BLS International Services Ltd

Stocks
1

BLS International Services Hits New 52-Week High on Strong Results

The utilities and power sectors gave the Indian headline indices a lift, as both surged by more than 1.5% each, driven by the Adani Group stocks. Broader indices outperformed the main indices significantly.

BLS International Services Ltd, one of the session’s top BSE Smallcap gainers, attracted investors with its strong upswing. On an intraday basis on Monday, shares of BLS International Services Ltd soared more than 10%, reaching a new 52-week high of Rs 286.45 per share on the BSE. Shares of the company have climbed around 145% in the past year while providing impressive returns of more than 27% in just one month!

Considering the company’s quarterly performance, on a consolidated basis, it reported healthy growth of 40.56% from Rs 272.82 crore registered in Q1FY23, recording total revenue of Rs 383.49 crore in Q1FY24. It has reported outstanding operating profit growth of 146.98%. Compared to the same quarter last year, the net profit for the first quarter of FY24 soared 126.14%, from Rs 30.47 crore to Rs 68.91 crore.

The company also revealed that management is focused on boosting cash generation as a key business success metric and that it generated Rs 77 crore in cash from operations during the first quarter of FY24. The Group continues to be debt-free, with Rs 642 crore in cash and cash equivalents.

A trusted global tech-enabled services partner for governments and citizens, BLS International is amongst the major players globally in this domain. It is a preferred partner for embassies and governments across the world. With more than 17 years of global experience and operating in 60 countries, the company processed nearly 220 million applications to date. It has the best reputation for setting benchmarks in the domain of visa, passport, e-governance, attestation, biometric, e-visa and retail services.

Keep a close eye on this scrip for the upcoming sessions!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

2

BLS International To Provide Visa Outsourcing Services For Poland In The Philippines

BLS International Ltd. has secured a contract with the Embassy of Poland in the Philippines to provide comprehensive visa outsourcing services.

BLS International Services Limited (BLS), is a part of the four-decades-old BLS Group with a global presence and diversified range of services. It is the biggest global player in visa application outsourcing. The company operates in 2 segments: Visa & Consular Services which includes Visa, consular, and VAS services, and Digital Services which includes E-Gov Services, Banking correspondent, and Assisted E-commerce.

BLS International services to offer Visa services

BLS International, a leading provider of visa processing and consular services, announced on Tuesday a significant contract signing with the Embassy of Poland in the Philippines. This agreement highlights BLS International’s role in enhancing the visa application process for travelers heading to Poland from the Philippines. The partnership aims to streamline and improve visa outsourcing services, ensuring a smoother and more efficient experience for applicants. According to BLS International, this milestone agreement represents a strategic step towards bolstering their portfolio of consular services, emphasizing their commitment to facilitating seamless travel procedures between the two countries.

About the Service

BLS International will manage both Schengen and National visa applications at two visa centers in Manila and Cebu under the new contract with the Embassy of Poland in the Philippines. This agreement extends their advanced visa services in the region, emphasizing their commitment to streamlining international travel. Shikhar Aggarwal, Joint Managing Director of BLS International, highlighted the contract’s role in enhancing visa processing and simplifying travel procedures for applicants.

Conclusion: BLS International’s contract with the Embassy of Poland in the Philippines marks a pivotal step in enhancing visa outsourcing services for both Schengen and National visa applications. By establishing visa centers in Manila and Cebu, BLS International aims to streamline the visa application process, facilitating smoother and more efficient travel arrangements to Poland. This initiative underscores their commitment to providing advanced consular services and simplifying international travel procedures for applicants from the Philippines. The stock of BLS International services currently trades at Rs.370.50 a piece down by 0.72% from its previous day’s closing price.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

3

BLS International To Secure Rs 2,000 Crore Via QIP

BLS International Services Ltd. board has approved to raise up to Rs 2,000 crore through qualified institution placement (QIP), subject to shareholder and statutory approvals.

BLS International Services Limited (BLS), a member of the four-decade-old BLS Group, boasts a global presence and a diverse range of services. It is one of the largest global players in visa application outsourcing.

Fundraising Proposal

The board of directors of BLS International Services Ltd. has approved a proposal to raise up to Rs 2,000 crore through qualified institution placement (QIP). This fundraiser is subject to the approval of shareholders and statutory authorities. The company plans to raise these funds through the issuance of securities, which could involve one or more public or private offerings, QIP, rights issues, or a combination of these methods. This strategic move aims to enhance the company’s financial flexibility and support its growth initiatives.

Recent Financial Performance

In the first quarter of the current financial year, BLS International reported a robust financial performance. According to an exchange filing, the company’s net profit rose by an impressive 70% year-on-year to Rs 120.78 crore. This significant increase in profitability underscores the company’s effective operational strategies and market presence.

Revenue for Q1 FY25, also showed strong growth, increasing by 28.5% year-on-year to Rs 492.67 crore. This revenue surge reflects the company’s ability to expand its market reach and capitalize on new opportunities. Operating income, or earnings before interest, taxes, depreciation, and amortization (EBITDA), rose by 66% year-on-year to Rs 133.2 crore.

Conclusion

BLS International Services Ltd. is demonstrating significant growth and strategic foresight through its proposed fundraising and impressive financial performance. The approval to raise up to Rs 2,000 crore through QIP marks a critical step in the company’s growth strategy, aiming to leverage new opportunities and enhance shareholder value. The strong financial results for Q1 FY25 further underscore the company’s robust market position and operational effectiveness. As BLS International continues to pursue its strategic initiatives, it is well-positioned to achieve sustained growth and success.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.