Firstsource Solutions Ltd. — Investor Presentation 2024

Feb 12, 2024

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12[th] February 2024

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 Analyst/ Institutional Investor Call

We are enclosing herewith a copy of the presentation to be made in the Meeting/Conference which is going to be held on Tuesday, 13th February 2024 at 8:30 AM IST, on the financial results of the Company for the quarter & nine months ended 31st December 2023.

This is for your information and record.

Thanking you,

For Firstsource Solutions Limited

POOJA SURESH Digitally signed by POOJA NAMBIAR SURESH NAMBIAR

Pooja Nambiar Company Secretary

Encl.: A/a

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INVESTOR PRESENTATION

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1

© FIRSTSOURCE

Disclaimer

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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 relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in BPO services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on client contracts, client concentration, our ability to manage ramp-ups and growth, our ability to manage our international operations, reduced demand in our key focus verticals, disruptions in telecom infrastructure and technology, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, performance of our subsidiaries, withdrawal of government fiscal incentives, political instability, legal restrictions on raising capital and acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Firstsource may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

© FIRSTSOURCE | 2

Firstsource: Who we are?

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Established in 2001 Public listing in 2007

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Domain driven BPM services company leveraging a ‘Digital First, Digital Now’ approach to solve key customer problems

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150+ global clients including

18 Fortune 500 companies and 3 FTSE 100 companies

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25,947* Firstsourcers

across US, UK, India, Philippines and Mexico

*As on 31[st] Dec. 2023

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Part of RP-Sanjiv Goenka Group Since 2012

Leaders in chosen segments

across Banking & Financial Services, Healthcare, Communications, Media & Technology

Deep partnerships with clients Average tenure of top 5 clients is over 17.7 years

Revenues of INR 60.2 Billion

(US$750 Million) in FY2023

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© FIRSTSOURCE | 3

Part of RP-Sanjiv Goenka Group

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Power Consumer & Retail Education & Infrastructure Sports Carbon Black Media & Entertainment Combined Revenues Asset Base Shareholders US$4.5 Billion[] US$6 Billion[] 1 Million+[*] IT-Enabled Services

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• All figures as on FY23 © FIRSTSOURCE | 4

We work with the leading global enterprises…

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Banking &

Banking & Communications Financial Services Media & Technology Asset Finance Streaming Services Credit Cards Cable TV Mortgages Broadband & Telephony CMT Retail & SME Banking Consumer Tech 22.5% FinTech E-Commerce BFS 38.3% Diverse 5.7% Healthcare Healthcare 33.5% Diversified Hospital Providers Industries Health Plans Utilities Healthcare Services Government Entities Medical Devices

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6 of Top 15 Mortgage Servicers in the US 5 of Top 15 Mortgage Lenders in the US 6 of Top 10 Credit card issuers in the US

2 of Top 6

Retail Banks in the UK 1,000+ Hospitals in the US 7 of Top 10 Health insurance/managed care providers in the US

1 of Top 2

Broadcasting and media companies in the UK

2 of Top 5

Telecom and broadcasting companies in the US

3 of Top 5

Consumer-tech companies in the US

2 of Top 4

Utility companies in the UK

© FIRSTSOURCE | 5

And are market leaders in our focus domains

Customer Experience (CX)

Collections

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Omnichannel engagement
Active user personalization
Intelligent automation
Virtual Copilot
D&A IBO
T&S
Consulting 25.8%
Consulting DECX Collection
CX
Technology solutions 53.5%
CX strategy and design
Process optimization
Metrics & measurement DP&S
PAA
20.7%
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White-labeled digital collections First-party & 3rd party collections Legal collections Compliance & risk management

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Consulting

Data & Analytics (D&A)* Data annotation and labeling Predictive analytics Managed services AI-enabled services

Trust & Safety (T&S)* Audit of policies/queue structures Workflow optimization Real-time content monitoring Predictive analytics

Domain-led Platforms/Solutions (DP&S)

Sympraxis – Digital intake operations Firstsource Healthcare Cloud – Revenue cycle management

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Market Leader Star Performer Healthcare Payer Operations Peak Matrix Assessment | 2023

Major Contender RCM Operations Peak Matrix Assessment | 2023

Major Contender Star Performer Banking Operations Peak Matrix Assessment | 2023

Leader Quadrant Customer Experience Services Provider Lens | Europe | 2023

Leader

Mortgage and Loan Services NEAT Vendor Analysis | 2022

• Emerging services

DECX: Digitally Empowered Customer Experience | IBO: Intelligent Back Office | PAA: Platforms, Automation & Analytics

Source: The Everest Group, ISG, Nelson Hall

© FIRSTSOURCE | 6

We have realigned our strategic priorities…

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TOP-QUARTILE REVENUE GROWTH CONCURRENT MARGIN EXPANSION	Simplify t Cro E T Elev Improve	he organization ss-sell/up-sell into existing clients xpand capabilities Amplify the ‘Firstsource’ brand ech in everything we do ate employee experience margins

© FIRSTSOURCE | 7

And are focused on execution

Our recent deal wins

10-year renewal of contract as the primary outsourcing partner by the Top client, one of Europe’s leading media and entertainment companies

Selection by Education Testing Services , one of the largest education assessment organizations in the world, to provide student support and technology services

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Chosen by a prominent US reverse mortgage company to provide a comprehensive set of operational and tech services

New business for digital intake and digital customer engagement services with one of the largest managed health care and insurance companies in the US

Selected by one of the Top five banks in the UK , one of our long-standing clients, for a large transformational program

Additional business from one of the largest telecom and media companies globally , to provide core customer support and RPA implementation at its UK operations

Working with two of the largest consumer tech companies globally on training their proprietary AI tool leveraging its AI Ops framework

Additional business from one of the largest utilities companies in the UK , to provide core customer support

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Total headcount

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Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24
Attrition
47.2%
44.9% 45.3% 44.8%
43.3%
44.4%
42.3%
39.1%
36.1%
33.8%
Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24
Onshore Offshore
25,947
23,627 23,018 22,384 23,953
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*For employees in employment for more than 180 days

© FIRSTSOURCE | 8

We expect Gen AI to open new revenue streams…

Most enterprises are still early in their adoption cycle

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• Cost to compute/cost to infer is still high

• Board mandates driving demand for advice and guidance

Focus is on improving data quality/PoCs

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• Selective Investments in proprietary LLMs

• Higher outsourcing for functions with high volumes + standard underlying data

Scale adoption to open new market opportunities

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• New services around data labelling/annotation and training of proprietary LLMs

• Co-develop domain/function-specific LLMs along with technology companies

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Enterprise GenAI adoption cycle*

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Deployed
GenAI
for 5+
processes
17%
Deployed
GenAI
Planning in <5
a pilot processes
38% 28%
Plan adoption
in near future No plans
15% 2%
Incremental cost of GenAI [[#]]
240%
70%
30%
Microsoft 365 with Salesforce enterprise GCP's Dialogflow CX
Copilot sales cloud Enterprise Chat
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Incremental cost of GenAI[[#]]

• *Based on a survey 53 enterprises, Aug 2023

• additional price over standard enterprise plans Source: The Everest Group

© FIRSTSOURCE | 9

And we are building capabilities to address the opportunity

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FirstSense.AI Partner
FirstSense.AI
Studio ecosystem
Our proprietary Sandbox Initiative to Across Robotics,
framework to ecosystem for proactively Process and Task
accelerate experimentation, engage Mining, and
client’s AI evaluation, and Firstsourcers in Conversational AI
deployment integration AI engineering
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Library of 130+ use Completed 35+ First batch of cases spanning POCs; 5+ co-pilots trainees on prompt across industries in production* engineering

*As on 31[st] Dec. 2023

© FIRSTSOURCE | 10

We are socially conscious

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Read our FY23 ESG report

Firstsource ranked in the top 96th percentile on the Dow Jones Sustainability Index

Score of 62 on the CSA metric as well as on the ESG metric in the first year of participation

Included in the S&P Global Sustainability Yearbook 2024, one of only three Indian IT & ITES companies listed

Environment 65% Increase in consumption of RE vs FY22 (India)	24% Renewable energy mix (India)	4 Offices are Green Building Certified	100% Waste disposed to waste handler	77% Reduction in Scope 1 emission vs. FY22
Social 46% of the total workforce comprise of women	Level 3 Disability Confident Leader in the UK	15,298 CSR – Hours of Volunteering	INR68.4Mn Spent directly through our CSR Initiatives	70% New suppliers screened on E&S KPI
Governance 50% of the Board are Independent Directors	10% of Independent Directors are Women	54% Promoter shareholding	Zero Political contributions	Zero Cases of insider trading

© FIRSTSOURCE | 11

RE: Renewable Energy

And focused on shareholder value creation

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5 Years Stock Performance

NSE: FSL | BSE: 532809 | Reuters: FISO.BO | Bloomberg: FSOL:IN Market Capitalisation: US$1.8bn | Average daily trading volume: US$ 7mn

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Feb-19 Aug-19 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22 Aug-22 Feb-23 Aug-23 Feb-24
FSL NIFTY IT
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Shareholding Pattern*

Total Shareholder Return

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Public & Others
20%
Promoter
DII
54%
16%
FII
10%
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Key institutional shareholders

• HDFC Mutual Fund

• ICICI Prudential Mutual Fund

• Vanguard Group

• Tata Mutual Fund

• LSV Asset Management

• BlackRock

• SBI Mutual Fund

• Steinberg India

• Dimensional Fund

• Kotak Mutual Fund

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1 Year return 79% 3.0%
3 Year return 115% 10.2%
5 Year return 352% 31.2%
0% 100% 200% 300% 400% 500%
Share Price Return Dividend yield
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*As on 31[st] Dec. 2023

All stock price data based on closing prices as of 6[th] Feb. 2023; Average daily trading volume is average for the last six months

© FIRSTSOURCE | 12

Leadership team

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Ritesh Idnani

MD & CEO

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Dinesh Jain

Chief Financial Officer

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Arjun Mitra

Head - Collections

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Prashanth Nandella

Chief Operating Officer

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Ashish Chawla

Head – CX and Consulting

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Vivek Sharma

Venkatgiri Vandali

Head – Comm, Media & Head – Healthcare & Tech, Banking & Fin. Lifesciences Services Emerging Geos

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Aftab Javed

Sundara Sukavanam

Chief Digital Officer

Chief Human Resources Officer

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Rajiv Malhotra

Head – Europe, Middle East & Africa

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Aniket Maindarkar

Chief Marketing Officer

© FIRSTSOURCE | 13

In summary…

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We see potential to grow at an accelerated pace over the medium term…

Discontinuities caused by macro and technology shifts are creating market opportunities Our ‘market positioning’ gives us an advantage

…Helped by our unique differentiators…

Roster of long-standing relationships with quality clients with large spend Recognized market leadership in our chosen domains

…And driven by the One Firstsource playbook…

Focus on account mining and expanding capabilities

Speed-to-market, clear accountability and improved market visibility are key imperatives

…Even as we remain focused on execution in the near term

Q3FY24 deal wins highest in the last three years years Highest ever exit deal pipeline (as of Q3FY24-end)

© FIRSTSOURCE | 14

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Factsheet

© FIRSTSOURCE | 15

Financial performance snapshot

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Revenue (in $ million)
-0.1% 5.6% 18.5% 16.0% -5.7% 0.6%
2.0% 6.6% 17.9% 14.6% -1.1% -0.1%
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Constant Currency Growth YoY Revenue Growth
EBIT and Margin (%) (in ₹ million)
10,000 14.0%
9,000 11.1% 12.0% 10.8% 11.8% 12.0% 11.2% 12.0%
8,000 9.4%
7,000 10.0%
6,000
8.0%
5,000
6.0%
4,000
3,000 4.0%
2,000
2.0%
1,000
- 0.0%
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
EBIT EBIT Margin (%)
795 750
685
548 548 578 564
7,105
5,979 5,633 5,233
4,610 4,437
3,930
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Revenue (in ₹ million)
8.2% 7.1% 23.9% 16.6% 1.7% 4.5.%
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
YoY Revenue Growth
59,212 60,223
50,780
46,658
35,352 38,263 40,986
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PAT and Margin (%)

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(in ₹ million)
8,000 12.0%
9.9%
7,000 6,000 9.2% 8.3% 9.1% 8.5% 8.2% 10.0%
7.1% 8.0%
5,000
4,000 6.0%
3,000
4.0%
2,000
2.0%
1,000
- 0.0%
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Note: FY21 PAT was ₹ 4,499 m excluding exceptional items PAT PAT Margin (%)
5,374 5,137
3,265 3,778 3,397 3,617 3,812
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*Normalised for one-time charges in Q2FY24

© FIRSTSOURCE | 16

Key performance indicators

Return on Equity (%)

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FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Note: FY21 ROE was 16.1% excluding exceptional items
17.7%
15.3%
13.9% 13.9% 12.3% 12.9% 13.5%
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Cash Flow (in ₹ million)

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FY18 FY19 FY20 FY21 Adj FY22 Adj FY23 9MFY24
Operating Cash Flow Free Cash Flow
8,921
7,225 7,870 7,141 7,634 7,119
4,612
4,000 4,104
3,151 2,526 2,913 3,156 4,040
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Return on Capital Employed (%)

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FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
(in ₹ million)
FY18 FY19 FY20 FY21 FY22 FY23 9MFY24
Long term Debt Short term Debt Net Debt
including current maturities
17.6% 17.6%
15.3%
13.0% 14.1% 12.3% 13.4%
6,950
5,271
3,490
8,341 8,013 5,113
4,367
5,390 6,526 6,159
5,273
4,398
3,885 3,846
3,233 3,147 2,999
187 92 1,678 1,841
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*Annualised

© FIRSTSOURCE | 17

Summary of Performance for the Quarter ended December 31, 2023

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REVENUE EBIT
₹
₹
₹ 15,966 Million ₹ 1,709 Million
(US$ 192 Million) (Margin 10.7%)
YoY growth of 6.1%
YoY growth of 21.2%
Constant Currency YoY growth of 2.8%
YoY Margin expansion of 134 bps
PROFIT AFTER TAX EARNINGS PER SHARE
₹
(Diluted)
₹ 1,287 Million ₹ 1.84
(Margin 8.1%) per share
YoY growth of 18.5%
Q2FY24 at 1.80 per share
YoY Margin expansion of 76 bps
Q3FY23 at ₹ 2.25 per share
(excluding exceptional other income)
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*excluding other income on account of changes in the fair value of the liabilities for purchase of non-controlling interest and contingent considerations

© FIRSTSOURCE | 18

Summary of Performance for the Nine Months ended December 31, 2023

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REVENUE EBIT
₹
₹
₹ 46,658 Million ₹ 5,132 Million
(US$ 564 Million) (Margin 11.0%)
YoY growth of 4.5% YoY growth of 36.5% [#]
Constant Currency YoY decline of 0.1% YoY Margin expansion of 263 bps [#]
(excluding one-time charges)
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PROFIT AFTER TAX EARNINGS PER SHARE
₹
(Diluted)
₹ 3,812 Million ₹ 5.43
(Margin 8.2%) per share
YoY growth of 41.9%
9MFY23 at 5.31 per share
YoY Margin expansion of 198 bps
TTM EPS at ₹ 7.46 per share
(excluding exceptional other income)
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• excluding on-time charges related to leadership changes in Q2FY24

*excluding other income on account of changes in the fair value of the liabilities for purchase of non-controlling interest and contingent considerations

© FIRSTSOURCE | 19

Revenue split | Q3FY24

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Revenue split by Revenue split by
verticals geography
Diverse RoW
5.7% 0.1%
CMT
22.5% UK US
65.4%
34.5%
BFS
38.3%
Healthcare
33.5%
Banking & Financial Services (BFS) Healthcare United States (US) United Kingdom (UK)
Communication, Media & Tech (CMT) Diverse Industries Rest of World (RoW)
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Revenue split by service lines

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PAA
20.7%
DECX
53.5%
IBO
25.8%
Digitally Empowered Customer Experience (DECX)
Intelligent Back Office (IBO) Platforms, Automation & Analytics (PAA)
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© FIRSTSOURCE | 20

FY24 business outlook

0.5-1.5% constant currency revenue growth

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11-11.5% EBIT margin (normalized for one-time charges)

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© FIRSTSOURCE | 21

Profit & loss statement Consolidated IndAS financials

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In ₹ million	Q2FY23	Q3FY23	Q4FY23	FY23	Q1FY24	Q2FY24	Q3FY24	QoQ	YoY
Income from services	14,735	15,033	15,566	59,859	15,267	15,417	15,948	3.4%	6.1%
Other operating Income	147	16	2	364	25	(17)	18	-	10.7%
Revenue from operations	14,882	15,049	15,568	60,223	15,292	15,400	15,966	3.7%	6.1%
Revenue from operations (USD Mn)	$ 187	$ 183	$ 190	$ 750	$ 186	$186	$192	3.0%	4.8%
QoQ Growth % - Constant Currency	0.2%	(0.9%)	2.5%	-	(3.0%)	(0.1%)	3.4%	-	-
YoY Growth % - Constant Currency	1.8%	(0.3%)	(2.8%)	(1.1%)	(1.6%)	(1.9%)	2.8%	-	-
Personnel Expense	9,527	9,861	9,690	38,675	9,237	9,400	9,893	5.2%	0.3%
Operating Expense	3,438	3,092	3,437	13,283	3,653	3,712*	3,701	(0.3%)	19.7%
EBITDA	1,917	2,097	2,441	8,265	2,402	2,288	2,371	3.6%	13.1%
EBITDA Margin	12.9%	13.9%	15.7%	13.7%	15.7%	14.9%	14.9%	(0.5) bps	92 bps
Depreciation / amortization	663	687	642	2,632	613	654	663	1.4%	(3.6%)
EBIT	1,254	1,409	1,799	5,633	1,789	1,634*	1,709	4.6%	21.2%
EBIT Margin	8.4%	9.4%	11.6%	9.4%	11.7%	10.6%	10.7%	9 bps	134 bps
Other Income / (expense)	482#	610#	105#	1,251#	6	153#	134#	(12.1%)	(78.0%)
Interest Income / (expense), net	(187)	(183)	(185)	(732)	(243)	(244)	(235)	(3.5%)	28.6%
Profit Before Taxes	1,549	1,837	1,719	6,152	1,553	1,543	1,608	4.2%	(12.5%)
Taxes and Minority Interest	255	257	306	1,015	293	278	321	15.3%	24.5%
Profit After Tax	1,294	1,579	1,413	5,137	1,260	1,265	1,287	1.8%	(18.5%)
Net Margin	8.7%	10.5%	9.1%	8.5%	8.2%	8.2%	8.1%	(15) bps	(243) Bps
Diluted EPS (₹ /Share)	1.84	2.25	2.02	7.32	1.80	1.80	1.84	2.2%	(18.2%)

including exceptional other income related to changes in the fair value of the liabilities for purchase of non-controlling interest and contingent considerations

*Q2FY24: include one-time charges

© FIRSTSOURCE | 22

Balance sheet

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Consolidated IndAS financials

In ₹ million	As on 31-Dec-23	As on 31-Mar-23
ASSETS
Non-Current Assets
Fixed assets	2,461	2,789
Right-of-use assets	5,726	4,958
Goodwill on consolidation	29,817	29,450
Investment in associates	0	0
Financial Assets
Investments	115.38	116
Other financial assets	603	488
Deferred tax assets	2,944	2,948
Income tax assets (net)	820	786
Other non-current assets	2,156	1,026
Total Non-Current Assets	44,642	42,561
Current Assets
Financial assets
Current investments	491	596
Trade receivables	11,399	10,385
Cash and cash equivalents	2,065	1,515
Other balances with bank	33	40
Other financial assets	57	40
Other current assets	1,583	1,507
Total Current Assets	15,629	14,082
TOTAL ASSETS	60,271	56,644

In ₹ million	As on 31-Dec-23	As on 31-Mar-23
EQUITY AND LIABILITIES
Shareholder's Funds
Equity share capital	6,970	6,970
Reserve and surplus	30,761	26,699
Non - controlling interest	4	4
Total Equity	37,734	33,672
Non-Current Liabilities
Financial Liabilities
Long-term borrowings	250	1,394
Lease liabilities	5,145	4,467
Other Financial Liabilities	168	181
Provisions	175	137
Deferred tax liabilities	1,448	1,196
Total Non-Current Liabilities	7,185	7,375
Current Liabilities
Financial Liabilities
Short-term and other borrowings	6,704	6,876
Trade payables	3,149	2,314
Lease liabilities	1,383	1,195
Other financial liabilities	2,195	3,556
Other current liabilities	1,257	829
Provisions	494	826
Provision for tax (net)	169	-
Total Current Liabilities	15,351	15,597
TOTAL LIABILITIES	60,271	56,644

© FIRSTSOURCE | 23

Cash flow statement

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Consolidated IndAS financials

In ₹ million	Nine Months ended Dec 31, 2023	Nine Months ended Dec 31, 2022
Cash Flow from Operating Activities
Netprofit before taxation and non controllinginterest	4,704	4,433
Depreciation and amortization	1,929	1,989
Finance costs (For borrowing& lease liabilities)	769	583
Adjustment: Non-Cash Expense / (Other Income)	(441)	(2,283)
Add: WorkingCapital Changes	(1,853)	438
Less: Income Taxes Paid	(495)	(547)
Net cashgeneratedfrom /(used in) Operating Activities(A)	4,612	4,613
Cash Flow from Investing Activities
Capital Expenditure, net	(571)	(417)
Interest income received	2	1
(Increase)/Decrease in current investments	149	372
Earmarked balances with banks	7	42
Net cashgeneratedfrom /(used in) Investing Activities(B)	(413)	(3)
Cash Flow from Financing Activities
Net Change in Borrowings	(1,316)	(2,278)
Net Interest Paid	(799)	(567)
Payment of Lease Liabilities	(1,029)	(1,131)
Purchase of TreasuryShares, net	65	(151)
Purchase of non controllinginterest in subsidiary	(583)	(276)
Net cashgeneratedfrom /(used in) Financing Activities(C)	(3,661)	(4,404)
Net increase/(decrease) in Cash and Cash Equivalents(A+B+C)	538	207
Cash and cash equivalents at the beginningof theperiod	1,515	828
Foreign exchange(loss)/gain on translatingCash and cash equivalents	12	14
Closing Cash and Cash Equivalents	2,065	1,050
Current Investments	491	849
Cash and Cash Equivalents including Investments	2,556	1,899

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Operating metrics

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	Particulars	Q3FY22	Q4FY22	Q1FY23	Q2FY23	Q3FY23	Q4FY23	Q1FY24	Q2FY24	Q3FY24
Revenue by Vertical	Banking & Financial Services	48.3%	49.0%	46.3%	43.4%	41.8%	40.3%	40.8%	40.8%	38.3%
	Healthcare	30.3%	30.3%	32.1%	34.5%	34.2%	33.2%	32.6%	32.7%	33.5%
	Communications Media & Tech	19.6%	19.0%	20.2%	20.2%	21.6%	22.3%	21.8%	21.2%	22.5%
	Diverse Industries	1.8%	1.7%	1.4%	1.9%	2.4%	4.2%	4.8%	5.3%	5.7%
Revenue by Service Lines	Digitally Empowered Customer Experience	45.9%	44.4%	46.6%	47.7%	50.4%	52.6%	51.8%	52.9%	53.5%
	Intelligent Back Office	44.0%	36.5%	32.7%	30.9%	29.2%	27.0%	27.0%	25.2%	25.8%
	Platforms, Automation & Analytics	10.1%	19.1%	20.7%	21.4%	20.4%	20.4%	21.2%	21.9%	20.7%
Revenue by Geography	US	69.8%	70.7%	68.4%	67.2%	64.9%	63.3%	63.5%	65.1%	65.4%
	UK	28.5%	27.5%	30.1%	31.3%	34.1%	36.3%	36.4%	34.8%	34.5%
	Rest of World	1.7%	1.8%	1.5%	1.5%	1.0%	0.4%	0.1%	0.1%	0.1%
Revenue by Delivery	Offshore	30.8%	27.0%	27.4%	25.9%	25.1%	24.6%	25.6%	26.7%	30.3%
	Onshore	69.2%	73.0%	72.6%	74.1%	74.9%	75.4%	74.4%	73.3%	69.7%
Top Clients Revenue	Top client %	15.2%	14.8%	15.2%	14.9%	15.8%	15.4%	14.6%	12.7%	13.7%
	Top 5 client %	37.6%	35.9%	36.4%	36.6%	38.5%	37.4%	37.2%	35.0%	35.8%
Other Metrices	Total employees (end of period)	27,398	26,557	25,234	23,932	23,627	23,018	22,384	23,953	25,947
	• Employees in India	16,826	16,045	14,769	13,431	12,489	12,395	12,457	14,437	16,269
	• Employees outside India	10,572	10,512	10,465	10,501	11,138	10,623	9,927	9,516	9,678
	Net Addition	(437)	(841)	(1,323)	(1,302)	(305)	(609)	(634)	1,569	1,994
	Offshore Attrition (180 days+)	45.2%	45.9%	43.8%	45.7%	44.4%	42.3%	39.1%	36.1%	33.8%
	Onshore Attrition (180 days+)	59.5%	50.2%	56.9%	52.0%	47.2%	44.9%	45.3%	44.8%	43.3%

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Note: Attrition data till FY22 is on a quarterly annualized basis and on a Trailing Twelve Months (TTM) basis effective Q1FY23

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