On 6 Nov 2026, BLS E-Services was priced at ₹149.81, or 62.2× trailing earnings, against an industry P/E of 16.3×, and the shares are 12% below their 52-week high. It earns ROCE of 16% and ROE of 13%, and sales and net profit grew 66% and 45% a year over 3 years. It has almost no debt, and its dividend yield is 0.3%. It is a small-cap company with a market cap of ₹2,719 Cr, ranked 7th of 52 Specialty Business Services companies by market cap; the shares rose 45% over the past year.
- ₹147.10
- ₹150.49
- ₹145.50
- ₹147.15
- 2.4 L
Health check
- ReturnsAhead
+45.5% over a year, better than 6 of 7 peers.
- Price tagPricier
P/E 62.2 vs industry 16.3.
- GrowthSteady
Sales +66.3%, profit +44.9% a year over 3 years.
- ProfitabilityAverage
ROCE 16.3% vs peer median 16.6%.
- Balance sheetSolid
Practically debt-free, Piotroski 7 of 9.
- Red flags1 to check
P/E of 62.2 against an industry P/E of 16.3.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹2,719 Cr
- Small cap
- P/E
- 62.2
- Industry 16.3
- Price to book
- 4.90
- Peers 3.44
- Dividend yield
- 0.33%
- ROE
- 12.6%
- Peers 15.5%
- ROCE
- 16.3%
- Peers 16.6%
- Debt to equity
- 0.01
- Debt ₹7.56 Cr
- EPS (TTM)
- ₹2.41
- Face value ₹5
- OPM (TTM)
- 6.5%
- Net margin 4.5%
- Sales growth
- +57.3%
- Latest quarter vs a year ago
- Profit growth
- +12.5%
- Latest quarter vs a year ago
- Price to sales
- 2.05
- EV/EBITDA 30.9
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly sales up 57.3% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 62.2 against an industry P/E of 16.3.
About BLS E-Services
BLS E-Services Limited, a technology enabled digital service company, provides assisted E-services and E-governance services in India. The company act as business correspondents to provide banking products and services on behalf of banks to people, such as opening savings, recurring deposit accounts, cash deposits, withdrawals, remittance, transfer, and bill collection services, etc; and value added services through BLS touchpoints, including PoS…
- Headquarters
- Gurugram
- Employees
- 1,900
- Sector
- Industrials
- ISIN
- INE0NLT01028
- Website
- blseservices.com
Price range
- Avg volume (3M)
- 6.8 L
- 1-year return
- plus 45.5%
- From 52-week high
- minus 11.8%
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 | – | −1.55% | 3,457 | 18.1 | 3.44 | 16.6% | 15.5% | 11.9% | 23.3% | 50.7% | 0.00% | −6.5% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 270 | 281 | 323 | 304 | 424 | |
| 250 | 264 | 303 | 283 | 396 | |
| 20 | 16.7 | 20.5 | 21.2 | 28.8 | |
| 7.4% | 5.9% | 6.3% | 7.0% | 6.8% | |
| 6.3 | 6 | 5.5 | 5.7 | 3.7 | |
| 0.2 | 0.2 | 0.1 | 0.1 | 0.2 | |
| 1.5 | 1.6 | 1.8 | 1.4 | 5.9 | |
| 24.6 | 21 | 24 | 25.3 | 26.4 | |
| 25.7% | 27.3% | 24.1% | 26.4% | 22.2% | |
| 15.4 | 12.6 | 14.7 | 15.3 | 17.4 | |
| 0.42 | 0.69 | 0.81 | 0.84 | 0.48 |
Profit & loss
- Sales CAGR 3Y
- +66.3%
- Profit CAGR 3Y
- +44.9%
- EPS CAGR 3Y
- +44.9%
- ROE
- 12.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 243 | 301 | 519 | 1,118 | |
| – | +24.0% | +72.3% | +115.2% | |
| 209 | 259 | 459 | 1,043 | |
| 33.7 | 42 | 60.2 | 75.2 | |
| 13.9% | 13.9% | 11.6% | 6.7% | |
| 2.6 | 7.7 | 22.7 | 16.1 | |
| 3.8 | 0.8 | 0.7 | 0.7 | |
| 2.8 | 3.4 | 6.2 | 6.3 | |
| −2.8 | 0.1 | 3.2 | 8.5 | |
| 27 | 45.7 | 79.1 | 92.9 | |
| 24.6% | 26.6% | 25.7% | 25.5% | |
| 18.9 | 31.4 | 52.6 | 57.5 | |
| – | +66.3% | +67.4% | +9.4% | |
| 1.04 | 2.22 | 2.90 | 3.17 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 66.7 | 90.9 | 90.9 | 90.9 | |
| 40.2 | 340 | 392 | 432 | |
| 5.2 | 7.3 | 7.1 | 6.1 | |
| 67.3 | 71.2 | 214 | 233 | |
| 179 | 510 | 704 | 762 | |
| 6 | 11.4 | 22.8 | 27.6 | |
| – | – | 10.7 | 14.8 | |
| 7.2 | 90.1 | 187 | 5.8 | |
| 42.9 | 265 | 200 | 387 | |
| 123 | 143 | 283 | 326 | |
| 179 | 510 | 704 | 762 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 28.9 | 19.7 | 67.3 | 50.7 | |
| −65.6 | −295 | −22.7 | −14.3 | |
| 46.4 | 290 | −4.3 | −19.2 | |
| 9.7 | 14.6 | 40.3 | 17.3 | |
| −0.9 | −4.6 | −13.1 | −8.8 | |
| 28 | 15 | 54.2 | 41.9 | |
| – | – | – | −13.6 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.