Archive · 30 Sep 2025
Firstsource Solutions: Broker Initiates with 'Add' Rating
Firstsource Solutions, India's largest BPO, is recommended as a "buy" by a broker.
The company has an Annual Recurring Revenue of $1 billion and is well-diversified across micro-segments.
Despite past challenges, a broker builds a positive outlook, projecting strong revenue and earnings growth.
The recommendation is based on the potential for increased earnings.
Firstsource Solutions (FSL) is India’s largest BPO service provider.
The company has an Annual Recurring Revenue (ARR) of $1 billion.
The company is diversified across multiple segments.
The broker anticipates a 13% USD revenue CAGR over FY25-28E.
The broker initiates coverage with an 'Add' rating and a target price of ₹370.
- Who
- Firstsource Solutions
- What
- A broker initiated coverage with an 'Add' rating.
- When
- Published on September 30, 2025
- Where
- India
- Why
- The broker anticipates growth and earnings visibility.
- Company
- Firstsource Solutions (FSL)
- Recommendation
- Add
- Target Price
- ₹370
- Current Market Price (CMP)
- ₹329.30
- ARR
- $1 billion
- Projected Revenue CAGR (FY25-28E)
- 13% USD
- Projected EPS CAGR (FY25-28E)
- 25%