Slide 1: Cover letter to stock exchanges on analyst call
30th July 2025 To: National Stock Exchange of India BSE Limited (Scrip Code: Limited (Scrip Code: FSL) 532809) Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Dear Madam/ Sir, Sub: Intimation of Ana
Slide 2: Investor Presentation July 2025
INVESTOR PRESENTATION July 2025
Slide 3: Disclaimer
Disclaimer Certain statements in this presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties
Slide 4: Firstsource: Who we are?
Firstsource: Who we are? Established in 2001 Specialized BPS partner Hyper-focused, domain-centric teams with cutting-edge tech, Public listing in 2007 data, and analytics 200+ global clients# including 34,495* Firstsourcers Several Fortune 500, FTSE 100 and ASX200 companies Across US, UK, India, Ph
Slide 5: Part of RP-Sanjiv Goenka Group
Part of RP-Sanjiv Goenka Group Too Yumm, a flavorful & better-for-you snacking India’s first fully integrated utility company, Group turnover of serving 4.7 Mn consumers across 7 locations Innovating in the personal care category through ~US$5 Bn* new-age brands Naturali and Within Beauty A global l
Slide 6: We work with the leading global enterprises
We work with the leading global enterprises… 14 of Top 20 Mortgage lenders and servicers in the US 7 of Top 10 Banking & Communications, Media Credit card issuers in the US Financial Services & Technology 3 of Top 10 • Streaming Services, Cable TV Retail banks in the UK • Asset Finance • Credit Card
Slide 7: And are market leaders in our solution offerings
And are market leaders in our solution offerings Market Leader Healthcare Payer BPaaS Solutions Peak Matrix Assessment | 2024 Customer Experience (CX) Collections • Omnichannel engagement • White-labeled digital collections Major Contender & Star Performer • Active user personalization • First-party
Slide 8: We introduced the UnBPO playbook
We introduced the playbook Traditional BPO Approach UnBPO Mindset TM The Front, middle and back-office tasks with defined boundaries ‘Service-as-a-software’; boundaries between process and IT blurring Labor arbitrage/global delivery are the key assets ‘Technology arbitrage’ not just for cost, but fo
Slide 9: Our strategic priorities
Our strategic priorities Cross-sell/up-sell into existing clients Simplify Expand the organization capabilities Improve Amplify margins the ‘Firstsource’ brand Elevate TOP-QUARTILE REVENUE GROWTH Tech employee experience in everything we do CONCURRENT MARGIN EXPANSION Copyright © 2025 Firstsource. A
Slide 10: That are showing results
That are showing results Some of our strategic deal wins over last 12 months Secured a 5-year BPaaS deal with US$50mn+ ACV from a mid-market managed care Total headcount provider* in the US Awarded a large deal by a leading dental health plan in the US to transform their claims and contact center op
Slide 11: With relAI, we are building capabilities to address the AI opportunity
With relAI, we are building capabilities to address the AI opportunity Strategic investment in building a specialized language model Firstsource relAI is a suite of AI platforms, solutions for the US mortgage market, leveraging our domain expertise to and digital services to drive digital transforma
Slide 12: We are socially conscious
We are socially conscious ESG REPORT 2024-25 26.3% 13 100% Zero 163.9% Offices are supplied Increase in Environment Renewable energy mix with renewable Waste disposed to waste handler Scope 1 emission tCO2e renewable energy vs. energy FY24 ~46% 81.5% 21,042 ₹72.9 Mn 85% Prepared in accordance with G
Slide 13: And focused on shareholder value creation
And focused on shareholder value creation 5 Years Stock Performance NSE: FSL | BSE: 532809 | Reuters: FISO.BO| Bloomberg: FSOL:IN Market Capitalisation: US$2.9bn | Average daily trading volume: US$ 13.9mn FSL, 609% NSE IT, 98% Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Jul
Slide 14: Our Leadership Team
Our Leadership Team Ritesh Idnani Dinesh Jain Sohit Brahmawar Shamita Mukherjee Aniket Maindarkar Hasit Trivedi MD & CEO Chief Financial Officer Chief Operating Officer Chief Human Resources Chief Marketing Officer Chief Digital & AI Officer Officer Vivek Sharma Venkatgiri Vandali Rajiv Malhotra Arj
Slide 15: In summary…
In summary… We see potential to grow at an accelerated pace over the medium term… Discontinuities caused by macro and technology shifts are creating market opportunities We are disrupting the traditional business model with the UnBPOTM playbook Our ‘right’ scale gives us an advantage …Helped by our
Slide 16: Factsheet
Factsheet Copyright © 2025 Firstsource. All rights reserved. 15
Slide 17: Financial performance snapshot | Q1FY26
Financial performance snapshot | Q1FY26 Revenue (in $ million) Revenue (in ₹ million) 18.5% 16.0% -5.7% 2.0% 23.3% 20.7% 23.9% 16.6% 1.7% 5.2% 25.9% 23.8% 17.9% 14.6% -1.1% 1.1% 22.6% 19.2% 79,803 22,177 944 63,362 60,223 59,212 795 765 750 50,780 259 685 40,986 578 FY20 FY21 FY22 FY23 FY24 FY25 Q1F
Slide 18: Key performance indicators | Q1FY26
Key performance indicators | Q1FY26 Return on Equity (%) Return on Capital Employed (%) 17.8% 17.6% 17.6% 17.7% 16.3% 15.6% 15.4% 15.3% 14.5% 13.9% 13.4% 12.9% 12.3% 12.3% FY20 FY21 FY22 FY23 FY24 FY25 Q1FY26* FY20 FY21 FY22 FY23 FY24 FY25 Q1FY26* Cash Flow (in ₹ million) Debt Position (in ₹ million
Slide 19: Performance Summary | Q1FY26
Performance Summary | Q1FY26 REVENUE EBIT ₹ 22,177 Million ₹ 2,498 Million (US$ 259 Million) (Margin 11.3%) YoY growth of 23.8% YoY growth of 26.8% YoY constant currency growth of 19.2% YoY margin expansion of 30bps QoQ constant currency growth of 1.6% QoQ margin expansion of 10bps PROFIT AFTER TAX
Slide 20: Revenue distribution | Q1FY26
Revenue distribution | Q1FY26 By verticals By geography By delivery location Diverse RoW 11.7% 1.2% Offshore & Nearshore BFS EMEA 41.2% 32.5% 30.1% CMT 22.4% Onshore North 58.8% America Healthcare 68.7% 33.4% Banking & Financial Services Healthcare North America EMEA Onshore Communication, Media & T
Slide 21: Cons. IndAS financials | Profit & Loss Statement
Cons. IndAS financials | Profit & Loss Statement In ₹ million FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 FY25 Q1FY26 QoQ YoY Income from services 63,325 17,839 19,326 20,879 21,678 79,721 22,209 2.5% 24.5% Other operating income 37 72 (72) 145 (63) 82 (33) - - Revenue from operations 63,362 17,911 19,254 21,0
Slide 22: Cons. IndAS financials | Balance Sheet
Cons. IndAS financials | Balance Sheet In ₹ million As on Mar 31, 2025 As on Jun 30, 2025 In ₹ million As on Mar 31, 2025 As on Jun 30, 2025 Assets Equity and liabilities Non-current assets Shareholder's Funds Fixed assets 3,254 3,234 Equity share capital 6,970 6,970 Right-of-use assets 9,126 8,417
Slide 23: Cons. IndAS financials | Cash Flow Statement
Cons. IndAS financials | Cash Flow Statement In ₹ million Quarter ended Jun 30, 2024 Quarter ended Mar 31, 2025 Quarter ended Jun 30, 2025 Cash flow from operating activities Net profit before taxation and non-controlling interest 1,673 2,017 2,132 Depreciation and amortization 729 906 972 Finance c
Slide 24: Operating Metrices | Q1FY26
Operating Metrices | Q1FY26 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Banking & Financial Services 40.8% 40.8% 38.3% 37.3% 36.4% 34.4% 32.4% 33.4% 32.5% Revenue by Healthcare 32.6% 32.7% 33.5% 32.9% 35.7% 36.3% 34.0% 33.8% 33.4% Vertical Communications, Media & Tech 21.8% 21.2%
Slide 25: Business Outlook | FY26
Business Outlook | FY26 13-15%* 11.25-12.0% constant currency EBIT margin revenue growth (Earlier: 12-15%) *Does not include the proposed acquisition of Pastdue Credit Solutions Copyright © 2025 Firstsource. All rights reserved. 24
Slide 26: Thank You
THANK YOU Investor relations Investor relations Copyright © 2025 Firstsource