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    BLS International Services Limited

    Outsourced visa, passport, consular, attestation and e-governance services provider to governments across 80+ countries.

    Consumer Services
    Consumer Discretionary
    View BLS earnings calls
    ₹235.7
    -9.29% from avg

    Overview

    Price

    ₹235.7

    Market Cap

    ₹9.8k Cr

    Sector

    Consumer Services

    Consumer Discretionary

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital1010104141414141
    Reserves4184505607621.2k1.7k2.1k2.4k
    Borrowings1111731359404431
    Other Liabilities403852136378714805876
    Total Liabilities4694986339451.6k2.8k3.3k3.8k
    AssetsFixed Assets41381122342961.4k1.5k1.7k
    CWIP0000011122
    Investments29247088116220271352
    Other Assets4004364516231.2k1.2k1.6k1.7k
    Total Assets4694986339451.6k2.8k3.3k3.8k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating13311645185261350829903
    Cash from Investing-66-107-22-172-238-260-1.1k-446
    Cash from Financing-87-54-9-127257158-246
    SummaryCapital Expenditure
    Free Cash Flow15011640103193286668766
    FCF Margin

    Valuation

    Assumptions

    Current — BLS
    Price
    ₹236
    EPS (TTM)
    ₹16.68
    PE (TTM)
    14.1
    Profit growth
    52.3%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (35.7×) and current (14.1×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹236
    vs
    Fair value · 15% return
    ₹985
    318%Undervalued

    At 52.3% growth and a 14× exit, ₹236 only delivers your return if you pay ₹985. The price is currently baking in 18% growth.

    EPS grows 52.3%/yr for 5 years, then fades to 6% over 2, exits at 14×.

    YearGrowthEPS (₹)
    FY2752.3%25.40
    FY2852.3%38.69
    FY2952.3%58.92
    FY3052.3%89.74
    FY3152.3%136.68
    FY3229.1% ·fade176.52
    FY336.0% ·fade187.11

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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