BLS E-Services Ltd.
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ABOUT
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company is almost debt free
- Promoters have been increasing their shareholding - up 3.0pp over 2 years
- Company has delivered good sales growth of 119.8% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 52.0%
- Company comfortably covers its interest (79.0x coverage)
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (56.9% of PBT)
- Recent results are weak - TTM profit is down 37.5% versus prior year
- Company has a low return on capital employed of 6.6%
- Company has a low return on equity of 4.6% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.45x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| URBANCO | 171.55 | 0.00 | 26456.11 | 0.00 | -921.20 | -13373.78 | 5283.40 | 1338.56 | -8.23 | -18.44 |
| BLS | 236.40 | 13.79 | 9733.56 | 1.06 | 201.62 | 11.41 | 890.53 | 25.33 | 36.54 | 28.34 |
| SIS | 426.45 | 41.14 | 6027.71 | 1.64 | 101.66 | 9.37 | 4603.58 | 29.73 | 7.39 | 4.66 |
| QUESS | 354.55 | 20.97 | 5296.48 | 3.10 | 82.12 | 61.07 | 4181.68 | 14.52 | 24.72 | 2.02 |
| BLSE | 320.80 | 50.15 | 2914.68 | 0.31 | 18.63 | 6.30 | 304.09 | 24.63 | 18.67 | 6.98 |
| TEAMLEASE | 1282.60 | 13.24 | 1959.99 | 0.00 | 34.45 | 37.74 | 3034.69 | 4.96 | 16.22 | 1.05 |
| BLUSPRING | 130.50 | 100.21 | 1951.00 | 0.00 | -1.58 | 77.90 | 949.29 | 19.07 | 1.32 | 2.17 |
| KAPSTON | 564.30 | 56.31 | 1717.29 | 0.00 | 84.89 | 1284.83 | 2216.57 | 1062.33 | 13.16 | 6.56 |
| GCSL | 602.25 | 53.39 | 1455.00 | 0.12 | 128.00 | 1240.31 | 375.21 | 70.67 | 21.85 | 46.76 |
| UDS | 207.05 | 15.97 | 1386.27 | 0.00 | 30.28 | 4.47 | 764.29 | 9.15 | 9.99 | 5.54 |
| KRYSTAL | 634.15 | 14.44 | 886.03 | 0.24 | 17.41 | 5.92 | 360.71 | 11.65 | 16.36 | 6.33 |
| INNOVISION | 279.85 | 18.05 | 666.42 | 0.00 | -73.55 | -771.26 | 2638.15 | 948.03 | 37.59 | -3.82 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 10 | 8 | 14 | 12 | 18 | 21 | 16 | 15 | 24 | 23 | 26 | 19 | |
| 7 | 7 | 7 | 8 | 8 | 11 | 12 | 16 | 13 | 21 | 20 | 23 | 17 | |
| Operating Profit | 0 | 3 | 2 | 6 | 4 | 7 | 10 | -0 | 2 | 3 | 3 | 3 | 2 |
| OPM % | 6.35% | 27.15% | 20.71% | 41.44% | 35.45% | 37.22% | 45.81% | -0.96% | 11.42% | 12.97% | 13.03% | 13.05% | 10.77% |
| 0 | 0 | 0 | 3 | 6 | 6 | 5 | 3 | 4 | 4 | 3 | 3 | 3 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | -0 | 2 | 1 | 8 | 9 | 11 | 14 | 3 | 5 | 7 | 6 | 6 | 5 |
| Tax % | -203.03% | 20.83% | 23.66% | 24.59% | 25.37% | 25.09% | 25.26% | 24.91% | 25.34% | 25.00% | 26.58% | 25.90% | 25.94% |
| Net Profit | -1 | 2 | 1 | 6 | 7 | 9 | 10 | 2 | 4 | 5 | 4 | 5 | 3 |
| -0.15 | 0.23 | 0.11 | 0.85 | 0.73 | 0.94 | 1.12 | 0.24 | 0.43 | 0.55 | 0.45 | 0.50 | 0.38 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 2 | 10 | 21 | 40 | 67 | 87 | 91 | |
| 2 | 19 | 11 | 29 | 46 | 76 | 80 | |
| Operating Profit | -0 | -9 | 10 | 11 | 21 | 11 | 11 |
| OPM % | -11.12% | -83.00% | 47.16% | 26.79% | 30.91% | 12.92% | 12.56% |
| 2 | 0 | -2 | 3 | 19 | 13 | 12 | |
| Interest | 1 | 1 | 6 | 3 | 2 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before Tax | 1 | -9 | 2 | 11 | 37 | 24 | 23 |
| Tax % | -0.03% | 28.93% | 36.44% | 31.06% | 25.21% | 25.73% | 25.81% |
| Net Profit | 1 | -7 | 1 | 7 | 27 | 17 | 17 |
| EPS | 857.69 | -6526.70 | 0.17 | 0.80 | 3.02 | 1.92 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 33.11% | 52.02% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 120%
- 3 Years:
- 62%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 83%
- 3 Years:
- 157%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 72%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- -9%
- 3 Years:
- 5%
- Last Year:
- 4%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 67 | 91 | 91 | 91 |
| 14 | 8 | 26 | 302 | 328 | 331 | |
| 11 | 7 | 40 | 32 | 4 | 10 | |
| Trade Payables | 0 | 0 | 0 | 0 | 1 | 3 |
| 7 | 2 | 5 | 18 | 67 | 41 | |
| Total Liabilities | 32 | 17 | 137 | 442 | 491 | 476 |
| 0 | 0 | 0 | 1 | 1 | 4 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 11 | 15 |
| 13 | 13 | 131 | 131 | 252 | 245 | |
| 0 | 0 | 0 | 4 | 14 | 9 | |
| Cash & Bank | 0 | 1 | 1 | 203 | 9 | 167 |
| 19 | 4 | 5 | 102 | 204 | 37 | |
| Total Assets | 32 | 17 | 137 | 442 | 491 | 476 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 2 | 9 | 13 | 4 | 9 | 10 | |
| Cash from Investing | -0 | -0 | -118 | -287 | 26 | 2 |
| Cash from Financing | -1 | -9 | 107 | 288 | -33 | -9 |
| 0 | 0 | 1 | 5 | 2 | 3 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-22 - BLS E-Services Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-21 - BLS E-Services Limited has informed the Exchange about Communication to Shareholders regarding Web-link letter
2026-08-21 - BLS E-Services Limited has informed the Exchange that Record date for the purpose of Final Dividend for FY 2025-26 is 08-Sep-2026.
2026-08-21 - BLS E-Services Limited has informed informed about Business Responsibility and Sustainability Report for the financial year ended March 31, 2026
2026-08-21 - BLS E-Services Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 15, 2026
2026-08-19 - In continuation of the Company s earlier announcement dated August 18, 2026, we hereby submit the Newspaper advertisements published in Jansatta (Hindi Language, Delhi Edition) on August 19, 2026.
2026-08-18 - The Company has published Newspaper Advertisements for the attention of the Equity Shareholders of the Company in respect of information regarding the AGM scheduled to be held on Tuesday, September 15, 2026 at 03:00 p.m. (IST) through Video Conferencing/Other Audio Visual Means ( VC/OAVM ) facility and other related information, published today i.e. Tuesday, August 18, 2026 in the following newspapers:1. Financial Express- English Language- All edition2. Jansatta- Hindi Language Delhi Edition
2026-08-11 - The Company is submitting the Monitoring Agency Report, received from Monitoring Agency CRISIL dated August 11, 2026 for the first quarter ended June 30, 2026 with respect to the utilization of proceeds from Initial Public Offer of the Company.
2026-08-08 - BLS E-Services Limited has informed the Exchange about Copy of Newspaper Publication
News
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