Firstsource Solutions Limited Net Assets
Firstsource Solutions Limited net assets. Based on the latest financial reports, Firstsource Solutions Limited (FSL) has net assets worth Rs44.96 Billion INR (≈ $486.24 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs87.91 Billion ≈ $950.72 Million USD) and total liabilities (Rs42.95 Billion ≈ $464.49 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore how fast is Firstsource Solutions Limited growing its equity to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Rs44.96 Billion |
| % of Total Assets | 51.14% |
| Annual Growth Rate | 12.18% |
| 5-Year Change | 46.37% |
| 10-Year Change | 68.85% |
| Growth Volatility | 36.33 |
Net Assets of Firstsource Solutions Limited (2005–2025)
Net assets of Firstsource Solutions Limited from 2005 to 2025. This chart illustrates how Firstsource Solutions Limited's net assets have evolved over time, based on quarterly financial data. See FSL net asset quality index to measure how much of total assets are equity-financed.
Annual Net Assets for Firstsource Solutions Limited (2005–2025)
The table below shows the annual net assets of Firstsource Solutions Limited from 2005 to 2025. For live market cap and overall valuation, see market cap of Firstsource Solutions Limited.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | Rs40.98 Billion ≈ $443.19 Million |
+10.73% |
| 2024-03-31 | Rs37.01 Billion ≈ $400.23 Million |
+9.91% |
| 2023-03-31 | Rs33.67 Billion ≈ $364.15 Million |
+11.01% |
| 2022-03-31 | Rs30.33 Billion ≈ $328.04 Million |
+8.34% |
| 2021-03-31 | Rs28.00 Billion ≈ $302.79 Million |
+1.22% |
| 2020-03-31 | Rs27.66 Billion ≈ $299.13 Million |
+1.64% |
| 2019-03-31 | Rs27.21 Billion ≈ $294.30 Million |
+15.65% |
| 2018-03-31 | Rs23.53 Billion ≈ $254.47 Million |
+15.96% |
| 2017-03-31 | Rs20.29 Billion ≈ $219.45 Million |
-16.39% |
| 2016-03-31 | Rs24.27 Billion ≈ $262.48 Million |
+16.11% |
| 2015-03-31 | Rs20.90 Billion ≈ $226.05 Million |
-0.12% |
| 2014-03-31 | Rs20.93 Billion ≈ $226.33 Million |
+22.05% |
| 2013-03-31 | Rs17.15 Billion ≈ $185.45 Million |
+19.81% |
| 2012-03-31 | Rs14.31 Billion ≈ $154.78 Million |
+0.59% |
| 2011-03-31 | Rs14.23 Billion ≈ $153.87 Million |
-0.46% |
| 2010-03-31 | Rs14.29 Billion ≈ $154.58 Million |
+3.21% |
| 2009-03-31 | Rs13.85 Billion ≈ $149.77 Million |
+86.22% |
| 2008-03-31 | Rs7.44 Billion ≈ $80.43 Million |
-30.55% |
| 2007-03-31 | Rs10.71 Billion ≈ $115.81 Million |
+144.86% |
| 2006-03-31 | Rs4.37 Billion ≈ $47.30 Million |
+6.23% |
| 2005-03-31 | Rs4.12 Billion ≈ $44.52 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Firstsource Solutions Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2313986000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Firstsource Solutions Limited Net Assets Breakdown (March 2025)
Firstsource Solutions Limited net assets breakdown by equity component as of March 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Rs23.14 Billion | 56.47% |
| Common Stock | Rs6.97 Billion | 17.01% |
| Other Comprehensive Income | Rs34.01 Billion | 82.99% |
| Total Equity | Rs40.98 Billion | 100.00% |
Firstsource Solutions Limited Competitors by Market Cap
The table below lists competitors of Firstsource Solutions Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sichuan Yahua Industrial Group Co Ltd
SHE:002497
|
$2.16 Billion |
|
NeoGenomics Inc
NASDAQ:NEO
|
$2.16 Billion |
|
Chengdu Xuguang Electronics Co Ltd
SHG:600353
|
$2.16 Billion |
|
Triputra Agro Persada Tbk PT
JK:TAPG
|
$2.16 Billion |
|
Y.H. Dimri Construction & Development Ltd
TA:DIMRI
|
$2.16 Billion |
|
Lotus Health Group Co
SHG:600186
|
$2.16 Billion |
|
Sinochem International Corp
SHG:600500
|
$2.16 Billion |
|
Harmony Biosciences Holdings
NASDAQ:HRMY
|
$2.16 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Firstsource Solutions Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 37,004,030,000 to 40,976,300,000, a change of 3,972,270,000 (10.7%).
- Net income of 5,944,550,000 contributed positively to equity growth.
- Dividend payments of 2,758,570,000 reduced retained earnings.
- Share repurchases of 362,000,000 reduced equity.
- Other comprehensive income increased equity by 25,525,680,000.
- Other factors decreased equity by 24,377,390,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Rs5.94 Billion | +14.51% |
| Dividends Paid | Rs2.76 Billion | -6.73% |
| Share Repurchases | Rs362.00 Million | -0.88% |
| Other Comprehensive Income | Rs25.53 Billion | +62.29% |
| Other Changes | Rs-24.38 Billion | -59.49% |
| Total Change | Rs- | 10.73% |
Book Value vs Market Value Analysis
This analysis compares Firstsource Solutions Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.98x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 18.76x to 4.98x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | Rs15.40 | Rs289.00 | x |
| 2006-03-31 | Rs13.94 | Rs289.00 | x |
| 2007-03-31 | Rs27.40 | Rs289.00 | x |
| 2008-03-31 | Rs15.94 | Rs289.00 | x |
| 2009-03-31 | Rs32.24 | Rs289.00 | x |
| 2010-03-31 | Rs27.38 | Rs289.00 | x |
| 2011-03-31 | Rs27.35 | Rs289.00 | x |
| 2012-03-31 | Rs27.89 | Rs289.00 | x |
| 2013-03-31 | Rs30.69 | Rs289.00 | x |
| 2014-03-31 | Rs30.56 | Rs289.00 | x |
| 2015-03-31 | Rs29.77 | Rs289.00 | x |
| 2016-03-31 | Rs34.61 | Rs289.00 | x |
| 2017-03-31 | Rs29.58 | Rs289.00 | x |
| 2018-03-31 | Rs34.10 | Rs289.00 | x |
| 2019-03-31 | Rs39.25 | Rs289.00 | x |
| 2020-03-31 | Rs39.79 | Rs289.00 | x |
| 2021-03-31 | Rs39.70 | Rs289.00 | x |
| 2022-03-31 | Rs42.99 | Rs289.00 | x |
| 2023-03-31 | Rs47.98 | Rs289.00 | x |
| 2024-03-31 | Rs52.74 | Rs289.00 | x |
| 2025-03-31 | Rs58.04 | Rs289.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Firstsource Solutions Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.51%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.45%
- • Asset Turnover: 1.01x
- • Equity Multiplier: 1.93x
- Recent ROE (14.51%) is above the historical average (11.00%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 4.46% | 5.63% | 0.55x | 1.43x | Rs-225.01 Million |
| 2006 | 5.61% | 4.42% | 0.80x | 1.59x | Rs-189.80 Million |
| 2007 | 9.06% | 11.83% | 0.58x | 1.32x | Rs-100.34 Million |
| 2008 | 17.64% | 10.52% | 0.48x | 3.52x | Rs565.35 Million |
| 2009 | 2.23% | 1.76% | 0.58x | 2.21x | Rs-1.07 Billion |
| 2010 | 9.58% | 6.99% | 0.65x | 2.12x | Rs-59.16 Million |
| 2011 | 9.87% | 6.98% | 0.62x | 2.28x | Rs-19.05 Million |
| 2012 | 4.35% | 2.76% | 0.57x | 2.75x | Rs-807.77 Million |
| 2013 | 8.55% | 5.20% | 0.84x | 1.96x | Rs-247.72 Million |
| 2014 | 9.23% | 6.17% | 0.85x | 1.76x | Rs-161.80 Million |
| 2015 | 11.22% | 7.80% | 0.88x | 1.64x | Rs254.56 Million |
| 2016 | 10.93% | 8.35% | 0.87x | 1.51x | Rs224.61 Million |
| 2017 | 13.81% | 7.87% | 1.01x | 1.74x | Rs771.96 Million |
| 2018 | 13.88% | 9.24% | 1.04x | 1.44x | Rs913.43 Million |
| 2019 | 13.89% | 9.98% | 1.03x | 1.35x | Rs1.06 Billion |
| 2020 | 12.28% | 8.39% | 0.88x | 1.66x | Rs631.48 Million |
| 2021 | 12.92% | 7.19% | 1.04x | 1.73x | Rs817.57 Million |
| 2022 | 17.72% | 9.08% | 1.04x | 1.88x | Rs2.34 Billion |
| 2023 | 15.26% | 8.53% | 1.06x | 1.68x | Rs1.77 Billion |
| 2024 | 13.91% | 8.12% | 1.04x | 1.64x | Rs1.45 Billion |
| 2025 | 14.51% | 7.45% | 1.01x | 1.93x | Rs1.85 Billion |
Industry Comparison
This section compares Firstsource Solutions Limited's net assets metrics with peer companies in the Information Technology Services industry.
Industry Context
- Industry: Information Technology Services
- Average net assets among peers: $3,232,696,575
- Average return on equity (ROE) among peers: 12.89%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Firstsource Solutions Limited (FSL) | Rs44.96 Billion | 4.46% | 0.96x | $2.16 Billion |
| AAA Technologies Limited (AAATECH) | $308.25 Million | 11.39% | 0.06x | $15.43 Million |
| Accelya Solutions India Limited (ACCELYA) | $1.23 Billion | 21.14% | 0.36x | $152.34 Million |
| Adroit Infotech Limited (ADROITINFO) | $208.81 Million | -1.23% | 0.45x | $5.85 Million |
| Airan Limited (AIRAN) | $1.12 Billion | 8.62% | 0.21x | $19.32 Million |
| Alankit Limited (ALANKIT) | $3.19 Billion | 6.22% | 0.33x | $21.41 Million |
| Bartronics India Limited (ASMS) | $341.75 Million | 17.37% | 0.99x | $17.98 Million |
| BIRLASOFT LIMITED (BSOFT) | $17.14 Billion | 16.89% | 0.46x | $974.19 Million |
| Computer Age Management Services Limited (CAMS) | $7.82 Billion | 36.45% | 0.40x | $1.85 Billion |
| Cigniti Technologies Limited (CIGNITITEC) | $115.76 Million | 0.58% | 0.23x | $374.23 Million |
| Cambridge Technology Enterprises Limited (CTE) | $853.86 Million | 11.47% | 0.57x | $7.21 Million |
About Firstsource Solutions Limited
Firstsource Solutions Limited provides tech-enabled business processes in India, the United Kingdom, the United States, the United Arab Emirates, and internationally. It operates through Healthcare; Banking and Financial Services; Communication, Media and Technology; and Diverse Industries segments. The company offers various banking and financial services and solutions, including customer acquis… Read more