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Swing Capital

BLS International Services Ltd

NSE: BLS BSE: 540073

BLS International Services Limited (BLS), a part of the four-decades-old BLS Group with a global presence and diversified range of services, and is the biggest global players in visa application outsourcing.[1]

₹253
52W: ₹218 — ₹422
PE 320 · Book ₹1.83 · +13725% vs book
Market Cap₹10,400 Cr
Stock P/E320Price to Earnings
ROCE19%Return on Capital
ROE22%Return on Equity
Div. Yield0.83%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 37.1%
  • +Company has been maintaining a healthy dividend payout of 124%
  • +Company's median sales growth is 31.6% of last 10 years

Weaknesses

  • −Stock is trading at 137 times its book value
  • −Tax rate seems low
  • −Earnings include an other income of Rs.53.3 Cr.
  • −Promoter holding has decreased over last 3 years: -4.02%

Shareholding Pattern

Promoters70.39%
FIIs6.14%
DIIs2.99%
Public20.42%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.52%70.38%▼1.170.38%70.38%70.39%▲0.070.39%70.39%70.39%
FIIs7.4%8.96%▲1.610.93%▲2.09.94%▼1.08.54%▼1.46.82%▼1.76.37%▼0.56.14%▼0.2
DIIs1.35%1.71%▲0.41.36%▼0.32.26%▲0.92.87%▲0.62.9%▲0.02.92%▲0.02.99%▲0.1
Public19.68%18.87%▼0.817.27%▼1.617.38%▲0.118.18%▲0.819.88%▲1.720.28%▲0.420.42%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales28234038344125444650
Expenses22273334343741394043
Operating Profit6-47405-15568
OPM %21%-15%17%11%1%11%-61%12%13%15%
Net Profit15515119021525
EPS ₹0.360.120.360.040.450.010.040.020.120.61

AI Insights

Revenue Trend

TTM revenue at ₹166Cr, up 20.3% YoY. OPM at 2%.

Debt Position

Borrowings at ₹7Cr. Debt-to-equity ratio: 0.21x. Healthy balance sheet.

Institutional Flow

DIIs: 2.99% (+2.94pp change). FIIs: 6.14% (-2.32pp change). Promoters hold 70.39%.

Margin & Efficiency

ROCE improving from 9% (Mar 2014) to 19% (Mar 2025). Working capital days: -53.

Valuation

PE 320x with 19% ROCE. Price is 13725% above book value of ₹1.83. Dividend yield: 0.83%.

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