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: 2,937 Cr.
  • Current Price: 42.35
  • 52 weeks High / Low 57.85 / 36.50
  • Book Value: 39.05
  • Stock P/E: 8.28
  • Dividend Yield: 4.71 %
  • ROCE: 15.20 %
  • ROE: 14.78 %
  • Sales Growth (3Yrs): 5.95 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Pros:
Stock is trading at 1.08 times its book value
Stock is providing a good dividend yield of 4.71%.
Cons:
The company has delivered a poor growth of 4.26% over past five years.
Tax rate seems low
Company might be capitalizing the interest cost
Dividend payout has been low at 12.19% of profits over last 3 years
** 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 Consolidated Figures in Rs. Crores / View Standalone

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
885 892 878 873 887 897 919 955 985 967 980 985
778 793 777 763 771 765 791 822 849 829 814 852
Operating Profit 107 99 101 110 116 132 128 133 136 138 166 132
OPM % 12% 11% 11% 13% 13% 15% 14% 14% 14% 14% 17% 13%
Other Income 1 -0 5 0 3 -3 2 1 1 1 -1 8
Interest 10 11 11 10 10 9 6 6 7 9 13 15
Depreciation 16 11 15 16 17 17 18 18 19 19 44 45
Profit before tax 83 76 79 84 91 104 106 108 111 111 107 81
Tax % 16% 15% 18% 18% -9% 11% 16% 14% 11% 12% 15% 16%
Net Profit 70 65 65 69 100 93 89 93 98 98 91 67
EPS in Rs 1.03 0.96 0.96 1.01 1.46 1.36 1.29 1.35 1.42 1.42 1.32 0.97
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

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
1,299 1,749 1,971 2,055 2,255 2,819 3,106 3,035 3,217 3,556 3,535 3,826 3,917
1,064 1,562 1,693 1,766 2,059 2,525 2,735 2,645 2,819 3,109 3,064 3,274 3,344
Operating Profit 234 187 278 290 196 293 371 390 398 447 471 552 573
OPM % 18% 11% 14% 14% 9% 10% 12% 13% 12% 13% 13% 14% 15%
Other Income 45 71 24 21 39 46 2 7 9 3 5 4 9
Interest 50 111 54 46 69 92 94 80 61 54 53 46 44
Depreciation 86 96 87 89 89 88 76 72 61 59 66 74 127
Profit before tax 143 51 160 175 76 159 203 244 286 337 358 436 409
Tax % 9% 39% 15% 20% 18% 8% 5% 4% 9% 17% 9% 13%
Net Profit 132 31 136 139 62 147 193 234 260 280 327 378 355
EPS in Rs 3.08 0.72 3.17 3.22 1.44 2.23 2.92 3.52 3.87 4.11 4.76 5.47 5.13
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 37%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:8.14%
5 Years:4.26%
3 Years:5.95%
TTM:7.07%
Compounded Profit Growth
10 Years:28.73%
5 Years:14.66%
3 Years:13.65%
TTM:-5.04%
Stock Price CAGR
10 Years:3.05%
5 Years:8.28%
3 Years:0.72%
1 Year:-10.28%
Return on Equity
10 Years:11.46%
5 Years:13.70%
3 Years:14.66%
Last Year:14.78%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

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 313 951 995 992 999 1,056 1,432 1,422 1,104 1,347 1,665 2,030 2,015
Borrowings 1,255 1,395 1,358 1,493 2,112 1,276 1,189 1,031 891 965 667 557 1,159
642 328 287 409 504 512 545 472 509 602 541 546 392
Total Liabilities 2,637 3,102 3,069 3,325 4,045 3,503 3,825 3,592 3,176 3,595 3,560 3,823 4,259
2,102 2,507 2,248 2,263 2,498 2,514 2,730 2,444 2,022 2,068 2,080 2,223 2,701
CWIP 9 7 8 11 9 2 0 8 2 4 2 2 0
Investments 22 2 101 133 80 3 5 73 85 163 34 134 85
504 586 712 919 1,459 984 1,089 1,066 1,067 1,360 1,444 1,465 1,473
Total Assets 2,637 3,102 3,069 3,325 4,045 3,503 3,825 3,592 3,176 3,595 3,560 3,823 4,259

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
227 175 172 246 6 199 396 246 297 200 315 385
-1,415 -88 -147 -60 -476 583 -13 -104 -101 -233 96 -203
990 -92 1 17 333 -881 -286 -246 -207 4 -327 -258
Net Cash Flow -199 -6 25 203 -137 -98 96 -105 -11 -30 84 -76

Ratios Consolidated Figures in Rs. Crores / View Standalone

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 % 12% 7% 8% 7% 4% 7% 9% 10% 12% 14% 13% 15%
Debtor Days 58 50 48 42 57 50 35 35 34 31 39 37
Inventory Turnover