Firstsource Solutions Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings
- October 9, 2026
- Posted by: Kunal Singla
- Category: Market
Firstsource Solutions share price Rs 269.90 (9 October 2026). Base target Rs 304, bull Rs 368, downside risk Rs 213. PE 28.06. 52W range Rs 202.00 to Rs 371.75.
Quick Answer
The Firstsource Solutions share price target for 2027 is Rs 304, about 12.6% above the current price of Rs 269.90. The bull case is Rs 368, and the downside risk level, which is not a target, is Rs 213. The base case assumes earnings per share grow 14.1% a year, the pace seen from FY24 to FY26, with the stock holding its PE of 28.06. These are model-based estimates built from reported financials, not guaranteed outcomes.
Investors weighing a Firstsource Solutions target price for 2027 should start with where the stock sits today. At Rs 269.90 on 9 October 2026, it is 27.4% below its 52-week high of Rs 371.75 and 33.6% above its 52-week low of Rs 202.00. That range spans 84% from low to high, so the entry point matters as much as the Firstsource Solutions price forecast itself.
This article builds the Firstsource Solutions share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 304 base case and the Rs 368 bull case were reached, along with a downside risk level of Rs 213.
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Firstsource Solutions Stock Analysis: Company Overview and Key Stats
Firstsource Solutions (NSE: FSL) has a market capitalisation of Rs 18,828 crore. In FY26 it reported revenue of Rs 9,564 crore and net profit of Rs 674.41 crore. The table collects the figures the Firstsource Solutions share price target is built on.
| Metric | Value |
|---|---|
| Company | Firstsource Solutions |
| NSE Ticker | FSL |
| CMP (9 October 2026) | Rs 269.90 |
| 52-Week High | Rs 371.75 |
| 52-Week Low | Rs 202.00 |
| Market Cap | Rs 18,828 crore |
| PE Ratio (TTM) | 28.06 |
| Industry PE | 17.30 |
| Price to Book | 4.28 |
| Return on Equity | 17.13% |
| Debt to Equity | 0.67 |
| EPS (TTM) | Rs 9.49 |
| Dividend Yield | 2.04% |
| 12-Month Base Target | Rs 304 |
| Bull Case | Rs 368 |
| Downside Risk Level (not a target) | Rs 213 |
Why Is Firstsource Solutions Share Price Target Set at Rs 304 for 2027?
The base-case Firstsource Solutions stock target of Rs 304 applies a PE multiple of 28.06 to a forward EPS estimate of Rs 10.83. That EPS assumes 14.1% yearly growth, the pace from FY24 to FY26, and puts the target 12.6% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.
Earnings Growth Behind the Firstsource Solutions Target Price: Five Years of Results
Firstsource Solutions grew revenue from Rs 5,922 crore in FY22 to Rs 9,564 crore in FY26, a compound annual growth rate of 12.7%. Net profit grew more slowly, from Rs 536.53 crore to Rs 674.41 crore (5.9% a year), which points to margin pressure alongside the sales growth.
| Financial Year | Revenue (Rs Cr) | Net Profit (Rs Cr) | EPS (Rs) | Dividend per Share (Rs) |
|---|---|---|---|---|
| FY22 | 5,921.71 | 536.53 | 7.62 | 3.50 |
| FY23 | 6,153.17 | 513.71 | 7.32 | 3.50 |
| FY24 | 6,378.68 | 514.73 | 7.34 | 3.50 |
| FY25 | 7,979.45 | 594.45 | 8.42 | 4.00 |
| FY26 | 9,563.85 | 674.41 | 9.56 | 5.50 |
FY26 revenue growth was 19.9%, faster than the four-year average of 12.7%, and net profit moved up 13.5%. EPS rose from Rs 7.34 in FY24 to Rs 9.56 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.
Margins and the Latest Quarter
Firstsource Solutions converted 7.1% of FY26 revenue into net profit, against 7.4% in FY25, within a five-year range of 7.1% to 9.1%. EBITDA margin was 15.3% in FY26 versus 15.2% in FY25.
In the June 2026 quarter, revenue was Rs 2,731 crore, up 22.8% from the same quarter a year earlier, while net profit of Rs 165.92 crore was down 2.0%. EBITDA came in at Rs 457.42 crore, up 29.2% year on year. The next quarterly result is the first test of whether the earnings assumption holds.
Balance Sheet and Cash Flow
Debt to equity stands at 0.67, and shareholders’ equity grew from Rs 3,033 crore in FY22 to Rs 4,385 crore in FY26. Operating cash flow in FY26 was Rs 1,214 crore against capital expenditure of Rs 195.73 crore, leaving free cash flow of Rs 1,018 crore, or 5.4% of the current market capitalisation. In FY25 free cash flow was Rs 459.90 crore.
Valuation Check for the Firstsource Solutions Stock Target: PE, Price to Book and ROE
At a PE of 28.06 against an industry PE of 17.30, Firstsource Solutions trades at a premium to its industry. Price to book is 4.28 on a book value of Rs 62.16 per share, and return on equity is 17.13%. A PE of 28.06 equals an earnings yield of 3.6%, and the FY26 dividend of Rs 5.50 per share gives a yield of 2.04%.
Shareholding Pattern and Institutional Holding
Promoters held 53.66% of Firstsource Solutions in June 2026, and promoter holding has stayed near 53.66% since June 2025. Foreign institutional investors (FII) held 8.38% and domestic institutions (DII) held 25.41%, which puts total institutional holding at 33.79%. FII holding fell from 9.58% in June 2025 to 8.38% in June 2026. Public shareholders own the remaining 12.55%. A meaningful institutional holding adds a layer of research coverage and trading depth.
Firstsource Solutions Share Price Targets for the Short Term and 12 Months
Short Term Firstsource Solutions Stock Target Levels: Technical Setup
At Rs 269.90 on 9 October 2026, Firstsource Solutions trades below its 50-day simple moving average of Rs 272.28 and below its 200-day exponential moving average of Rs 271.34. The 14-day RSI reads 47.0, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 271.34 (200-day exponential moving average) and the nearest support is Rs 202.00 (52-week low). A sustained move above Rs 271.34 would improve the short-term setup, while a close below Rs 202.00 would shift attention to the next support.
12 Month Firstsource Solutions Target Price for 2027
The 12-month target for Firstsource Solutions is Rs 304: forward EPS of Rs 10.83 at a PE of 28.06. That is 12.6% above Rs 269.90. It would still leave the stock 18.2% below its 52-week high of Rs 371.75.
How EPS Growth and PE Multiple Change the Firstsource Solutions Target Price
| EPS Growth | PE 22.45 | PE 28.06 | PE 32.27 |
|---|---|---|---|
| 0.0% (EPS Rs 9.49) | Rs 213 | Rs 266 | Rs 306 |
| 14.1% (EPS Rs 10.83) | Rs 243 | Rs 304 | Rs 349 |
| 20.1% (EPS Rs 11.40) | Rs 256 | Rs 320 | Rs 368 |
Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Firstsource Solutions price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.
Bull Case and Downside Risk for Firstsource Solutions Stock Target in 2027
Bull Case Rs 368
The bull case Firstsource Solutions price target needs EPS growth of 20.1%, which lifts forward EPS to Rs 11.40, and a PE multiple that rises 15% to 32.27. That gives Rs 368, 36.3% above the current price and below the 52-week high of Rs 371.75.
Downside Risk Level Rs 213
The downside risk level is not a target. It assumes EPS stays flat at Rs 9.49 and the PE falls 20% to 22.45. That gives Rs 213, 21.1% below the current price and above the 52-week low of Rs 202.00.
| Scenario | EPS Growth | PE Multiple | Price (Rs) | Change vs CMP |
|---|---|---|---|---|
| Bull Case | 20.1% | 32.27 | Rs 368 | +36.3% |
| Base Case | 14.1% | 28.06 | Rs 304 | +12.6% |
| Downside Risk | 0.0% | 22.45 | Rs 213 | -21.1% |
Key Risks to the Firstsource Solutions Target Price for 2027
Growth Slowdown Risk for the Firstsource Solutions Price Target
Revenue in the June 2026 quarter was up 22.8% year on year, and FY26 revenue growth was 19.9%. If growth slows from here, the EPS estimate behind the Firstsource Solutions stock target will need revising.
Liquidity and Size Risk
Firstsource Solutions has a market capitalisation of Rs 18,828 crore. Institutional holding is 33.79%, and promoters hold 53.66%. Stocks of this size are usually liquid, though exits can take longer than entries when the market is falling.
Valuation and Margin Risk
Net margin was 7.1% in FY26, so a small slip in costs moves profit noticeably. At a PE of 28.06 versus an industry PE of 17.30, a de-rating toward the downside-risk PE of 22.45 would cut the price even if earnings hold.
Market and Technical Risk
The stock trades 27.4% below its 52-week high, with an RSI of 47.0 and a MACD reading above its signal line. Broader market weakness can override company fundamentals in the short term.
How to Invest in Firstsource Solutions
Start with the live price and volume. Any Firstsource Solutions share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 269.90 price before acting on any level.
Next, review the fundamentals yourself. The Univest Screener lets you check Firstsource Solutions’ PE, ROE, debt and shareholding in one place.
Check Firstsource Solutions fundamentals on the Univest Screener
Then compare the three Firstsource Solutions target price scenarios with your own view. If you expect EPS growth below 14.1%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.
Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.
Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.
Download the Univest iOS App or Univest Android App to track Firstsource Solutions live price and get daily stock recommendations.
Conclusion
The Firstsource Solutions share price target for 2027 is Rs 304 in the base case, with Rs 368 as the bull case. The support for that view is arithmetic you can check: EPS grew 14.1% a year over FY24 to FY26, and the stock trades at a PE of 28.06. The risks are equally concrete, including a stock that sits 27.4% below its 52-week high and a downside scenario that cuts the price 21% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Firstsource Solutions Share Price Target 2027
What is the Firstsource Solutions share price target for 2027?
Ans. The base-case Firstsource Solutions share price target for 2027 is Rs 304, with Rs 368 as the bull case. The downside risk level, which is not a target, is Rs 213. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.
What is the Firstsource Solutions share price today?
Ans. As of 9 October 2026, 1:18 PM IST, Firstsource Solutions trades at Rs 269.90, up 1.33% on the day. The 52-week range is Rs 202.00 to Rs 371.75.
Is Firstsource Solutions a buy or sell at the current price?
Ans. The data is mixed rather than one-sided: EPS has grown 14.1% a year over FY24 to FY26, but the stock is 27.4% below its 52-week high. Whether Firstsource Solutions fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.
What are the bull case target and downside risk level for Firstsource Solutions shares?
Ans. The bull case target is Rs 368, which assumes 20.1% EPS growth and a PE of 32.27. The downside risk level is Rs 213, which assumes flat EPS and a PE of 22.45. It marks a risk, not a target.
What are the main risks to the Firstsource Solutions price target?
Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 18,828 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.
What is the PE ratio of Firstsource Solutions and how does it compare with the industry?
Ans. The PE ratio of Firstsource Solutions is 28.06 against an industry PE of 17.30. Price to book is 4.28 and return on equity is 17.13%. The base case in the Firstsource Solutions price target holds this PE constant.
Who owns Firstsource Solutions, and what is the promoter holding?
Ans. Promoters held 53.66% of Firstsource Solutions in June 2026. FII held 8.38%, DII held 25.41% and the public held 12.55%.
What were Firstsource Solutions’ latest quarterly results?
Ans. In the June 2026 quarter, Firstsource Solutions reported revenue of Rs 2,731 crore (up 22.8% year on year) and net profit of Rs 165.92 crore (down 2.0%).
