BLS International Services Ltd

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

BLS International Services Ltd

₹ 251 -1.51%
28 Sep - 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 ₹ 10,318 Cr.
  • Current Price ₹ 251
  • High / Low ₹ 302 / 135
  • Stock P/E 43.2
  • Book Value ₹ 19.5
  • Dividend Yield 0.30 %
  • ROCE 31.6 %
  • ROE 29.5 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter

Cons

  • Stock is trading at 12.8 times its book value
  • Promoter holding has decreased over last quarter: -2.73%
  • Tax rate seems low

* 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

Consolidated Figures in Rs. Crores / View Standalone

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
52 131 150 145 179 190 227 254 273 357 438 449 383
49 118 137 134 160 163 202 219 241 300 372 382 303
Operating Profit 3 13 13 10 19 28 26 35 31 57 66 67 80
OPM % 6% 10% 9% 7% 11% 14% 11% 14% 11% 16% 15% 15% 21%
3 4 4 8 4 3 3 5 4 3 -18 29 7
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 2 2 2 2 2 2 2 2 3 4 4 8 6
Profit before tax 4 14 14 16 21 28 27 37 32 56 45 87 80
Tax % 121% 3% 1% -47% 3% 3% -3% 6% 5% 9% -3% 12% 12%
-1 14 14 23 20 27 28 35 31 51 46 77 71
EPS in Rs -0.02 0.33 0.34 0.57 0.50 0.67 0.69 0.86 0.74 1.23 1.23 1.68 1.68
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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 TTM
450 505 635 789 804 786 478 850 1,516 1,627
420 467 551 629 693 700 437 742 1,293 1,357
Operating Profit 30 38 84 160 111 86 41 108 223 270
OPM % 7% 7% 13% 20% 14% 11% 9% 13% 15% 17%
0 0 3 4 43 -15 19 15 19 22
Interest 2 1 7 13 13 4 2 2 3 1
Depreciation 5 6 26 40 19 12 9 7 18 22
Profit before tax 24 31 53 111 122 55 48 114 220 268
Tax % 1% 1% 6% 13% 14% 4% -4% 2% 7%
24 31 50 97 105 52 50 111 204 245
EPS in Rs 0.58 0.75 1.22 2.36 2.57 1.28 1.22 2.72 4.89 5.82
Dividend Payout % 0% 0% 7% 5% 10% 20% 10% 12% 15%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 24%
TTM: 72%
Compounded Profit Growth
10 Years: %
5 Years: 16%
3 Years: 38%
TTM: 97%
Stock Price CAGR
10 Years: %
5 Years: 49%
3 Years: 123%
1 Year: 84%
Return on Equity
10 Years: %
5 Years: 22%
3 Years: 22%
Last Year: 30%

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
10 10 10 10 10 10 10 10 41
Reserves 73 108 155 250 362 418 450 560 762
7 6 95 108 38 1 1 11 7
13 13 36 101 66 40 38 52 136
Total Liabilities 103 137 297 470 475 469 498 633 945
24 24 78 49 51 41 38 112 234
CWIP 0 0 0 0 3 0 0 0 0
Investments 2 2 32 28 28 29 24 70 88
78 111 187 393 393 400 436 451 623
Total Assets 103 137 297 470 475 469 498 633 945

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
13 36 48 56 133 116 45 185 261
-11 -7 -115 -27 -66 -107 -22 -172 -238
6 -2 84 -2 -87 -54 -9 -12 7
Net Cash Flow 8 27 17 27 -20 -45 13 2 30

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
Debtor Days 5 2 34 98 80 52 76 10 8
Inventory Days
Days Payable
Cash Conversion Cycle 5 2 34 98 80 52 76 10 8
Working Capital Days 28 36 41 71 64 51 77 9 -1
ROCE % 30% 31% 39% 26% 21% 11% 22% 32%

Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
74.40% 74.40% 74.59% 74.59% 74.59% 74.59% 74.59% 74.59% 74.41% 74.41% 74.41% 71.68%
2.62% 2.13% 1.22% 0.75% 0.72% 1.47% 1.36% 4.32% 6.67% 8.20% 7.57% 8.46%
0.11% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.05% 0.05% 0.05%
22.71% 23.20% 24.03% 24.51% 24.53% 23.86% 24.01% 21.06% 18.64% 17.30% 17.92% 19.78%
0.16% 0.16% 0.16% 0.16% 0.16% 0.08% 0.04% 0.03% 0.24% 0.06% 0.05% 0.04%
No. of Shareholders 17,68418,03831,99739,77842,49043,46841,70257,53162,49985,08187,06888,435

* 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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