| Management target | Revenue 10.5% FY27 |
|---|
| Revenue growth | Q2 +22.2% YoY INR; +12.3% CC |
|---|---|
| Margins | EBIT 12.5% Q2, +100bps YoY, +10bps QoQ |
| Order book | Four large deal wins in Q2FY27 |
| Demand visibility | Q2FY27 exit deal pipeline described as healthy |
| Management confidence | Guides FY27 revenue at top decile of peers |
Growth
Q2 revenue +22.2% YoY (+12.3% CC, +2.0% QoQ CC). Q2 EBIT +32.1% YoY. Q2 PAT +29.7% YoY. H1FY27 revenue +22.5% YoY INR.
Outlook
FY27 CC revenue growth guided 10.5-13%; EBIT margin 12.25-12.75%. Medium term: double-digit CC growth and 50-75bps EBIT margin expansion.
Risks
Large INR-vs-CC gap (22.2% vs 12.3%) signals FX tailwind. Q1 exceptional items INR 563mn. Client concentration and ramp-up execution remain flagged risks.
Last quarter's promises, checked
Delivered
- Guided 50-75bps/yr EBIT margin expansion → +100bps YoY (= BEAT)
- Guided 10-15 new logos/qtr → 17 new logos (= BEAT)
Partly delivered
- Guided FY27 CC revenue growth 10-13% → Q2 CC +12.3% YoY; FY range now 10.5-13% (= PARTIAL)
- Guided FY27 EBIT margin 12.25-12.75% → Q2 EBIT margin 12.5% (= PARTIAL)
Missed
- Guided 1-1.5% FY27 growth from healthcare BPaaS client → engagement wound down, contribution lost (= MISS)
Investor Presentation filed with NSE, NSE: FSL. Summary written with AI assistance from the document.
Firstsource Solutions Ltd: key numbers
- Share price
- ₹307.40
- Market cap
- ₹21,440 Cr
- Revenue (annual)
- ₹9,556 Cr
- Net profit (annual)
- ₹674.4 Cr
- P/E (TTM)
- 31.9×Sector 22.9×
- Promoter holding
- 53.66%+0.00% QoQ
- FII holding
- 7.44%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Firstsource Solutions Ltd
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Firstsource delivers solid sequential growth led by BFS, while raising the floor of their full-year revenue guidance despite healthcare volatility.
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- Key figure
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