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 21.4
- Book Value ₹ 51.7
- Dividend Yield 0.32 %
- ROCE 33.6 %
- ROE 34.3 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 45.7% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.2%
Cons
- Tax rate seems low
- 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 450 | 505 | 635 | 789 | 804 | 786 | 478 | 850 | 1,516 | 1,677 | 2,193 | 2,653 | |
| 420 | 467 | 551 | 629 | 693 | 700 | 437 | 742 | 1,293 | 1,326 | 1,545 | 1,904 | |
| Operating Profit | 30 | 38 | 84 | 160 | 111 | 86 | 41 | 108 | 223 | 351 | 649 | 749 |
| OPM % | 7% | 7% | 13% | 20% | 14% | 11% | 9% | 13% | 15% | 21% | 30% | 28% |
| 0 | 0 | 3 | 4 | 43 | -15 | 19 | 15 | 19 | 40 | 80 | 83 | |
| Interest | 2 | 1 | 7 | 13 | 13 | 4 | 2 | 2 | 3 | 8 | 47 | 33 |
| Depreciation | 5 | 6 | 26 | 40 | 19 | 12 | 9 | 7 | 18 | 31 | 77 | 90 |
| Profit before tax | 24 | 31 | 53 | 111 | 122 | 55 | 48 | 114 | 220 | 352 | 606 | 710 |
| Tax % | 1% | 1% | 6% | 13% | 14% | 4% | -4% | 2% | 7% | 8% | 11% | |
| 24 | 31 | 50 | 97 | 105 | 52 | 50 | 111 | 204 | 326 | 540 | 640 | |
| EPS in Rs | 0.58 | 0.75 | 1.22 | 2.36 | 2.57 | 1.28 | 1.22 | 2.72 | 4.89 | 7.60 | 12.34 | 14.62 |
| Dividend Payout % | 0% | 0% | 7% | 5% | 10% | 20% | 10% | 12% | 15% | 13% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 23% |
| 3 Years: | 37% |
| TTM: | 42% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 36% |
| 5 Years: | 46% |
| 3 Years: | 65% |
| TTM: | 44% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 74% |
| 3 Years: | 20% |
| 1 Year: | -19% |
| Return on Equity | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 29% |
| 3 Years: | 32% |
| Last Year: | 34% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 41 | 41 | 41 | 41 |
| Reserves | 73 | 108 | 155 | 250 | 362 | 418 | 450 | 560 | 762 | 1,166 | 1,690 | 2,089 |
| 7 | 6 | 95 | 108 | 38 | 1 | 1 | 11 | 7 | 31 | 359 | 404 | |
| 13 | 13 | 36 | 101 | 66 | 40 | 38 | 52 | 136 | 378 | 714 | 805 | |
| Total Liabilities | 103 | 137 | 297 | 470 | 475 | 469 | 498 | 633 | 945 | 1,616 | 2,804 | 3,339 |
| 24 | 24 | 78 | 49 | 51 | 41 | 38 | 112 | 234 | 296 | 1,363 | 1,494 | |
| CWIP | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 11 | 12 |
| Investments | 2 | 2 | 32 | 28 | 28 | 29 | 24 | 70 | 88 | 116 | 220 | 271 |
| 78 | 111 | 187 | 393 | 393 | 400 | 436 | 451 | 623 | 1,205 | 1,210 | 1,562 | |
| Total Assets | 103 | 137 | 297 | 470 | 475 | 469 | 498 | 633 | 945 | 1,616 | 2,804 | 3,339 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 13 | 36 | 48 | 56 | 133 | 116 | 45 | 185 | 261 | 350 | 829 | |
| -11 | -7 | -115 | -27 | -66 | -107 | -22 | -172 | -238 | -260 | -1,119 | |
| 6 | -2 | 84 | -2 | -87 | -54 | -9 | -12 | 7 | 257 | 158 | |
| Net Cash Flow | 8 | 27 | 17 | 27 | -20 | -45 | 13 | 2 | 30 | 347 | -131 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 5 | 2 | 34 | 98 | 80 | 52 | 76 | 10 | 8 | 9 | 20 |
| Inventory Days | |||||||||||
| Days Payable | |||||||||||
| Cash Conversion Cycle | 5 | 2 | 34 | 98 | 80 | 52 | 76 | 10 | 8 | 9 | 20 |
| Working Capital Days | 28 | 36 | 20 | 46 | 51 | 51 | 77 | 7 | -2 | -4 | -42 |
| ROCE % | 30% | 31% | 39% | 26% | 21% | 11% | 22% | 32% | 31% | 34% |
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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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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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