Firstsource Solutions Ltd is a leading Indian business process management (BPM) company and part of the RP-Sanjiv Goenka Group. Headquartered in Mumbai, it provides end-to-end digital transformation and outsourcing services across banking & financial services, healthcare, communications, media & technology, and other sectors. With a strong global client base—including Fortune 500 companies—and a “Digital First” strategy, Firstsource has emerged as a high-quality player in India’s $50+ billion BPM industry. The company reported robust 44% sales growth and 33.6% profit growth in FY2025, driven by digital adoption, acquisitions, and operational scaling. This article provides a data-backed outlook on the Firstsource Solutions share price target 2026–2030.
Firstsource Solutions Ltd: Company Overview
- Founded: 2001
- Headquarters: Mumbai, Maharashtra
- Key Segments: Banking & Financial Services (45%), Healthcare (25%), Communications & Technology (20%), Others (10%)
- Global Presence: Operations in India, the US, the UK, the Philippines, and Sri Lanka
- Ownership: 53.66% held by RP-Sanjiv Goenka Group (promoter-controlled)
Firstsource leverages AI, automation, and analytics to deliver outcome-based solutions—making it a preferred partner for clients seeking cost efficiency and digital agility.
Firstsource Solutions Ltd: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹320.00 |
| Market Capitalization | ₹22,685.97 Cr |
| No. of Shares Outstanding | 70.78 Cr |
| 52-Week High / Low | ₹423 / ₹270 |
| P/E Ratio (TTM) | 47.90 |
| P/B Ratio | 8.60 |
| EPS (TTM) | ₹6.69 |
| Book Value (TTM) | ₹37.28 |
| ROE | 17.66% |
| ROCE | 22.05% |
| Dividend Yield | 1.25% |
| Face Value | ₹10 |
| Cash | ₹28.89 Cr |
| Total Debt | ₹245.84 Cr |
| Debt-to-Equity | 0.09 |
| Sales Growth (YoY) | 44.06% |
| Profit Growth (YoY) | 33.58% |
| Promoter Holding | 53.66% |
Firstsource Solutions Ltd Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹345 – ₹385 |
| 2027 | ₹375 – ₹425 |
| 2028 | ₹405 – ₹470 |
| 2029 | ₹435 – ₹515 |
| 2030 | ₹465 – ₹560 |
Firstsource Solutions Ltd Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹345 | ₹385 |
Firstsource reported 44% YoY sales growth and 33.6% profit growth in FY2025, supported by strong digital demand and recent acquisitions (e.g., Pastdue Credit Solutions in Dec 2025). Trading at a P/E of 47.9x and P/B of 8.6x, the stock reflects a premium, but is justified by its 22% ROCE and scalable model. A 2026 target of ₹345–₹385 assumes continued client wins and margin stability.
Firstsource Solutions Ltd Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹375 | ₹425 |
The company’s focus on AI-driven BPM and outcome-based pricing supports long-term visibility. If EPS reaches ₹7.50–₹8.00 by FY27 and P/E holds at 48–50x, the 2027 range of ₹375–₹425 is realistic.
Firstsource Solutions Ltd Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹405 | ₹470 |
By 2028, benefits from global delivery expansion and higher-margin digital services should reflect in profitability. Assuming EPS of ₹8.00–₹8.80 and P/E of 49–52x, the ₹405–₹470 band is justified.
Firstsource Solutions Ltd Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹435 | ₹515 |
Long-term tailwinds include rising global outsourcing spend and India’s BPM leadership. Using a P/E of 50–54x on projected EPS (~₹8.50–₹9.50), the 2029 target is ₹435–₹515.
Firstsource Solutions Ltd Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹465 | ₹560 |
Over a five-year horizon, Firstsource’s value lies in its digital moat and promoter backing—not explosive scale. A terminal P/E of 52–56x on FY30 EPS (~₹9.00–₹10.00) supports the ₹465–₹560 range.
Firstsource Solutions Ltd: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (RP-SG Group) | 53.66% |
| Domestic Institutional Investors (DII) | 25.19% |
| Public & Retail | 11.95% |
| Foreign Institutional Investors (FII) | 9.20% |
| Others | 0.00% |
High promoter holding ensures strategic alignment, while rising institutional interest reflects confidence in execution.
Firstsource Solutions Ltd: Strengths vs Risks
Strengths:
- Industry-leading ROCE (22.05%) and consistent ROE (~17–18%)
- Strong sales momentum (44% YoY) and digital-led growth
- Low debt (D/E: 0.09) and healthy cash flow
- Backed by the reputable RP-Sanjiv Goenka Group
Risks:
- P/B of 8.6x leaves a limited margin for error
- Exposure to global economic slowdowns (US/UK clients)
- Intense competition from Genpact, Wipro BPO, and Accenture
- Minimal dividend yield (1.25%) limits income appeal
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate to High |
| Ideal Time Horizon | 3–5+ years |
| Volatility | Moderate (mid-cap IT services stock) |
| Dividend/Income Potential | Minimal (1.25% yield) |
| Best For | Growth-oriented investors seeking India’s digital services export story |
Final Verdict
Firstsource Solutions Ltd offers compelling exposure to India’s digital services export boom. While trading at a premium, its ROCE, growth trajectory, and strategic clarity justify a place in quality-focused portfolios. Our Firstsource share price target 2026–2030 (₹345 to ₹560) reflects realistic upside—rooted in fundamentals, not speculation.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Firstsource Consolidated Page (FY2025 + TTM)
- Finology Ticker – FSL Financial Ratios & Valuation
- Firstsource Investor Presentation (Q2 FY26, Nov 2025)
- BSE India – Annual Report FY2025
- NASSCOM BPM Industry Report 2025
