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Buy Firstsource Solutions

With a healthy dividend payout and becoming net long term debt free company, we believe FSL could witness a massive upside going ahead. We are recommending a buy.

 
Firstsource Solutions has posted revenue growth of 1.1% on a QoQ basis. EBITDA margins expanded by 170 bps QoQ aided by lower-than-expected employee expenses and lower other expenses. The board has recommended a dividend of Rs. 1.5 per share for the first time and indicated at maintaining a payout ratio of ~35-40% of PAT, going ahead.
Management expects revenue growth to be at the top end of industry growth rates in CC in FY19 despite downward bias in the customer management division, driven by healthy deal pipelines, signing of contracts, and traction in mortgage business in BFSI.


MORE WILL UPDATE SOON!!

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