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Firstsource Solutions Ltd.

294.45−11.90 (−3.88%)

BSE · 30 Oct, 4:01 PM

: ₹20,902.06 Cr
: 28.86
: 2,99,765
: ₹318.95 - ₹288.00
: ₹371.80 - ₹200.60

Firstsource Solutions Ltd. (FSL) share price closed at ₹294.45 on the BSE on Friday, October 30, 2026, down by 3.88% from its of ₹306.35. In that session FSL reached a of 318.95 and of 288.00. The for the session was 304.49. The stands at 271.97 and is at 259.99. Looking at , the stock ended the session in Downtrend.

Stock Overview

₹317.80

₹306.35

₹304.49

₹271.97

Price 8.27% above

₹259.99

Price 13.25% above

Key Fundamentals

: 20,902.06 Cr₹20.90 Thousand Crore
: 10.20
: 28.86
: 4.27
: 68.89
: 1,761.15 Cr₹1.76 Thousand Crore
: 1.87 %
Sector
Industry: BPO/ITeS
: 16.35
: 0.46

Industry Comparison

Ratio	Company	Sector
	28.86	20.76
	0.46	0.03
	4.27	2.54
	0.80	2.16
	1.87 %	0.02 %
Operating Margin	16.25 %	15.20 %

Sector figures are the median of 143 listed IT companies.

Peer Comparison

Name
INFO EDGE NAUKRI	1,190.00	43.77	77,162.05	0.71	649.77	86.99%	903.88	12.22%	5.94
Firstsource Solutions Ltd. FSL	294.45	28.86	20,902.06	1.87	232.44	29.48%	2,825.60	22.20%	17.26
AFFLE AFFLE	1,345.00	40.42	19,353.99	0.00	129.79	17.44%	783.59	21.16%	16.86
ECLERX ECLERX	1,556.70	20.16	14,640.88	0.06	180.60	-1.56%	1,188.66	18.29%	40.23
FUSIONCX FUSIONCX	285.95	23.93	4,127.98	0.18					32.00
PROTEAN PROTEAN	632.35	31.09	2,578.67	1.59	5.86	-75.43%	250.96	19.03%	13.19
ONEPOINT ONEPOINT	69.40	41.11	1,824.78	0.00	16.31	72.83%	158.32	129.41%	11.86
HGSL HGS	332.80	48.38	1,548.20	1.49	-66.26	-693.73%	1,050.36	-0.56%	1.44

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	1,791.10	1,925.38	2,102.38	2,161.46	2,217.65	2,312.21	2,443.08	2,583.45	2,724.88	2,825.60
Expenses	1,521.23	1,638.11	1,784.72	1,828.64	1,870.57	1,936.19	2,040.43	2,153.04	2,273.57	2,355.06
	269.87	287.27	317.66	332.82	347.09	376.03	402.65	430.42	451.31	470.54
	15.07%	14.92%	15.11%	15.40%	15.65%	16.26%	16.48%	16.66%	16.56%	16.65%
	1.84	-2.73	6.71	2.12	6.83	-3.20	-96.53	-1.71	-65.58	-1.79
Interest	31.60	34.33	39.32	42.62	43.44	42.76	43.25	52.02	51.75	50.99
	72.85	79.19	84.40	90.60	97.25	109.56	111.20	116.09	114.64	118.41
	167.26	171.03	200.65	201.71	213.23	224.33	151.68	260.60	219.34	299.35
	19.14%	19.19%	20.11%	20.34%	20.59%	19.98%	20.67%	21.24%	24.36%	22.35%
	135.25	138.22	160.30	160.69	169.33	179.52	120.33	205.24	165.92	232.82
	1.94	1.98	2.30	2.31	2.43	2.58	1.73	2.94	2.38	3.34

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
Operating Income	5,921.15	6,022.32	6,336.25	7,980.31	9,556.39
Operating Income (Net)	5,921.15	6,022.32	6,336.25	7,980.31	9,556.39
EXPENDITURE :
Power & Fuel Cost	25.86	33.37	30.92	42.43	48.53
Employee Cost	3,946.76	3,867.48	3,908.65	4,995.16	5,589.72
Operating Expenses	270.21	289.64	311.80	420.06	547.66
General and Administration Expenses	623.38	930.69	988.40	1,162.62	1,658.81
Selling and Marketing Expenses	58.64	40.75	68.34	88.43	83.66
Miscellaneous Expenses	39.48	37.33	77.28	75.29	75.45
	4,964.33	5,199.25	5,385.40	6,783.99	8,003.83
Operating Profit (Excl OI)	956.82	823.06	950.85	1,196.32	1,552.57
	3.59	134.29	42.44	10.43	11.06
	960.41	957.36	993.28	1,206.75	1,563.63
Interest	63.94	78.97	103.38	147.88	181.47
PBDT	896.47	878.39	889.90	1,058.88	1,382.17
	249.37	263.17	260.22	327.04	434.09
Profit Before Taxation & Exceptional Items	647.10	615.22	629.68	731.84	948.08
Exceptional Income / Expenses				8.81	-98.23
	647.10	615.22	629.68	740.65	849.84
Provision for Tax	110.57	101.50	114.95	146.20	175.43
	536.53	513.71	514.73	594.45	674.41
Extra items				0.00	0.00
Minority Interest	0.84	0.01	0.00	0.00	0.01
Consolidated Net Profit	537.37	513.72	514.73	594.46	674.43
Profit Balance B/F	1,381.03	1,552.47	1,742.60	2,000.99	2,313.99
Appropriations	1,918.40	2,066.19	2,257.33	2,595.45	2,988.41
Equity Dividend %	35.00%	35.00%	35.00%	40.00%	55.00%
	7.71	7.37	7.39	8.53	9.68
Adjusted EPS	7.71	7.37	7.39	8.53	9.68

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	696.99	696.99	696.99	696.99	696.99
Share Warrants & Outstandings	51.43	65.17	47.06	102.68	129.35
Total Reserves	2,284.52	2,604.69	2,956.35	3,297.96	3,558.19
Reserve excluding Revaluation Reserve	2,284.52	2,604.69	2,956.35	3,297.96	3,558.19
Revaluation reserve		0.00
	3,032.94	3,366.85	3,700.40	4,097.63	4,384.53
Minority Interest	0.37	0.35	0.38	0.40	0.40
Secured Loans	273.30
Unsecured Loans		139.37		341.90	189.67
Deferred Tax Assets / Liabilities	-185.88	-175.21	-145.02	-108.95	-202.40
Other Long Term Liabilities	757.51	464.85	571.36	865.03	964.33
Long Term Provisions	14.34	13.70	39.29	39.02	149.11
Total Non-Current Liabilities	859.26	442.71	465.63	1,137.00	1,100.71
Trade Payables	178.06	231.45	305.58	397.62	557.93
Other Current Liabilities	602.96	710.45	588.02	739.74	1,207.18
Short Term Borrowings	694.98	527.10	667.26	1,190.80	1,558.13
Short Term Provisions	58.34	90.65	56.27	85.59	120.12
Total Current Liabilities	1,534.33	1,559.65	1,617.13	2,413.75	3,443.36
Total Liabilities	5,426.91	5,369.56	5,783.54	7,648.77	8,929.00
Gross Block	4,442.22	4,459.46	4,818.39	6,219.05	7,274.46
Less: Accumulated Depreciation	698.58	743.22	965.37	1,225.50	1,707.62
	3,743.64	3,716.24	3,853.02	4,993.55	5,566.84
		3.42	17.09	49.14	29.92
Non Current Investments	11.47	11.57	11.51	11.53	65.77
Long Term Investment	11.47	11.57	11.51	11.53	65.77
Long Term Loans & Advances	129.03	123.25	152.69	165.63	181.52
Other Non Current Assets	118.67	106.84	214.50	204.88	322.65
Total Non-Current Assets	4,005.74	3,961.31	4,248.81	5,424.72	6,166.70
Currents Investments	118.54	59.55	30.03	61.56	50.16
Sundry Debtors	960.53	1,038.49	1,160.82	1,686.03	2,078.59
Cash and Bank	89.83	155.55	188.46	166.99	269.27
Other Current Assets	161.33	95.27	89.30	185.89	180.84
Short Term Loans and Advances	90.94	59.38	66.13	123.57	183.43
Total Current Assets	1,421.17	1,408.25	1,534.73	2,224.05	2,762.29
Net Current Assets (Including Current Investments)	-113.16	-151.41	-82.40	-189.70	-681.07
Total Assets	5,426.91	5,369.56	5,783.54	7,648.77	8,929.00
	201.54	208.88	213.33	221.18	238.48
Total Debt	1,009.66	826.98	804.88	1,532.70	1,937.47
	42.78	47.37	52.42	57.32	61.05
Adjusted Book Value	42.78	47.37	52.42	57.32	61.05

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	647.10	615.22	629.68	740.65	849.84
Adjustment	339.39	168.90	327.29	576.71	862.06
Changes In working Capital	-188.45	76.50	-241.14	-494.40	-308.23
Cash Flow after changes in Working Capital	798.04	860.62	715.83	822.97	1,403.67
Cash Flow from Operating Activities	703.56	795.02	644.05	701.10	1,213.98
Cash Flow from Investing Activities	-594.58	16.35	-57.99	-745.90	-452.36
Cash Flow from Financing Activitie	-157.96	-743.38	-563.45	22.59	-666.78
Net Cash Inflow / Outflow	-48.98	67.99	22.61	-22.21	94.84
Opening Cash & Cash Equivalents	131.62	82.82	151.54	174.77	154.21
Effect of Foreign Exchange Fluctuations	0.19	0.73	0.62	1.65	9.53
Closing Cash & Cash Equivalent	82.82	151.54	174.77	154.21	258.58

Ratios

Valuation

28.86

4.27

12.77

1.96

10.20

68.89

Profitability

16.35

17.26

8.14

16.25

7.06

Leverage & Liquidity

0.46

0.80

5.68

Returns

1.87

1.15

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26	Sep '26
	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66	53.66
	28.88	30.23	31.89	32.98	33.52	33.87	34.39	34.35	33.79	34.28
	17.47	16.12	14.45	13.37	12.82	12.47	11.95	12.00	12.55	12.07
	46.34	46.34	46.34	46.34	46.34	46.34	46.34	46.34	46.34	46.34
No. of Shareholders	2,58,789	2,82,859	2,80,639	2,66,868	2,54,253	2,40,982	2,30,472	2,29,935	2,42,813	2,35,538

Mutual Funds Invested(89)

Based on each fund's latest monthly portfolio · Sep 2026

A total of 47 active funds hold 18.63% in Firstsource Solutions Ltd., contributing to ₹3.38K Cr of holdings

Fund				As of
HD HDFC Small Cap Fund - Growth - Direct PlanSmall cap Fund	1,502.11	3.68	5,87,22,189	Sep '26
TA Tata Digital India Fund - Growth - Direct PlanTechnology	192.87	2.08	75,40,028	Sep '26
SB SBI Innovative Opportunities Fund - Growth - Direct PlanEquity - Thematic Fund - Other	179.06	3.49	70,00,000	Sep '26
CR Canara Robeco Small Cap Fund - Growth - Direct PlanSmall cap Fund	173.03	1.24	67,64,223	Sep '26
SB SBI Technology Opportunities Fund - Growth - Direct PlanTechnology	153.48	3.69	60,00,000	Sep '26
AB Aditya Birla Sun Life Digital India Fund - Growth - Direct PlanTechnology	94.88	2.62	37,09,149	Sep '26
FT Franklin India Small Cap Fund - Growth - Direct PlanSmall cap Fund	87.25	0.61	34,10,853	Sep '26
MO Motilal Oswal Multi Cap Fund - Growth - Direct PlanMulti Cap Fund	67.38	1.46	26,33,959	Sep '26
ED Edelweiss Mid Cap Fund - Growth - Direct PlanMid Cap Fund	67.30	0.35	26,30,839	Sep '26
HD HDFC Technology Fund - Growth - Direct PlanTechnology	58.94	4.30	23,04,193	Sep '26

Corporate Actions

Showing: All

Date	Type	Details
2026-10-13	Board Meeting	Audited Results & Quarterly Results
2026-07-20	Board Meeting	Audited Results & Quarterly Results
2026-07-15	AGM

Insider Trading

Date	Person	Category	Transaction Type	Shares
2026-09-30	Firstsource Employee Benefit Trust	Market	Sell	2,120
2026-09-30	Firstsource Employee Benefit Trust	Off Market	Sell	28,331
2026-09-28	Shamita Mukherjee	Market	Sell	10,000
2026-09-09	Firstsource Employee Benefit Trust	Off Market	Sell	65,898
2026-09-09	Firstsource Employee Benefit Trust	Market	Sell	2,070
2026-08-31	Firstsource Employee Benefit Trust	Off Market	Sell	173,393
2026-08-31	Firstsource Employee Benefit Trust	Market	Sell	59,309
2026-08-31	Firstsource Employee Benefit Trust	Market	Sell	874
2026-08-31	Firstsource Employee Benefit Trust	Market	Sell	36,307
2026-08-25	Firstsource Employee Benefit Trust	Off Market	Sell	88,483
2026-08-25	Firstsource Employee Benefit Trust	Market	Sell	39,400
2026-08-18	Firstsource Employee Benefit Trust	Off Market	Sell	248,355
2026-08-18	Firstsource Employee Benefit Trust	Market	Sell	105,550
2026-06-29	Dinesh Jain	Market	Sell	7,211
2026-06-29	Dinesh Jain	Market	Buy	7,211
2026-06-18	Firstsource Employee Benefit Trust	Market	Sell	370
2026-06-18	Firstsource Employee Benefit Trust	Off Market	Sell	176,863
2026-06-10	Firstsource Employee Benefit Trust	Off Market	Sell	9,042
2026-06-09	Firstsource Employee Benefit Trust	Off Market	Sell	18,362
2026-06-09	Firstsource Employee Benefit Trust	Market	Sell	2,200

Sector Overview

ITBPO/ITeS

Firstsource Solutions Ltd. operates in the IT sector under the BPO/ITeS industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

12 members across the board and senior leadership

Sanjiv Goenka

Chairman

₹4.00 L

Mar '26

Shashwat Goenka

Vice Chairman

₹5.50 L

Mar '26

Ritesh Idnani

Managing Director & Chief Executive Officer

₹3.07 Cr

Mar '26

Pradip Kumar Khaitan

Non Independent & Non Executive Director

₹4.00 L

Mar '26

Subrata Talukdar

Non Independent & Non Executive Director

₹9.00 L

Mar '26

Utsav Parekh