I don't think you need INDIRECT. Anyway, try this one
=SUMPRODUCT(--(ISNUMBER(SEARCH("*88DAA*",FSR!$B$2:$B$1500))),--ISNUMBER(SEARCH("*MG*",FSR!$G$2:$G$1500)),--(FSR!$K$2:$K$1500>50))
I don't think you need INDIRECT. Anyway, try this one
=SUMPRODUCT(--(ISNUMBER(SEARCH("*88DAA*",FSR!$B$2:$B$1500))),--ISNUMBER(SEARCH("*MG*",FSR!$G$2:$G$1500)),--(FSR!$K$2:$K$1500>50))
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