BLS International Services Ltd
BLS International Services Limited (BLS), a part of the four-decades-old BLS Group with a global presence and diversified range of services, and is the biggest global players in visa application outsourcing.[1]
- Market Cap ₹ 14,022 Cr.
- Current Price ₹ 341
- High / Low ₹ 430 / 212
- Stock P/E 379
- Book Value ₹ 2.17
- Dividend Yield 0.22 %
- ROCE 49.0 %
- ROE 44.2 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 22.8% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 41.7%
- Company has been maintaining a healthy dividend payout of 88.5%
- Company's median sales growth is 36.6% of last 10 years
Cons
- Stock is trading at 157 times its book value
- Tax rate seems low
- Earnings include an other income of Rs.35.5 Cr.
- Debtor days have increased from 29.7 to 56.2 days.
- Promoter holding has decreased over last 3 years: -3.07%
* 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 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
7 | 10 | 14 | 16 | 24 | 41 | 52 | 53 | 20 | 40 | 87 | 119 | |
6 | 8 | 10 | 13 | 19 | 31 | 39 | 40 | 24 | 38 | 74 | 106 | |
Operating Profit | 1 | 2 | 4 | 3 | 5 | 10 | 13 | 13 | -3 | 2 | 13 | 13 |
OPM % | 18% | 20% | 27% | 18% | 22% | 25% | 25% | 24% | -16% | 6% | 14% | 11% |
0 | 0 | 0 | 2 | 2 | 6 | 9 | 20 | 30 | 17 | 37 | 35 | |
Interest | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 0 | 1 | 1 |
Depreciation | 0 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 6 |
Profit before tax | 1 | 1 | 1 | 2 | 4 | 13 | 19 | 30 | 24 | 17 | 47 | 40 |
Tax % | 31% | 33% | 33% | 28% | 29% | 17% | 29% | 22% | 13% | 7% | 12% | 8% |
1 | 1 | 1 | 1 | 3 | 11 | 13 | 23 | 21 | 16 | 41 | 37 | |
EPS in Rs | 0.02 | 0.03 | 0.08 | 0.26 | 0.32 | 0.56 | 0.51 | 0.39 | 1.00 | 0.90 | ||
Dividend Payout % | 0% | 0% | 0% | 0% | 114% | 49% | 77% | 44% | 25% | 79% | 75% | 111% |
Compounded Sales Growth | |
---|---|
10 Years: | 28% |
5 Years: | 18% |
3 Years: | 80% |
TTM: | 37% |
Compounded Profit Growth | |
---|---|
10 Years: | 49% |
5 Years: | 23% |
3 Years: | 22% |
TTM: | 8% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 76% |
3 Years: | 119% |
1 Year: | 58% |
Return on Equity | |
---|---|
10 Years: | 41% |
5 Years: | 44% |
3 Years: | 42% |
Last Year: | 44% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 41 | 41 |
Reserves | 1 | 2 | 3 | 4 | 8 | 15 | 24 | 31 | 45 | 49 | 37 | 48 |
0 | 0 | 7 | 3 | 2 | 5 | 8 | 1 | 1 | 1 | 1 | 2 | |
4 | 2 | 2 | 6 | 7 | 19 | 26 | 24 | 8 | 29 | 17 | 38 | |
Total Liabilities | 16 | 15 | 23 | 23 | 27 | 50 | 68 | 67 | 65 | 89 | 96 | 129 |
3 | 2 | 6 | 4 | 5 | 4 | 4 | 4 | 4 | 4 | 8 | 31 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 2 | 2 | 2 | 2 | 3 | 4 | 5 | 5 | 1 | 1 | 33 | 36 |
11 | 11 | 15 | 17 | 19 | 42 | 59 | 57 | 60 | 84 | 54 | 61 | |
Total Assets | 16 | 15 | 23 | 23 | 27 | 50 | 68 | 67 | 65 | 89 | 96 | 129 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-7 | 0 | 2 | 2 | 1 | 10 | 22 | 1 | -26 | -0 | -6 | -0 | |
8 | 0 | -8 | 1 | 0 | -7 | -21 | 24 | 33 | 19 | 35 | 26 | |
-0 | 0 | 6 | -2 | -2 | -1 | -3 | -23 | -9 | -14 | -23 | -31 | |
Net Cash Flow | 1 | 1 | -0 | 2 | -1 | 3 | -2 | 2 | -3 | 4 | 5 | -5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 7 | 33 | 50 | 26 | 63 | 105 | 27 | 26 | 45 | 18 | 15 | 56 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 7 | 33 | 50 | 26 | 63 | 105 | 27 | 26 | 45 | 18 | 15 | 56 |
Working Capital Days | -79 | -25 | -43 | 63 | 79 | 118 | 130 | 124 | 570 | -133 | 6 | 58 |
ROCE % | 9% | 9% | 13% | 12% | 30% | 55% | 58% | 73% | 49% | 31% | 57% | 49% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
9 Jul - Read with schedule III of SEBI (LODR), Please find enclosed Press Release w.r.t acquisition of 100% stake in idata, turkey based visa and consular service …
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Announcement under Regulation 30 (LODR)-Updates on Acquisition
9 Jul - Compliance with regulation 30 of SEBI (LODR) Regulations,2015, and in continuation to our earlier corporate announcement dated January 15 2024. March 29, 2024, amd july …
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Jul - Confirmation certificate dated 04 July, 2024 for the first quarter ended June 30, 2024, as received from Registrar and Transfer Agent(RTA) of the company i.e. …
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Announcement under Regulation 30 (LODR)-Updates on Acquisition
1 Jul - Intentions of BLS International FZE, a wholly owned subsidiary to acquire iData through BLS FZE and its subsidiaries. The same was expected to be completed …
- Closure of Trading Window 28 Jun
Annual reports
Concalls
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Jun 2021Transcript PPT
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Feb 2021TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
Journey
2005-2010 - Started Visa processing services in niche, untapped market.
2011-2015 - Added seven Indian missions abroad including the prestigious and high volume locations of US and Canada.
2016-17 - Got listed on NSE and BSE and it is the only Indian origin visa outsourcing company in the listed space.
After 2018 - Expanded operations in 11 more cities for attestation services.
It also commenced operations for the Embassy of Vietnam and Lebanon in India.[1]
The group serves 20 Indian diplomatic missions in various geographies.