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 ₹ 1,644 Cr.
- Current Price ₹ 181
- High / Low ₹ 291 / 131
- Stock P/E 59.9
- Book Value ₹ 44.8
- Dividend Yield 0.00 %
- ROCE 9.16 %
- ROE 6.99 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 66.2% CAGR over last 5 years
- Debtor days have improved from 29.6 to 21.6 days.
Cons
- Stock is trading at 4.02 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 5.45% over last 3 years.
- Earnings include an other income of Rs.19.0 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
Sector: IT - Software Industry: Computers - Software - Medium / Small
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 | |
|---|---|---|---|---|---|---|
| 1 | 2 | 10 | 21 | 40 | 67 | |
| 3 | 2 | 19 | 11 | 29 | 46 | |
| Operating Profit | -2 | -0 | -9 | 10 | 11 | 21 |
| OPM % | -193% | -11% | -83% | 47% | 27% | 31% |
| 1 | 2 | 0 | -2 | 3 | 19 | |
| Interest | 2 | 1 | 1 | 6 | 3 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | -3 | 1 | -9 | 2 | 11 | 37 |
| Tax % | 0% | 0% | -29% | 36% | 31% | 25% |
| -3 | 1 | -7 | 1 | 7 | 27 | |
| EPS in Rs | -2,570.00 | 860.00 | -6,530.00 | 0.15 | 0.80 | 3.02 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 135% |
| 3 Years: | 86% |
| TTM: | 68% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 66% |
| 3 Years: | 84% |
| TTM: | 281% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -36% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 5% |
| Last Year: | 7% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 67 | 91 | 91 |
| Reserves | 13 | 14 | 8 | 26 | 302 | 316 |
| 12 | 11 | 7 | 35 | 32 | 29 | |
| 6 | 7 | 5 | 12 | 17 | 23 | |
| Total Liabilities | 31 | 32 | 20 | 139 | 442 | 459 |
| 0 | 0 | 0 | 0 | 1 | 1 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 6 |
| Investments | 12 | 13 | 13 | 131 | 131 | 131 |
| 19 | 20 | 7 | 8 | 310 | 321 | |
| Total Assets | 31 | 32 | 20 | 139 | 442 | 459 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 7 | 2 | 9 | 12 | 4 | 9 | |
| -3 | -0 | -0 | -118 | -287 | 26 | |
| -8 | -1 | -9 | 107 | 288 | -33 | |
| Net Cash Flow | -4 | 0 | 0 | 1 | 5 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 6,547 | 3,620 | 0 | 31 | 36 | |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | |
| Days Payable | ||||||
| Cash Conversion Cycle | 6,547 | 3,620 | 0 | 31 | 36 | |
| Working Capital Days | 5,098 | 2,632 | -51 | -57 | -47 | |
| ROCE % | 7% | -43% | 14% | 5% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
21h - CRISIL monitoring report confirms IPO proceeds used as per plan with some delays, no material deviations.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
1d - Read with Schedule III of SEBI (LODR) Regulations 2015, please find enclosed an Investor Presentation with respect to Audited financial results of the Company for …
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - BLS E-Services reports 76% revenue growth to Rs. 545 Cr, PAT Rs. 58.8 Cr, declares maiden Rs. 1 dividend.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
1d - Read with Schedule III of SEBI (LODR) Regulations 2015, please find enclosed an Investor Presentation with respect to Audited financial results of the Company for …
-
Announcement under Regulation 30 (LODR)-Dividend Updates
1d - Approved FY25 audited results; final 10% dividend recommended; key management changes; auditor appointments.
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