BLS International Services Ltd

BLS Internat. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

BLS International Services Ltd

₹ 334 -0.83%
25 Apr - close price
blsinternational.com BSE: 540073 NSE : BLS
About

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]

Key Points

Journey
2005-2010 - Started Visa processing services in niche, untapped market.
2011-2015 - Added seven Indian missions abroad including the prestigious and high volume locations of US and Canada.
2016-17 - Got listed on NSE and BSE and it is the only Indian origin visa outsourcing company in the listed space.
After 2018 - Expanded operations in 11 more cities for attestation services.
It also commenced operations for the Embassy of Vietnam and Lebanon in India.[1]
The group serves 20 Indian diplomatic missions in various geographies.

Website BSE NSE
  • Market Cap ₹ 13,738 Cr.
  • Current Price ₹ 334
  • High / Low ₹ 430 / 166
  • Stock P/E 416
  • Book Value ₹ 1.90
  • Dividend Yield 0.22 %
  • ROCE 56.5 %
  • ROE 50.0 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 40.6%
  • Company has been maintaining a healthy dividend payout of 59.6%
  • Debtor days have improved from 25.9 to 15.3 days.
  • Company's median sales growth is 36.6% of last 10 years

Cons

  • Stock is trading at 176 times its book value
  • Tax rate seems low
  • Earnings include an other income of Rs.33.8 Cr.
  • Promoter holding has decreased over last 3 years: -3.07%

* 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.

Peer comparison

Sector: IT - Software Industry: Computers - Software - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
6.19 6.50 6.15 7.78 11.35 14.99 15.60 24.04 21.98 25.20 27.53 27.57 23.33
6.16 7.52 6.47 7.93 11.18 12.61 14.86 16.11 19.71 24.02 24.12 21.73 26.84
Operating Profit 0.03 -1.02 -0.32 -0.15 0.17 2.38 0.74 7.93 2.27 1.18 3.41 5.84 -3.51
OPM % 0.48% -15.69% -5.20% -1.93% 1.50% 15.88% 4.74% 32.99% 10.33% 4.68% 12.39% 21.18% -15.05%
0.57 2.29 0.92 3.77 0.90 11.73 16.09 1.41 8.29 11.40 0.44 12.95 9.03
Interest -0.00 0.12 0.02 0.02 0.03 0.02 0.02 0.02 0.03 0.02 0.02 0.81 0.31
Depreciation 0.39 0.73 0.39 0.47 0.50 0.53 0.45 0.55 0.57 1.03 0.88 2.23 1.43
Profit before tax 0.21 0.42 0.19 3.13 0.54 13.56 16.36 8.77 9.96 11.53 2.95 15.75 3.78
Tax % -19.05% -304.76% 31.58% 4.47% 20.37% 7.23% 1.89% 25.09% 23.69% 4.25% 27.46% 6.16% -33.60%
0.25 1.71 0.13 2.99 0.42 12.59 16.04 6.57 7.60 11.04 2.15 14.79 5.05
EPS in Rs 0.01 0.04 0.00 0.07 0.01 0.31 0.39 0.16 0.18 0.27 0.05 0.36 0.12
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3 7 10 14 16 24 41 52 53 20 40 87 104
3 6 8 10 13 19 31 39 40 24 38 74 97
Operating Profit 1 1 2 4 3 5 10 13 13 -3 2 13 7
OPM % 15% 18% 20% 27% 18% 22% 25% 25% 24% -16% 6% 14% 7%
0 0 0 0 2 2 6 9 20 30 17 37 34
Interest 0 0 0 1 1 1 1 2 1 1 0 1 1
Depreciation 0 0 1 2 2 2 2 2 2 2 2 3 6
Profit before tax 0 1 1 1 2 4 13 19 30 24 17 47 34
Tax % -33% 31% 33% 33% 28% 29% 17% 29% 22% 13% 7% 12%
0 1 1 1 1 3 11 13 23 21 16 41 33
EPS in Rs 0.02 0.03 0.08 0.26 0.32 0.56 0.51 0.39 1.00 0.80
Dividend Payout % -0% -0% -0% -0% -0% 114% 49% 77% 44% 25% 79% 75%
Compounded Sales Growth
10 Years: 29%
5 Years: 16%
3 Years: 18%
TTM: 35%
Compounded Profit Growth
10 Years: 49%
5 Years: 26%
3 Years: 14%
TTM: -23%
Stock Price CAGR
10 Years: %
5 Years: 59%
3 Years: 144%
1 Year: 87%
Return on Equity
10 Years: 39%
5 Years: 44%
3 Years: 41%
Last Year: 50%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Equity Capital 10 10 10 10 10 10 10 10 10 10 10 41
Reserves 1 1 2 3 4 8 15 24 31 45 49 37
-0 -0 -0 7 3 2 5 8 1 1 1 1
1 4 2 2 6 7 19 26 24 8 29 17
Total Liabilities 12 16 15 23 23 27 50 68 67 65 89 96
1 3 2 6 4 5 4 4 4 4 4 8
CWIP -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0
Investments 9 2 2 2 2 3 4 5 5 1 1 33
1 11 11 15 17 19 42 59 57 60 84 54
Total Assets 12 16 15 23 23 27 50 68 67 65 89 96

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1 -7 0 2 2 1 10 22 1 -26 -0 -6
-0 8 0 -8 1 0 -7 -21 24 33 19 35
-0 -0 -0 6 -2 -2 -1 -3 -23 -9 -14 -23
Net Cash Flow 0 1 1 -0 2 -1 3 -2 2 -3 4 5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 35 7 33 50 26 63 105 27 26 45 18 15
Inventory Days -0
Days Payable
Cash Conversion Cycle 35 7 33 50 26 63 105 27 26 45 18 15
Working Capital Days 38 -79 -25 -43 63 79 118 130 124 570 -133 6
ROCE % 2% 9% 9% 13% 12% 30% 55% 58% 73% 49% 31% 57%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.59% 74.59% 74.59% 74.59% 74.59% 74.41% 74.41% 74.41% 71.68% 71.52% 71.52% 71.52%
0.75% 0.72% 1.47% 1.36% 4.32% 6.67% 8.20% 7.57% 8.46% 7.66% 7.56% 7.67%
0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.05% 0.05% 0.05% 0.07% 0.89% 1.05%
24.51% 24.53% 23.86% 24.01% 21.06% 18.64% 17.30% 17.92% 19.78% 20.49% 19.93% 19.65%
0.16% 0.16% 0.08% 0.04% 0.03% 0.24% 0.06% 0.05% 0.04% 0.26% 0.11% 0.10%
No. of Shareholders 39,77842,49043,46841,70257,53162,49985,08187,06888,43596,1191,11,2401,44,947

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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