Debt
- 6
- Net Working Capital
- 385
- Contingent Liabilities
- 2,711
- Book Value per Share
- 29.59
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 696
- 1,448
- 0
- Trade Payables
- 39
- 178
- Total Liabilities
- 2,361
- 291
- Capital Work in Progress
- 0
- 1,287
- 0
- Cash & Bank
- 16
- 768
- Total Assets
- 2,361
- Total Debt
- 16
- Net Working Capital
- 452
- Contingent Liabilities
- 3,096
- Book Value per Share
- 30.80
- Face Value
- 10.00
- Total Debt
- 16
- Net Working Capital
- 452
- Contingent Liabilities
- 3,096
- Book Value per Share
- 30.80
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 697
- 1,571
- 0
- Trade Payables
- 47
- 154
- Total Liabilities
- 2,469
- 313
- Capital Work in Progress
- 0
- 1,336
- 0
- Cash & Bank
- 26
- 794
- Total Assets
- 2,469
- Total Debt
- 12
- Net Working Capital
- 597
- Contingent Liabilities
- 3,867
- Book Value per Share
- 32.55
- Face Value
- 10.00
- Total Debt
- 12
- Net Working Capital
- 597
- Contingent Liabilities
- 3,867
- Book Value per Share
- 32.55
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 697
- 1,542
- 0
- Trade Payables
- 53
- 47
- Total Liabilities
- 2,339
- 208
- Capital Work in Progress
- 3
- 1,288
- 0
- Cash & Bank
- 21
- 817
- Total Assets
- 2,339
- Total Debt
- 8
- Net Working Capital
- 600
- Contingent Liabilities
- 3,356
- Book Value per Share
- 32.13
- Face Value
- 10.00
- Total Debt
- 8
- Net Working Capital
- 600
- Contingent Liabilities
- 3,356
- Book Value per Share
- 32.13
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 697
- 1,667
- 0
- Trade Payables
- 90
- 219
- Total Liabilities
- 2,673
- 406
- Capital Work in Progress
- 14
- 1,265
- 729
- Cash & Bank
- 52
- 207
- Total Assets
- 2,673
- Total Debt
- 0
- Net Working Capital
- 635
- Contingent Liabilities
- 3,205
- Book Value per Share
- 33.91
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 635
- Contingent Liabilities
- 3,205
- Book Value per Share
- 33.91
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 697
- 1,776
- 246
- Trade Payables
- 113
- 689
- Total Liabilities
- 3,522
- 663
- Capital Work in Progress
- 42
- 1,633
- 895
- Cash & Bank
- 29
- 261
- Total Assets
- 3,522
- Total Debt
- 246
- Net Working Capital
- 345
- Contingent Liabilities
- 5,643
- Book Value per Share
- 35.48
- Face Value
- 10.00
- Total Debt
- 246
- Net Working Capital
- 345
- Contingent Liabilities
- 5,643
- Book Value per Share
- 35.48
- Face Value
- 10.00
Mar 2026
- Equity Capital
- 697
- 1,469
- 313
- Trade Payables
- 111
- 1,323
- Total Liabilities
- 3,912
- 739
- Capital Work in Progress
- 29
- 1,632
- 1,199
- Cash & Bank
- 45
- 267
- Total Assets
- 3,912
- Total Debt
- 313
- Net Working Capital
- 218
- Contingent Liabilities
- 6,169
- Book Value per Share
- 31.08
- Face Value
- 10.00
- Total Debt
- 313
- Net Working Capital
- 218
- Contingent Liabilities
- 6,169
- Book Value per Share
- 31.08
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 78 | 41 | 222 | 388 | 418 | 416 | 270 | 347 | 504 | 633 | |
| Cash from Investing | -104 | 124 | -106 | 77 | -146 | -50 | 47 | -26 | -342 | -34 |
| Cash from Financing | 6 | -166 | -117 | -433 | -307 | -356 | -319 | -296 | -183 | -585 |
| -20 | -1 | -2 | 32 | -35 | 9 | -2 | 24 | -22 | 15 | |
| Free Cash Flow | 57 | 41 | 222 | 182 | 354 | 357 | 270 | 67 | 183 | 387 |
| OCF / Net Profit | 0.42 | 0.21 | 1.11 | 2.13 | 1.14 | 1.07 | 1.09 | 1.08 | 1.18 | 1.46 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 856 | 1,157 | 1,386 | 1,231 | 1,231 | 1,265 |
| OCF / Net Profit | 0.42 | 0.21 | 1.11 | 2.13 | 1.14 | 1.07 | 1.09 | 1.08 | 1.18 | 1.46 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 856 | 1,157 | 1,386 | 1,231 | 1,231 | 1,265 |
Mar 2017
- 78
- Cash from Investing
- -104
- Cash from Financing
- 6
- -20
- Free Cash Flow
- 57
- OCF / Net Profit
- 0.42
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.42
- Cumulative 5-Year FCF
- 0
Mar 2018
- 41
- Cash from Investing
- 124
- Cash from Financing
- -166
- -1
- Free Cash Flow
- 41
- OCF / Net Profit
- 0.21
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.21
- Cumulative 5-Year FCF
- 0
Mar 2019
- 222
- Cash from Investing
- -106
- Cash from Financing
- -117
- -2
- Free Cash Flow
- 222
- OCF / Net Profit
- 1.11
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.11
- Cumulative 5-Year FCF
- 0
Mar 2020
- 388
- Cash from Investing
- 77
- Cash from Financing
- -433
- 32
- Free Cash Flow
- 182
- OCF / Net Profit
- 2.13
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.13
- Cumulative 5-Year FCF
- 0
Mar 2021
- 418
- Cash from Investing
- -146
- Cash from Financing
- -307
- -35
- Free Cash Flow
- 354
- OCF / Net Profit
- 1.14
- Cumulative 5-Year FCF
- 856
- OCF / Net Profit
- 1.14
- Cumulative 5-Year FCF
- 856
Mar 2022
- 416
- Cash from Investing
- -50
- Cash from Financing
- -356
- 9
- Free Cash Flow
- 357
- OCF / Net Profit
- 1.07
- Cumulative 5-Year FCF
- 1,157
- OCF / Net Profit
- 1.07
- Cumulative 5-Year FCF
- 1,157
Mar 2023
- 270
- Cash from Investing
- 47
- Cash from Financing
- -319
- -2
- Free Cash Flow
- 270
- OCF / Net Profit
- 1.09
- Cumulative 5-Year FCF
- 1,386
- OCF / Net Profit
- 1.09
- Cumulative 5-Year FCF
- 1,386
Mar 2024
- 347
- Cash from Investing
- -26
- Cash from Financing
- -296
- 24
- Free Cash Flow
- 67
- OCF / Net Profit
- 1.08
- Cumulative 5-Year FCF
- 1,231
- OCF / Net Profit
- 1.08
- Cumulative 5-Year FCF
- 1,231
Mar 2025
- 504
- Cash from Investing
- -342
- Cash from Financing
- -183
- -22
- Free Cash Flow
- 183
- OCF / Net Profit
- 1.18
- Cumulative 5-Year FCF
- 1,231
- OCF / Net Profit
- 1.18
- Cumulative 5-Year FCF
- 1,231
Mar 2026
- 633
- Cash from Investing
- -34
- Cash from Financing
- -585
- 15
- Free Cash Flow
- 387
- OCF / Net Profit
- 1.46
- Cumulative 5-Year FCF
- 1,265
- OCF / Net Profit
- 1.46
- Cumulative 5-Year FCF
- 1,265
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 2.77 | 2.80 | 2.88 | 2.62 | 5.27 | 5.56 | 3.56 | 4.59 | 6.13 | 6.20 |
| Book Value (₹) | 29.17 | 30.92 | 32.80 | 29.59 | 30.80 | 32.55 | 32.13 | 33.91 | 35.48 | 31.08 |
| 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 (₹) | 3.05 | 3.11 | 3.23 | 3.64 | 6.41 | 6.83 | 4.84 | 5.91 | 7.93 | 9.15 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 26.02% | 28.71% | 24.19% | 28.47% | 36.96% | 35.28% | 30.15% | 28.14% | 26.19% | 29.78% |
| Net Margin % | 20.05% | 22.28% | 25.91% | 19.37% | 27.68% | 24.35% | 18.05% | 19.97% | 18.51% | 14.99% |
| ROE % | 10.05% | 9.34% | 9.07% | 8.43% | 17.47% | 17.57% | 11.02% | 13.89% | 17.66% | 18.63% |
| ROCE % | 10.87% | 10.41% | 10.13% | 10.45% | 20.69% | 20.95% | 14.04% | 16.82% | 22.05% | 22.32% |
| 9.45% | 9.27% | 9.53% | 8.54% | 16.37% | 16.05% | 10.33% | 12.76% | 13.79% | 11.62% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 134 | 198 | 237 | 157 | 125 | 123 | 156 | 156 | 128 | 133 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 134 | 198 | 237 | 157 | 125 | 123 | 156 | 156 | 128 | 133 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.09x | 0.01x | 0.00x | 0.00x | 0.01x | 0.01x | 0.00x | 0.00x | 0.10x | 0.14x |
| Interest Coverage (x) | 32.85x | 34.64x | 114.71x | 14.38x | 28.80x | 23.59x | 21.82x | 22.92x | 13.44x | 9.65x |
| 3.74x | 7.84x | 8.70x | 4.20x | 2.80x | 3.84x | 4.31x | 3.61x | 1.48x | 1.19x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 7.45% | -8.38% | -10.82% | 22.37% | 40.94% | 20.17% | -13.59% | 16.39% | 44.06% | 24.98% |
| Operating Profit Growth % | 12.86% | 1.09% | 0.75% | 19.77% | 74.39% | 7.92% | -26.14% | 17.94% | 32.32% | 40.39% |
| Net Profit Growth % | 24.62% | 1.83% | 3.70% | -8.54% | 101.44% | 5.71% | -35.93% | 28.73% | 33.58% | 1.18% |
| 0.00% | 0.00% | 3.02% | -8.91% | 100.79% | 0.00% | 0.00% | 28.73% | 33.58% | 1.18% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 16.34x | 10.48x | 21.62x | 0.00x | 0.00x | 43.01x | 55.61x | 32.95x |
| P/B (x) | 0.00x | 0.00x | 1.43x | 0.93x | 3.70x | 0.00x | 0.00x | 5.82x | 9.60x | 6.57x |
| 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 | 13.04x | 6.26x | 15.24x | 0.00x | 0.00x | 28.00x | 37.02x | 15.96x |
Mar 2017
- EPS (₹)
- 2.77
- Book Value (₹)
- 29.17
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.05
- Operating Margin %
- 26.02%
- Net Margin %
- 20.05%
- ROE %
- 10.05%
- ROCE %
- 10.87%
- 9.45%
- Debtor Days
- 134
- Inventory Days
- 0
- Payable Days
- 0
- 134
- Debt to Equity (x)
- 0.09x
- Interest Coverage (x)
- 32.85x
- 3.74x
- Revenue Growth %
- 7.45%
- Operating Profit Growth %
- 12.86%
- Net Profit Growth %
- 24.62%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 2.80
- Book Value (₹)
- 30.92
- Dividend per Share (₹)
- 1.50
- Cash EPS (₹)
- 3.11
- Operating Margin %
- 28.71%
- Net Margin %
- 22.28%
- ROE %
- 9.34%
- ROCE %
- 10.41%
- 9.27%
- Debtor Days
- 198
- Inventory Days
- 0
- Payable Days
- 0
- 198
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 34.64x
- 7.84x
- Revenue Growth %
- -8.38%
- Operating Profit Growth %
- 1.09%
- Net Profit Growth %
- 1.83%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 2.88
- Book Value (₹)
- 32.80
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 3.23
- Operating Margin %
- 24.19%
- Net Margin %
- 25.91%
- ROE %
- 9.07%
- ROCE %
- 10.13%
- 9.53%
- Debtor Days
- 237
- Inventory Days
- 0
- Payable Days
- 0
- 237
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 114.71x
- 8.70x
- Revenue Growth %
- -10.82%
- Operating Profit Growth %
- 0.75%
- Net Profit Growth %
- 3.70%
- 3.02%
- P/E (x)
- 16.34x
- P/B (x)
- 1.43x
- Dividend Yield %
- 4.25%
- 13.04x
Mar 2020
- EPS (₹)
- 2.62
- Book Value (₹)
- 29.59
- Dividend per Share (₹)
- 2.50
- Cash EPS (₹)
- 3.64
- Operating Margin %
- 28.47%
- Net Margin %
- 19.37%
- ROE %
- 8.43%
- ROCE %
- 10.45%
- 8.54%
- Debtor Days
- 157
- Inventory Days
- 0
- Payable Days
- 0
- 157
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 14.38x
- 4.20x
- Revenue Growth %
- 22.37%
- Operating Profit Growth %
- 19.77%
- Net Profit Growth %
- -8.54%
- -8.91%
- P/E (x)
- 10.48x
- P/B (x)
- 0.93x
- Dividend Yield %
- 9.09%
- 6.26x
Mar 2021
- EPS (₹)
- 5.27
- Book Value (₹)
- 30.80
- Dividend per Share (₹)
- 3.00
- Cash EPS (₹)
- 6.41
- Operating Margin %
- 36.96%
- Net Margin %
- 27.68%
- ROE %
- 17.47%
- ROCE %
- 20.69%
- 16.37%
- Debtor Days
- 125
- Inventory Days
- 0
- Payable Days
- 0
- 125
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 28.80x
- 2.80x
- Revenue Growth %
- 40.94%
- Operating Profit Growth %
- 74.39%
- Net Profit Growth %
- 101.44%
- 100.79%
- P/E (x)
- 21.62x
- P/B (x)
- 3.70x
- Dividend Yield %
- 2.63%
- 15.24x
Mar 2022
- EPS (₹)
- 5.56
- Book Value (₹)
- 32.55
- Dividend per Share (₹)
- 3.50
- Cash EPS (₹)
- 6.83
- Operating Margin %
- 35.28%
- Net Margin %
- 24.35%
- ROE %
- 17.57%
- ROCE %
- 20.95%
- 16.05%
- Debtor Days
- 123
- Inventory Days
- 0
- Payable Days
- 0
- 123
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 23.59x
- 3.84x
- Revenue Growth %
- 20.17%
- Operating Profit Growth %
- 7.92%
- Net Profit Growth %
- 5.71%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 3.56
- Book Value (₹)
- 32.13
- Dividend per Share (₹)
- 3.50
- Cash EPS (₹)
- 4.84
- Operating Margin %
- 30.15%
- Net Margin %
- 18.05%
- ROE %
- 11.02%
- ROCE %
- 14.04%
- 10.33%
- Debtor Days
- 156
- Inventory Days
- 0
- Payable Days
- 0
- 156
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 21.82x
- 4.31x
- Revenue Growth %
- -13.59%
- Operating Profit Growth %
- -26.14%
- Net Profit Growth %
- -35.93%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 4.59
- Book Value (₹)
- 33.91
- Dividend per Share (₹)
- 3.50
- Cash EPS (₹)
- 5.91
- Operating Margin %
- 28.14%
- Net Margin %
- 19.97%
- ROE %
- 13.89%
- ROCE %
- 16.82%
- 12.76%
- Debtor Days
- 156
- Inventory Days
- 0
- Payable Days
- 0
- 156
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 22.92x
- 3.61x
- Revenue Growth %
- 16.39%
- Operating Profit Growth %
- 17.94%
- Net Profit Growth %
- 28.73%
- 28.73%
- P/E (x)
- 43.01x
- P/B (x)
- 5.82x
- Dividend Yield %
- 1.77%
- 28.00x
Mar 2025
- EPS (₹)
- 6.13
- Book Value (₹)
- 35.48
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 7.93
- Operating Margin %
- 26.19%
- Net Margin %
- 18.51%
- ROE %
- 17.66%
- ROCE %
- 22.05%
- 13.79%
- Debtor Days
- 128
- Inventory Days
- 0
- Payable Days
- 0
- 128
- Debt to Equity (x)
- 0.10x
- Interest Coverage (x)
- 13.44x
- 1.48x
- Revenue Growth %
- 44.06%
- Operating Profit Growth %
- 32.32%
- Net Profit Growth %
- 33.58%
- 33.58%
- P/E (x)
- 55.61x
- P/B (x)
- 9.60x
- Dividend Yield %
- 1.17%
- 37.02x
Mar 2026
- EPS (₹)
- 6.20
- Book Value (₹)
- 31.08
- Dividend per Share (₹)
- 5.50
- Cash EPS (₹)
- 9.15
- Operating Margin %
- 29.78%
- Net Margin %
- 14.99%
- ROE %
- 18.63%
- ROCE %
- 22.32%
- 11.62%
- Debtor Days
- 133
- Inventory Days
- 0
- Payable Days
- 0
- 133
- Debt to Equity (x)
- 0.14x
- Interest Coverage (x)
- 9.65x
- 1.19x
- Revenue Growth %
- 24.98%
- Operating Profit Growth %
- 40.39%
- Net Profit Growth %
- 1.18%
- 1.18%
- P/E (x)
- 32.95x
- P/B (x)
- 6.57x
- Dividend Yield %
- 2.69%
- 15.96x
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