On Tuesday, the share price of the small-cap company hit its 52-week high of ₹412.90 per share from its previous close of ₹388.95 after the company acquired a 100% stake in Turkey-based Visa and Consular Services provider.
According to the exchange filing, BLS International Services Ltd has signed a definitive Share Purchase Agreement with its subsidiary to acquire a 100% stake in iData and its subsidiaries for a total enterprise value of Euro 50 million (Rs. 450 crores).
With iDATA’s 37+ visa centers in 15+ countries primarily serving Germany, Italy, and the Czech Republic, this strategic move expands BLS’s portfolio and European footprint. The deal, which was funded internally and is expected to be profitable right away, strengthens BLS’s position in the global visa market.
Net revenue of BLS International Services Ltd increased by 14% year over year, from ₹357 crore in Q2FY23 to ₹408 crore in Q2FY24. Their revenue rose by 6.5% sequentially from ₹383 crore in Q1FY24 to the current levels.
Furthermore, the company’s net profit increased by 60% year on year, from ₹51 crores in Q2FY23 to ₹82 crores in Q2FY24. Their quarterly profit increased by 15.4% from ₹71 crore in Q1FY24 to current levels.
The company is a small-cap company with a market capitalization of Rs 16,000 crores. The company has a zero debt-to-equity ratio, a 29% return on equity, a 31% return on capital employed, a 13% net profit margin
BLS International Services Limited promoter owns 71.52% of the company, 20.79% of the general public, 7.66% of foreign institutional investors, and 0.04% of domestic institutional investors.
The company’s share price has increased by 76% in the last six months and 136% in the last year. For instance, if an investor invested ₹1 Lakh a year ago the current value would be ₹2.36 Lakhs.
BLS International Services Limited (BLS), a member of the four-decade-old BLS Group with a global presence and a diverse range of services, is one of the world’s largest players in visa application outsourcing.
Written by Sriram KV
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