BLS E-Services Ltd
Incorporated in 2016, BLS-E Services
Ltd provides Digital Services including
E-Governance, Business Correspondent
and allied services[1]
- Market Cap ₹ 2,615 Cr.
- Current Price ₹ 144
- High / Low ₹ 170 / 62.1
- Stock P/E 161
- Book Value ₹ 23.5
- Dividend Yield 0.35 %
- ROCE 5.45 %
- ROE 4.00 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 81.3% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 28.4%
- Debtor days have improved from 49.7 to 36.1 days.
Cons
- Stock is trading at 6.13 times its book value
- Company has a low return on equity of 4.80% over last 3 years.
- Earnings include an other income of Rs.9.06 Cr.
* 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
Information Technology Information Technology IT - Services IT Enabled Services
Part of BSE Information Technology
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 10 | 21 | 40 | 67 | 87 | 96 | |
| Sales growth | +81% | +506% | +99% | +93% | +68% | +31% | +26% | |
| 3 | 2 | 19 | 11 | 29 | 46 | 76 | 81 | |
| Operating Profit | -2 | -0 | -9 | 10 | 11 | 21 | 11 | 15 |
| OPM % | -193% | -11% | -83% | 47% | 27% | 31% | 13% | 15% |
| 1 | 2 | 0 | -2 | 3 | 19 | 13 | 9 | |
| Interest | 2 | 1 | 1 | 6 | 3 | 2 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before tax | -3 | 1 | -9 | 2 | 11 | 37 | 24 | 22 |
| Tax % | 0% | -0% | -29% | 36% | 31% | 25% | 26% | |
| -3 | 1 | -7 | 1 | 7 | 27 | 17 | 16 | |
| EPS in Rs | 0.08 | 0.40 | 1.51 | 0.96 | 0.89 | |||
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | 33% | 52% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 120% |
| 3 Years: | 62% |
| TTM: | 26% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 81% |
| 3 Years: | 85% |
| TTM: | -23% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 39% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 5% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 67 | 91 | 91 | 91 | 91 |
| Reserves | 13 | 14 | 8 | 26 | 302 | 328 | 332 | 336 |
| 12 | 11 | 7 | 35 | 32 | 4 | 11 | 2 | |
| 6 | 7 | 5 | 12 | 17 | 59 | 37 | 46 | |
| Total Liabilities | 31 | 32 | 20 | 139 | 442 | 482 | 470 | 474 |
| 0 | 0 | 0 | 0 | 1 | 1 | 4 | 7 | |
| CWIP | -0 | -0 | -0 | -0 | -0 | 11 | 15 | 17 |
| Investments | 12 | 13 | 13 | 131 | 131 | 252 | 245 | 399 |
| 19 | 20 | 7 | 8 | 310 | 217 | 207 | 52 | |
| Total Assets | 31 | 32 | 20 | 139 | 442 | 482 | 470 | 474 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 7 | 2 | 9 | 12 | 4 | 9 | 10 | |
| -3 | -0 | -0 | -118 | -287 | 26 | 2 | |
| -8 | -1 | -9 | 107 | 288 | -33 | -9 | |
| Net Cash Flow | -4 | 0 | 0 | 1 | 5 | 2 | 3 |
| Free Cash Flow | 7 | 2 | 9 | 12 | 4 | -2 | 3 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -452% | -1,021% | -105% | 132% | 52% | 91% | 155% |
Ratios
Standalone / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 6,547 | 3,620 | -0 | 31 | 36 | 77 | 36 |
| Inventory Days | -0 | -0 | -0 | -0 | -0 | 3 | |
| Days Payable | 111 | ||||||
| Cash Conversion Cycle | 6,547 | 3,620 | -0 | 31 | 36 | 77 | -71 |
| Working Capital Days | 315 | 266 | -51 | -57 | -49 | -208 | -48 |
| ROCE % | 7% | -43% | 14% | 5% | 9% | 5% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Common Service Centres (CSCs) count |
|
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| Number of Business Correspondents (BCs/CSPs) count |
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| Number of Transactions (BC Business) Million |
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| Bank/NBFC Tie-ups count |
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| Number of Touchpoints (BLS Touchpoints) count |
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| Gross Transaction Value (GTV) Rs. Crores |
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| Loan Lead Generation Value Rs. Crores |
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Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- CRISIL monitoring report for Q2 FY27 shows IPO proceeds used; no deviation reported.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- A transcript of the Earnings Call held on Wednesday, November 4, 2026 to discuss the operational and financial performance of the Company for the quarter …
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 and H1 FY2026 earnings call held November 4, 2026 posted online.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Copies of Newspapaer Publication of Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
- BLS E-Services reported Q2 FY27 total income of Rs. 428 crore, up 55.1% YoY.
Annual reports
-
Annual Report 2026
from bse
-
Annual Report 2025
from bse
-
Annual Report 2024
from bse
Business Overview:[1]
a) BLSe is a subsidiary of BLS International Services Ltd.
b) Company provides digital and physical products and services in the G2C, B2C, B2B categories in semi-urban, rural and remote areas
c) In FY24, company has ~1.21+ Lac Touchpoints, BLS stores ~1,000+, Business Correspondents ~29,700+, Bank Tie-ups (for Business Corspndt.) ~16, and ~130+Million Transactions