BLS International Services Ltd
BLS International Services Limited (BLS), a part of the four-decades-old BLS Group with a global presence and diversified range of services, and is the biggest global players in visa application outsourcing.[1]
- Market Cap ₹ 12,894 Cr.
- Current Price ₹ 313
- High / Low ₹ 522 / 277
- Stock P/E 1,719
- Book Value ₹ 1.83
- Dividend Yield 0.32 %
- ROCE 19.0 %
- ROE 22.0 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 37.1%
- Company has been maintaining a healthy dividend payout of 124%
- Company's median sales growth is 26.4% of last 10 years
Cons
- Stock is trading at 171 times its book value
- Earnings include an other income of Rs.30.9 Cr.
- Company's cost of borrowing seems high
- Promoter holding has decreased over last 3 years: -4.01%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 14 | 16 | 24 | 41 | 52 | 53 | 20 | 40 | 87 | 119 | 138 | 157 | |
| 8 | 10 | 13 | 19 | 31 | 39 | 40 | 24 | 38 | 74 | 106 | 144 | 157 | |
| Operating Profit | 2 | 4 | 3 | 5 | 10 | 13 | 13 | -3 | 2 | 13 | 13 | -6 | 0 |
| OPM % | 20% | 27% | 18% | 22% | 25% | 25% | 24% | -16% | 6% | 14% | 11% | -4% | 0% |
| 0 | 0 | 2 | 2 | 6 | 9 | 20 | 30 | 17 | 37 | 35 | 47 | 31 | |
| Interest | 0 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 0 | 1 | 2 | 4 | 6 |
| Depreciation | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 6 | 13 | 16 |
| Profit before tax | 1 | 1 | 2 | 4 | 13 | 19 | 30 | 24 | 17 | 47 | 40 | 23 | 9 |
| Tax % | 33% | 33% | 28% | 29% | 17% | 29% | 22% | 13% | 7% | 12% | 8% | 5% | |
| 1 | 1 | 1 | 3 | 11 | 13 | 23 | 21 | 16 | 41 | 37 | 22 | 8 | |
| EPS in Rs | 0.02 | 0.03 | 0.08 | 0.26 | 0.32 | 0.56 | 0.51 | 0.39 | 1.00 | 0.90 | 0.53 | 0.19 | |
| Dividend Payout % | 0% | 0% | 0% | 114% | 49% | 77% | 44% | 25% | 79% | 75% | 111% | 187% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 21% |
| 3 Years: | 51% |
| TTM: | 16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 41% |
| 5 Years: | -1% |
| 3 Years: | 10% |
| TTM: | -81% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 74% |
| 3 Years: | 20% |
| 1 Year: | -19% |
| Return on Equity | |
|---|---|
| 10 Years: | 38% |
| 5 Years: | 36% |
| 3 Years: | 37% |
| Last Year: | 22% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 41 | 41 | 41 | 41 |
| Reserves | 2 | 3 | 4 | 8 | 15 | 24 | 31 | 45 | 49 | 37 | 48 | 66 | 34 |
| 0 | 7 | 3 | 2 | 5 | 8 | 1 | 1 | 1 | 1 | 19 | 70 | 7 | |
| 2 | 2 | 6 | 7 | 19 | 26 | 24 | 8 | 29 | 17 | 21 | 42 | 134 | |
| Total Liabilities | 15 | 23 | 23 | 27 | 50 | 68 | 67 | 65 | 89 | 96 | 129 | 219 | 216 |
| 2 | 6 | 4 | 5 | 4 | 4 | 4 | 4 | 4 | 8 | 31 | 87 | 82 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 2 | 2 | 2 | 3 | 4 | 5 | 5 | 1 | 1 | 33 | 36 | 42 | 67 |
| 11 | 15 | 17 | 19 | 42 | 59 | 57 | 60 | 84 | 54 | 61 | 90 | 67 | |
| Total Assets | 15 | 23 | 23 | 27 | 50 | 68 | 67 | 65 | 89 | 96 | 129 | 219 | 216 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 2 | 2 | 1 | 10 | 22 | 1 | -26 | -0 | -6 | -0 | 25 | |
| 0 | -8 | 1 | 0 | -7 | -21 | 24 | 33 | 19 | 35 | 26 | 30 | |
| 0 | 6 | -2 | -2 | -1 | -3 | -23 | -9 | -14 | -23 | -31 | -30 | |
| Net Cash Flow | 1 | -0 | 2 | -1 | 3 | -2 | 2 | -3 | 4 | 5 | -5 | 25 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 33 | 50 | 26 | 63 | 105 | 27 | 26 | 45 | 18 | 15 | 56 | 36 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 33 | 50 | 26 | 63 | 105 | 27 | 26 | 45 | 18 | 15 | 56 | 36 |
| Working Capital Days | -25 | -43 | 63 | 78 | 92 | 86 | 124 | 563 | -138 | 4 | 43 | -53 |
| ROCE % | 9% | 13% | 12% | 30% | 55% | 58% | 73% | 49% | 31% | 57% | 45% | 19% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
18 Nov - Q2 FY26: Revenue INR737cr, PAT INR186cr; won ~INR2,000cr Aadhaar contract over six years; visa volumes 11.3 lakh.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
17 Nov - Management to meet analysts at Kotak Midcap Conference on Nov 20, 2025 (Mumbai).
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Nov
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Audio Recording Of Earnings Call On Operational And Financial Performance For The Second Quarter Ended September 30, 2025
12 Nov - Audio recording of Q2 earnings call (ended Sep 30, 2025) available on company website.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
12 Nov - In compliance with Regulation 47 of the SEBI (LODR) Regulations, 2015 (including any statutory modification(s), amendment(s) and re-enactment(s) thereof), we are hereby enclosing copies of …
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Concalls
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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Feb 2024Transcript PPT
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Feb 2024TranscriptNotesPPT
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Nov 2023Transcript PPT
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Oct 2021Transcript PPT
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Jul 2021Transcript PPT
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Jun 2021Transcript PPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Jul 2020TranscriptNotesPPT
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Jun 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
Business Segments