BLS E-Services Limited (BLSE) AI Stock Analysis

• Market Cap: ₹14.87B
• Dividend Yield: 0.49%
• Average Volume (3M): 22.84K
• Price to Earnings (P/E): 36.5
• Beta (1Y): 1.34
• Revenue Growth: 195.68%
• EPS Growth: 11.88%
• Country: IN
• Employees: 850
• Sector: Technology
• Sector Strength: 88
• Industry: Specialty Business Services
• EPS (TTM): 1.39
• Shares Outstanding: 90,856,480
• 10 Day Avg. Volume: 24,037
• 30 Day Avg. Volume: 22,844
• PEG Ratio: 0.85
• Price to Book (P/B): 2.82
• Price to Sales (P/S): 2.62
• P/FCF Ratio: 17.44
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: ₹182.00 ▼(-6.19% Downside)
• Action: Reiterated Date: 03/25/26
• Date: Action: Reiterated 03/25/26

The score is driven primarily by strong financial performance (growth, profitability, low leverage, and solid cash generation). Offsetting this, technical signals are mixed with negative MACD and the stock still below long-term moving averages, and valuation appears demanding with a high P/E and modest dividend yield.

Positive Factors

High revenue and margin profile

Revenue has expanded markedly and profit margins (gross, EBIT, EBITDA, net) remain robust, indicating scalable service economics. Durable margin strength supports cash generation and reinvestment capacity, reinforcing competitive position in assisted digital services over the medium term.

Negative Factors

Revenue-to-EPS conversion gap

Very strong top-line growth has not translated proportionally into EPS growth, suggesting dilution, higher operating leverage on newer volumes, or non-recurring items affecting per-share earnings. If persistent, this weakens shareholder returns despite revenue momentum.

BLS E-Services Limited Business Overview & Revenue Model

Company Description

BLS E-Services Ltd., a technology enabled digital service provider, offers assisted E-services and E-governance services in India. It operates a network of access points that offer essential public utility, social welfare scheme related, healthcar...

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BLS E-Services Ltd., a technology enabled digital service provider, offers assisted E-services and E-governance services in India. It operates a network of access points that offer essential public utility, social welfare scheme related, healthcar...

How the Company Makes Money

BLSE primarily generates revenue by enabling transactions and service fulfilment through its digital platform and distributed network of agents/retail touchpoints. Key revenue streams typically include (i) service/processing fees or commissions ea...

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BLSE primarily generates revenue by enabling transactions and service fulfilment through its digital platform and distributed network of agents/retail touchpoints. Key revenue streams typically include (i) service/processing fees or commissions ea...

BLS E-Services Limited Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	8.81B	5.19B	3.01B	2.43B	966.98M	644.87M
Gross Profit	917.58M	747.12M	665.86M	581.63M	270.52M	186.50M
EBITDA	978.23M	861.12M	500.03M	337.55M	86.56M	54.95M
Net Income	563.70M	525.63M	313.99M	188.80M	53.80M	31.48M
Balance Sheet
Total Assets	7.17B	6.72B	5.10B	1.79B	559.29M	405.87M
Cash, Cash Equivalents and Short-Term Investments	3.76B	2.01B	2.65B	457.00M	154.79M	97.31M
Total Debt	74.31M	71.29M	73.08M	51.83M	152.18M	110.16M
Total Liabilities	1.71B	1.54B	719.05M	680.14M	408.62M	309.08M
Stockholders Equity	5.05B	4.83B	4.31B	1.07B	150.67M	96.79M
Cash Flow
Free Cash Flow	90.90M	779.80M	150.09M	279.86M	124.88M	85.64M
Operating Cash Flow	101.95M	910.80M	196.51M	288.73M	197.43M	86.41M
Investing Cash Flow	-158.71M	-465.21M	-2.95B	-656.32M	-136.21M	-5.72M
Financing Cash Flow	-113.72M	-42.17M	2.90B	464.16M	-75.72M	-48.09M

BLS E-Services Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 194.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BLSE, the sentiment is Positive. The current price of 194 is above the 20-day moving average (MA) of 144.24, above the 50-day MA of 157.25, and above the 200-day MA of 183.66, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 57.49 is Neutral, neither overbought nor oversold. The STOCH value of 76.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BLSE.

BLS E-Services Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BLSE	74 Outperform	₹14.87B	36.46	―	0.49%	195.68%	11.88%
RADIANTCMS	69 Neutral	₹4.05B	12.62	―	4.81%	4.57%	-10.62%
CMSINFO	64 Neutral	₹46.39B	24.32	―	2.71%	0.13%	-3.14%
ONEPOINT	63 Neutral	₹11.58B	41.36	―	―	25.17%	9.55%
UDS	63 Neutral	₹9.14B	35.45	―	―	8.98%	13.54%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%