| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 2,826 | 2,312 | +22.2% |
| EBITDA | 471 | 376 | +25.1% |
| EBITDA margin | 16.7% | 16.3% | +0.4 pts |
| Profit before tax | 299 | 224 | +33.4% |
| Net profit | 232 | 180 | +29.5% |
| EPS | ₹3.37 | ₹2.60 | +29.6% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 21,464 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 409 | 309 | 216 | 205 | 211 | ||
| 0.0 | 0.4 | 0.4 | 0.4 | 0.4 | ||
| 1,937 | 1,937 | 1,533 | 812 | 827 | ||
| 22,992 | — | — | — | — | ||
| 10,577 | 9,556 | 7,980 | 6,336 | 6,022 | ||
| — | +19.7% | +25.9% | +5.2% | — | ||
| 1,755 | 1,556 | 1,208 | 956 | 827 | ||
| 16.6% | 16.3% | 15.1% | 15.1% | 13.7% | ||
| 1,295 | 1,122 | 881 | 696 | 563 | ||
| 724 | 674 | 594 | 515 | 514 | ||
| 6.8% | 7.1% | 7.5% | 8.1% | 8.5% | ||
| ₹10.39 | ₹9.68 | ₹8.53 | ₹7.39 | ₹7.37 | ||
| — | +13.5% | +15.5% | +0.2% | — | ||
| — | 1,214 | 701 | 645 | 795 | ||
| — | −196 | −241 | −85.1 | −53.6 | ||
| 1,018 | 1,018 | 460 | 560 | 741 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 21,463.8 | |
| - Cash, Equiv & ST Investments | 211.1 | 204.8 | 215.8 | 308.7 | 409.0 | |
| + Minority Interest | 0.4 | 0.4 | 0.4 | 0.4 | 0.0 | |
| + Total Debt | 827.0 | 812.3 | 1,532.7 | 1,937.5 | 1,937.5 | |
| Enterprise Value | — | — | — | — | 22,992.3 | |
| Revenue | 6,022.3 | 6,336.2 | 7,980.3 | 9,556.4 | 10,577.0 | |
| Growth %, YoY | — | +5.2 | +25.9 | +19.7 | — | |
| EBITDA | 826.5 | 956.4 | 1,207.6 | 1,556.2 | 1,754.9 | |
| Margin % | 13.72 | 15.09 | 15.13 | 16.28 | 16.59 | |
| EBIT | 563.3 | 696.2 | 880.6 | 1,122.1 | 1,294.6 | |
| Net Income | 513.7 | 514.7 | 594.5 | 674.4 | 723.9 | |
| Margin % | 8.53 | 8.12 | 7.45 | 7.06 | 6.84 | |
| EPS, Adj (current shares) | 7.37 | 7.39 | 8.53 | 9.68 | 10.39 | |
| Growth %, YoY | — | +0.2 | +15.5 | +13.5 | — | |
| Cash from Operations | 795.0 | 644.8 | 701.1 | 1,214.0 | — | |
| Capital Expenditures | -53.6 | -85.1 | -241.2 | -195.7 | — | |
| Free Cash Flow | 741.4 | 559.7 | 459.9 | 1,018.3 | 1,018.3 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
Firstsource Solutions (NSE: FSL) had a market capitalisation of ₹21,359 crore at the 29 October 2026 close (₹306.45 a share), a PE ratio of 29.5 on the last four quarters' profit and a price-to-book ratio of 4.38. In FY26 its consolidated net profit was ₹674 crore on revenue of ₹9,556 crore; in Q2 FY27 (July–September 2026) it was ₹233 crore, up 29.7% year on year. Its debt-to-equity ratio was 0.40 on 30 September 2026. Promoters held 53.66% of the shares on 30 September 2026.
Firstsource Solutions' PE ratio is 29.5 at the 29 October 2026 close (₹306.45 a share): a market capitalisation of ₹21,359 crore divided by consolidated net profit of ₹724 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit (₹674 crore) it is 31.7. These four quarters include net exceptional items of −₹172 crore (one-off charges reported separately), so the ratio on recurring profit would differ.
Firstsource Solutions' price-to-book (PB) ratio is 4.38 at the 29 October 2026 close: a market capitalisation of ₹21,359 crore divided by shareholders' equity (book value) of ₹4,878 crore on 30 September 2026. That is a book value of ₹69.98 per share against a share price of ₹306.45.
In FY26, Firstsource Solutions' return on equity (ROE) was 15.9% and its return on capital employed (ROCE) was 19.8%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 15.3% and ROCE 17.7%.
Firstsource Solutions' market capitalisation was ₹21,359 crore at the 29 October 2026 close: 69.7 crore shares at ₹306.45 each.
Firstsource Solutions' basic earnings per share (EPS) were ₹9.77 in FY26, against ₹8.63 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹10.48.
In 2026, Firstsource Solutions has declared one dividend: ₹5.50 (interim) with record date 20 February 2026.
No. Firstsource Solutions had borrowings of ₹1,941 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.40. Its cash and current investments were ₹416 crore, so its net debt was ₹1,525 crore.
Firstsource Solutions' debt-to-equity ratio was 0.40 on 30 September 2026: borrowings of ₹1,941 crore against total equity of ₹4,878 crore. A year earlier, on 30 September 2025, it was 0.32.
Promoters held 53.66% of Firstsource Solutions on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
Firstsource Solutions' net worth — shareholders' equity in its consolidated balance sheet — was ₹4,878 crore on 30 September 2026, up 11.7% from ₹4,366 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹21,359 crore at the 29 October 2026 close.
Firstsource Solutions' book value per share was ₹69.98 on 30 September 2026: shareholders' equity of ₹4,878 crore divided by the 69.7 crore shares in issue, up 11.7% from ₹62.64 a year earlier. The share price at the 29 October 2026 close was ₹306.45.
Firstsource Solutions' dividend yield is 1.79% at the 29 October 2026 close: dividends of ₹5.50 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹306.45. They were ₹5.50 on 20 February 2026 (interim).
On 30 September 2026, Firstsource Solutions' shares were held by promoters 53.66%, foreign portfolio investors (FII/FPI) 7.44%, domestic institutions (DII) 26.84% (including mutual funds at 19.24%) and retail and other non-institutional investors 11.34%. Over the year, FII holding was down 1.81 percentage points from 9.25% and DII holding was up 2.22 percentage points from 24.62%.
In FY26, Firstsource Solutions generated ₹1,214 crore of cash from operations and spent ₹196 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹1,018 crore. In FY25 it was ₹460 crore.
Firstsource Solutions' latest results are for Q2 FY27 (July–September 2026), filed on 29 October 2026: consolidated net profit ₹233 crore, up 29.7% from ₹180 crore in Q2 FY26; revenue from operations ₹2,826 crore, up 22.2% year on year.
In FY26 (April 2025–March 2026), Firstsource Solutions' consolidated net profit was ₹674 crore, up 13.5% from ₹594 crore in FY25, on revenue from operations of ₹9,556 crore (up 19.7%). Over three years, from FY23, net profit was up 31.3%.
Firstsource Solutions has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
On FY26 consolidated figures, against eClerx Services, Great Eastern Shipping and Brainbees Solutions: Firstsource Solutions' operating margin of 11.7% is the third highest of the four (eClerx Services 21.3%, Great Eastern Shipping 41.8%, Brainbees Solutions −1.7%; peer average 20.5%); its return on equity of 15.9% is the third highest of the four (eClerx Services 29.0%, Great Eastern Shipping 18.9%, Brainbees Solutions −2.9%; peer average 15.0%).
In FY26, Firstsource Solutions earned net profit of ₹674 crore on revenue of ₹9,556 crore, against ₹706 crore on ₹4,117 crore for eClerx Services. Firstsource Solutions' operating margin was 11.7% (eClerx Services 21.3%) and its return on equity 15.9% (eClerx Services 29.0%). At the 29 October 2026 close, Firstsource Solutions' market capitalisation was ₹21,359 crore against ₹15,237 crore for eClerx Services, and its PE ratio on FY26 profit 31.7 against 21.6.
From Firstsource Solutions' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.