Integrated Filing — IndAS



General information about company

Scrip Code 532809
NSE Symbol FSL
MSEI Symbol NOTLISTED
ISIN INE684F01012
Name of company Firstsource Solutions Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 03-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 20-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 03-02-2026   15:00:00
End date and time of board meeting 03-02-2026   16:05:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 2,44,307.70 6,97,294.00
Other income 362.00 916.10
Total income 2,44,669.70 6,98,210.10
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 1,43,117.40 4,11,364.20
(e) Finance costs 4,325.00 12,944.70
(f) Depreciation, depletion and amortisation expense 11,119.90 31,800.20
(f) Other Expenses
1 Services rendered by business associates and others 17,264.50 49,987.50
2 Technology and applications support cost 8,119.40 22,749.30
3 Legal and professional fees 8,092.60 21,162.30
4 Communication expenses 6,558.10 17,626.20
5 Rent, net 3,217.80 10,203.40
6 Repairs, maintenance and upkeep 3,301.30 9,277.80
7 Travel and conveyance 2,041.40 6,304.40
8 Marketing and support fees 1,655.50 5,698.50
9 Car hire charges 1,667.50 4,966.60
10 Miscellaneous expenses, net 9,007.10 25,377.60
Total other expenses 60,925.20 1,73,353.60
Total expenses 2,19,487.50 6,29,462.70
3 Total profit before exceptional items and tax 25,182.20 68,747.40
4 Exceptional items (10,014.50) (9,823.40)
5 Total profit before tax 15,167.70 58,924.00
6 Tax expense
7 Current tax 3,883.90 13,460.20
8 Deferred tax (749.10) (1,452.90)
9 Total tax expenses 3,134.80 12,007.30
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 12,032.90 46,916.70
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 12,032.90 46,916.70
17 Other comprehensive income net of taxes (57.60) (10,019.90)
18 Total Comprehensive Income for the period 11,975.30 36,896.80
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 12,033.40 46,918.10
Total profit or loss, attributable to non-controlling interests (0.50) (1.40)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 11,975.80 36,897.60
Total comprehensive income for the period attributable to owners of parent non-controlling interests (0.50) (0.80)
21 Details of equity share capital
Paid-up equity share capital 69,699.10 69,699.10
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.74 6.79
Diluted earnings (loss) per share from continuing operations 1.71 6.65
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.74 6.79
Diluted earnings (loss) per share from continuing and discontinued operations 1.71 6.65
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. The audited consolidated financial results for the quarter and nine months ended December 31, 2025 have been approved by the Board of Directors at its meeting held on February 3, 2026. The statutory auditors have expressed an unmodified audit opinion. The financial results presented above is extracted from the audited condensed interim consolidated financial statements for the quarter and nine months ended December 31, 2025. These condensed interim consolidated financial statements are prepared in accordance with the Indian Accounting Standards 34 ('Ind AS 34') 'Interim Financial Reporting', as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereunder. 2. Exceptional Items for the quarter ended December 31, 2025 consist of : a) The Government of India notified the provisions of the four new Labour Codes (Labour Codes) on November 21, 2025, thereby consolidating twenty-nine existing labour laws into a comprehensive and unified framework. Among other changes, the Labour Codes provide a unified definition of wages to be applied across various employee benefit computations. In accordance with Ind AS 19 - Employee Benefits, the Group has recognised one-time expense of Rs. 913.53 million towards increase in liability in respect of gratuity and compensated absences . On notification of the rules under Labour Codes, the Group shall recognize additional impact, if any. b) Provision for impairment of investment in associate of Rs. 87.92 million. 3. The Company through its wholly owned subsidiary Firstsource Solutions UK Limited signed Share Purchase Agreement on July 18, 2025 to acquire 100% ownership in Pastdue Credit Solutions Limited (“PDC”), headquartered at UK for an aggregate consideration of GBP 22 million, including contingent consideration of GBP 4.40 million. PDC is engaged in the business of providing white-label, early arrears and debt collections and recovery services. The Company completed the acquisition on December 11, 2025, after obtaining all requisite regulatory approvals. Of the purchase consideration paid, Rs. 912.40 million has been allocated to the fair value of identified net assets and Rs. 1,802.07 million has been allocated to goodwill on a provisional basis, pending conclusion of the purchase price allocation exercise. Adjustments, if any, will be carried out during the measurement period, which shall not exceed one year from the acquisition date. 4. The Board of directors at its meeting held on February 3, 2026 has declared an interim dividend of Rs. 5.50 per equity share.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Banking and Financial Services 78,114.00 2,27,151.60
2 Healthcare 79,251.20 2,31,097.00
3 Communication, Media and Technology 52,371.90 1,52,250.80
4 Diverse Industries 37,007.60 89,808.20
Total Segment Revenue 2,46,744.70 7,00,307.60
Less: Inter segment revenue 0.00 0.00
Revenue from operations 2,46,744.70 7,00,307.60
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Banking and Financial Services 14,091.10 43,777.10
2 Healthcare 10,760.00 30,189.30
3 Communication, Media and Technology 10,635.90 27,621.40
4 Diverse Industries 4,725.30 9,873.70
Total Profit before tax 40,212.30 1,11,461.50
i. Finance cost 4,325.00 12,944.70
ii. Other Unallocable Expenditure net off Unallocable income 20,719.60 39,592.80
Profit before tax 15,167.70 58,924.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Banking and Financial Services 0.00 0.00
2 Healthcare 0.00 0.00
3 Communication, Media and Technology 0.00 0.00
4 Diverse Industries 0.00 0.00
Total Segment Asset 0.00 0.00
Un-allocable Assets 0.00 0.00
Net Segment Asset 0.00 0.00
4 Segment Liabilities
Segment Liabilities
1 Banking and Financial Services 0.00 0.00
2 Healthcare 0.00 0.00
3 Communication, Media and Technology 0.00 0.00
4 Diverse Industries 0.00 0.00
Total Segment Liabilities 0.00 0.00
Un-allocable Liabilities 0.00 0.00
Net Segment Liabilities 0.00 0.00
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the Chief Operating Decision Maker (‘CODM’), in deciding how to allocate resources and in assessing performance. Operating segments are identified based on the internal organization at the Balance Sheet date. With the objective of internal financial reporting and decision making of the Group, the CODM has reviewed the manner in which the Group views the business risks and returns and monitors its operations. Accordingly, the group has identified business segment which comprises of Banking and Financial Services, Healthcare, Communication, Media and Technology and Diverse Industries. Revenues and expenses directly attributable to the segments are reported under each reportable segment. The accounting principles used in the preparation of the segment information are consistently applied to record revenue and expenditure in individual business segments. Assets and liabilities used in the Group’s business are not directly identified to any of the operating segments, as these are used interchangeably between segments. Allocation of such assets and liabilities is not practicable and any forced allocation would not result in any meaningful segregation. Hence assets and liabilities have not been identified to any of the reportable segments by the Group.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of the net defined benefit liability / asset (1,062.40) (1,062.40)
Total Amount of items that will not be reclassified to profit and loss (1,062.40) (1,062.40)
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
1 Net changes in fair value on derivatives designated as cash flow hedges (1,814.20) (25,303.00)
2 Exchange difference on translation of foreign operations 3,466.60 13,795.80
Total Amount of items that will be reclassified to profit and loss 1,652.40 (11,507.20)
4 Income tax relating to items that will be reclassified to profit or loss 647.60 (2,549.70)
5 Total Other comprehensive income (57.60) (10,019.90)





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Deloitte Haskins Sells LLP Yes 31-07-2027