BLS E-Services share price & results
- Jun 2026
- Sept 2026
Asset-light BC network linking banks & governments to rural India via touchpoints, CSCs & loan distribution.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 304 | +24.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 7.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 19.0 | +5.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 11.48 | −0.7 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 3.77 | −6.6 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 71.22 | +43.0 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −13.2% 1Y
1Y: ₹172.33 on 24 Oct 2025 → ₹149.5. High ₹328.6 (30 Sept 2026), low ₹128.58 (9 Mar 2026).
- Previous close
- ₹142.4
- Market cap
- ₹2.6k Cr
- 52-week range
- ₹128.58 – ₹328.6
- One year
- −12.25%
- Price to earnings (TTM to Jun 2026)
- 44.82×
- Return on equity (TTM to Jun 2026)
- 11.48%
Overview
- Symbol
- NSE:BLSE
- Sector
- Information Technology
- Exchange
- NSE
- Currency
- INR
What BLS E-Services Limited does
Based on the company's own presentations, annual report and earnings calls.
BLS E-Services is a tech-enabled digital services provider that acts as Business Correspondent (BC) for banks, delivering last-mile banking (account opening, cash deposit/withdrawal, remittances, bill payment) through a merchant-led network of touchpoints in rural and semi-urban India. It also runs Common Service Centres for state e-governance (birth/death certificates, PAN, Aadhaar, land records), operates a loan-distribution business (personal, business and credit products) through its subsidiary Aadifidelis, and runs an Assisted E-Services vertical (PoS, ticketing, e-commerce, insurance) via BLS Touchpoints and BLS E-stores. Revenue is earned through transaction commissions, registration/renewal/service-activation fees charged to merchants, and support-service charges, on an asset-light model where merchants own or lease the touchpoints and stores.
Segments
- Business Correspondent (BC) Services
- Loan Distribution
- E-Governance Services
- Assisted E-Services
- Business Correspondents / CSPs
- 45,800+ (as on 31 March 2026)
- Total BLS Touchpoints (network reach)
- 1,55,000+ (as on 31 March 2026)
- Rural / semi-urban service codes
- 30,000+
- Urban service codes
- 15,800+
- Bank / NBFC tie-ups (BC business)
- 162 (as on 31 March 2026)
- Common Service Centres (e-governance)
- 22,000+ CSCs across Uttar Pradesh, Karnataka, Gujarat, West Bengal & Rajasthan
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +6% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 77 | 128 | 239 | 244 | 270 | 281 | 323 | 304 |
| Expenses | 64 | 112 | 220 | 226 | 250 | 264 | 303 | 283 |
| Operating profit | 14 | 16 | 19 | 18 | 20 | 17 | 20 | 21 |
| Operating margin | 18.0% | 12.0% | 8.0% | 7.0% | 7.0% | 6.0% | 6.0% | 7.0% |
| Other income | 7 | 5 | 6 | 7 | 6 | 6 | 6 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 2 | 2 | 1 | 2 | 2 | 2 | 1 |
| Profit before tax | 19 | 19 | 23 | 23 | 25 | 21 | 24 | 25 |
| Tax rate | 23.0% | 27.0% | 26.0% | 25.0% | 26.0% | 27.0% | 24.0% | 26.0% |
| Net profit | 15 | 14 | 17 | 18 | 18 | 15 | 18 | 19 |
| EPS (₹ per share) | 0.79 | 0.72 | 0.73 | 0.81 | 0.85 | 0.70 | 0.81 | 0.84 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 302 | 519 | 1,118 |
| Expenses | 260 | 460 | 1,043 |
| Operating profit | 42 | 61 | 75 |
| Other income | 8 | 25 | 25 |
| Interest | 0 | 0 | 0 |
| Depreciation | 4 | 6 | 7 |
| Profit before tax | 46 | 78 | 93 |
| Net profit | 34 | 59 | 69 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 0 | 67 | 91 | 91 | 91 | 91 |
| Reserves | 15 | 40 | 340 | 392 | 414 | 432 |
| Borrowings | 15 | 5 | 7 | 7 | 7 | 6 |
| Other liabilities | 26 | 67 | 71 | 214 | 205 | 233 |
| Total liabilities | 56 | 179 | 510 | 704 | 717 | 762 |
| Fixed assets | 15 | 88 | 93 | 179 | 179 | 180 |
| Capital work in progress | 0 | 0 | 0 | 11 | 12 | 15 |
| Investments | 0 | 0 | 15 | 110 | 130 | 126 |
| Other assets | 41 | 92 | 402 | 404 | 397 | 441 |
| Total assets | 56 | 179 | 510 | 704 | 717 | 762 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 9 | 20 | 29 | 20 | 67 | 51 |
| Cash from investing | -1 | -14 | -66 | -295 | -23 | -14 |
| Cash from financing | -5 | -8 | 46 | 290 | -4 | -19 |
| Net cash flow | 3 | -1 | 10 | 15 | 40 | 17 |
| Free cash flow | 9 | 12 | 28 | 15 | 54 | 42 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 50 | 32 | 27 | 30 | 66 | 39 |
| Inventory days | — | — | — | 23 | — | — |
| Days payable | — | — | — | 46 | — | — |
| Cash conversion cycle | 50 | 32 | 27 | 8 | 66 | 39 |
| Working capital days | -110 | -55 | -58 | -29 | -53 | -14 |
| Return on capital employed | — | 31.0% | 45.0% | 17.0% | 16.0% | 16.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 17.0% | 16.0% |
What the price assumes
AttractiveTo justify its price of ₹150, this stock must grow earnings at 29% every year for 7 years. Our analysis caps realistic growth at ~42%. At that growth it is worth ₹289 — upside of 93%.
- Growth the price implies
- 28.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 42.5% a year
- net profit, FY24–FY26
- The gap
- -0.1 pp
- 93% downside if it only repeats history
Ownership
Who owns it
Promoters hold 72.51% as of Sept 2026; institutions added 1.87 pts since Jun 2026.
- Promoters 72.51%
- Foreign institutions 2.51%
- Domestic institutions 0.02%
- Public 24.79%
- Others 0.17%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- +0.64 pp 54.53% held
- +0.50 pp 1.83% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of BLS E-Services Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 54.53% | +0.64 pp | |
| 9.47% | unchanged | |
| 6.99% | unchanged | |
| 4.55% | unchanged | |
| 1.83% | +0.50 pp | |
| 1.49% | unchanged | |
| 1.09% | unchanged | |
| 0.01% | unchanged | |
| 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
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