Firstsource Solutions Ltd

Firstsource Solutions is engaged in the business of providing customer management services like contact center, transaction processing and debt collection services including revenue cycle management in the healthcare industry.(Source : 201903 Annual Report Page No: 102)

  • Market Cap: 3,278 Cr.
  • Current Price: 47.40
  • 52 weeks High / Low 57.85 / 36.50
  • Book Value: 31.73
  • Stock P/E: 16.64
  • Dividend Yield: 4.20 %
  • ROCE: 10.03 %
  • ROE: 8.93 %
  • Sales Growth (3Yrs): -4.25 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Pros:
Company is virtually debt free.
Stock is providing a good dividend yield of 4.20%.
Company has been maintaining a healthy dividend payout of 41.03%
Cons:
The company has delivered a poor growth of -3.49% over past five years.
Tax rate seems low
Company has a low return on equity of 9.23% for last 3 years.
Earnings include an other income of Rs.76.12 Cr.
Company has high debtors of 205.71 days.
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: IT - Software // Industry: Computers - Software - Medium / Small

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019
240 244 212 211 194 202 192 191 183 208 221 252
176 183 158 147 139 142 143 139 158 138 170 180
Operating Profit 65 61 54 64 56 61 49 52 25 70 50 71
OPM % 27% 25% 25% 30% 29% 30% 26% 27% 14% 34% 23% 28%
Other Income 3 5 5 2 1 2 3 4 53 5 5 14
Interest -2 2 2 -1 3 0 0 0 0 3 4 5
Depreciation 4 5 5 6 6 6 6 6 7 16 17 18
Profit before tax 65 59 51 61 49 57 46 49 71 55 34 62
Tax % 16% 14% 14% 16% 5% 18% 12% 7% 7% 11% 12% 16%
Net Profit 55 51 44 51 46 47 40 46 66 49 30 52
EPS in Rs 0.80 0.74 0.64 0.75 0.68 0.69 0.58 0.66 0.95 0.70 0.43 0.76
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
494 553 662 703 754 881 917 914 875 940 861 768 863
391 490 541 605 688 745 727 706 676 710 627 581 647
Operating Profit 103 64 121 98 66 136 190 208 198 230 235 187 216
OPM % 21% 12% 18% 14% 9% 15% 21% 23% 23% 24% 27% 24% 25%
Other Income 23 272 28 56 102 93 15 19 18 15 13 62 76
Interest 25 270 35 27 66 53 18 21 9 7 7 2 12
Depreciation 53 52 52 57 60 58 53 46 32 19 22 24 58
Profit before tax 47 13 62 70 42 117 134 160 176 219 219 223 222
Tax % -23% -15% -8% 5% -8% 0% 0% -2% 14% 14% 12% 11%
Net Profit 58 15 67 66 45 117 134 164 151 188 192 199 197
EPS in Rs 1.35 0.35 1.57 1.54 1.05 1.78 2.04 2.46 2.25 2.77 2.80 2.88 2.84
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 54% 69%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:3.33%
5 Years:-3.49%
3 Years:-4.25%
TTM:10.61%
Compounded Profit Growth
10 Years:30.26%
5 Years:8.18%
3 Years:10.45%
TTM:9.79%
Stock Price CAGR
10 Years:4.87%
5 Years:6.87%
3 Years:1.45%
1 Year:14.35%
Return on Equity
10 Years:8.79%
5 Years:9.34%
3 Years:9.23%
Last Year:8.93%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
427 428 429 431 431 658 660 666 673 681 687 691 693
Reserves 88 515 560 492 449 575 720 962 1,100 1,318 1,448 1,588 1,508
Borrowings 1,124 1,343 1,206 1,335 1,196 120 194 235 193 186 16 11 205
505 136 75 194 217 268 195 100 91 118 98 89 84
Total Liabilities 2,145 2,422 2,270 2,452 2,293 1,620 1,769 1,963 2,056 2,303 2,249 2,380 2,490
109 137 111 157 137 96 86 58 39 55 56 72 244
CWIP 6 7 6 0 2 2 0 0 1 2 0 0 0
Investments 1,701 1,865 1,111 1,105 1,192 1,169 1,173 1,246 1,268 1,345 1,219 1,316 1,268
329 414 1,042 1,189 963 354 510 658 748 901 974 992 978
Total Assets 2,145 2,422 2,270 2,452 2,293 1,620 1,769 1,963 2,056 2,303 2,249 2,380 2,490

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
83 47 157 78 92 330 -17 51 77 78 41 221
-1,306 -61 -88 28 222 600 0 -51 -21 -105 124 -106
1,014 -2 -73 29 -395 -970 20 -3 -45 6 -166 -117
Net Cash Flow -210 -16 -3 136 -82 -41 3 -3 10 -21 -1 -1

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 5% 14% 4% 4% 5% 10% 10% 10% 9% 11% 10% 10%
Debtor Days 80 95 55 79 75 34 74 93 133 144 239 206
Inventory Turnover