On 6 Nov 2026, BLS International Services was priced at ₹223.35, or 12.9× trailing earnings, against an industry P/E of 16.3×, and the shares are 35% below their 52-week high. Sales and net profit grew 26% and 51% a year over 3 years, with ROCE of 26% and ROE of 33%. Debt is 0.15× equity, and its dividend yield is 1.1%. It is a small-cap company with a market cap of ₹9,192 Cr, the largest of 52 Specialty Business Services companies by market cap; the shares fell 30% over the past year.
- ₹224.61
- ₹224.90
- ₹220.90
- ₹226.87
- 6.8 L
Health check
- ReturnsBehind
−29.5% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 12.9 vs industry 16.3.
- GrowthSteady
Sales +25.5%, profit +50.7% a year over 3 years.
- ProfitabilityStrong
ROCE 26.1% vs peer median 16.3%.
- Balance sheetSolid
Debt 0.15× equity, interest covered 35.3×, Piotroski 8 of 9.
- Red flags1 to check
35% below its 52-week high.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹9,192 Cr
- Small cap
- P/E
- 12.9
- Industry 16.3
- Price to book
- 3.73
- Peers 3.44
- Dividend yield
- 1.14%
- ROE
- 32.7%
- Peers 12.9%
- ROCE
- 26.1%
- Peers 16.3%
- Debt to equity
- 0.15
- Debt ₹431 Cr
- EPS (TTM)
- ₹17.38
- Face value ₹1
- OPM (TTM)
- 26.4%
- Net margin 22.2%
- Sales growth
- +32.0%
- Latest quarter vs a year ago
- Profit growth
- +6.3%
- Latest quarter vs a year ago
- Price to sales
- 2.89
- EV/EBITDA 9.3
Strengths and risks
Strengths
- Return on equity of 32.7%.
- Return on capital employed of 26.1%.
- Quarterly sales up 32.0% on a year ago.
- Net margin of 22.2%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- 35% below its 52-week high.
About BLS International Services
BLS International Services Limited provides outsourcing and administrative tasks of visa, passport, and consular services to diplomatic missions in the Middle East, Asia-Pacific, North America, Europe, Africa, South America, China, and India. It operates in two segments, Rendering of Visa and Other Allied Services; and Digital Services. The company offers visa processing, such as end-to-end outsourced visa application intake and processing; appointment…
- Headquarters
- New Delhi
- Employees
- 63,000
- Sector
- Industrials
- ISIN
- INE153T01027
- Website
- blsinternational.com
Price range
- Avg volume (3M)
- 19.2 L
- 1-year return
- minus 29.5%
- From 52-week high
- minus 34.9%
Peers · Specialty Business Services
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BLSBLS International Services | 223.35 | minus 1.55% | 9,192 | 12.9 | 3.73 | 26.1% | 32.7% | 26.4% | 25.5% | 50.7% | 1.14% | minus 29.5% |
| PDSLPDS | 403.90 | plus 0.45% | 5,704 | 48.7 | 3.23 | 16.6% | 6.6% | 2.9% | 6.9% | −25.0% | 0.92% | plus 6.5% |
| FUSIONCXFusion CX | 270.70 | minus 2.70% | 3,908 | 18.1 | 5.52 | 33.0% | 37.0% | 11.9% | 21.0% | 68.1% | 0.00% | minus 6.5% |
| CMSINFOCMS Info Systems | 215.99 | minus 0.62% | 3,457 | 12.2 | 1.46 | 16.2% | 12.9% | 25.0% | 9.1% | 0.7% | 2.31% | minus 40.0% |
| JAYKAYJaykay Enterprises | 201.05 | minus 4.29% | 3,033 | 13.9 | 4.08 | 30.6% | 40.5% | 10.7% | 72.2% | 220.1% | 0.00% | minus 5.0% |
| LORDSMARKLord's Mark Industries | 70.61 | minus 0.51% | 3,012 | 35.1 | 2.85 | 7.0% | 15.5% | 13.2% | 1716.6% | – | 0.00% | minus 88.9% |
| BLSEBLS E-Services | 149.81 | plus 1.81% | 2,719 | 62.2 | 4.90 | 16.3% | 12.6% | 6.7% | 66.3% | 44.9% | 0.33% | plus 45.5% |
| BLUSPRINGBluspring Enterprises | 156.12 | minus 5.96% | 2,334 | 80.9 | 3.44 | 1.0% | −2.3% | 2.5% | – | – | 0.00% | plus 112.4% |
| Median of 7 peers | – | −0.62% | 3,033 | 35.1 | 3.44 | 16.3% | 12.9% | 10.7% | 43.7% | 44.9% | 0.00% | −5.0% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 737 | 736 | 815 | 891 | 973 | |
| 524 | 538 | 611 | 638 | 725 | |
| 213 | 198 | 204 | 252 | 248 | |
| 28.9% | 26.9% | 25.0% | 28.3% | 25.5% | |
| 18.7 | 21 | 30.4 | 22.7 | 22.9 | |
| 6.1 | 5.1 | 5.7 | 7.7 | 7.7 | |
| 22.5 | 23.2 | 25.1 | 31.7 | 40.5 | |
| 203 | 191 | 204 | 236 | 223 | |
| 8.4% | 10.7% | 8.2% | 14.4% | 9.5% | |
| 175 | 163 | 178 | 190 | 186 | |
| 4.25 | 3.95 | 4.31 | 4.60 | 4.51 |
Profit & loss
- Sales CAGR 3Y
- +25.5%
- Profit CAGR 3Y
- +50.7%
- EPS CAGR 3Y
- +50.4%
- ROE
- 32.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,516 | 1,677 | 2,193 | 2,998 | |
| – | +10.6% | +30.8% | +36.7% | |
| 1,285 | 1,315 | 1,544 | 2,149 | |
| 231 | 361 | 649 | 849 | |
| 15.2% | 21.6% | 29.6% | 28.3% | |
| 11.6 | 32.1 | 51.9 | 44.4 | |
| 0.6 | 2.5 | 27.7 | 23.2 | |
| 18.5 | 30.9 | 76.5 | 93.7 | |
| −2.9 | −8 | 8.5 | 20.2 | |
| 220 | 352 | 606 | 797 | |
| 7.4% | 7.5% | 10.9% | 9.2% | |
| 201 | 313 | 508 | 687 | |
| – | +55.9% | +62.4% | +35.1% | |
| 4.89 | 7.60 | 12.33 | 16.64 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 41.1 | 41.2 | 41.2 | 41.2 | |
| 762 | 1,166 | 1,690 | 2,422 | |
| 6.5 | 30.6 | 384 | 431 | |
| 136 | 378 | 722 | 876 | |
| 945 | 1,616 | 2,837 | 3,770 | |
| 98.6 | 168 | 321 | 458 | |
| – | – | – | 5.2 | |
| 96.8 | 162 | 224 | 143 | |
| 439 | 972 | 891 | 1,514 | |
| 311 | 314 | 1,402 | 1,651 | |
| 945 | 1,616 | 2,837 | 3,770 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 261 | 350 | 829 | 903 | |
| −238 | −260 | −1,119 | −446 | |
| 7.2 | 257 | 158 | −246 | |
| 30 | 347 | −131 | 211 | |
| −68.1 | −63.8 | −161 | −137 | |
| 192 | 286 | 668 | 766 | |
| −25.7 | −30.8 | −21.1 | −130 |
Shareholding pattern
- Promoters70.41%
- Public29.53%
- Employee trusts0.06%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 70.41% | 29.53% | plus 0.02 | |
| 30 Jun 2026 | 70.39% | 29.57% | 0.00 | |
| 31 Mar 2026 | 70.39% | 29.56% | 0.00 | |
| 31 Dec 2025 | 70.39% | 29.59% | 0.00 | |
| 30 Sep 2025 | 70.39% | 29.60% | – |
Major shareholders
Filings & events
News
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