3 Business Process Services Company, Footwear Brand and Propellants and Explosives Maker Stocks With a Strong Future Roadmap: Firstsource Solutions, Bata India and Premier Explosives
- November 10, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Firstsource Solutions, Bata India and Premier Explosives: ROE of 10.4% to 17.1% and FY22 to FY26 revenue CAGR of 10.1% to 20.8%. Prices as of 9 Nov 2026.
Quick Answer
The three outsourcing, footwear and propellant stocks to watch are Firstsource Solutions, Bata India and Premier Explosives. Their return on equity ranges from 10.4% to 17.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.1% to 20.8%. Firstsource Solutions has the highest return on equity at 17.1%, while Premier Explosives has the fastest revenue growth at 20.8% a year. Prices are based on the 9 November 2026 close, and this article is educational, not investment advice.
Outsourcing, footwear and propellant stocks offer a focused view of a sector where demand keeps widening. Firstsource Solutions, Bata India and Premier Explosives cover a business process services company, a footwear brand and a propellants and explosives maker.
This list covers three outsourcing, footwear and propellant stocks with complete current figures: Firstsource Solutions, Bata India and Premier Explosives. Every figure comes from the latest reported financials and the 9 November 2026 market close. Companies without complete current figures were left out.
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What Are Outsourcing, Footwear and Propellant Stocks?
Outsourcing, footwear and propellant stocks are listed companies that provide customer care and business process services to global clients, make and sell footwear through a wide store network, and produce propellants and explosives for defence and space programmes. Their earnings depend on outsourcing contracts, consumer spending and programme orders.
Outsourcing, Footwear and Propellant Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Firstsource Solutions | 293.05 | 19,489 | 29.1 | 17.5 | 17.1 | 0.67 |
| Bata India | 642.55 | 8,187 | 56.0 | 37.0 | 10.4 | 0.87 |
| Premier Explosives | 513.8 | 3,722 | 111.0 | 48.1 | 15.8 | 0.11 |
On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing outsourcing, footwear and propellant stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Outsourcing, Footwear and Propellant Stocks Have a Strong Roadmap in India?
Outsourcing, footwear and propellant stocks have a strong roadmap in India because rising outsourcing of customer operations, growing demand for branded footwear and strong defence and space programmes keep widening the market for these companies.
- Business services. Global firms outsource customer operations.
- Footwear. Families buy more branded shoes.
- Propellants. Defence and space need specialised materials.
Why Firstsource Solutions Features Among These Outsourcing, Footwear and Propellant Stocks
Among the outsourcing, footwear and propellant stocks on this list, Firstsource Solutions, an RPG group company, is a business process management firm serving banks, healthcare payers and providers, and other clients, mainly in the United States and the United Kingdom.
In the June 2026 quarter, revenue grew 22.8% year on year to Rs 2,731 crore. Revenue rose 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 from Rs 537 crore in FY22 to Rs 674 crore in FY26, which works out to a compound annual growth rate of 5.9%. The company has a return on equity of 17.1%, a debt to equity ratio of 0.67 and a market capitalisation of Rs 19,489 crore. The stock trades at a P/E of 29.1, above the industry P/E of 17.5.
Roadmap: It is growing in healthcare and mortgage services, pursuing larger deals and using artificial intelligence to improve productivity. Longer contracts with large clients give it visibility on revenue.
What to watch: Follow contract wins in healthcare and the pace of new technology investments.
Why Bata India Features Among These Outsourcing, Footwear and Propellant Stocks
Among the outsourcing, shoe retail and defence chemical shares on this list, Bata India is the country’s largest footwear retailer, selling under the Bata, Hush Puppies, Power and other brands through a large network of company-owned and franchised stores.
The company has a return on equity of 10.4%, a debt to equity ratio of 0.87 and a market capitalisation of Rs 8,187 crore. The stock trades at a P/E of 56.0, above the industry P/E of 37.0.
Revenue rose from Rs 2,444 crore in FY22 to Rs 3,595 crore in FY26, a compound annual growth rate of 10.1%. Net profit grew from Rs 103 crore in FY22 to Rs 134 crore in FY26, which works out to a compound annual growth rate of 6.8%. In the June 2026 quarter, revenue grew 4.0% year on year to Rs 997 crore, while net profit rose 23.0% to Rs 64.0 crore.
Roadmap: The company is widening its range into sports, casual and premium footwear and adding stores in smaller towns. A trusted brand and deep retail reach support steady demand.
What to watch: Follow store additions, premium product mix and same-store sales.
Why Premier Explosives Features Among These Outsourcing, Footwear and Propellant Stocks
Among the three companies on this list, Premier Explosives makes industrial explosives, detonators, propellants and defence products, and is a supplier of rocket motors and solid propellants for strategic and space programmes.
Revenue rose from Rs 202 crore in FY22 to Rs 430 crore in FY26, a compound annual growth rate of 20.8%. Net profit grew from Rs 5.2 crore in FY22 to Rs 45.8 crore in FY26, which works out to a compound annual growth rate of 72.1%.
The company has a return on equity of 15.8%, a debt to equity ratio of 0.11 and a market capitalisation of Rs 3,722 crore. The stock trades at a P/E of 111.0, above the industry P/E of 48.1.
Roadmap: The company is moving up the value chain into defence and space propellants, which carry higher margins than civil explosives. Orders from strategic programmes and capacity expansion support the plan.
What to watch: Check the execution of defence and space orders, which can be uneven from one quarter to the next.
Firstsource Solutions vs Bata India vs Premier Explosives on Key Financials
The table below sets the three outsourcing, footwear and propellant stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Firstsource Solutions | 5,922 | 9,564 | 12.7% | 674 | 7.1% |
| Bata India | 2,444 | 3,595 | 10.1% | 134 | 3.7% |
| Premier Explosives | 202 | 430 | 20.8% | 45.8 | 10.6% |
Firstsource Solutions posts the highest return on equity in this group at 17.1%. Firstsource Solutions has the largest FY26 revenue at Rs 9,564 crore, and Premier Explosives shows the fastest revenue growth with a 20.8% compound annual rate. A useful habit with outsourcing, footwear and propellant stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Outsourcing, Footwear and Propellant Stocks
Every theme carries risks that deserve a check before any decision. For these outsourcing, footwear and propellant stocks, the main points are:
- Client spending. Technology budgets can vary with global conditions.
- Order timing. Defence and space orders can shift between periods.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter outsourcing, footwear and propellant stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Outsourcing, Footwear and Propellant Stocks
Outsourcing, footwear and propellant stocks reward patient research into demand, execution and financial strength. Firstsource Solutions, Bata India and Premier Explosives each have a clear plan to grow. Based on the 9 November 2026 close, Firstsource Solutions trades at Rs 293.05, Bata India at Rs 642.55 and Premier Explosives at Rs 513.8.
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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).
What are outsourcing, footwear and propellant stocks?
Ans. Outsourcing, footwear and propellant stocks are listed companies that provide customer care and business process services to global clients, make and sell footwear through a wide store network, and produce propellants and explosives for defence and space programmes. Their earnings depend on outsourcing contracts, consumer spending and programme orders. This list looks at three of them, Firstsource Solutions, Bata India and Premier Explosives, using reported FY22 to FY26 financials and the 9 November 2026 closing prices.
Which outsourcing, footwear and propellant stocks are covered in this list?
Ans. This list covers Firstsource Solutions, Bata India and Premier Explosives. Based on the 9 November 2026 close, Firstsource Solutions traded at Rs 293.05, Bata India at Rs 642.55 and Premier Explosives at Rs 513.8. Their return on equity ranges from 10.4% to 17.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.1% to 20.8%.
Why do outsourcing, footwear and propellant stocks have a strong future roadmap in India?
Ans. Outsourcing, footwear and propellant stocks have a strong roadmap in India because rising outsourcing of customer operations, growing demand for branded footwear and strong defence and space programmes keep widening the market for these companies. The main drivers are as follows. Business services. Global firms outsource customer operations. Footwear. Families buy more branded shoes. Propellants. Defence and space need specialised materials. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Firstsource Solutions performed financially?
Ans. Revenue rose 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 from Rs 537 crore in FY22 to Rs 674 crore in FY26, which works out to a compound annual growth rate of 5.9%. In the June 2026 quarter, revenue grew 22.8% year on year to Rs 2,731 crore. The company has a return on equity of 17.1%, a debt to equity ratio of 0.67 and a market capitalisation of Rs 19,489 crore. The stock trades at a P/E of 29.1, above the industry P/E of 17.5. Looking ahead, it is growing in healthcare and mortgage services, pursuing larger deals and using artificial intelligence to improve productivity. Longer contracts with large clients give it visibility on revenue.
How has Bata India performed financially?
Ans. Revenue rose from Rs 2,444 crore in FY22 to Rs 3,595 crore in FY26, a compound annual growth rate of 10.1%. Net profit grew from Rs 103 crore in FY22 to Rs 134 crore in FY26, which works out to a compound annual growth rate of 6.8%. In the June 2026 quarter, revenue grew 4.0% year on year to Rs 997 crore, while net profit rose 23.0% to Rs 64.0 crore. The company has a return on equity of 10.4%, a debt to equity ratio of 0.87 and a market capitalisation of Rs 8,187 crore. The stock trades at a P/E of 56.0, above the industry P/E of 37.0. Looking ahead, the company is widening its range into sports, casual and premium footwear and adding stores in smaller towns. A trusted brand and deep retail reach support steady demand.
How has Premier Explosives performed financially?
Ans. Revenue rose from Rs 202 crore in FY22 to Rs 430 crore in FY26, a compound annual growth rate of 20.8%. Net profit grew from Rs 5.2 crore in FY22 to Rs 45.8 crore in FY26, which works out to a compound annual growth rate of 72.1%. The company has a return on equity of 15.8%, a debt to equity ratio of 0.11 and a market capitalisation of Rs 3,722 crore. The stock trades at a P/E of 111.0, above the industry P/E of 48.1. Looking ahead, the company is moving up the value chain into defence and space propellants, which carry higher margins than civil explosives. Orders from strategic programmes and capacity expansion support the plan.
What risks should investors check before buying outsourcing, footwear and propellant stocks?
Ans. Investors should check a few risks before buying outsourcing, footwear and propellant stocks. Client spending. Technology budgets can vary with global conditions. Order timing. Defence and space orders can shift between periods. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of outsourcing, footwear and propellant stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 9 November 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.