BLS International Services Ltd. (IN:BLS)
:BLS
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BLS International Services Ltd.
(BLS)
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Rating:71Outperform
Price Target:
₹297.00
▼(-5.10% 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
Consistently strong operating cash flow and high free cash flow coverage mean BLS can fund operations, invest in centers, and service obligations without relying on capital markets. Durable cash conversion supports reinvestment, dividend capacity, and debt repayment over the medium term.
Negative Factors
Rising leverage trend
An uptick in debt after years of conservatism reduces financial flexibility and increases interest and refinancing risk. If cash-conversion or client volumes weaken, the higher leverage limits the company's ability to absorb shocks or fund opportunistic expansions without costly capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistently strong operating cash flow and high free cash flow coverage mean BLS can fund operations, invest in centers, and service obligations without relying on capital markets. Durable cash conversion supports reinvestment, dividend capacity, and debt repayment over the medium term.
Read all positive factors
BLS International Services Ltd. (BLS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹108.76B
Dividend Yield0.31%
Average Volume (3M)518.27K
Price to Earnings (P/E)15.9
Beta (1Y)1.47
Revenue Growth36.70%
EPS Growth35.14%
CountryIN
Employees357
SectorServices
Sector StrengthN/A
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)14.62
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 | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.53B | 29.98B | 21.93B | 16.77B | 15.16B | 8.50B |
| Gross Profit | 11.39B | 10.57B | 8.75B | 5.01B | 3.46B | 1.98B |
| EBITDA | 7.35B | 9.14B | 5.89B | 3.42B | 2.25B | 1.07B |
| Net Income | 6.02B | 6.87B | 5.08B | 3.13B | 2.01B | 1.11B |
Balance Sheet | ||||||
| Total Assets | 33.39B | 37.70B | 28.06B | 16.16B | 9.45B | 6.33B |
| Cash, Cash Equivalents and Short-Term Investments | 15.70B | 15.13B | 9.04B | 9.72B | 4.39B | 3.06B |
| Total Debt | 4.04B | 4.31B | 3.59B | 305.96M | 65.31M | 111.58M |
| Total Liabilities | 9.00B | 9.86B | 7.87B | 1.75B | 1.08B | 635.06M |
| Stockholders Equity | 21.30B | 24.63B | 17.31B | 12.08B | 8.03B | 5.70B |
Cash Flow | ||||||
| Free Cash Flow | 4.75B | 8.07B | 6.68B | 2.86B | 1.92B | 1.03B |
| Operating Cash Flow | 5.15B | 9.44B | 8.29B | 3.50B | 2.61B | 1.85B |
| Investing Cash Flow | -3.85B | -4.92B | -11.19B | -2.60B | -2.38B | -1.72B |
| Financing Cash Flow | -909.46M | -2.40B | 1.58B | 2.57B | 72.31M | -120.50M |
BLS International Services Ltd. Technical Analysis
Neutral
312.95
Price Trends
273.95
Negative
270.51
Negative
299.70
Negative
Market Momentum
-2.94
Negative
48.83
Neutral
55.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BLS, the sentiment is Neutral. The current price of 312.95 is above the 20-day moving average (MA) of 263.78, above the 50-day MA of 273.95, and above the 200-day MA of 299.70, indicating a neutral trend. The MACD of -2.94 indicates Negative momentum. The RSI at 48.83 is Neutral, neither overbought nor oversold. The STOCH value of 55.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | ₹12.13B | 14.06 | ― | ― | 7.44% | -27.87% | |
71 Outperform | ₹108.76B | 15.86 | ― | 0.31% | 36.70% | 35.14% | |
67 Neutral | ₹48.72B | 15.98 | ― | 2.71% | 2.58% | -18.98% | |
63 Neutral | ₹15.80B | 41.37 | ― | ― | 22.24% | -1.25% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
52 Neutral | ₹19.99B | 61.30 | ― | 1.51% | -2.20% | -72.57% |
* Services Sector Average
IN:BLS
BLS International Services Ltd.
264.75
-94.18
-26.24%
IN:CMSINFO
CMS Info Systems Ltd.
295.00
-178.14
-37.65%
IN:HGS
Hinduja Global Solutions Limited
424.75
-114.85
-21.28%
IN:ONEPOINT
One Point One Solutions Ltd.
60.03
7.32
13.89%
IN:SECURCRED
SecUR Credentials Ltd.
1.63
0.00
0.00%
IN:UDS
Updater Services Limited
179.90
-114.30
-38.85%
BLS International Services Ltd. Corporate Events
BLS International Shareholders Clear Director Commission, Register Relocation Resolutions
Mar 21, 2026
BLS International Services Ltd. has secured shareholder approval via a postal ballot for two corporate governance-related resolutions, following a remote e-voting process that concluded on March 20, 2026. Investors endorsed the payment of commissi...
BLS International Shareholders Clear Postal Ballot Resolutions on Director Pay and Records Location
Mar 21, 2026
BLS International Services Ltd. has announced the results of a recent postal ballot conducted exclusively through remote e-voting to seek shareholder approval on key corporate governance matters. Shareholders approved a resolution authorizing the ...
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.