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BLS International Services Ltd.
(BLS)
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Rating:71Outperform
Price Target:
₹262.00
▼(-16.28% Downside)
Action:Upgraded
Date:05/21/26
The score is driven primarily by strong financial performance (high profitability and robust cash generation), tempered by a weaker technical setup (below key moving averages with negative MACD) and only moderate valuation support (P/E ~20 with a modest dividend yield).
Positive Factors
Strong cash generation
Operating cash flow materially exceeds accounting earnings and free cash flow covers a large portion of net income, showing reliable internal funding. This durable cash conversion supports reinvestment in centers, bidding for contracts, and preserves financial flexibility across business cycles.
Negative Factors
Rising leverage versus historical conservatism
The uptick in debt reduces the company's historical balance-sheet conservatism and narrows financial headroom. Even moderate leverage increases interest obligations and limits flexibility for opportunistic investments or to absorb prolonged volume downturns, raising structural funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Operating cash flow materially exceeds accounting earnings and free cash flow covers a large portion of net income, showing reliable internal funding. This durable cash conversion supports reinvestment in centers, bidding for contracts, and preserves financial flexibility across business cycles.
Read all positive factors
BLS International Services Ltd. (BLS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹97.71B
Dividend Yield0.31%
Average Volume (3M)518.27K
Price to Earnings (P/E)14.2
Beta (1Y)1.48
Revenue Growth36.70%
EPS Growth35.14%
CountryIN
Employees357
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)16.68
Shares Outstanding411,740,900
10 Day Avg. Volume1,401,115
30 Day Avg. Volume518,274
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)3.94
Price to Sales (P/S)3.24
P/FCF Ratio12.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)19.7
Revenue Forecast (FY)₹33.44B
BLS International Services Ltd. Business Overview & Revenue Model
Company Description
BLS International Services Limited specializes in providing outsourced administrative and support functions for visa, passport, and consular services to diplomatic missions across the globe. Its extensive service portfolio includes direct citizen ...
How the Company Makes Money
BLS makes money primarily by operating as an outsourced service provider on behalf of client governments/diplomatic missions (and, where applicable, other institutional clients) that need front-end administration for visa/consular/citizen-service ...
BLS International Services Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
88
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 29.98B | 21.93B | 16.77B | 15.16B | 8.50B |
| Gross Profit | 10.57B | 8.75B | 5.01B | 3.46B | 1.98B |
| EBITDA | 9.14B | 5.89B | 3.42B | 2.25B | 1.07B |
| Net Income | 6.87B | 5.08B | 3.13B | 2.01B | 1.11B |
Balance Sheet | |||||
| Total Assets | 37.70B | 28.06B | 16.16B | 9.45B | 6.33B |
| Cash, Cash Equivalents and Short-Term Investments | 15.13B | 9.04B | 9.72B | 4.39B | 3.06B |
| Total Debt | 4.31B | 3.59B | 305.96M | 65.31M | 111.58M |
| Total Liabilities | 9.86B | 7.87B | 1.75B | 1.08B | 635.06M |
| Stockholders Equity | 24.63B | 17.31B | 12.08B | 8.03B | 5.70B |
Cash Flow | |||||
| Free Cash Flow | 8.07B | 6.68B | 2.86B | 1.92B | 1.03B |
| Operating Cash Flow | 9.44B | 8.29B | 3.50B | 2.61B | 1.85B |
| Investing Cash Flow | -4.92B | -11.19B | -2.60B | -2.38B | -1.72B |
| Financing Cash Flow | -2.40B | 1.58B | 2.57B | 72.31M | -120.50M |
BLS International Services Ltd. Technical Analysis
Negative
312.95
Price Trends
263.37
Negative
266.41
Negative
290.27
Negative
Market Momentum
-6.58
Positive
31.94
Neutral
12.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BLS, the sentiment is Negative. The current price of 312.95 is above the 20-day moving average (MA) of 255.45, above the 50-day MA of 263.37, and above the 200-day MA of 290.27, indicating a bearish trend. The MACD of -6.58 indicates Positive momentum. The RSI at 31.94 is Neutral, neither overbought nor oversold. The STOCH value of 12.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BLS.
BLS International Services Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹13.30B | 15.50 | ― | ― | 7.44% | -27.87% | |
71 Outperform | ₹97.71B | 14.22 | ― | 0.31% | 36.70% | 35.14% | |
67 Neutral | ₹42.02B | 14.22 | ― | 2.71% | 2.58% | -18.98% | |
63 Neutral | ₹14.19B | 36.94 | ― | ― | 22.24% | -1.25% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹19.22B | 59.72 | ― | 1.51% | -2.20% | -72.57% |
* General Sector Average
IN:BLS
BLS International Services Ltd.
237.30
-138.76
-36.90%
IN:CMSINFO
CMS Info Systems Ltd.
262.55
-252.13
-48.99%
IN:HGS
Hinduja Global Solutions Limited
413.05
-142.05
-25.59%
IN:ONEPOINT
One Point One Solutions Ltd.
53.96
3.92
7.83%
IN:SECURCRED
SecUR Credentials Ltd.
1.63
0.00
0.00%
IN:UDS
Updater Services Limited
198.70
-82.50
-29.34%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.