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Firstsource Solutions Ltd - Stock Valuation and Financial Performance

BSE: 532809 | NSE: FSL | BPO/ITeS | Small Cap

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Firstsource Solution Share Price

 ₹367.70 -7.30 -1.95%
as on 20-May'25 16:59

DeciZen - make an informed investing decision on Firstsource Solution

Overall Rating ⓘ
Bole Toh

1. Quality

Very Good
Check detailed 10 Yrs performace

2. Valuation ⓘ

Overvalued
Check 10 Yrs Valuation charts

3. Price Trend

Strong
Check Price chart

Firstsource Solutions stock performance -

PE Chart Key Ratios
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P/E Ratio (SA):
62.03
Market Cap:
26,490.7 Cr.
52-wk low:
176.7
52-wk high:
422.8

Is Firstsource Solutions Ltd an attractive stock to invest in?

1. Is Firstsource Solutions Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Firstsource Solutions Ltd is a good quality company.

2. Is Firstsource Solutions Ltd undervalued or overvalued?

The key valuation ratios of Firstsource Solutions Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Firstsource Solutions Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Firstsource Solutions Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Firstsource Solution:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Standalone Basis P Consolidated Basis P
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Firstsource Solutions Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % ⓘ10.5%9.7%10.9%10.4%10.1%10.5%20.7%21%14%16.8%-
Value Creation
Index ⓘ		-0.3-0.3-0.2-0.3-0.3-0.30.50.60.00.2-

Growth Parameters ⓘ

Growth Parameters Colour Code Guide ⓘ

Sales ⓘ9148759408617689401,3251,5921,3761,6012,312
Sales YoY Gr.--4.3%7.5%-8.4%-10.8%22.4%40.9%20.2%-13.6%16.4%-
Adj EPS ⓘ2.42.22.72.82.52.65.25.63.54.56.1
YoY Gr.--9.6%25.4%1.1%-8.4%1.2%105.5%5.9%-36.2%28.3%-
BVPS (₹) ⓘ24.426.229.230.932.829.630.832.632.133.936.6
Adj Net
Profit ⓘ		160146186189174177365387247316427
Cash Flow from Ops. ⓘ50.676.978.341.1222388418416270348-
Debt/CF from Ops. ⓘ4.62.52.40.40.100000-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ6.4%15.8%6.5%16.4%
Adj EPS ⓘ7.3%12.5%-4.7%28.3%
BVPSⓘ3.7%0.7%3.3%5.5%
Share Price 27.9% 64.9% 50.1% 86.9%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity % ⓘ		10.78.69.89.27.98.217.217.210.713.417.2
Op. Profit
Mgn % ⓘ		22.822.724.427.224.228.53733.427.528.326.3
Net Profit
Mgn % ⓘ		17.516.719.72222.618.827.524.31819.818.5
Debt to
Equity ⓘ		0.10.10.100000000
Working Cap
Days ⓘ		20423323830435326519217921420179
Cash Conv.
Cycle ⓘ		6710011717821714011010813713231

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 17.20%

Sales growth is good in last 4 quarters at 45.43%

Sales growth has been subdued in last 3 years 6.52%

Net Profit has been subdued in last 3 years -4.67%

Latest Financials - Firstsource Solutions Ltd.

Standalone Consolidated
TTM EPS (₹) 6.1 8.4
TTM Sales (₹ Cr.) 2,312 7,972
BVPS (₹.) ⓘ 36.6 58.1
Reserves (₹ Cr.) ⓘ 1,879 3,401
P/BV ⓘ 10.25 6.45
PE ⓘ 62.03 44.56
From the Market
52 Week Low / High (₹) 176.70 / 422.80
All Time Low / High (₹) 5.67 / 422.80
Market Cap (₹ Cr.) 26,491
Equity (₹ Cr.) 706.4
Face Value (₹) 10
Industry PE ⓘ 76.2

Management X-Ray of Firstsource Solution:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Firstsource Solution

Event Update

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Analyst's Notes

No data found!

Key Ratios of Firstsource Solution

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales9148759408617689401,3251,5921,3761,601
Operating Expenses ⓘ 7106767136275826728351,0631,0001,150
Manufacturing Costs13713012810592100104127143165
Material Costs0000000000
Employee Cost 438424458415383481631800712820
Other Costs ⓘ 13612312710710792100136145164
Operating Profit ⓘ 204198228234186268490529376451
Operating Profit Margin (%) 22.3%22.7%24.2%27.2%24.2%28.5%37.0%33.2%27.3%28.2%
Other Income ⓘ 23181713633131333938
Interest ⓘ 2197721615201517
Depreciation ⓘ 46321922247180888992
Exceptional Items ⓘ 0000000000
Profit Before Tax ⓘ 160176219219223212425453311380
Tax ⓘ -4243027243059666360
Profit After Tax 164151188192199182367388248320
PAT Margin (%) 17.9%17.3%20.0%22.3%25.9%19.4%27.7%24.3%18.1%20.0%
Adjusted EPS (₹)2.52.32.82.82.92.65.35.63.64.6
Dividend Payout Ratio (%)0%0%0%54%69%95%57%63%98%76%

Balance Sheet

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 1,6281,7651,9872,1232,2672,0532,1442,2682,2392,364
Share Capital ⓘ 666673681687691694696697697697
Reserves ⓘ 9621,0911,3061,4361,5761,3591,4481,5711,5421,667
Minority Interest0000000000
Debt2231741308339444
Long Term Debt122116688339444
Short Term Debt10158620000000
Trade Payables25243428293139475390
Others Liabilities ⓘ 41-85-42-126-1573116915043222
Total Liabilities ⓘ 1,9171,8782,1082,0322,1422,1182,3612,4692,3392,680

Fixed Assets

Gross Block534431452326308513578636552822
Accumulated Depreciation476392396270237265286323344417
Net Fixed Assetsⓘ 5839555672249291313208406
CWIP ⓘ 01200000314
Investmentsⓘ 1,2461,2681,3451,2191,3161,1991,2871,3361,2881,265
Inventories0000000000
Trade Receivables234320372565433374535537637729
Cash Equivalents 26361614134616262152
Others Assetsⓘ 353214319179309251232257180215
Total Assets ⓘ 1,9171,8782,1082,0322,1422,1182,3612,4692,3392,680

Cash Flow

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity ⓘ 51777841222388418416270348
PBT ⓘ 160176219219223212425453311380
Adjustment ⓘ 117133-7266511011686104
Changes in Working Capital ⓘ -194-70-107-11217143-54-54-68-71
Tax Paid ⓘ -32-42-37-59-45-33-64-99-59-65
Cash Flow From Investing Activity ⓘ -51-21-104124-10677-146-5047-26
Capex 10-15-31-20-42-33-66-35-21-53
Net Investments -64-6-74143-64125-77-336432
Others ⓘ 31000-15-4184-6
Cash Flow From Financing Activityⓘ -3-456-166-117-433-307-356-319-297
Net Proceeds from Shares ⓘ 1112161014-18000
Net Proceeds from Borrowing ⓘ 00-16-108-5-510-5-3-1
Interest Paid ⓘ -15-9-7-7-2-16-15-20-15-17
Dividend Paid ⓘ 0000-125-376-204-238-238-241
Others ⓘ 1-4812-620-35-106-93-62-39
Net Cash Flow ⓘ -310-20-1-232-359-224

Finance Ratio

Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)10.918.9210.059.349.078.4317.4717.5711.0213.89
ROCE (%)10.529.6710.8710.4110.1310.4520.720.9514.0416.79
Asset Turnover Ratio0.50.460.470.420.370.440.590.660.570.64
PAT to CFO Conversion(x)0.310.510.410.211.122.131.141.071.091.09
Working Capital Days
Receivable Days84115134198237157125123156156
Inventory Days0000000000
Payable Days0000000000

Firstsource Solutions Ltd Stock News

Firstsource Solutions Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Firstsource Solution on 20-May-2025 16:59 is ₹367.7.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 20-May-2025 16:59 the market cap of Firstsource Solution stood at ₹26,490.7.
The latest P/E ratio of Firstsource Solution as of 20-May-2025 16:59 is 62.03.
The latest P/B ratio of Firstsource Solution as of 20-May-2025 16:59 is 10.25.
The 52-week high of Firstsource Solution is ₹422.8 and the 52-week low is ₹176.7.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Firstsource Solution is ₹2,312 ( Cr.) .

About Firstsource Solutions Ltd

Firstsource Solutions Limited, incorporated in 2001, is a leading player in the Business Process Management (BPM) industry. Part of the RP-Sanjiv Goenka Group, the company provides bespoke services and solutions to its customers across Banking and Financial Services, Healthcare, Communications, Media and Technology and other diverse industries.

The Company is a public limited company incorporated and domiciled in India having registered office at Mumbai, Maharashtra, India. The Company is listed on the Bombay Stock Exchange and National Stock Exchange in India.

Business area of the company

The company is engaged in the business of providing customer management services like contact center, transaction processing and debt collection services including revenue cycle management in the healthcare industry.

Business verticals

  • Retail and SME banking (customer experience, transaction processing)
  • Complaints and remediation (complaints handling, fraud management)
  • Commercial finance (invoice factoring, risk management)
  • Mortgages (loan processing, servicing, title and valuations)
  • Collections and Recoveries (credit card, auto and student loan collections)
  • FinTech

Awards and Accolades

2016-17

  • Welsh Contact Centre Awards, 2017: Won Award in three categories including ‘Diverse Workplace’, ‘Trainer of the Year’ and ‘Special Industry Champion’
  • Global HR Excellence Awards, 2017: Won in ‘Innovation in Retention Strategy’ category. Firstsource was recognised for its’ employee retention practices and policies
  • European Contact Centre & Customer Service Awards, 2016: Honoured with the Bronze Award in the ‘Customer Service Team of the Year’ in partnership with its client giffgaff
  • U.K. Customer Experience Awards, 2016: Won in the ‘Technology & Telecoms’ category in partnership with its client NOW TV and received the silver award in the ‘Engaging Customers Online’ category in partnership with its client giffgaff
  • Asia’s Best Employer Brand Awards, 2016: Won the ‘Best Employer Brand’ Award for its excellence in building the Employer Brand as an Employer of Choice
  • 100 Best Companies for Women in India: Recognised in the 100 Best Companies for ‘Women in India’ by the 2016 Working Mother & AVTAR Best Companies
  • Business in the Community Awards: Honoured as ‘Employer of Choice’ at the Business in The Community Northern Ireland Awards in Belfast
  • Best Adversity Management Stories of Asia, 2016: Secured the 1st Runner-up position at the ‘Best Adversity Management Stories of Asia’ 2016 Awards for its response to the Chennai floods in Nov-Dec 2015

2018-19

  • European Contact Centre and Customer Service Awards (ECCCSA) 2018: Awarded Bronze for ‘Best Outsourcing Partnership’ for collaboration with Lloyds Banking Group
  • UK Complaints Handling (UKCH) Awards 2019: Won the ‘Customer Insight Strategy’ Award and was adjudged the ‘Overall Winner’ at the UK Complaints Handling (UKCH) Awards 2019, with NOWTV
  • North East Contact Centre Awards (NECCA): Awarded the ‘Best Outsourcing Partnership 2018’ with TSB, reinstating its strong partnership ethos
  • Wales HR Award: Recognised for the ‘Best HR Team’ with outstanding individuals and teams, learning, and people management practices across Wales in the last 12 months
  • Welsh Contact Centre Awards 2019: Won two awards: Gold for ‘People Engagement’ and Silver for the ‘Best Support Manager of the Year’
  • Nasscom BPM Summit 2018: Awarded the coveted ‘Customer Service Excellence Award’ in the Process Efficiency category

2019-20

  • ‘Best Complaint Handling’ and ‘Best Complaint Handling Team of the Year – Financial Services’ at the UK Complaints Handling (UKCH) Awards 2020
  • ‘Technology-Enabled Project of the Year’ and ‘Customer Experience Provider of the Year’ at the Global Sourcing Association (GSA) UK Awards 2019
  • Winner of ‘Best Use of Technology in HR’ at Employee Engagement Summit, Mumbai, India
  • Gold Award for ‘Best Use of Customer Insight’ at the UK Customer Experience Award (CXA ’19)
  • ‘Outsourced Contact Centre of the Year’ recognition at the Contact Centre Network Northern Ireland (CCNNI) Awards 2019
  • Winner in ‘Creating an Impact: Business Skills’ category at the India Innovation Awards at Perspectives 2019
  • ‘Best Outsourcing Partnership’ at the North East Contact Centre Awards 2019
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