Firstsource Solutions share price
NSE: FSLBSE: 532809Commercial Services & SuppliesSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹298.75.
28 Oct: open ₹295.00, high ₹309.80, low ₹293.15
- Next results date: the board meets on 29 Oct 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹21,464 Cr374th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 31.99
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹170 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 25.52
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 4.90
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.79%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 15.8%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹170 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 19.8%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 19.1%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.44
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 23,08,92433.9% delivered
About Firstsource Solutions
Firstsource Solutions is a Mumbai-based business process management company that runs operations for enterprises in healthcare, banking and financial services, communications, media, technology, retail and utilities.12 Its services include contact centres, transaction processing and debt collection, including revenue cycle management (billing and payment collection for hospitals and doctors) in healthcare.2 Most of its revenue comes from clients in the United States and the United Kingdom.34
It reports 4 verticals: banking and financial services, healthcare, communications, media and technology, and diverse industries, which include utilities and retail.5 Its operations span 12 countries, among them India, the Philippines, Mexico, South Africa, Romania and Canada.15 Sourcepoint is its US mortgage arm, and its own platforms include the Mortgage Language Model, the Agentic AI Studio and the Gigsourcing Platform.5 Its Kairos operating system designs, builds and runs AI agent workflows across enterprise transformation.67
Firstsource Solutions was incorporated on 6 December 2001.2 Its acquisitions include Ascensos, a retail and e-commerce customer experience company headquartered in Scotland.8 Firstsource belongs to the RP-Sanjiv Goenka Group, and its holding company is RPSG Ventures Limited.19 Sanjiv Goenka chairs both the group and Firstsource, and Ritesh Idnani is its managing director and chief executive.1011
Firstsource Solutions key points
Results
- In the year to Mar 2026, consolidated revenue from operations rose 19.7% to ₹95,563.94 million from ₹79,803.14 million, or 13.6% in constant currency (exchange rates held steady), and annual revenue crossed US$1 billion for the first time.1213
- Operating EBITDA (earnings before interest, tax, depreciation and amortisation) rose to ₹15,561.79 million from ₹12,076.20 million in the year to Mar 2026, profit after tax to ₹6,744.25 million from ₹5,944.55 million, and net cash from operating activities to ₹12,139.76 million from ₹7,010.96 million.1415
- In the quarter to Jun 2026, revenue rose 22.9% from a year earlier and 5.5% from the previous quarter in rupee terms to ₹27.2 billion, or 12.3% and 2.2% in constant currency, and EBIT (earnings before interest and tax) was ₹3,367 million, a 12.4% margin.1617
- Profit after tax for the quarter to Jun 2026 was ₹1.7 billion after one-time charges of ₹717 million before tax, or ₹563 million after tax; adjusted for those charges, as the company presents it, it was ₹2.2 billion, up 31.2% year-on-year.18
Business segments
- Share of revenue by vertical19
Item quarter to Jun 2026 Banking and financial services 33.2% Healthcare 33.0% Communications, media and technology 20.6% Diverse industries 13.2% - Banking and financial services revenue grew 14% year-on-year in constant currency in the quarter to Jun 2026.20
- Healthcare revenue grew 11% year-on-year in constant currency in the quarter to Jun 2026 but fell 2% on the previous quarter.21
- In the quarter to Jun 2026, communications, media and technology revenue grew 6% year-on-year and 9% from the previous quarter; diverse industries revenue grew 27% year-on-year in constant currency.22
Where revenue comes from
Delivery centres and staff
- Firstsource had 57 operation centres at the end of March 2026: 20 in India, 18 in North America, 14 in Europe, the Middle East and Africa, 4 in the Philippines and 1 in Australia.26
- Headcount was 36,875 at the end of June 2026, a net addition of 670 in the quarter, and voluntary attrition (the rate at which staff leave) was 27.5%.27
Customers and partners
- Clients among the largest firms in each market28
Item quarter to Jun 2026 US health plans 10 of the top 15 US mortgage lenders and servicers 14 of the top 20 US credit card issuers 7 of the top 10 UK telecom companies 4 of the top 5 - The 5 largest clients, all Fortune 500 companies, have stayed an average of 22 of the company's 25 years and gave 28.6% of income from services (revenue from client work) in the year to Mar 2026, against 31.2% a year earlier.2930
- In the year to Mar 2026, 42 clients each gave Firstsource over $5 million in annual revenue, against 30 clients a year earlier.31
Deal wins
- In the year to Mar 2026, Firstsource signed 17 large deals (annual contract value of US$5 million or more each) and added 47 new clients, 24 of them strategic (a potential relationship of US$5 million or more).3233
- In the quarter to Jun 2026, it signed 4 large deals, the sixth straight quarter with 4 or more, and added 12 new clients, 3 of them strategic.3435
- Its largest healthcare contract to date, signed in the year to Mar 2026, is a transformation mandate covering claims for one of the largest US healthcare organisations.36
What the company expects
- On its earnings call of 6 Aug 2026, the company said it expects constant currency revenue growth of 10% to 13% and an EBIT margin of 12.25% to 12.75% in the year to Mar 2027.37
- The company said on the same call that the guidance had assumed about 1% to 1.5% growth from a healthcare programme now being wound down, and it held the guidance unchanged.38
- On its earnings call of 6 Aug 2026, the company said it aims to take its EBIT margin to 14% to 15% over the next 2 to 3 years.39
Recent events
- On 13 Jan 2026, Firstsource announced its acquisition of TeleMedik, a Puerto Rico-based healthcare company offering clinical management, utilisation review and bilingual care management, for up to $3 million; it completed in January 2026.404142
- On 11 Dec 2025, Firstsource completed its acquisition of Pastdue Credit Solutions, a UK collector of early arrears and debts for other companies, for £22 million.4341
- In its exchange filing of 10 Dec 2025, the company said CRISIL Ratings had reaffirmed its long-term bank loan rating at Crisil A+ and changed the outlook (the likely direction of the rating) to Positive from Stable.44
Last updated
All 44 sources, each with its page
- 1. Annual report, 14 Jul 2026, page 5
- 2. Annual report, 14 Jul 2026, page 108
- 3. Annual report, 14 Jul 2026, page 42
- 4. Annual report, 14 Jul 2026, page 45
- 5. Annual report, 14 Jul 2026, page 39
- 6. Annual report, 14 Jul 2026, page 39
- 7. Exchange filing, 16 Apr 2026, page 2
- 8. Annual report, 14 Jul 2026, page 13
- 9. Annual report, 14 Jul 2026, page 122
- 10. Annual report, 14 Jul 2026, page 7
- 11. Annual report, 14 Jul 2026, page 8
- 12. Annual report, 14 Jul 2026, page 45
- 13. Annual report, 14 Jul 2026, page 39
- 14. Annual report, 14 Jul 2026, page 45
- 15. Annual report, 14 Jul 2026, page 45
- 16. Earnings call, 6 Aug 2026, page 3
- 17. Investor presentation, 6 Aug 2026, page 30
- 18. Earnings call, 6 Aug 2026, page 7
- 19. Investor presentation, 6 Aug 2026, page 31
- 20. Earnings call, 6 Aug 2026, page 4
- 21. Earnings call, 6 Aug 2026, page 4
- 22. Earnings call, 6 Aug 2026, page 5
- 23. Investor presentation, 6 Aug 2026, page 31
- 24. Earnings call, 6 Aug 2026, page 5
- 25. Earnings call, 6 Aug 2026, page 6
- 26. Annual report, 14 Jul 2026, page 51
- 27. Earnings call, 6 Aug 2026, page 6
- 28. Investor presentation, 6 Aug 2026, page 10
- 29. Annual report, 14 Jul 2026, page 9
- 30. Annual report, 14 Jul 2026, page 45
- 31. Annual report, 14 Jul 2026, page 45
- 32. Annual report, 14 Jul 2026, page 39
- 33. Investor presentation, 6 Aug 2026, page 6
- 34. Earnings call, 6 Aug 2026, page 3
- 35. Earnings call, 6 Aug 2026, page 4
- 36. Annual report, 14 Jul 2026, page 40
- 37. Earnings call, 6 Aug 2026, page 9
- 38. Earnings call, 6 Aug 2026, page 9
- 39. Earnings call, 6 Aug 2026, page 16
- 40. Exchange filing, 13 Jan 2026, page 2
- 41. Annual report, 14 Jul 2026, page 39
- 42. Annual report, 14 Jul 2026, page 40
- 43. Exchange filing, 11 Dec 2025, page 1
- 44. Exchange filing, 10 Dec 2025, page 1
Results
Consolidated; ₹ crore.Firstsource Solutions quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +19.7%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +6.8%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹2,725 Crup 5.47%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹166 Crdown 19.16%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 6.1%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,925 | 2,102 | 2,161 | 2,218 | 2,312 | 2,443 | 2,583 | 2,725 |
| Net profit | 138 | 160 | 161 | 169 | 180 | 120 | 205 | 166 |
| Net margin | 7.2% | 7.6% | 7.4% | 7.6% | 7.8% | 4.9% | 7.9% | 6.1% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹9,556 Crup 19.75%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹674 Crup 13.45%
- Net margin
- 7.1%
Revenue by year
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,556 | 3,535 | 3,826 | 4,099 | 5,078 | 5,921 | 6,022 | 6,336 | 7,980 | 9,556 |
| Net profit | 279 | 327 | 378 | 340 | 362 | 537 | 514 | 515 | 594 | 674 |
| Net margin | 7.9% | 9.2% | 9.9% | 8.3% | 7.1% | 9.1% | 8.5% | 8.1% | 7.4% | 7.1% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- HealthcareHealthcare, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹3,209 Crup 15.34%33.4%
- Banking and Financial ServicesBanking and Financial Services, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹3,113 Crup 14.78%32.4%
- Communication, Media and TechnologyCommunication, Media and Technology, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹2,044 Crup 20.95%21.3%
- Diverse IndustriesDiverse Industries, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,251 Crup 58.69%13.0%
Valuation
Today, against the company's own history.Firstsource Solutions PE ratio and valuation
At or below today's level on 77% of 2,478 trading days over the last 10 years.
At or below today's level on 78% of 1,979 trading days since Nov 2018.
At or below today's level on 43% of 2,474 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −37.2% | +13.2% | −46.9% | 2.7% |
| 3 years | +26.5% | +9.5% | +13.9% | 1.9% |
| 5 years | +14.8% | +13.2% | −0.7% | 2.4% |
Mutual fund holdings
88 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 42 of the 48 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 88 funds holding Firstsource Solutions
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 1
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 13
- CutCut. Funds that held fewer shares than at the end of the month before.
- 35
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 38
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
| 5,87,22,189 | 3.68% | ₹1,502.1 Cr | |
| 75,40,028 | 2.08% | ₹192.9 Cr | |
| 70,00,000 | 3.49% | ₹179.1 Cr | |
| 67,64,223 | 1.24% | ₹173.0 Cr | |
| 60,00,000 | 3.69% | ₹153.5 Cr | |
| 37,09,149 | 2.62% | ₹94.9 Cr | |
| 34,10,853 | 0.61% | ₹87.2 Cr | |
| 26,33,959 | 1.46% | ₹67.4 Cr | |
| 26,30,839 | 0.35% | ₹67.3 Cr | |
| 23,04,193 | 4.30% | ₹58.9 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Firstsource Solutions insider trading
- Promoters and promoter group0 purchases, 1 saleNo purchase₹0.41 CrNetNet. The value bought on the market less the value sold, over the trades whose filers stated a value.−₹0.41 Cr
- Employees0 purchases, 9 salesNo purchase₹5.61 CrNet−₹5.61 Cr
- Others13 purchases, 30 sales₹42 Cr₹18 CrNet₹24 Cr4 pledge filings of unclear kind · 20 off-market moves
Firstsource Solutions competitors and peers
Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO), 16 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Firstsource Solutions in market cap. 1 company in its own group left out: one owns more than half of the other, directly or through a company it controls, or one owner more than half of both.Services companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 17,552 | 24.17 | 6.02 | +22.4% | +18.2% | 26.2% | 31.1% | 0.05% | |
| 3,933 | – | – | – | – | – | – | 0.00% | |
| 1,895 | 42.01 | 4.24 | +52.4% | +28.9% | 10.6% | 9.8% | 0.00% | |
| 1,555 | – | 0.19 | −1.5% | – | −0.5% | −4.8% | 1.50% | |
| 1,234 | 14.44 | 4.92 | +7.9% | +29.0% | 33.5% | 42.1% | 7.41% | |
| 58 | 31.47 | 1.93 | +63.3% | +16.2% | 7.4% | – | 0.00% | |
| 54 | 4.21 | 0.25 | – | – | 6.0% | – | 0.00% | |
| 46 | 10.59 | 1.49 | +20.6% | +176.5% | 14.7% | 8.0% | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.Firstsource Solutions dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 20 Feb 2026 | Interim | ₹5.50 |
| 21 Feb 2025 | Interim | ₹4.00 |
| 16 Feb 2024 | Interim | ₹3.50 |
| 17 Feb 2023 | Interim | ₹3.50 |
| 17 Feb 2022 | Interim | ₹3.50 |
| 17 Feb 2021 | Interim | ₹3.00 |
Latest announcements
Routine notices left out.Firstsource Solutions announcements
Oct 2026
26 Oct · Analysts
13 Oct · Board meeting
Firstsource Solutions share price by year
Each calendar year to 2025.Firstsource Solutions share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 335.80 | −10.7% | 406.75 | 279.00 |
| 2024 | 376.00 | +103.4% | 383.70 | 181.90 |
| 2023 | 184.85 | +80.7% | 189.05 | 101.25 |
| 2022 | 102.30 | −44.1% | 188.20 | 94.30 |
| 2021 | 183.10 | +80.4% | 229.70 | 87.00 |
| 2020 | 101.50 | +147.0% | 108.95 | 25.00 |
| 2019 | 41.10 | −12.4% | 57.40 | 37.10 |
| 2018 | 46.90 | +14.8% | 82.95 | 37.90 |
| 2017 | 40.85 | +8.1% | 48.15 | 30.55 |
| 2016 | 37.80 | −12.5% | 52.85 | 29.65 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 293.00 | 300.70 | 290.20 | 298.75 | 295.51 | 12,55,768 | 45.6% |
| 26 Oct 2026 | 286.50 | 294.35 | 284.10 | 292.25 | 291.20 | 9,71,176 | 29.4% |
| 23 Oct 2026 | 292.00 | 296.35 | 280.80 | 290.40 | 288.97 | 31,58,537 | 30.0% |
| 22 Oct 2026 | 284.00 | 291.00 | 279.10 | 289.40 | 286.85 | 17,02,602 | 26.8% |
| 21 Oct 2026 | 276.00 | 286.95 | 275.80 | 284.25 | 281.95 | 25,70,717 | 17.2% |
| 19 Oct 2026 | 283.00 | 284.20 | 274.80 | 275.80 | 277.99 | 5,08,601 | 33.7% |
| 16 Oct 2026 | 283.05 | 292.35 | 280.45 | 281.80 | 286.06 | 15,37,147 | 24.1% |
| 15 Oct 2026 | 289.15 | 290.75 | 280.25 | 281.75 | 284.78 | 11,47,223 | 25.9% |
| 14 Oct 2026 | 291.00 | 300.00 | 285.55 | 288.50 | 294.19 | 52,87,237 | 38.5% |
Company details
- NSE symbol
- FSL
- BSE code
- 532809
- ISIN
- INE684F01012
- Industry
- Commercial Services & Supplies
- Website
- www.firstsource.com
- CIN
- L64202MH2001PLC134147
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2001
- Registered office
- 1st Floor, Athena Towers, Mindspace Malad, Goregaon (W), Mumbai 400063, Maharashtra
- Share registrar
- 3i Infotech Ltd
- Keeps the register of shareholders and handles transfers and dividend payments