Slide 1: Intimation of Analyst/Institutional Investor Call cover letter
2nd August 2023 To: National Stock Exchange of BSE Limited (Scrip Code: India 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 An
Slide 2: Q1 FY2024 Earnings Update
Q1 FY2024 Earnings Update 1 © FIRSTSOURCE 2020 | CONFIDENTIAL I 2 August 2023
Slide 3: Disclaimer
Disclaimer Q1FY2024 EARNINGS UPDATE 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. T
Slide 4: Summary of Performance for the Quarter ended June 30, 2023
Summary of Performance for the Quarter ended June 30, 2023 Q1FY2024 EARNINGS UPDATE ₹ REVENUES ₹ OPERATING MARGIN ₹ 15,292 Million ₹ 1,789 Million (US$ 186 Million) (Margin 11.7%) YoY growth of 3.9% YoY growth of 52.8% Constant Currency YoY decline of 1.6% YoY Margin expansion of 375 bps ₹ PROFIT AF
Slide 5: Revenue Split by Verticals and Service Lines
Q1FY2024 EARNINGS UPDATE REVENUE SPLIT BY VERTICALS REVENUE SPLIT BY SERVICE LINES Q1FY24 Q1FY24 40.8% 32.6% 21.8% 4.8% Q1FY24 Q1FY24 51.8% 27.0% 21.2% Q4FY23 40.3% 33.2% 22.3% 4.2% Q4FY23 52.6% 27.0% 20.4% Q3FY23 41.8% 34.2% 21.6% 2.4% Q3FY23 50.4% 29.2% 20.4% Q2FY23 43.4% 34.5% 20.2% 1.9% Q2FY23 4
Slide 6: Top 5 Clients
Client Concentration Q1FY2024 EARNINGS UPDATE 6 of Top 15 2 of Top 5 5 of Top 15 Top Client Q1 Q1FY24 FY24 14.6% Mortgage servicers in Retail banks in the UK Mortgage Lenders in 21.5 years the US the US Total Tenure Q4 FY23 15.4% 1,000+ 7 of Top 10 1 of Top 3 Hospitals in the US Health insurance/ ma
Slide 7: Annexure
Q1FY2024 EARNINGS UPDATE Annexure © FIRSTSOURCE 2021 | 2 August 2023 6
Slide 8: Financial Performance (Quarterly)
Financial Performance (Quarterly) Q1FY2024 EARNINGS UPDATE In ₹ million Q1 FY 2022 Q2 FY 2022 Q3 FY 2022 Q4 FY 2022 Q1 FY 2023 Q2 FY 2023 Q3 FY 2023 Q4 FY 2023 Q1 FY 2024 Income from services 14,780 14,182 14,456 15,239 14,524 14,735 15,033 15,566 15,267 Other operating Income 68 104 182 201 199 147
Slide 9: Financial Performance (Yearly)
Financial Performance (Yearly) Q1FY2024 EARNINGS UPDATE In ₹ million FY 2017 FY 2018 FY 2019 FY 2020 FY2021 FY2022 FY2023 Income from services 34,569 34,315 37,867 40,502 50,327 58,657 59,859 Other operating Income 987 1,038 396 484 453 554 364 Revenue from operations 35,556 35,352 38,263 40,986 50,
Slide 10: Balance Sheet and Cash Flow Statement
Balance Sheet and Cash Flow Statement Q1FY2024 EARNINGS UPDATE Quarter ended In ₹ million As at 30-Jun-23 As at 31-Mar-23 In ₹ million 30-Jun-23 Cash Flow from Operating Activities Equity And Liabilities Net profit before taxation and non controlling interest 1,552 Share Capital 6,970 6,970 Deprecia
Slide 11: Key Performance Indicators
Key Performance Indicators Q1FY2024 EARNINGS UPDATE Return on Equity Return on Capital Employed 17.6% 17.6% 17.7% 13.9% 15.3% 15.8% 14.1% 12.9% 12.3% 13.4% 14.1% 12.3% FY19 FY20 FY21 FY22 FY23 Q1FY24 (TTM) FY19 FY20 FY21 FY22 FY23 Q1FY24 (TTM) Note: FY21 ROE will be 16.1% excluding for exceptional i
Slide 12: Operating Metrics
Operating Metrics Q1FY2024 EARNINGS UPDATE Particulars Q1 FY 2022 Q2 FY 2022 Q3 FY 2022 Q4 FY 2022 Q1 FY2023 Q2 FY2023 Q3 FY2023 Q4 FY2023 Q1 FY2024 Banking & Financial Services 51.7% 48.9% 48.3% 49.0% 46.3% 43.4% 41.8% 40.3% 40.8% Revenue by Healthcare 26.7% 29.6% 30.3% 30.3% 32.1% 34.5% 34.2% 33.2
Slide 13: Forex Hedges
Forex Hedges Q1FY2024 EARNINGS UPDATE Outstanding FX hedges at $74.5 million for USD and £162.8 million for GBP GBP-INR USD INR Period Hedged (Mn) Average Rate Hedged (Mn) Average Rate 0-12 Months £59.9 ₹ 103.5 /£ $ 72.5 ₹ 84.1 /$ 12-24 Months £56.5 ₹ 106.7 /£ $ 2.0 ₹ 84.3 /$ More than 24 Months £46
Slide 14: Prior Period Reports
Prior Period Reports Q1FY2024 EARNINGS UPDATE (Hyperlinks) Annual Report ESG Report Published Results Investor Presentations Press Release FY2023 FY2024 Q1 FY2024 Q1 FY2024 Q1 FY2023 Q1 Q2 Q3 Q4 FY2023 Q1 Q2 Q3 Q4 FY2023 Q1 Q2 Q3 Q4 FY2022 FY2022 FY2022 Q1 Q2 Q3 Q4 FY2022 Q1 Q2 Q3 Q4 FY2022 Q1 Q2 Q3
Slide 15: About Us
Q1FY2024 EARNINGS UPDATE US UK PHILIPPINES About Us 3,867 14 4,861 9 1,032 3 12,457 10 167 1 INDIA MEXICO Established in 2001 Domain driven BPM services company Leveraging a ‘Digital First, Digital Now’ approach to solve key customer problems Revenues of ₹ 60.2 Billion (approximately $750 Million) i
Slide 16: Q1FY2024 E ARNINGS U PDATE
Q1FY2024 EARNINGS UPDATE Leader in US non-bank Top 3 in the chosen Revenue Cycle Leading CX service providers in the Top 5 Consumer debt lender market Management segments in US UK across Media and BFS segments collections agency in the US Healthcare Customer Service Mortgage Operations Voice | Chat
Slide 17: Part of RP-Sanjiv Goenka Group
Part of RP-Sanjiv Goenka Group Q1FY2024 EARNINGS UPDATE Power Carbon Black Consumer & Retail Media & Entertainment Education & Infrastructure IT-Enabled Services Combined Revenues of Sports $4.2 Billion in FY2023 16 © FIRSTSOURCE 2021 | 2 August 2023
Slide 18: ESG at Firstsource
Q1FY2024 EARNINGS UPDATE ESG at Firstsource We’re an ISO 27001, ISO 45001, ISO 14001, ISO 9001, ISO 50001 and BS OHSAS 18001 certified company with ESG practices as a foundational element for long-term value creation. Environment Social Governance FY 2022 Key Highlights 210% 44% 50% Conducted a ESG
Slide 19: ESG at Firstsource - A year of progress; Growing with purpose
ESG at Firstsource - A year of progress; Growing with purpose Q1FY2024 EARNINGS UPDATE ESG Governance Framework at FSL We recognize that to truly integrate ESG within organizational goals and objectives, a defined framework of roles and responsibilities reporting to the Board of Directors is crucial
Slide 20: Corporate Management
Q1FY2024 EARNINGS UPDATE Corporate Management Senior Leadership Dinesh Jain Prashanth Nandella Venkatgiri Vandali Rajiv Malhotra Arjun Mitra Finance Operations Healthcare & Europe Business Collections Lifesciences Vipul Khanna MD & CEO Sameer Ahluwalia Ashish Chawla Aftab Javed Sundara Sukavanam Ban
Slide 21: Q1FY2024 E ARNINGS U PDATE
Q1FY2024 EARNINGS UPDATE Helping customers stay ahead of the curve through transformational technologies and capabilities Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company, is a leading provider of transformational solutions and services spanning the customer lifecycle across Healthca