The shares of this small-cap company, which is involved in visa and passport application processing and consultancy services, gained around 3 percent to Rs 268 per share after the company received an order from UIDAI.
At 10:45 a.m., On the exchange, BLS International Services Ltd shares were quoted at Rs 264.40 per share, up 1.46 percent from the previous close price. The company has a market capitalization of Rs 10,876 crore.
According to the company’s exchange filing, BLS International Services Ltd has received a significant contract from the Unique Identification Authority of India (UIDAI) to conduct a comprehensive data quality check for Aadhaar information.
UIDAI is a statutory authority established under the Aadhaar Act 2016 by the Government of India under the Ministry of Electronics & Information Technology.
The UIDAI project will span over 3 years and be extendable by another 2 years, the order can generate revenue of around Rs 50 crore for the Company.
BLS International Services shares have delivered a return of 45 percent in the previous six months, and a return of 51 percent in a year.
The Company’s return on equity increased from 19.52 percent in FY22 to 25 percent in FY23, while the return on capital employed rose from 19.79 percent to 26.47 percent during the same period.
The company’s revenue has increased by 14 percent year on year, from Rs 356 crore in Q2FY23 to Rs 407 crore in Q2FY24. During the same period, Net profit has increased by 64 percent from Rs 50 crore to Rs 82 crore.
BLS International outsources visa, passport, and attestation services to client countries. It oversees all administrative and non-judgmental aspects of the visa application procedure for Diplomatic Missions.
Written by Omkar Chitnis
