
BLS - BLS International Services Ltd Share Price
Leisure Services
Valuation | |
|---|---|
| Market Cap | 13.25 kCr |
| Price/Earnings (Trailing) | 23.46 |
| Price/Sales (Trailing) | 5.3 |
| EV/EBITDA | 16.81 |
| Price/Free Cashflow | 19.65 |
| MarketCap/EBT | 19.75 |
| Enterprise Value | 13.25 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 2.5 kCr |
| Rev. Growth (Yr) | 44.2% |
| Earnings (TTM) | 599.84 Cr |
| Earnings Growth (Yr) | 49.8% |
Profitability | |
|---|---|
| Operating Margin | 27% |
| EBT Margin | 27% |
| Return on Equity | 29.71% |
| Return on Assets | 21.38% |
| Free Cashflow Yield | 5.09% |
Price to Sales Ratio
Revenue (Last 12 mths)
Net Income (Last 12 mths)
Growth & Returns | |
|---|---|
| Price Change 1W | 4.7% |
| Price Change 1M | -2.5% |
| Price Change 6M | -6.2% |
| Price Change 1Y | -20% |
| 3Y Cumulative Return | 24.3% |
| 5Y Cumulative Return | 71.7% |
| 7Y Cumulative Return | 38.5% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -1.12 kCr |
| Cash Flow from Operations (TTM) | 828.83 Cr |
| Cash Flow from Financing (TTM) | 158.49 Cr |
| Cash & Equivalents | 282.86 Cr |
| Free Cash Flow (TTM) | 667.62 Cr |
| Free Cash Flow/Share (TTM) | 16.21 |
Balance Sheet | |
|---|---|
| Total Assets | 2.81 kCr |
| Total Liabilities | 786.98 Cr |
| Shareholder Equity | 2.02 kCr |
| Current Assets | 1.14 kCr |
| Current Liabilities | 488.81 Cr |
| Net PPE | 320.83 Cr |
| Inventory | 48.66 L |
| Goodwill | 994.53 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.07 |
| Debt/Equity | 0.1 |
| Interest Coverage | 19.8 |
| Interest/Cashflow Ops | 26.69 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 1 |
| Dividend Yield | 0.31% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.50% |
Summary of Latest Earnings Report from BLS International Services
Summary of BLS International Services's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated:
Management provided an optimistic outlook for BLS International Services Limited, highlighting strong performance metrics and growth potential. The company achieved the highest-ever quarterly revenue of Rs. 710 crores for Q1 FY '26, representing a 44% year-on-year increase from Rs. 493 crores in Q1 FY '25. This growth was driven by consolidating recently acquired businesses like iDATA, Citizenship Invest, and Aadifidelis Solutions.
Key forward-looking points from management include:
EBITDA Growth: EBITDA grew by 53% to Rs. 204 crores, with an EBITDA margin expanding by 171 basis points to 28.7%. The Visa and Consular segment delivered strong performance with an EBITDA margin of 40.4%, up from 29.3% in Q1 FY '25.
Visa and Consular Services: Revenue from this segment increased by 11% to Rs. 461 crores, driven by a 33.6% increase in application volumes, reaching 11.4 lakh applications. This segment continues to support the company's long-term growth ambitions.
Digital Services Expansion: A significant surge in digital services revenue, up 218% year-on-year to Rs. 250 crores, was noted. This growth was influenced by the consolidation of Aadifidelis and expansion in the Business Correspondent business.
Market Opportunity: The global visa outsourcing market is projected to grow at a CAGR of 14%, reaching USD 8.2 billion by 2028, indicating a substantial opportunity for BLS to capitalize on.
Sustainable Value Creation: Management emphasized commitment to maintaining a growth trajectory of 20%-25% in revenue and profitability over the next few years, aided by strategic partnerships and diversified offerings.
With a healthy net cash position of Rs. 1,126 crores, the company remains poised for future acquisitions and business expansion, while focusing on delivering sustainable long-term value.
Last updated:
Q&A Section Summary
Question: Arpit Shah: I just wanted to congratulate the management for this quarter's performance... How do we stack up against VFS, and what is our roadmap?
Answer: Thank you, Arpit. We aim to maintain our margins, already at 40% in Visa services. While VFS's valuation is high, we hold a 16%-17% market share globally. We expect a growth rate of 20%-25% annually over the next few years, leveraging new tenders and market opportunities.
Question: Ravi Naredi: What is our plan to use Rs. 1,100 crores cash immediately? Any acquisition on card?
Answer: We are exploring various opportunities but currently focusing on consolidating previous acquisitions. There's nothing finalized at this moment, but we have an M&A team actively scouting options.
Question: Vansh Solanki: Why did the EBITDA margin decline in the digital services segment?
Answer: The margin declined mainly due to the lower margin of Aadifidelis, which we acquired. While overall performance increased, the average margin took a hit from these results.
Question: Amit Chandra: Can you break down our 44% Y-o-Y growth into organic and inorganic?
Answer: About 35% of our revenue growth is from new acquisitions, contributing similarly to the EBITDA margin. Shifting to self-managed operations has significantly improved our margins going forward.
Question: Gopalakrishnan: Have you reached a saturation point for profit margins?
Answer: We anticipate margins stabilizing while still targeting growth through new contracts and M&A. We expect to continue delivering decent growth over the next few years.
Question: Vivek Gautam: With tightening visa policies, what's the impact on our volumes?
Answer: While countries tighten visa processes, the bottleneck leads to increased application volumes as embassies streamline their operations. The overall demand remains strong.
Question: Sachin: Is there a restriction for us to forward integrate into the travel industry?
Answer: We focus on our core outsourcing services and haven't explored travel agency possibilities, but this remains an option for future consideration.
Question: Dilip: Do you have a presence in France for visa services?
Answer: We continuously bid for contracts globally, including France, and aim to expand our reach as we secure more government contracts.
Revenue Breakdown
Analysis of BLS International Services's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Jun 30, 2025
| Description | Share | Value |
|---|---|---|
| Visa and Consular Services | 64.8% | 460.7 Cr |
| Digital Services | 35.2% | 249.9 Cr |
| Total | 710.6 Cr |
Share Holdings
Understand BLS International Services ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Holding Pattern
Share Holding Details
| Shareholder Name | Holding % |
|---|---|
| Diwakar Aggarwal | 5.76% |
| Azadpur Finvest Private Limited | 4.92% |
| Grb Finvest Private Limited | 4.86% |
| Hawai Capital Private Limited | 4.86% |
| Hillman Properties Private Limited | 4.86% |
| Intime Finance And Investment Private Limited | 4.86% |
| V.s. Estates Private Limited | 4.86% |
| Wonder Rock Finance And Investment Private Li | 4.86% |
| Gaurav Aggarwal . | 4.83% |
| Madhukar Aggarwal | 4.8% |
| Vinod Aggarwal | 4.8% |
| Bls Finvest Limited | 4.48% |
| Goodwork Finvest Private Limited | 4.48% |
| Sixteenth Street Asian Gems Fund | 2.54% |
| Sushil Aggarwal | 2.43% |
| Life Insurance Corporation of India | 2.23% |
| Alka Aggarwal . | 1.94% |
| Shikhar Aggarwal . | 1.92% |
| Jlb Finvest Private Limited | 0.38% |
| Trimurti Finvest Private Limited | 0.38% |
Overall Distribution
Distribution across major stakeholders
Ownership Distribution
Distribution across major institutional holders
Is BLS International Services Better than it's peers?
Detailed comparison of BLS International Services against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| THOMASCOOK | Thomas Cook (India) | 7.58 kCr | 8.61 kCr | +1.10% | -15.70% | 29.91 | 0.88 | - | - |
| SIS | SIS | 4.67 kCr | 14.18 kCr | -3.50% | -16.30% | 88.09 | 0.33 | - | - |
| QUESS | Quess Corp | 3.42 kCr | 16.69 kCr | -10.70% | -67.60% | 39.06 | 0.21 | - | - |
| EASEMYTRIP | Easy Trip Planners | 2.88 kCr | 566.72 Cr | -2.60% | -52.30% | 38.68 | 5.09 | - | - |
| TEAMLEASE | TeamLease Services | 2.85 kCr | 11.74 kCr | -3.60% | -37.00% | 24.27 | 0.24 | - | - |
Sector Comparison: BLS vs Leisure Services
Comprehensive comparison against sector averages
Comparative Metrics
BLS metrics compared to Leisure
| Category | BLS | Leisure |
|---|---|---|
| PE | 23.46 | 55.49 |
| PS | 5.30 | 5.07 |
| Growth | 36.1 % | 15.7 % |
Performance Comparison
BLS vs Leisure (2021 - 2025)
- 1. BLS is among the Top 10 Leisure Services companies but not in Top 5.
- 2. The company holds a market share of 3.3% in Leisure Services.
- 3. In last one year, the company has had an above average growth that other Leisure Services companies.
Income Statement for BLS International Services
Balance Sheet for BLS International Services
Cash Flow for BLS International Services
What does BLS International Services Ltd do?
BLS International Services Limited provides outsourcing and administrative task of visa, passport, and consular services to various diplomatic missions. The company offers citizen and front-end, e-visa, and biometric and identity management services; verification and attestation services; and value-added services, as well as passport and government services. It operates in the Middle East, Asia-Pacific, North America, Europe, Africa, and India. BLS International Services Limited was incorporated in 1983 and is headquartered in New Delhi, India.