BLS International Services Ltd

BLS International Services is an India-based company, which provides outsourcing of visa, passport and attestation services to the client governments across the world.

Pros:
Company has reduced debt.
Company is virtually debt free.
Company has a good return on equity (ROE) track record: 3 Years ROE 33.01%
Cons:
Tax rate seems low
Earnings include an other income of Rs.44.64 Cr.
** Remarks:
Some businesses are provided tax benefits to encourage their development

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
154 163 194 195 187 203 205 201 182 184 236 227
141 135 160 152 143 165 171 152 146 172 226 200
Operating Profit 12 28 34 43 43 38 34 50 36 12 11 27
OPM % 8% 17% 18% 22% 23% 19% 17% 25% 20% 7% 4% 12%
Other Income 1 1 0 1 1 1 2 1 9 17 15 3
Interest 1 2 2 3 3 4 3 3 3 0 4 1
Depreciation 2 6 17 10 10 10 10 5 5 5 4 3
Profit before tax 10 21 15 32 31 25 23 42 38 24 18 26
Tax % 9% 20% -13% 8% 14% 18% 11% 19% 13% 11% 5% 15%
Net Profit 9 17 17 29 27 21 20 34 33 21 17 22
EPS in Rs 0.88 1.63 1.68 2.84 2.62 2.01 1.96 3.32 3.22 2.10 1.63 2.14
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
450 505 635 789 804 830
420 467 551 629 693 743
Operating Profit 30 38 84 160 111 86
OPM % 7% 7% 13% 20% 14% 10%
Other Income 0 0 3 4 43 45
Interest 2 1 7 13 13 8
Depreciation 5 6 26 40 19 17
Profit before tax 24 31 53 111 122 105
Tax % 1% 1% 6% 13% 14%
Net Profit 24 31 50 97 105 93
EPS in Rs 4.89 9.42 10.27 9.09
Dividend Payout % 0% 0% 7% 5% 10%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:16.76%
TTM:4.31%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:34.38%
TTM:-8.45%
Return on Equity
10 Years:%
5 Years:%
3 Years:33.01%
Last Year:23.70%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
10 10 10 10 10
Reserves 73 108 155 250 362
Borrowings 7 6 95 108 38
13 13 38 102 68
Total Liabilities 103 137 299 470 478
24 24 78 49 51
CWIP 0 0 0 0 3
Investments 2 2 32 28 28
78 111 189 393 396
Total Assets 103 137 299 470 478

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
13 36 48 56 136
-11 -7 -115 -27 -68
6 -2 84 -2 -87
Net Cash Flow 8 27 17 27 -20

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 30% 32% 40% 26%
Debtor Days 5 2 34 98 80
Inventory Turnover