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 06-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 22-04-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth 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 06-05-2026   11:30:00
End date and time of board meeting 06-05-2026   13:08:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
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 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 2,58,345.40 9,55,639.40
Other income (170.80) 745.30
Total income 2,58,174.60 9,56,384.70
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 1,47,664.90 5,59,029.10
(e) Finance costs 5,201.90 18,146.60
(f) Depreciation, depletion and amortisation expense 11,608.70 43,408.90
(f) Other Expenses
1 Services rendered by business associates and others 20,712.90 70,700.40
2 Technology and applications support cost 8,723.60 31,472.90
3 Legal and professional fees 8,135.60 29,297.90
4 Communication expenses 6,891.70 24,517.90
5 Rent, net 3,286.80 13,490.20
6 Repairs, maintenance and upkeep 3,630.00 12,907.80
7 Travel and conveyance 2,829.60 9,134.00
8 Marketing and support fees 2,667.70 8,366.20
9 Car hire charges 1,607.70 6,574.30
10 Miscellaneous expenses, net 9,153.20 34,530.80
Total other expenses 67,638.80 2,40,992.40
Total expenses 2,32,114.30 8,61,577.00
3 Total profit before exceptional items and tax 26,060.30 94,807.70
4 Exceptional items 0.00 (9,823.40)
5 Total profit before tax 26,060.30 84,984.30
6 Tax expense
7 Current tax 5,227.90 18,688.10
8 Deferred tax 307.90 (1,145.00)
9 Total tax expenses 5,535.80 17,543.10
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 20,524.50 67,441.20
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 20,524.50 67,441.20
17 Other comprehensive income net of taxes 7,941.80 (2,078.10)
18 Total Comprehensive Income for the period 28,466.30 65,363.10
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 20,524.40 67,442.50
Total profit or loss, attributable to non-controlling interests 0.10 (1.30)
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 28,465.63 65,363.23
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.70 (0.10)
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 3,68,753.90
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 2.97 9.77
Diluted earnings (loss) per share from continuing operations 2.91 9.56
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 2.97 9.77
Diluted earnings (loss) per share from continuing and discontinued operations 2.91 9.56
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. Figures for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between the audited consolidated financial statements in respect of the full year and the audited consolidated condensed interim financial statements for nine months ended December 31, 2025 and December 31, 2024 respectively, which are prepared in accordance with the Ind AS prescribed under section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time. These results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 6, 2026. The statutory auditors have expressed an unmodified audit opinion on these results. 2. The Company through its wholly owned subsidiary Firstsource Health Plans and Healthcare Services, LLC on January 13, 2026, has acquired 100% ownership in Jaye Inc. d/b/a TeleMedik (“Telemedik”) for a purchase consideration not to exceed USD 3 million (as per Share Purchase Agreement), including contingent consideration of USD 1 million. Telemedik, a Puerto Rico based outsourced service provider offering healthcare and telehealth solutions. Of the purchase consideration paid, Rs 57.66 million has been allocated to the fair value of identified net assets and Rs 146.02 million has been allocated to goodwill. 3.Revenue from operations includes Other operating income, net. Cashflow notes 1.Other adjustments for which cash effects are investing or financing cash flow: includes Profit on sale / redemption of investments Rs (60.44) million, and Loss on sale of property,plant and equipment,net Rs 17.77 million 2.Cash flows used in obtaining control of subsidiaries or other businesses: includes Payment of contingent consideration towards acquisition Rs 517.72 million and Payment towards acquisition of businesses Rs 2638.48 million 3.Other cash payments to acquire equity or debt instruments of other entities: includes Purchase of current investments Rs 32408.37 million and Purchase of non-current investment Rs 279.48 million 4.Other inflows (outflows) of cash: includes Earmarked balances with banks Rs 11.57 million.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 31,034.60
Capital work-in-progress 2,992.00
Investment property 85,582.00
Goodwill 4,26,553.40
Other intangible assets 13,513.80
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 6,577.30
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Deposits 9,179.50
Total of other non-current financial assets 9,179.50
Total non-current financial assets 15,756.80
Deferred tax assets (net) 39,104.10
Other non-current assets
1 Income tax assets (net) 8,958.10
2 Capital advances 14.40
3 Deferred contract cost 29,221.70
4 Unexpired rebate from customer 0.00
5 Prepaid expenses 3,043.60
Total of other non-current assets 41,237.80
Total non-current assets 6,55,774.50
2 Current assets
Inventories 0.00
Current financial asset
Current investments 5,015.60
Trade receivables, current 2,07,858.90
Cash and cash equivalents 25,858.40
Bank balance other than cash and cash equivalents 1,068.80
Loans, current 0.00
Other current financial assets
Total of other current financial assets 2,354.90
Total current financial assets 2,42,156.60
Current tax assets (net) 0.00
Other current assets
1 Deferred contract cost 9,997.00
2 Prepaid expenses 16,298.40
3 Indirect tax recoverable 6,252.10
4 Other advances 1,525.30
Total of other current assets 34,072.80
Total current assets 2,76,229.40
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 9,32,003.90
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 69,699.10
Other equity 3,68,753.90
Total equity attributable to owners of parent 4,38,453.00
Non controlling interest 39.50
Total equity 4,38,492.50
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 18,967.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Lease liabilities 73,153.70
2 Foreign currency forward contracts (net) 22,568.40
3 Contingent Consideration 711.20
Total of other non-current financial liabilities 96,433.30
Total non-current financial liabilities 1,15,400.30
Provisions, non-current 11,395.00
Deferred tax liabilities (net) 18,864.10
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 1,45,659.40
Current liabilities
Current financial liabilities
Borrowings, current 1,74,780.10
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 55,793.30
Total Trade payable 55,793.30
Other current financial liabilities
1 Lease liabilities 25,288.70
2 Book credit in bank account 2,194.20
3 Foreign currency forward contracts (net) 23,480.60
4 Interest accrued but not due 838.70
5 Employee benefits payable 26,906.70
6 Creditors for capital goods 238.30
7 Unclaimed dividends 405.10
8 Contingent considerations 10,631.30
Total of other current financial liabilities 89,983.60
Total current financial liabilities 3,20,557.00
Other current liabilities 14,046.10
1 Value added tax 5,370.30
2 Tax deducted at source 2,279.20
3 Advance from customer 1,227.80
4 Other Statutory Dues 4,987.80
5 Other liabilities 181.00
Total of other current liabilities 14,046.10
Provisions, current 9,733.10
Current tax liabilities (Net) 3,515.80
Deferred government grants, Current 0.00
Total current liabilities 3,47,852.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 4,93,511.40
Total equity and liabilites 9,32,003.90
Disclosure of notes on assets and liabilities Textual Information(1)



Text Block

Textual Information(1) 1.Investment property includes Right-of-use assets Rs 8558.20 million



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 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
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 84,130.50 3,11,282.10
2 Healthcare 89,810.00 3,20,907.00
3 Communication, Media and Technology 52,121.30 2,04,372.10
4 Diverse Industries 35,242.70 1,25,050.90
Total Segment Revenue 2,61,304.50 9,61,612.10
Less: Inter segment revenue
Revenue from operations 2,61,304.50 9,61,612.10
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Banking and Financial Services 17,172.20 60,949.30
2 Healthcare 12,621.40 42,810.70
3 Communication, Media and Technology 10,922.50 38,543.90
4 Diverse Industries 3,715.30 13,589.00
Total Profit before tax 44,431.40 1,55,892.90
i. Finance cost 5,201.90 18,146.60
ii. Other Unallocable Expenditure net off Unallocable income 13,169.20 52,762.00
Profit before tax 26,060.30 84,984.30
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 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
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 152.80 (909.60)
2 Net changes in fair value of investment in equity shares carried at FVOCI 3,442.20 3,442.20
Total Amount of items that will not be reclassified to profit and loss 3,595.00 2,532.60
2 Income tax relating to items that will not be reclassified to profit or loss 631.60 631.60
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 (20,505.40) (45,808.40)
2 Exchange difference on translation of foreign operations 16,699.40 30,495.20
Total Amount of items that will be reclassified to profit and loss (3,806.00) (15,313.20)
4 Income tax relating to items that will be reclassified to profit or loss (8,784.40) (11,334.10)
5 Total Other comprehensive income 7,941.80 (2,078.10)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 84,984.30
Adjustments for reconcile profit (loss)
Adjustments for finance costs 18,146.60
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current (34,353.50)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (18,620.40)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 0.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 22,150.60
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 43,408.90
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 763.20
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 8,559.30
Adjustments for dividend income 0.00
Adjustments for interest income 407.00
Adjustments for share-based payments 6,338.50
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (426.70)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 9,823.40
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 55,382.90
Net cash flows from (used in) operations 1,40,367.20
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 18,969.60
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 1,21,397.60
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 31,562.00
Other cash receipts from sales of equity or debt instruments of other entities 3,26,153.80
Other cash payments to acquire equity or debt instruments of other entities 3,26,878.50
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 6,331.70
Purchase of property, plant and equipment 19,572.50
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 407.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (115.70)
Net cash flows from (used in) investing activities (45,236.20)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 4,998.80
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 20,187.00
Repayments of borrowings 0.00
Payments of lease liabilities 25,969.40
Dividends paid 38,012.90
Interest paid 17,883.50
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (66,677.60)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 9,483.80
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 953.40
Net increase (decrease) in cash and cash equivalents 10,437.20
Cash and cash equivalents cash flow statement at beginning of period 15,421.20
Cash and cash equivalents cash flow statement at end of period 25,858.40





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