BLS E-Services Limited (BLSE) AI Stock Analysis

• Market Cap: ₹20.44B
• Dividend Yield: 0.49%
• Average Volume (3M): 22.84K
• Price to Earnings (P/E): 35.6
• Beta (1Y): 1.15
• Revenue Growth: 115.23%
• EPS Growth: 9.35%
• Country: IN
• Employees: 850
• Sector: Technology
• Sector Strength: 88
• Industry: Specialty Business Services
• EPS (TTM): 6.21
• Shares Outstanding: 90,856,480
• 10 Day Avg. Volume: 24,037
• 30 Day Avg. Volume: 22,844
• PEG Ratio: 2.71
• Price to Book (P/B): 2.78
• Price to Sales (P/S): 1.30
• P/FCF Ratio: 31.30
• 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: 71 Outperform
• Price Target: ₹230.00 ▲(18.56% Upside)
• Action: Reiterated
• Date: 05/22/26

Positive Factors

Strong revenue growth

Sustained ~27% top-line growth into 2026 reflects expanding adoption of BLSE's assisted e‑governance services and platform reach. Persistent revenue expansion supports scale economies, funds reinvestment in channels and tech, and underpins long‑term market position and growth optionality.

Negative Factors

Margin compression

A roughly halved net margin signals weakening profitability per revenue dollar, which erodes free cash flow and return metrics unless reversed. If driven by structural pricing pressure, rising costs, or adverse mix shifts, this could materially limit reinvestment capacity and long‑term earnings power.

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 makes money by charging fees for enabling and processing services delivered through its assisted-service network and technology platform. Key revenue streams typically include: (1) service/transaction fees earned per application or ...

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BLSE primarily makes money by charging fees for enabling and processing services delivered through its assisted-service network and technology platform. Key revenue streams typically include: (1) service/transaction fees earned per application or ...

BLS E-Services Limited Financial Statement Overview

Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	8.81B	11.18B	5.19B	3.01B	2.43B	966.98M
Gross Profit	917.58M	1.31B	747.12M	665.86M	581.63M	270.52M
EBITDA	978.23M	1.18B	861.12M	500.03M	337.55M	86.56M
Net Income	563.70M	574.96M	525.63M	313.99M	188.80M	53.80M
Balance Sheet
Total Assets	7.17B	7.62B	6.72B	5.10B	1.79B	559.29M
Cash, Cash Equivalents and Short-Term Investments	3.76B	3.88B	2.01B	2.65B	457.00M	154.79M
Total Debt	74.31M	61.32M	71.29M	73.08M	51.83M	152.18M
Total Liabilities	1.71B	1.92B	1.54B	719.05M	680.14M	408.62M
Stockholders Equity	5.05B	5.22B	4.83B	4.31B	1.07B	150.67M
Cash Flow
Free Cash Flow	90.90M	464.50M	779.80M	150.09M	279.86M	124.88M
Operating Cash Flow	101.95M	552.65M	910.80M	196.51M	288.73M	197.43M
Investing Cash Flow	-158.71M	-144.39M	-465.21M	-2.95B	-656.32M	-136.21M
Financing Cash Flow	-113.72M	-235.73M	-42.17M	2.90B	464.16M	-75.72M

BLS E-Services Limited Technical Analysis

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

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 below the 20-day moving average (MA) of 206.26, above the 50-day MA of 183.99, and above the 200-day MA of 183.14, indicating a bullish trend. The MACD of 11.33 indicates Negative momentum. The RSI at 78.56 is Negative, neither overbought nor oversold. The STOCH value of 91.34 is Negative, 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
UDS	76 Outperform	₹12.14B	14.30	―	―	7.44%	-27.87%
BLSE	71 Outperform	₹20.44B	35.63	―	0.49%	115.23%	9.35%
CMSINFO	67 Neutral	₹50.25B	16.53	―	2.71%	2.58%	-18.98%
ONEPOINT	63 Neutral	₹15.27B	39.97	―	―	22.24%	-1.25%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
RADIANTCMS	57 Neutral	₹4.09B	12.72	―	4.81%	0.55%	-30.67%