Firstsource Solutions Earnings Call Transcript: Key Takeaways

Guidance and delivery
Revenue guidance	10.0% → 10.5% Raised by 0.5 percentage points
Management target	Revenue 10.5% FY27

Highlights
Revenue growth	22.2% YoY reported; 12.3% YoY constant currency.
Margins	EBITDA margin at 12.5%, up 100 bps YoY.
Order book	4 large deals signed; 17 new logos added this quarter.
Demand visibility	Strong BFS demand; Healthcare stabilizing after program transitions.
Management confidence	High; management highlighted hitting 100 quarters since inception.

Growth

Constant currency revenue grew 12.3% YoY and 2% QoQ, driven by significant expansion in Banking and Financial Services.

Full-year FY27 constant currency revenue growth guidance raised to 10.5%–13% from 10%–13%.

Softness in healthcare sequential growth (-2%) and high attrition in the BPO-style business model (28.4%) remain key operational drags.

Guided FY27 CC revenue growth 10–13% → floor raised to 10.5–13%, not yet delivered (= PARTIAL)
Guided FY27 EBIT margin 12.25–12.75% → current 12.5% reported as EBITDA, metric not comparable (= PARTIAL)

Guided ~1–1.5% FY27 growth from BPaaS healthcare program → program deramped, contribution lost (= MISS)

Source

Earnings Call Transcript filed with NSE, NSE: FSL. Summary written with AI assistance from the document.

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.