Synopsis:
BLS International Services Ltd shares jumped over 8% after reporting strong Q2 results with 27% YoY profit growth and 49% sales growth, driven by robust performance across visa, consular, and digital service segments.
This company has a global presence and diversified range of services and is the biggest global player in visa application outsourcing is now in the focus after its board approved Q2 results with 27% profit growth and 49% sales growth year on year.
With market capitalization of Rs. 13,627 cr, the shares of BLS International Services Ltd are currently trading at Rs. 324 per share, increasing more than 8% in today’s market session making a high of Rs. 333.90, from its previous close of Rs. 308.75 per share.
Quarter-on-Quarter (QoQ) Performance
BLS International posted steady sequential growth in Q2 FY2025. Sales rose 3.7% QoQ to Rs. 737 crore from Rs. 711 crore in the Q1FY26, while EBITDA increased 4.4% to Rs. 213 crore from Rs. 204 crore. Net profit improved 2.8% to Rs. 186 crore from Rs. 181 crore, and EPS grew 2.6% to Rs. 4.26 from Rs. 4.15 over the same period.
Year-on-Year (YoY) Performance
Compared to the same quarter last year, BLS International delivered robust growth. Sales jumped 49% YoY from Rs. 495 crore to Rs. 737 crore, while EBITDA surged 30% from Rs. 164 crore to Rs. 213 crore. Net profit climbed 27% to Rs. 186 crore from Rs. 146 crore, and EPS rose 27% to Rs. 4.26, showcasing strong business momentum and improved profitability across segments.
Business and Segment Highlights
BLS International Services Ltd has achieved its best-ever quarterly performance, thereby deepening its impact worldwide and broadening its portfolio by the new major contracts and the strategic initiatives in the different regions.
One of the major changes is the signing of a three-year contract between the company and the Ministry of External Affairs, Government of India, to set up and run Indian Visa Application Centres in China. This success adds to BLS International’s continuity of cooperation with the Indian government and the excellence of the consular services they have demonstrated. Moreover, the company has acquired an expansion of its footprint in Central Asia by winning the Cyprus Visa processing operations in Kazakhstan.
It has widened its regional influence in Latin America through the inauguration of a new Visa Application Centre in Argentina, moving to a larger office in Ecuador, and changing to a self-managed model in Bolivia, thus, from partner-led to direct operations.
The company has consolidated its position in India’s digital ecosystem through a significant contract worth Rs. 2,055.35 crore from UIDAI to set up and operate District-Level Aadhaar Seva Kendras all over the country. This contract of long duration is a reflection of BLS’s ability in carrying out large government projects and is in line with India’s dream of a digitally transformed society.
Additionally, by BLS International’s decision, the company took a step into the hospitality industry with the purchase of the Trefeddian Hotel in the United Kingdom for Rs. 78.3 crores. This step helps the company’s long-term plan of creating a diversified, sustainable and value-adding global enterprise.
In Q2FY26, BLS International reported strong growth across both business segments. The Visa & Consular Services segment saw revenue rise 9.8% YoY to Rs. 458.6 crore, with EBITDA up 26.4% to Rs. 192.2 crore and margins improving to 41.9%.
The number of applications increased 11.7%, while net revenue per application grew 11.8%. The Digital Services segment delivered exceptional growth, with revenue surging 259.3% to Rs. 278 crore and EBITDA rising 72.4% to Rs. 20.6 crore, driven by higher volumes and expanding digital adoption.
About the company
BLS International Services Ltd is a global provider of tech-enabled outsourcing and consular services for governments and diplomatic missions. The company handles visa, passport, e-governance, and citizen services across more than 60 countries. With a strong presence in both government and private sectors, BLS leverages technology and process efficiency to deliver secure, scalable, and customer-centric service solutions worldwide.
The company has demonstrated strong profitability, delivering an impressive 45.7% CAGR in profit growth over the past five years. It maintains robust returns with a ROCE of 33.6% and a ROE of 34.3%, supported by a consistent three-year average ROE of 32.2%.
Written by Manideep Appana
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