Firstsource Solutions Limited (532809) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Firstsource Solutions Limited ₹173, price ₹251, upside -30.9%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹86.99 – ₹393.45 · fair‑value band ₹95.36 – ₹234.11 · the ₹250.70 price screens above the ₹173.20 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Firstsource Solutions Limited provides customized business process management services in India, the United States, the United Kingdom, the Philippines, and internationally.
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Firstsource Solutions Limited provides customized business process management services in India, the United States, the United Kingdom, the Philippines, and internationally. The company offers various services across the customer lifecycle, Including acquisition, account servicing, collection, and retentions; sales ledger administration and collection, cash management and administration, payroll, VAT, and tax management services; credit and bank cards, private label retail cards, automotive and personal loans, overdraft accounts, and mortgage collection services; healthcare collection services; and default management, prevention, and recovery solutions. It also provides contact center and back-office processing services; claims processing and adjudication, digital mailroom and document, enterprise claim, Omni channel contact center, provider data management and credentialing, quality assurance, and telehealth support services, as well as member enrollment, billing, and eligibility services; and MedAssist, a revenue cycle product suite to enhance the revenue for hospitals and patient experience. In addition, the company manages claims handling transactions, including claims management, adjudication, remediation, and fulfillment; origination, home equity, routine and default servicing, title, and closing and escrow underwriting services; invoice factoring and discounting, payroll finance, debtor protection, deal management and pay-outs, cash allocation, sales ledger management, account servicing, complaints handling, credit control, and payment recovery; and business process consulting services. It serves the banking and financial services, healthcare, telecom and media, insurance, mortgage, and utilities sectors. The company was formerly known as ICICI Onesource Limited and changed its name to Firstsource Solutions Limited in 2006. The company was founded in 2001 and is based in Mumbai, India. Firstsource Solutions Limited is a subsidiary of CESC Ventures Limited.
Stock analysis
Firstsource Solutions Limited (532809) currently trades at ₹250.70, while our model-based Fair Value estimate is ₹173.20, 30.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹180.08 per share, and 3 of the 26 models we run sit above the ₹250.70 price.
Bear case: the Asset-Based group reads lowest at ₹39.48, and 23 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹95.36 (bear) to ₹234.11 (bull), the price of ₹250.70 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 56/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Firstsource Solutions Limited reported revenue of ₹79.8B in FY2025 versus ₹50.8B in FY2021, a compound +12.0%/yr. Reported net income was ₹5.9B in FY2025, compounding +13.2%/yr from FY2021.
Key figures
Market cap ₹49.0B (≈ $509M) · P/E ratio 13.8 · P/S ratio 1.03 · EPS (TTM) ₹5.38 · Dividend yield 6.1% · Net margin 7.4% · Return on equity 13.4% · Return on assets (EBIT) 11.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 44% fair-value upside, at −31%, 532809 screens richer than that median.
Fair Value models
Bear ₹95.36Fair Value ₹173.20Bull ₹234.11
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹0.8810 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+25.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.3%
Start year 2020 (pandemic). Over 10 years: +10.2% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.0%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+16.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.1%
Dividend (yield on the price)6.1%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 11%
Compare Firstsource Solutions Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Information Technology Services · 464 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside+3.4% · Below median
Profitability
Return on equity (TTM)13.4% · Above median
Return on assets6.9% · Top 25%
Net margin (TTM)8.6% · Above median
Operating margin (TTM)11.1% · Above median
Growth and dividend
Revenue growth20.6% · Above median
Dividend yield (TTM)6.1% · Top 25%
Balance sheet
Debt / equity0.08× · Above median
Valuation Multiplesvs Information Technology Services median · lower = cheaper
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Is Firstsource Solutions Limited (532809) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹173.20 versus a price of ₹250.70, about −31% upside (overvalued).
What is the fair value of 532809?
Our model-based fair value for Firstsource Solutions Limited is ₹173.20 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹250.70.
What is the quality score of 532809?
Firstsource Solutions Limited has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Firstsource Solutions Limited (532809)?
Our model-based price target is the fair value of ₹173.20 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario ₹95.36, optimistic scenario ₹234.11. It is a calculation from audited fundamentals, not an analyst target.
What is the Firstsource Solutions Limited stock forecast for 2026?
Our models put fair value at ₹173.20, about −31% upside versus a price of ₹250.70 (overvalued). Cautious scenario ₹95.36, optimistic scenario ₹234.11. The calculation is refreshed regularly with new filings.
What is the revenue of Firstsource Solutions Limited (532809)?
Firstsource Solutions Limited reported trailing-twelve-month revenue of about ₹43.8B (latest available figure, as of Sep 24, 2026).
Does Firstsource Solutions Limited pay a dividend?
Firstsource Solutions Limited currently shows a dividend yield of about 6.05% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Firstsource Solutions Limited (532809)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Firstsource Solutions Limited it is ₹173.20 per share (as of Sep 24, 2026), against a price of ₹250.70. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Firstsource Solutions Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 532809 trades above its calculated fair value: price ₹250.70, fair value ₹173.20, a gap of about −31% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 532809?
No. The price is what the market pays today (₹250.70); the fair value is what the company's own numbers justify (₹173.20). For Firstsource Solutions Limited the two are ₹77.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Firstsource Solutions Limited worth?
The market values Firstsource Solutions Limited at about ₹49.0B (market capitalisation, as of Sep 24, 2026). Per share that is ₹250.70; our models calculate a fair value of ₹173.20 per share.
What do the bullish and bearish scenarios say about 532809?
Our models span a range for Firstsource Solutions Limited: cautious scenario ₹95.36, base ₹173.20, optimistic ₹234.11 per share (as of Sep 24, 2026, price ₹250.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 532809?
Firstsource Solutions Limited trades at a price-to-earnings ratio of 13.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹173.20 is built from several models across several years. Other multiples: P/B 1.2, P/S 1.1, EV/EBITDA 9.3.
How solid is the balance sheet of Firstsource Solutions Limited (532809)?
Balance-sheet figures for Firstsource Solutions Limited (as of Sep 24, 2026): return on equity 13.4%, debt of 0.08 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 532809 from its 52-week high?
Firstsource Solutions Limited trades at ₹250.70, about 30% below its 52-week high of ₹359.60 and 23% above the low of ₹204.25 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹173.20 is for.
Which stocks are comparable to Firstsource Solutions Limited?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Firstsource Solutions Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹250.70, calculated fair value ₹173.20 (−31%), Quality Score 56/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 532809 calculated?
We run Firstsource Solutions Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹173.20, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Firstsource Solutions Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Firstsource Solutions Limited (532809)?
The closing price on Oct 1, 2026 was ₹250.70. Our model-based fair value is ₹173.20, about −31% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Firstsource Solutions Limited right now?
The price sits above even our optimistic bull case (₹234.11). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹95.36 to ₹234.11) leaves room in how you read the outcome.
Key figures of Firstsource Solutions Limited
How large is the market capitalisation of Firstsource Solutions Limited (532809)?
The market capitalisation of Firstsource Solutions Limited is ₹49.0B (≈ $509M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Firstsource Solutions Limited (532809)?
The price-to-sales ratio of Firstsource Solutions Limited is 1.03 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Firstsource Solutions Limited (532809)?
Earnings per share at Firstsource Solutions Limited are ₹5.38 (price ÷ EPS = P/E 13.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Firstsource Solutions Limited (532809)?
The dividend yield of Firstsource Solutions Limited is 6.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Firstsource Solutions Limited (532809)?
The net margin of Firstsource Solutions Limited is 7.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Firstsource Solutions Limited (532809)?
The return on equity (ROE) of Firstsource Solutions Limited is 13.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Firstsource Solutions Limited (532809)?
On an EBIT basis the return on assets of Firstsource Solutions Limited is 11.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Firstsource Solutions Limited (532809)?
The operating margin of Firstsource Solutions Limited is 11.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Firstsource Solutions Limited (532809)?
Revenue at Firstsource Solutions Limited is growing +20.6% versus a year earlier (3y avg +10.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Firstsource Solutions Limited (532809)?
Earnings per share at Firstsource Solutions Limited are growing +54.6% versus a year earlier. How much earnings per share grew versus a year earlier.
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