Differentiation through innovation. Delivering excellence.

[Pages:170]Differentiation through innovation. Delivering excellence.

Firstsource Solutions Limited

ANNUAL REPORT 2014-15

PDF processed with CutePDF evaluation edition

Differentiation through innovation. Delivering excellence.

Firstsource Solutions Limited ANNUAL REPORT 2014-15

The design represents the impact of innovation on our clients and their customers that leads to a differentiated experience. With people at the heart of our business, various innovative measures delivered through our offerings orbit around our client's businesses creating excellence, consistently.

For more information log on to

Inside the Report

CORPORATE OVERVIEW

World of Firstsource Our Performance Differentiation through Innovation Message from the Chairman Message from the MD & CEO Board of Directors Senior Management Corporate Social Responsibility Awards & Accolades

02-14

02 04 06 08 09 10 11 12 14

BOARD AND MANAGEMENT REPORTS

Directors' Report Management Discussion and Analysis Report Report on Corporate Governance

15-81

15 47 68

FINANCIAL STATEMENTS

Consolidated Independent Auditors' Report Balance Sheet Statement of Profit and Loss Cash Flow Statement Notes to the Consolidated Financial Statements Statement under Section 129(3) of the Companies Act, 2013 in Form AOC- I relating to Subsidiary Companies

82-156

82 86 87 88 90 119

Standalone

Independent Auditors' Report

120

Balance Sheet

124

Statement of Profit and Loss

125

Cash Flow Statement

126

Notes to the Financial Statements

128

Notice of Annual General Meeting

157

At Firstsource, furthering our clients' business objectives is central to our DNA. We understand that in a dynamic technology led environment, characterised by ever evolving customer expectations, meaningfully engaging and delivering a discerning experience to the customers helps organisations to not just survive but thrive. Across all the domains we operate in, we seek to align our strategies and actions to enable our clients grow their revenues and improve customer experiences. The framework we deploy to deliver this is innovation which is consistent and continuous. Today, innovation is a nonlinear concept that requires organisations to be in-step with the frenetic rate of change on the technology paradigm, and the proliferation of multiple media. At the same time, it requires a consistent upping of the game in predicting, fielding and solving customer needs. At Firstsource, we believe innovation is a bridge between the needs of consumers and delivering superior stakeholder value.

We put into practice multiple tools from our innovation framework, such as diverse platforms, newer and more thoughtful custom products designed for our clients and superior data analytics to communicate with our clients and their customers across the constantly shifting paradigm. It is this ability to innovate across relevant client needs that sets Firstsource apart, and acts as our biggest differentiator. We believe in aligning ourselves seamlessly with client objectives, in order that we remain the partner of choice. This, in turn, leads us to deliver excellence, across all that we do.

World of Firstsource

We are a leading business process management company, providing customer-centric business process services. Our network of delivery centres encompasses India, the Philippines, Sri Lanka, the UK and the US.

We leverage our `Right-shore' delivery model to serve organisations in the Banking and Financial Services, Insurance, Healthcare, Telecommunications & Media, and Publishing sectors. We assimilated best-of-breed processes, developed intellectual property, adopted cuttingedge technology, ensured on-time delivery and invested in quality services to confirm maximum customer satisfaction. We helped our clients to reduce operational costs, record process improvements and more importantly, focus on their core competence.

CORE VALUES

Innovation Always think of new ways to add value

Integrity Be ethical, honest and proper in all interactions

People-centricity Performance-driven people are our greatest assets

Agility To stay nimble and move quickly, regardless of our size

Collaboration The best work happens when individuals commit to shared goals

Excellence Raise the bar, every single time

VISION

To be among the top two leaders in the markets we choose to compete in, and be recognised as the most trusted partner to our global clients. We will achieve this by simplifying complex business processes through operational excellence and innovation.

OUR INDUSTRY COVERAGE

Healthcare

Banking, Financial services and Insurance

Telecommunications and Media

STOCK DETAILS

BSE code: 532809 NSE symbol: FSL Number of outstanding shares: 66.63 crores as on 31st March, 2015

02

ANNUAL REPORT 2014-15

7th

RANK AMONG THE TOP 10 `BPO COMPANIES 2014' BY NASSCOM

WORLD OF FIRSTSOURCE

OUR SERVICE OFFERINGS

We help clients optimise business processes by providing customised Business Process Outsourcing (BPO)/ Business process management (BPM) services. We offer wide range of services throughout the customer lifecycle. They include:

Customer management

Collections management

Data processing and transaction processing

Consulting

OUR TOP CLIENT PROFILES Healthcare

5 of the top 10 health insurance/managed care companies in the US 700+ hospitals in the US

Telecom and Media

Banking, Financial Services and Insurance (BFSI)

2 of the top 10 US telecom companies

1 of the top 3 mobile service providers in the UK

Largest pay TV operator in the UK

Largest pay TV operator in Australia

3 of the Top 5 mobile service providers in India

Largest telecom company in Sri Lanka

One of the world's largest Media & Entertainment conglomerates

UK's largest News & Broadcasting company

6 of the top 10 credit card issuers in the US

2 of the leading consumer finance companies in the US

Largest retail bank and mortgage lender in the UK

1 of the top 3 motor insurers in the UK

A leading Irish Bank

1 of the top 5 private banks of India and a leading private life insurer

1 of the UK's statutory compensation provider

A leading financial institution in Northern Europe

9

FTSE 100 COMPANIES FORM OUR CLIENT BASE

21

FORTUNE 500 COMPANIES FORM OUR CLIENT BASE

25,000+

GLOBAL EMPLOYEE BASE

47

GLOBAL DELIVERY LOCATIONS

CORPORATE OVERVIEW

03

Our Performance

` 2,059 Cr

MARKET CAPITALISATION AS ON 31ST MARCH, 2015

3.8%

CAGR IN REVENUE IN THE PRECEDING 3 YEARS

16.7%

CAGR IN OPERATING EBITDA IN THE PRECEDING 3 YEARS

26.4%

CAGR IN PROFIT AFTER TAX IN THE PRECEDING 3 YEARS

Revenue

` in Million

Operating EBIDTA & Operating EBIT

` in Million

3,621 2,864

3,808 3,086

30,347 31,059 28,185

2,796

1,912

2014-15 2013-14 2012-13

2014-15 2013-14 2012-13

04

ANNUAL REPORT 2014-15

EBITDA

EBIT

OUR PERFORMANCE

Revenue Contribution by Industry

% Revenue Contribution by Geography

%

Telecom & Media

42.5

Healthcare

35.8

BFSI

21.5

Others

0.2

US

49.2

UK

35.9

INDIA

8.2

Rest of the world

6.7

Profit After Tax

` in Million

Employees and Seats

Nos.

31,872

27,666 23,388

24,053

25,285 24,001

2,343 1,930 1,466

2014-15 2013-14 2012-13

2014-15 2013-14 2012-13

Employees

Seats

CORPORATE OVERVIEW

05

Differentiation through Innovation

Today's ever connected and socially networked customer is a lot more dynamic and demanding. At Firstsource, we recognise that the companies that are able to deliver high level of service experience create a formidable competitive advantage.

Through an effective implementation of our innovation framework, we provide customers with seamless anytime, anywhere experience while at the same time committing high levels of productivity and cost efficiencies to our clients. Our matured, welldefined and structured processes help us go beyond the obvious and to create a more favourable impact on the customer. This in turn helps our client to convert more customers to `promoters' of their brand and helps them grow their business.

We facilitate the above mentioned migration, by providing high level service through a repository of modern tools, developed in-house or through partnerships. These tools help us analyse and synthesise customer interactions into more meaningful insights potent to deliver prompt and improved customer experience.

During the year, we launched First WFSuite, our fifth productised solution from the Customer Management Product portfolio. First WFSuite helps improve efficiency and effectiveness of a contact centre's most critical resource, i.e. its manpower. It devises the workforce optimisation strategy for the contact centre, develops the entire workforce optimisation capability and sets up and manages the end-to-end Workforce Optimisation practise from your desired location to deliver better service, improve efficiency and contain costs.

06

ANNUAL REPORT 2014-15

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download