BLS International Services Ltd. (IN:BLS)
:BLS
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BLS International Services Ltd.
(BLS)
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Rating:67Neutral
Price Target:
₹240.00
▼(-23.31% Downside)
Action:DowngradedDate:03/24/26
The score is primarily supported by strong financial performance (high growth, solid margins, low leverage, and strong cash generation). This is meaningfully offset by weak technicals, with the stock trading below major moving averages and bearish momentum indicators. Valuation is moderate with a modest dividend yield.
Positive Factors
Strong Revenue Growth
Sustained ~30.8% revenue growth demonstrates durable demand for BLS's processing and G2C services and reflects successful contract wins and scale. Over 2–6 months this underpins cash flow, supports reinvestment and strengthens competitive positioning in outsourced citizen services.
Negative Factors
High Investing Outflows
Significant investing outflows can strain liquidity and require disciplined capital allocation; even with strong operational cash generation, persistent high investment spend risks diverting cash from returns or dividends and heightens execution risk if projects underperform.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Sustained ~30.8% revenue growth demonstrates durable demand for BLS's processing and G2C services and reflects successful contract wins and scale. Over 2–6 months this underpins cash flow, supports reinvestment and strengthens competitive positioning in outsourced citizen services.
Read all positive factors
BLS International Services Ltd. (BLS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹102.98B
Dividend Yield0.31%
Average Volume (3M)518.27K
Price to Earnings (P/E)20.3
Beta (1Y)1.40
Revenue Growth41.61%
EPS Growth44.11%
CountryIN
Employees357
SectorServices
Sector StrengthN/A
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)3.98
Shares Outstanding411,740,900
10 Day Avg. Volume1,401,115
30 Day Avg. Volume518,274
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)9.35
Price to Sales (P/S)7.38
P/FCF Ratio24.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹389.00Price Target Upside24.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)16.95
Revenue Forecast (FY)₹28.62B
BLS International Services Ltd. Business Overview & Revenue Model
Company Description
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 services, e-visa, bio metric and identity management;...
How the Company Makes Money
BLS makes money mainly by delivering contracted processing and facilitation services for government and quasi-government clients (e.g., diplomatic missions/consulates and public agencies). Its core revenue model is transaction- and contract-driven...
BLS International Services Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.53B | 21.93B | 16.77B | 15.16B | 8.50B | 4.84B |
| Gross Profit | 11.39B | 8.75B | 5.01B | 3.46B | 1.98B | 1.03B |
| EBITDA | 7.35B | 5.89B | 3.42B | 2.25B | 1.07B | 446.98M |
| Net Income | 6.02B | 5.08B | 3.13B | 2.01B | 1.11B | 501.54M |
Balance Sheet | ||||||
| Total Assets | 33.39B | 28.06B | 16.16B | 9.45B | 6.33B | 4.98B |
| Cash, Cash Equivalents and Short-Term Investments | 15.70B | 9.04B | 9.72B | 4.39B | 3.06B | 2.67B |
| Total Debt | 4.04B | 3.59B | 305.96M | 65.31M | 111.58M | 7.33M |
| Total Liabilities | 9.00B | 7.87B | 1.75B | 1.08B | 635.06M | 381.84M |
| Stockholders Equity | 21.30B | 17.31B | 12.08B | 8.03B | 5.70B | 4.60B |
Cash Flow | ||||||
| Free Cash Flow | 4.75B | 6.68B | 2.86B | 1.92B | 1.03B | 401.94M |
| Operating Cash Flow | 5.15B | 8.29B | 3.50B | 2.61B | 1.85B | 450.07M |
| Investing Cash Flow | -3.85B | -11.19B | -2.60B | -2.38B | -1.72B | -223.80M |
| Financing Cash Flow | -909.46M | 1.58B | 2.57B | 72.31M | -120.50M | -94.78M |
BLS International Services Ltd. Technical Analysis
Negative
312.95
Price Trends
269.23
Negative
293.13
Negative
325.43
Negative
Market Momentum
-7.15
Negative
46.61
Neutral
74.49
Neutral
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 252.64, above the 50-day MA of 269.23, and below the 200-day MA of 325.43, indicating a bearish trend. The MACD of -7.15 indicates Negative momentum. The RSI at 46.61 is Neutral, neither overbought nor oversold. The STOCH value of 74.49 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹44.58B | 24.32 | ― | 2.71% | 0.13% | -3.14% | |
67 Neutral | ₹102.98B | 20.31 | ― | 0.31% | 41.61% | 44.11% | |
63 Neutral | ₹11.16B | 41.36 | ― | ― | 25.17% | 9.55% | |
63 Neutral | ₹8.90B | 35.45 | ― | ― | 8.98% | 13.54% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
55 Neutral | ₹16.53B | 12.17 | ― | 1.51% | -2.43% | -100.43% |
* Services Sector Average
IN:BLS
BLS International Services Ltd.
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IN:CMSINFO
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355.25
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IN:ONEPOINT
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42.43
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IN:SECURCRED
SecUR Credentials Ltd.
1.63
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-9.44%
IN:UDS
Updater Services Limited
133.00
-159.60
-54.55%
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 ...
BLS International Declares 200% First Interim Dividend, Sets Record Date for February 13, 2026
Feb 6, 2026
BLS International Services Limited’s board has declared a first interim dividend for the financial year 2025-26 at 200% of the face value, amounting to Rs 2 per equity share with a face value of Rs 1 each, on 41,17,40,908 equity shares. 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.