Leisure Services
Valuation | |
|---|---|
| Market Cap | 12.36 kCr |
| Price/Earnings (Trailing) | 20.53 |
| Price/Sales (Trailing) | 4.52 |
| EV/EBITDA | 14.75 |
| Price/Free Cashflow | 19.65 |
| MarketCap/EBT | 17.41 |
| Enterprise Value | 12.28 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 17.8% |
| Price Change 1M | -4.1% |
| Price Change 6M | -24.4% |
| Price Change 1Y | -32.3% |
| 3Y Cumulative Return | 18.4% |
| 5Y Cumulative Return | 62.6% |
| 7Y Cumulative Return | 40.7% |
Cash Flow & Liquidity |
|---|
| Revenue (TTM) |
| 2.74 kCr |
| Rev. Growth (Yr) | 45.7% |
| Earnings (TTM) | 639.81 Cr |
| Earnings Growth (Yr) | 27.4% |
Profitability | |
|---|---|
| Operating Margin | 26% |
| EBT Margin | 26% |
| Return on Equity | 26.23% |
| Return on Assets | 19.16% |
| Free Cashflow Yield | 5.09% |
| 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 | 321.93 Cr |
| Free Cash Flow (TTM) | 667.62 Cr |
| Free Cash Flow/Share (TTM) | 16.21 |
Balance Sheet | |
|---|---|
| Total Assets | 3.34 kCr |
| Total Liabilities | 899.52 Cr |
| Shareholder Equity | 2.44 kCr |
| Current Assets | 1.77 kCr |
| Current Liabilities | 569.43 Cr |
| Net PPE | 332.08 Cr |
| Inventory | 96.46 L |
| Goodwill | 1.12 kCr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.07 |
| Debt/Equity | 0.1 |
| Interest Coverage | 20.79 |
| Interest/Cashflow Ops | 26.69 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 1 |
| Dividend Yield | 0.33% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.20% |
Profitability: Very strong Profitability. One year profit margin are 23%.
Growth: Awesome revenue growth! Revenue grew 41.2% over last year and 142.9% in last three years on TTM basis.
Technicals: Bullish SharesGuru indicator.
Balance Sheet: Strong Balance Sheet.
Past Returns: In past three years, the stock has provided 18.4% return compared to 13% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Smart Money: Smart money looks to be reducing their stake in the stock.
Profitability: Very strong Profitability. One year profit margin are 23%.
Growth: Awesome revenue growth! Revenue grew 41.2% over last year and 142.9% in last three years on TTM basis.
Technicals: Bullish SharesGuru indicator.
Balance Sheet: Strong Balance Sheet.
Past Returns: In past three years, the stock has provided 18.4% return compared to 13% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Smart Money: Smart money looks to be reducing their stake in the stock.
Investor Care | |
|---|---|
| Dividend Yield | 0.33% |
| Dividend/Share (TTM) | 1 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 14.62 |
Financial Health | |
|---|---|
| Current Ratio | 3.1 |
| Debt/Equity | 0.1 |
Technical Indicators | |
|---|---|
| RSI (14d) | 46.89 |
| RSI (5d) | 93.73 |
| RSI (21d) | 45.2 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
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.
In the earnings call held on November 12, 2025, BLS International Services Limited provided a positive outlook on its operational and financial performance. The management highlighted a consolidated revenue increase of 49% year-on-year in Q2 FY'26, reaching INR 737 crores, driven by a steady rise in application volumes and strategic acquisitions. EBITDA grew by 30% to INR 213 crores, with margins stabilizing at approximately 29%. Profit after tax for the quarter increased by 27% to INR 186 crores.
Key forward-looking highlights included a three-year mandate from the Ministry of External Affairs (MEA) to operate India Visa application centers in key Chinese cities, anticipating increased visa volumes due to improving India-China relations. Visa application volumes rose by 12% to 11.3 lakh compared to 10.1 lakh in Q2 FY'25, while net revenue per application improved by 12% to INR 3,223.
Additionally, the company secured a significant contract valued at INR 2,000 crores from the Unique Identification Authority of India to establish Aadhaar Seva Kendras, reinforcing its role in digital service provision nationwide over a six-year term. The digital services segment witnessed exceptional growth of 259% year-on-year, with revenue reaching INR 278 crores, attributed to the consolidation of Aadifidelis Solutions.
Management also expressed a commitment to sustain EBITDA margins as the digital services division expands, and they aim to maintain a balanced revenue growth mix between visa and digital service segments. Overall, BLS envisions continued operational momentum with substantial growth opportunities ahead across its business lines.
Understand BLS International Services ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| 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 |
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) | 5.43 kCr | 8.77 kCr | -19.70% | -19.70% | 21.96 | 0.62 | - | - |
| SIS | SIS | 4.74 kCr |
Comprehensive comparison against sector averages
BLS metrics compared to Leisure
| Category | BLS | Leisure |
|---|---|---|
| PE | 20.53 | 50.78 |
| PS | 4.52 | 4.41 |
| Growth | 41.2 % | 13.1 % |
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.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
BLS vs Leisure (2021 - 2026)
Question: "What is the vision for the EBITDA of the digital service business over the next few quarters?" Answer: "Our EBITDA margin has dropped largely due to the integration of Aadifidelis, which has a lower margin. Currently, we aim to stabilize our margin, but overall, our profitability has improved. We hope to maintain our EBITDA margins while growing revenue and enhancing service offerings in the future."
Question: "Could you clarify the reason behind the hotel acquisition?" Answer: "Our goal is to remain asset-light while meeting customer demands for travel services. This acquisition helps us learn to manage these services without large investments. It allows us to understand the market and generate returns without heavy assets affecting margins."
Question: "What was the contribution of Citizenship and Aadifidelis to Q2 revenue?" Answer: "These two businesses contributed around INR 200 crores, which is about 20-25% of our total top line. Excluding these, revenue would be approximately INR 536 crores."
Question: "What is the status of the MEA ban, and what caused it?" Answer: "The MEA issued a temporary ban due to customer complaints regarding service levels. We are working to resolve these issues swiftly and still operate under existing contracts, so there will be no significant impact on our financials."
Question: "Regarding organic growth in the Visa segment, why is revenue growth slower compared to application volume?" Answer: "Our revenue growth has matched application volume increases, while cost optimization has improved profitability. We expect volume growth to continue influencing our revenue, but the organic revenue growth has remained steady due to diversified offerings."
Question: "What's the anticipated revenue guidance for the Aadhaar project over six years?" Answer: "The contract is valued at roughly INR 2,000 crores over six years, and we expect to establish 250-300 centers starting December. Full revenue will ramp up as volumes increase, with an estimate of around INR 350 crores annually once fully operational."
Question: "What measures will prevent future bans from governments?" Answer: "We actively engage with governments and monitor SLAs closely. We are committed to fulfilling contractual obligations to avoid such issues. Our focus remains on building strong relationships with both Indian and international government clients."
Question: "Can we discuss the cash held overseas and any plans to repatriate it?" Answer: "We hold approximately INR 350 crores in Indian books and around INR 1,000 crores abroad. We rely on overseas cash for investments and will repatriate as necessary and when strategic decisions warrant it, focusing on maximizing shareholder value through dividends."
Question: "How do you foresee the revenue mix evolving between Visa and Digital Services?" Answer: "We're aiming for a 70-30 split over time, with digital services growth aligned with strategic acquisitions. We anticipate both segments will grow, but Visa will likely maintain a stronger revenue contribution due to higher margins."
Question: "What is your vision for the next 3-5 years in terms of business growth?" Answer: "We aim to maintain a healthy balance of Visa and digital service revenues while exploring growth opportunities via acquisitions, ultimately striving toward an efficient, asset-light model focused on sustainable profitability and expansion."
| 4.86% |
| Wonder Rock Finance And Investment Private Limited | 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 | 2.53% |
| Sushil Aggarwal | 2.43% |
| Alka Agagrwal | 1.94% |
| Shikhar Aggarwal | 1.92% |
| JLB Finvest Private Limited | 0.38% |
| Trimurti Finvest Private Limited | 0.38% |
| Riya Sarda | 0.12% |
Distribution across major stakeholders
Distribution across major institutional holders
| 14.97 kCr |
| +3.80% |
| +5.00% |
| -25.63 |
| 0.32 |
| - |
| - |
| QUESS | Quess Corp | 3.1 kCr | 15.09 kCr | +0.20% | -66.10% | 50.13 | 0.21 | - | - |
| TEAMLEASE | TeamLease Services | 2.42 kCr | 11.85 kCr | -9.50% | -38.30% | 18.53 | 0.2 | - | - |
| EASEMYTRIP | Easy Trip Planners | 2.41 kCr | 543.24 Cr | -8.90% | -48.70% | 15.07 | 4.44 | - | - |
| 1.5% |
| 203 |
| 200 |
| 167 |
| 140 |
| 164 |
| 135 |
| Total profit before tax | 1.5% | 203 | 200 | 167 | 140 | 164 | 135 |
| Current tax | -17.6% | 15 | 18 | 24 | 15 | 20 | 14 |
| Deferred tax | 94% | 2.3 | 1.67 | -2.22 | -2.81 | -1.4 | -0.13 |
| Total tax | -11.1% | 17 | 19 | 21 | 12 | 18 | 14 |
| Total profit (loss) for period | 2.8% | 186 | 181 | 145 | 128 | 146 | 121 |
| Other comp. income net of taxes | 66.7% | 51 | 31 | 5.42 | 35 | -18.74 | -1 |
| Total Comprehensive Income | 11.8% | 237 | 212 | 151 | 162 | 127 | 120 |
| Earnings Per Share, Basic | 3.5% | 4.26 | 4.15 | 3.28 | 2.93 | 3.36 | 2.77 |
| Earnings Per Share, Diluted | 3.2% | 4.25 | 4.15 | 3.28 | 2.93 | 3.36 | 2.77 |
| 3.83 |
| 1.48 |
| 0.1 |
| 0.09 |
| 0.14 |
| 0.59 |
| Depreciation and Amortization | 125.6% | 13 | 6.32 | 2.61 | 1.89 | 1.91 | 1.91 |
| Other expenses | 3.4% | 31 | 30 | 27 | 20 | 13 | 18 |
| Total Expenses | 42.5% | 162 | 114 | 77 | 40 | 26 | 44 |
| Profit Before exceptional items and Tax | -43.6% | 23 | 40 | 47 | 17 | 24 | 30 |
| Total profit before tax | -43.6% | 23 | 40 | 47 | 17 | 24 | 30 |
| Current tax | -42.7% | 2.46 | 3.55 | 5.51 | 1.35 | 3.07 | 6.41 |
| Deferred tax | -72.4% | -1.31 | -0.34 | -0.15 | -0.05 | -0.09 | 0.05 |
| Total tax | -93.2% | 1.15 | 3.2 | 5.36 | 1.3 | 2.98 | 6.46 |
| Total profit (loss) for period | -41.7% | 22 | 37 | 41 | 16 | 21 | 23 |
| Other comp. income net of taxes | -17.1% | -0.23 | -0.05 | 0.04 | 0.03 | 0.98 | 0.15 |
| Total Comprehensive Income | -41.7% | 22 | 37 | 41 | 16 | 22 | 23 |
| Earnings Per Share, Basic | -370% | 0.53 | 0.9 | 1 | 0.3925 | 0.5075 | 0.5625 |
| Earnings Per Share, Diluted | -370% | 0.53 | 0.9 | 1 | 0.3925 | 0.5075 | 0.5625 |
| 0 |
| 0 |
| 33 |
| 0 |
| 33 |
| 0 |
| Loans, non-current | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total non-current financial assets | -9.1% | 11 | 12 | 47 | 3.75 | 37 | 1.81 |
| Total non-current assets | -2.9% | 134 | 138 | 97 | 71 | 65 | 47 |
| Total assets | -1.4% | 216 | 219 | 163 | 129 | 135 | 96 |
| Total non-current financial liabilities | - | 0 | 0 | 30 | 0 | 0 | 0 |
| Provisions, non-current | 41% | 2.89 | 2.34 | 1.47 | 1.28 | 1.16 | 0.99 |
| Total non-current liabilities | -7.7% | 61 | 66 | 31 | 18 | 6.58 | 1.48 |
| Total current financial liabilities | 3.2% | 33 | 32 | 28 | 12 | 18 | 6.96 |
| Provisions, current | 21.6% | 0.6 | 0.49 | 0.36 | 0.31 | 0.19 | 0.16 |
| Total current liabilities | 71.7% | 80 | 47 | 34 | 22 | 41 | 17 |
| Total liabilities | 25% | 141 | 113 | 66 | 40 | 48 | 18 |
| Equity share capital | 0% | 41 | 41 | 41 | 41 | 41 | 41 |
| Total equity | -30.2% | 75 | 107 | 97 | 89 | 88 | 78 |
| Total equity and liabilities | -1.4% | 216 | 219 | 163 | 129 | 135 | 96 |
| 0 |
| -33.11 |
| 0 |
| 0 |
| - |
| - |
| Interest paid | - | 0 | 0 | 0 | -0.09 | - | - |
| Interest received | -9.1% | -2 | -1.75 | 0 | 0 | - | - |
| Income taxes paid (refund) | 124.2% | 3.13 | 1.95 | 5.41 | 2.1 | - | - |
| Other inflows (outflows) of cash | 151.9% | 11 | 4.97 | 0.04 | 0 | - | - |
| Net Cashflows From Operating Activities | 2004.8% | 25 | -0.26 | -6.44 | -0.41 | - | - |
| Cashflows used in obtaining control of subsidiaries | - | 0.8 | 0 | 25 | 0 | - | - |
| Purchase of property, plant and equipment | 4.6% | 9.96 | 9.57 | 6.61 | 0.65 | - | - |
| Proceeds from sales of investment property | - | 0 | 0 | 0.38 | 0 | - | - |
| Purchase of intangible assets | - | 0 | 0 | 0.13 | 0.02 | - | - |
| Proceeds from sales of long-term assets | - | 0 | 0 | 37 | 0 | - | - |
| Purchase of other long-term assets | - | 4.34 | 0 | 0 | 0 | - | - |
| Dividends received | 34.4% | 44 | 33 | 26 | 13 | - | - |
| Interest received | -64% | 1.27 | 1.75 | 3.33 | 7.75 | - | - |
| Other inflows (outflows) of cash | -272.7% | -0.33 | 1.77 | 0 | 19 | - | - |
| Net Cashflows From Investing Activities | 16% | 30 | 26 | 35 | 19 | - | - |
| Proceeds from issuing shares | -154.1% | 0 | 2.85 | 3.09 | 0 | - | - |
| Payments of lease liabilities | 244.6% | 8.96 | 3.31 | 0.87 | -0.72 | - | - |
| Dividends paid | -33.3% | 21 | 31 | 26 | -12.78 | - | - |
| Interest paid | -1% | 0 | 0.01 | 0 | -0.39 | - | - |
| Net Cashflows from Financing Activities | 5.6% | -29.55 | -31.35 | -23.46 | 14 | - | - |
| Net change in cash and cash eq. | 484% | 25 | -5.25 | 4.96 | 32 | - | - |
Analysis of BLS International Services's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2025
| Description | Share | Value |
|---|---|---|
| Visa and consular services | 61.0% | 449.3 Cr |
| Digital services | 39.0% | 287.2 Cr |
| Total | 736.5 Cr |