Firstsource Solutions Limited · NSE:FSL
Firstsource Solutions — Q2 FY27 Earnings Presentation
24 slides from Firstsource Solutions's earnings presentation, Oct 29, 2026
Slide 1: Exchange filing cover letter for earnings presentation
29th October 2026 To: National Stock Exchange of India BSE Limited (Scrip Code: Limited (Scrip Code: FSL) 532809) Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Sub: Earnings Presentation We are en
Slide 2: Firstsource Solutions Earnings Presentation Q2FY27
Firstsource Solutions Earnings Presentation Q2FY27
Slide 3: Disclaimer
Disclaimer Certain statements in this presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties
Slide 4: About Us
About Us Established in 2001 Part ofRP-Sanjiv Goenka Group Public listing in 2007 Since 2012 Specialized BPS partner Leader in chosen verticals Deep domain intelligence; agent-first operations; Banking & Financial Services, Healthcare, compounding competitive advantage Communication, Media & Technol
Slide 5: We are a part of RP-Sanjiv Goenka Group
We are a part of RP-Sanjiv Goenka Group Too Yumm, a flavorful & better-for-you snacking India’s first fully integrated utility company, Group turnover of serving 4.7 Mn consumers across 7 locations Innovating in the personal care category through ~US$5 Bn* new-age brands Naturali and Within Beauty M
Slide 6: Our Verticals
Our Verticals BANKING & COMMUNICATION, DIVERSE HEALTHCARE FINANCIAL SERVICES MEDIA & TECHNOLOGY INDUSTRIES US$379m* 33% US$374m* 33% US$235m* 21% US$154m* 13% 1 of Top 2 14 of Top 20 Media & broadcast companies in the UK Mortgage lenders & servicers in the US 11 of Top 15 Health plans in the US 4 of
Slide 7: Our core strengths: Experienced leadership team
Our core strengths Experienced leadership team Ritesh Idnani Dinesh Jain Sohit Brahmawar Shamita Mukherjee Aniket Maindarkar Hasit Trivedi Kumaran Shanmuhan Chief Financial Officer Chief Operating Officer Chief Human Resources Chief Marketing Officer Chief Digital & AI Officer Chief Strategy Officer
Slide 8: Performance Highlights Q2FY27
Performance Highlights Q2FY27
Slide 9: Performance Summary | Q2FY27
Performance Summary | Q2FY27 REVENUE EBIT ₹ 28,256 Million ₹ 3,521 Million (US$ 296 Million) (Margin 12.5%) YoY growth of 22.2% YoY growth of 32.1% YoY constant currency growth of 12.3% YoY margin expansion of 100bps QoQ constant currency growth of 2.0% QoQ margin expansion of 10bps PROFIT AFTER TAX
Slide 10: Performance Summary | H1FY27
Performance Summary | H1FY27 REVENUE EBIT ₹ 55,505 Million ₹ 6,888 Million (US$ 584 Million) (Margin 12.4%) YoY growth of 22.5% YoY growth of 33.4% YoY constant currency growth of 12.3% YoY margin expansion of 100bps PROFIT AFTER TAX* EARNINGS PER SHARE (Diluted) ₹ 4,551 Million ₹ 5.66 (Margin 8.2%)
Slide 11: Key Deal Wins | Q2FY27
Key Deal Wins | Q2FY27 • We expanded our relationship with a leading UK-based MVNO for customer experience services across multiple markets, including transition of in-house operations to our offshore delivery center. • One of the Top 10 healthcare payers in North America, an existing client, select
Slide 12: Employee Base | Q2FY27
Employee Base | Q2FY27 • Total headcount of 39,937 employees • QoQ net headcount addition of 3,062 HCM Excellence Awards | 2026 • YoY net headcount addition of 3,940 Firstsource Named Among Learning and Development Leadership Development India’s Best Workplaces for Gold | Best Unique or Gold | Best
Slide 13: Awards & Recognitions | Q2FY27
Awards & Recognitions | Q2FY27 Firstsource was recognized as a Leader in Generative AI and Agentic AI Services ISG Provider Lens | 2026 Market Leader HFS recognized Firstsource among leaders in the shift to Services-as-Software HFS recognized Firstsource as growth, featured in the HFS Non-Linearity
Slide 14: Our FY27 guidance
Our FY27 guidance 10.5-13% Constant currency revenue growth 12.25-12.75% EBIT margin Copyright © 2026 Firstsource. All rights reserved. 13
Slide 15: Factsheet
DP firstsource’ — Factsheet © |
Slide 16: Cons. IndAS financials | Profit & Loss Statement
Cons. IndAS financials | Profit & Loss Statement In ₹ million FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 FY26 Q1FY27 Q2FY27 QoQ YoY Income from services 79,721 22,209 23,147 24,674 26,130 96,161 27,518 28,306 2.9% 22.3% Other operating income 82 (33) (25) (244) (296) (597) (269) (50) - - Revenue from operatio
Slide 17: Cons. IndAS financials | Balance Sheet
Cons. IndAS financials | Balance Sheet In ₹ million As on Mar 31, 2026 As on Sep 30, 2026 In ₹ million As on Mar 31, 2026 As on Sep 30, 2026 Assets Equity and liabilities Non-current assets Shareholder's Funds Fixed assets 3,403 3,533 Equity share capital 6,970 6,970 Right-of-use assets 8,558 8,475
Slide 18: Cons. IndAS financials | Cash Flow Statement
Cons. IndAS financials | Cash Flow Statement In ₹ million Half-year ended Sep 30, 2025 Half-year ended Sep 30, 2026 Cash flow from operating activities Net profit before taxation and non-controlling interest 4,376 5,187 Depreciation and amortization 2,068 2,330 Finance costs (for borrowings & lease
Slide 19: Operating Metrics | Q2FY27
Operating Metrics | Q2FY27 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Banking & Financial Services 34.4% 32.4% 33.4% 32.5% 33.2% 31.7% 32.2% 33.2% 35.5% Revenue by Healthcare 36.3% 34.0% 33.8% 33.4% 33.5% 32.1% 34.4% 33.0% 31.6% Vertical Communication, Media & Tech 21.3% 20.3% 21
Slide 20: Annexure
DP firstsource’ — Annexure © |
Slide 21: Financial performance snapshot | H1FY27
Financial performance snapshot | H1FY27 Revenue (in $ million) Revenue (in ₹ million) 16.0% -5.7% 2.0% 23.3% 14.6% 11.4% 16.6% 1.7% 5.2% 25.9% 19.7% 22.5% 14.6% -1.1% 1.1% 22.6% 13.6% 12.3% 55,505 584 95,564 1,082 79,803 944 63,362 60,223 59,212 795 765 750 50,780 685 FY21 FY22 FY23 FY24 FY25 FY26 H
Slide 22: Key performance indicators | H1FY27
Key performance indicators | H1FY27 Return on Equity (%) Return on Capital Employed (%) 20.2% 17.7% 17.6% 17.6% 17.7% 16.4% 15.6% 15.4% 15.4% 15.3% 14.5% 13.9% 13.4% 12.9% FY21 FY22 FY23 FY24 FY25 FY26 H1FY27* FY21 FY22 FY23 FY24 FY25 FY26 H1FY27* Cash Flow (in ₹ million) Debt Position (in ₹ million
Slide 23: Shareholder Returns
Shareholder Returns Stock performance: Last 3 years^ Total Shareholder Return^ NSE: FSL | BSE: 532809 | Reuters: FISO.BO| Bloomberg: FSOL:IN Share price return Market Capitalization: US$2.3bn 3 Year return 97% 8% Dividend yield Average daily trading volume (TTM): US$9mn 5 Year return 56% 10% 7 Year
Slide 24: About Firstsource Solutions Limited
Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL, BSE: 532809), is a global intelligence partner to enterprises across healthcare, banking and financial services, communications, media, technology, retail, and utilities. Its inch-wide, mile-deep practitioners work collabora
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