BLS E-Services Limited (IN:BLSE)
:BLSE
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BLS E-Services Limited
(BLSE)
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Rating:80Outperform
Price Target:
₹228.00
▲(17.53% Upside)
Action:ReiteratedDate:05/01/26
The score is driven primarily by strong financial performance and a bullish technical setup (price above key moving averages with positive MACD and healthy RSI). The main offset is valuation, with a relatively high P/E and a low dividend yield.
Positive Factors
Strong Revenue Growth
BLS has recorded exceptionally high revenue growth (192% measure in the data), reflecting rapid expansion of transaction volume and service adoption. This sustained top-line momentum supports medium-term scaling of its fees-and-commissions model and improves visibility into multi-quarter revenue trajectories.
Negative Factors
Opaque Revenue Contract Terms
Revenue relies on fees, commissions and revenue-share arrangements with principals, but detailed contract terms and partner concentration are not disclosed. That opacity raises medium-term revenue visibility and renewal/negotiation risk with government or principal partners.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
BLS has recorded exceptionally high revenue growth (192% measure in the data), reflecting rapid expansion of transaction volume and service adoption. This sustained top-line momentum supports medium-term scaling of its fees-and-commissions model and improves visibility into multi-quarter revenue trajectories.
Read all positive factors
BLS E-Services Limited (BLSE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹17.98B
Dividend Yield0.49%
Average Volume (3M)22.84K
Price to Earnings (P/E)36.5
Beta (1Y)1.20
Revenue Growth192.15%
EPS Growth6.31%
CountryIN
Employees850
SectorTechnology
Sector Strength88
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)6.21
Shares Outstanding90,856,480
10 Day Avg. Volume24,037
30 Day Avg. Volume22,844
Financial Highlights & Ratios
PEG Ratio0.85
Price to Book (P/B)2.82
Price to Sales (P/S)2.62
P/FCF Ratio17.44
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)N/A
Revenue Forecast (FY)N/A
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...
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 ...
BLS E-Services Limited Financial Statement Overview
Summary
Income Statement
92
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
85
Very Positive
| 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
Positive
194.00
Price Trends
156.36
Positive
177.40
Negative
181.63
Negative
Market Momentum
4.85
Negative
65.97
Neutral
86.07
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 above the 20-day moving average (MA) of 158.66, above the 50-day MA of 156.36, and above the 200-day MA of 181.63, indicating a neutral trend. The MACD of 4.85 indicates Negative momentum. The RSI at 65.97 is Neutral, neither overbought nor oversold. The STOCH value of 86.07 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹17.98B | 36.46 | ― | 0.49% | 192.15% | 6.31% | |
69 Neutral | ₹4.48B | 12.62 | ― | 4.81% | 2.68% | -18.91% | |
64 Neutral | ₹47.88B | 24.32 | ― | 2.71% | 1.68% | -13.33% | |
63 Neutral | ₹14.14B | 41.36 | ― | ― | 17.61% | 7.15% | |
63 Neutral | ₹10.64B | 35.45 | ― | ― | 9.29% | -16.45% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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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.