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 38.91%
Cons:
Tax rate seems low
Earnings include an other income of Rs.42.57 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

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
124 154 163 194 195 187 203 205 201 182 184 236
117 141 135 160 152 143 165 171 152 146 172 226
Operating Profit 8 12 28 34 43 43 38 34 50 36 12 11
OPM % 6% 8% 17% 18% 22% 23% 19% 17% 25% 20% 7% 4%
Other Income 1 1 1 0 1 1 1 2 1 9 17 15
Interest 0 1 2 2 3 3 4 3 3 3 0 4
Depreciation 1 2 6 17 10 10 10 10 5 5 5 4
Profit before tax 7 10 21 15 32 31 25 23 42 38 24 18
Tax % 0% 9% 20% -13% 8% 14% 18% 11% 19% 13% 11% 5%
Net Profit 7 9 17 17 29 27 21 20 34 33 21 17
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 TTM
450 505 635 789 804
420 467 551 629 695
Operating Profit 30 38 84 160 108
OPM % 7% 7% 13% 20% 13%
Other Income 0 0 3 4 43
Interest 2 1 7 13 10
Depreciation 5 6 26 40 19
Profit before tax 24 31 53 111 122
Tax % 1% 1% 6% 13%
Net Profit 24 31 50 97 105
EPS in Rs 4.89 9.42
Dividend Payout % 0% 0% 7% 5%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:20.58%
TTM:1.87%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:59.93%
TTM:8.85%
Return on Equity
10 Years:%
5 Years:%
3 Years:38.91%
Last Year:45.34%

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 29
13 13 38 101 76
Total Liabilities 103 137 299 470 477
24 24 78 49 33
CWIP 0 0 0 0 21
Investments 2 2 32 28 28
78 111 189 393 395
Total Assets 103 137 299 470 477

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

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

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 30% 32% 39%
Debtor Days 5 2 34 98
Inventory Turnover