FSL
Firstsource Solutions Limited (FSL) Stock Analysis
Firstsource Solutions Limited is an Indian BPM and customer-experience services company. It provides call-center, collections, and industry-process outsourcing to global clients in banking and healthcare. The company is part of the RPSG group. It is listed on Indian stock exchanges.
Technology › Information Technology Services
₹281.80
+5.78% 1W | -11.30% 52W
Market Cap
19.5k CR
P/E Ratio
29.6
52W High
₹371.8
52W Low
₹202
Div. Yield
1.91%
Beta
0.2
50 DMA
₹267.4
200 DMA
₹256.9
Profit Margin
6.7%
Inst. Own.
30.9%
🔥 APPROACHING RESISTANCE
🚀 BREAKOUT
Fundamentals
Profit & Loss
| Metric | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,529 | 1,540 | 1,597 | 1,670 | 1,791 | 1,925 | 2,102 | 2,161 | 2,218 | 2,312 | 2,443 | 2,583 | 2,725 |
| Expenses | 1,289 | 1,311 | 1,359 | 1,420 | 1,521 | 1,638 | 1,785 | 1,829 | 1,871 | 1,936 | 2,040 | 2,153 | 2,274 |
| Operating Profit | 240 | 229 | 237 | 250 | 270 | 287 | 318 | 333 | 347 | 376 | 403 | 430 | 451 |
| OPM % | 16% | 15% | 15% | 15% | 15% | 15% | 15% | 15% | 16% | 16% | 16% | 17% | 17% |
| Other Income | 2 | 17 | 15 | 3 | 2 | -3 | 7 | 2 | 7 | 1 | -97 | -2 | -66 |
| 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 |
| Profit before tax | 155 | 154 | 161 | 159 | 167 | 171 | 201 | 202 | 213 | 224 | 152 | 261 | 219 |
| Tax % | 19% | 18% | 20% | 16% | 19% | 19% | 20% | 20% | 21% | 20% | 21% | 21% | 24% |
| Net Profit | 126 | 127 | 129 | 134 | 135 | 138 | 160 | 161 | 169 | 180 | 120 | 205 | 166 |
| EPS in Rs | 1.79 | 1.80 | 1.83 | 1.90 | 1.92 | 1.96 | 2.27 | 2.27 | 2.39 | 2.54 | 1.70 | 2.90 | 2.35 |
| Metric | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,035 | 3,217 | 3,556 | 3,535 | 3,826 | 4,099 | 5,078 | 5,921 | 6,022 | 6,336 | 7,980 | 9,556 | 10,064 |
| Expenses | 2,645 | 2,819 | 3,109 | 3,064 | 3,274 | 3,445 | 4,239 | 4,939 | 5,165 | 5,329 | 6,737 | 7,952 | 8,403 |
| Operating Profit | 390 | 398 | 447 | 471 | 552 | 654 | 839 | 982 | 858 | 1,008 | 1,244 | 1,605 | 1,660 |
| OPM % | 13% | 12% | 13% | 13% | 14% | 16% | 17% | 17% | 14% | 16% | 16% | 17% | 16% |
| Other Income | 7 | 9 | 3 | 5 | 4 | 9 | -114 | 1 | 131 | 37 | 8 | -91 | -163 |
| Interest | 80 | 61 | 54 | 53 | 46 | 83 | 87 | 86 | 110 | 155 | 184 | 230 | 190 |
| Depreciation | 72 | 61 | 59 | 66 | 74 | 185 | 206 | 249 | 263 | 260 | 327 | 434 | 451 |
| Profit before tax | 244 | 286 | 337 | 358 | 436 | 394 | 432 | 647 | 615 | 630 | 741 | 850 | 856 |
| Tax % | 4% | 9% | 17% | 9% | 13% | 14% | 16% | 17% | 16% | 18% | 20% | 21% | |
| Net Profit | 234 | 261 | 279 | 327 | 378 | 340 | 362 | 537 | 514 | 515 | 594 | 674 | 671 |
| EPS in Rs | 3.52 | 3.87 | 4.11 | 4.76 | 5.47 | 4.90 | 5.20 | 7.69 | 7.33 | 7.31 | 8.41 | 9.54 | 9.49 |
| Dividend Payout % | 0% | 0% | 0% | 32% | 37% | 51% | 58% | 45% | 47% | 47% | 47% | 57% |
Growth — CAGR
| Metric | 3Y | 5Y | 10Y |
|---|---|---|---|
| Revenue CAGR | 17.0% | 13.0% | 12.0% |
| Profit CAGR | 14.0% | 10.0% | 11.0% |
Shareholding Pattern
Promoters53.66%
FIIs9.25%
DIIs24.63%
Public11.59%
Promoters53.66%
FIIs9.20%
DIIs25.19%
Public11.11%
Promoters53.66%
FIIs8.85%
DIIs25.49%
Public11.05%
Promoters53.66%
FIIs8.38%
DIIs25.41%
Public11.71%
Promoters53.66%
FIIs7.44%
DIIs26.84%
Public11.33%
Promoters53.66%
FIIs8.95%
DIIs15.06%
Public20.09%
Promoters53.66%
FIIs9.59%
DIIs19.27%
Public16.15%
Promoters53.66%
FIIs10.07%
DIIs22.90%
Public12.26%
Promoters53.66%
FIIs8.85%
DIIs25.49%
Public11.05%
Promoters53.66%
FIIs7.44%
DIIs26.84%
Public11.33%
FSL
Holdings Analysis
Key strengths & risk signals
69
Overall
64
Fundamental
74
Technical
Risks (2)
LOW MARGIN! 6.7% profit margin - thin profits.
WEAK YEAR! Stock declined 11.3% in the last year.
Strengths (4)
PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.
BULLISH TREND! 50-day average (267.4) is above 200-day average (256.9) - positive signal.
BULLISH SENTIMENT! In last 30 days: 11 up days, 19 down days. Avg volume on up days: 7,590,570 vs down days: 1,054,192. Ratio: 7.2x
LOW VOLATILITY! Beta of 0.20 - stable stock, less market risk.
Fundamental & Technical Analysis
69Overall
64Fundamental
74Technical
Fundamental Breakdown
Growth Quality
21/30
Revenue CAGR: 17.1% (VERY GOOD, 13/15). Profit CAGR: 9.5% (MODERATE, 8/15).
Profit Margin
3/10
LOW MARGIN! 6.7% profit margin - thin profits.
PEG Valuation
3/10
OVERVALUED! PEG of 3.12 means expensive relative to growth rate.
Dividend Yield
5/10
LOW DIVIDEND! 1.91% yield - minimal income contribution.
Debt to Equity
6/10
MODERATE DEBT! D/E of 0.63 - acceptable leverage.
Public Holding
16/20
LESS PUBLIC HOLDING! 19.12% public ownership - good institutional/promoter control.
Stability Index
10/10
PERFECT RECORD! Revenue has grown consistently every year. Exceptional business stability.
Technical Breakdown
Moving Averages
10/10
BULLISH TREND! 50-day average (267.4) is above 200-day average (256.9) - positive signal.
Price Position
8/10
STRONG POSITION! Current price (281.8) is above both moving averages.
Trend Pattern
10/20
AT RESISTANCE! Stock is at key resistance level.
52W Performance
2/10
WEAK YEAR! Stock declined 11.3% in the last year.
Volume Sentiment
30/30
BULLISH SENTIMENT! In last 30 days: 11 up days, 19 down days. Avg volume on up days: 7,590,570 vs down days: 1,054,192. Ratio: 7.2x
RSI
3/5
NEUTRAL! RSI at 58.5 - balanced momentum.
52W Range
3/5
MID RANGE! Trading at 47.0% of 52W range - neutral zone.
Momentum
3/5
MIXED MOMENTUM! Price growth is inconsistent - 5.8% (1 week), -0.6% (1 month), 5.8% (3 months).
Beta
5/5
LOW VOLATILITY! Beta of 0.20 - stable stock, less market risk.
FSL
Concall / Investor Presentation
Earnings call transcripts & AI summaries
| Quarter | Concall | Summary |
|---|---|---|
| Q1FY272026-08-11 | Concall PDF | |
| Q4FY262026-05-12 | Concall PDF | |
| Q3FY262026-02-05 | Concall PDF | |
| Q2FY262025-11-06 | Concall PDF |
Peer Comparison
Technology · Information Technology Services · 8 stocks
| Stock | Price | P/E | Profit Margin | Revenue CAGR 5Y | Profit CAGR 5Y | 52W Change | Stock Strength | Trendline | YoY Profit | QoQ Profit | YoY Revenue | QoQ Revenue |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FSL | ₹281.80 | 29.6 | 6.7% | 17.1% | 9.5% | -11.3% | 69 | APPROACHING RESISTANCE | -2.0% | -19.2% | +23.9% | +5.3% |
| ECLERX | ₹1,998.20 | 26.1 | 16.8% | 15.8% | 13.0% | -3.8% | 77 | BREAKOUT | +15.9% | -13.3% | +23.3% | +4.1% |
| CAMS | ₹704.90 | 35.5 | 31.8% | 16.0% | 18.6% | -9.4% | 77 | BREAKOUT | +17.3% | +1.3% | +11.5% | -0.1% |
| ZENSARTECH | ₹504.40 | 15 | 13.4% | 5.5% | 33.2% | -36.8% | 76 | BREAKOUT | +1.0% | -12.7% | +8.9% | +4.0% |
| BSOFT | ₹309.50 | 15.2 | 10.6% | 3.5% | 16.1% | -13.2% | 74 | BREAKOUT | +51.3% | -8.5% | +7.4% | +2.3% |
| SONATSOFTW | ₹245.10 | 14.7 | 4.2% | 12.8% | 0.9% | -32.7% | 57 | BOUNCE FROM SUPPORT | -1.1% | -17.2% | +10.6% | +29.3% |
| MASTEK | ₹1,756.20 | 13.1 | 11.1% | 13.0% | 11.3% | -21.0% | 66 | BOUNCE FROM SUPPORT | +15.1% | -0.3% | +7.7% | +5.0% |
| HAPPSTMNDS | ₹333.10 | 22.5 | 9.3% | 17.4% | -2.7% | -35.1% | 49 | BOUNCE FROM SUPPORT | +18.4% | +10.5% | +14.3% | +4.0% |
Data from TradeAlone · Updated daily
FSL News
Firstsource Solutions Limited (FSL) Named Among India’s Best Workplaces ™ for Women 20262026-09-25Firstsource Solutions Limited (FSL) Partners with Cresta to Drive Ai-powered Customer Experience Transformation2026-08-11Firstsource Solutions Limited (FSL) gives up ground after breakout, falls 5% intraday2026-08-07Firstsource Solutions Limited (FSL) gives up ground after breakout, falls 12% intraday2026-08-06Firstsource Solutions Limited (FSL) gives up ground after breakout, falls 6% intraday2026-08-06Firstsource Solutions Limited (FSL) Q1fy27 Earnings: Revenue Up 22.9%, PAT Surges 34.8%2026-08-06Firstsource Solutions Limited (NSE: FSL) breaks out, gains 6% intraday2026-08-03Firstsource Solutions Limited (FSL) breaks out, gains 10% intraday2026-07-29Firstsource Solutions Limited (NSE: FSL) breaks out, gains 7% intraday2026-07-29Firstsource Solutions Limited (NSE: FSL) clears resistance, gains 5% intraday2026-07-10Firstsource Solutions Limited (FSL) Announces Measurable Outcomes from Strategic Partnership with Appliedai2026-06-01Firstsource Solutions Reports Q4fy26 Earnings With 29.8% Profit Growth2026-05-06
