BLS International Services (NSEI:BLS) - Share price, News & Analysis

BLS fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	6/6
Past Performance	4/6
Financial Health	6/6
Dividends	0/6

BLS Stock Overview

BLS International Services Limited provides outsourcing and administrative task of visa, passport, and consular services to various diplomatic missions.

Rewards

Earnings are forecast to grow 22.67% per year

Earnings grew by 121.9% over the past year

Risk Analysis

Volatile share price over the past 3 months

Significant insider selling over the past 3 months

BLS International Services Competitors

Price History & Performance

Summary of all time highs, changes and price drops for BLS International Services
Historical stock prices
Current Share Price	₹194.20
52 Week High	₹218.65
52 Week Low	₹63.50
Beta	0.85
1 Month Change	3.52%
3 Month Change	62.34%
1 Year Change	198.43%
3 Year Change	277.64%
5 Year Change	100.83%
Change since IPO	344.37%

Recent News & Updates

May 19

Returns On Capital At BLS International Services (NSE:BLS) Paint A Concerning Picture

There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'll want to see a...

Shareholder Returns

	BLS	IN IT	IN Market
7D	-7.7%	4.4%	2.3%
1Y	198.4%	-6.1%	-0.9%

Return vs Industry: BLS exceeded the Indian IT industry which returned -6.1% over the past year.

Return vs Market: BLS exceeded the Indian Market which returned -0.9% over the past year.

Price Volatility

Is BLS's price volatile compared to industry and market?
BLS volatility
BLS Average Weekly Movement	8.5%
IT Industry Average Movement	7.1%
Market Average Movement	6.9%
10% most volatile stocks in IN Market	9.9%
10% least volatile stocks in IN Market	4.5%

Stable Share Price: BLS is more volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: BLS's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of Indian stocks.

About the Company

Founded	Employees	CEO	Website
1983	15,000	Nikhil Gupta	https://www.blsinternational.com

BLS International Services Limited provides outsourcing and administrative task of visa, passport, and consular services to various diplomatic missions. The company offers citizen and front-end services, e-visa, bio metric and identity management; verification and attestation; and convenience services. In addition, it offers passport and government services.

BLS International Services Fundamentals Summary

How do BLS International Services's earnings and revenue compare to its market cap?
BLS fundamental statistics
Market Cap	₹39.73b
Earnings (TTM)	₹1.11b
Revenue (TTM)	₹8.50b

35.7x

P/E Ratio

4.7x

P/S Ratio

Is BLS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
BLS income statement (TTM)
Revenue	₹8.50b
Cost of Revenue	₹6.50b
Gross Profit	₹2.00b
Other Expenses	₹889.45m
Earnings	₹1.11b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	5.44
Gross Margin	23.56%
Net Profit Margin	13.09%
Debt/Equity Ratio	0.5%

How did BLS perform over the long term?

See historical performance and comparison

Dividends

0.2%

Current Dividend Yield

14%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is BLS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BLS?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for BLS. This is calculated by dividing BLS's market cap by their current preferred multiple.
What is BLS's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	₹39.73b

BLS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4.3x
Enterprise Value/EBITDA	34.2x
PEG Ratio	1.6x

Price to Earnings Ratio vs Peers

How does BLS's PE Ratio compare to its peers?

BLS PE Ratio vs Peers

The above table shows the PE ratio for BLS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	49.9x

Forward PE

Price-To-Earnings vs Peers: BLS is good value based on its Price-To-Earnings Ratio (35.7x) compared to the peer average (49.9x).

Price to Earnings Ratio vs Industry

How does BLS's PE Ratio compare vs other companies in the Indian IT Industry?

Price-To-Earnings vs Industry: BLS is expensive based on its Price-To-Earnings Ratio (35.7x) compared to the Indian IT industry average (26.1x)

Price to Earnings Ratio vs Fair Ratio

What is BLS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BLS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	35.7x
Fair PE Ratio	31.8x

Price-To-Earnings vs Fair Ratio: BLS is expensive based on its Price-To-Earnings Ratio (35.7x) compared to the estimated Fair Price-To-Earnings Ratio (31.8x).

Share Price vs Fair Value

What is the Fair Price of BLS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BLS (₹194.2) is trading above our estimate of fair value (₹135.12)

Significantly Below Fair Value: BLS is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: BLS is poor value based on its PEG Ratio (1.6x)

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Future Growth

How is BLS International Services forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

6/6

Future Growth Score 6/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

22.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BLS's forecast earnings growth (22.7% per year) is above the savings rate (6.7%).

Earnings vs Market: BLS's earnings (22.7% per year) are forecast to grow faster than the Indian market (17.4% per year).

High Growth Earnings: BLS's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BLS's revenue (23.8% per year) is forecast to grow faster than the Indian market (11.5% per year).

High Growth Revenue: BLS's revenue (23.8% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BLS's Return on Equity is forecast to be high in 3 years time (21.6%)

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Past Performance

How has BLS International Services performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-3.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BLS has high quality earnings.

Growing Profit Margin: BLS's current net profit margins (13.1%) are higher than last year (10.5%).

Past Earnings Growth Analysis

Earnings Trend: BLS's earnings have declined by 3.9% per year over the past 5 years.

Accelerating Growth: BLS's earnings growth over the past year (121.9%) exceeds its 5-year average (-3.9% per year).

Earnings vs Industry: BLS earnings growth over the past year (121.9%) exceeded the IT industry 38.6%.

Return on Equity

High ROE: BLS's Return on Equity (19.5%) is considered low.

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Financial Health

How is BLS International Services's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: BLS's short term assets (₹4.0B) exceed its short term liabilities (₹542.9M).

Long Term Liabilities: BLS's short term assets (₹4.0B) exceed its long term liabilities (₹92.2M).

Debt to Equity History and Analysis

Debt Level: BLS has more cash than its total debt.

Reducing Debt: BLS's debt to equity ratio has reduced from 57.5% to 0.5% over the past 5 years.

Debt Coverage: BLS's debt is well covered by operating cash flow (5943.6%).

Interest Coverage: BLS's interest payments on its debt are well covered by EBIT (149.7x coverage).

Balance Sheet

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Dividend

What is BLS International Services's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

0.19%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BLS's dividend (0.19%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.43%).

High Dividend: BLS's dividend (0.19%) is low compared to the top 25% of dividend payers in the Indian market (1.89%).

Stability and Growth of Payments

Stable Dividend: BLS is not paying a notable dividend for the Indian market, therefore no need to check if payments are stable.

Growing Dividend: BLS is not paying a notable dividend for the Indian market, therefore no need to check if payments are increasing.

Earnings Payout to Shareholders

Earnings Coverage: BLS is not paying a notable dividend for the Indian market.

Cash Payout to Shareholders

Cash Flow Coverage: BLS is not paying a notable dividend for the Indian market.

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Management

How experienced are the management team and are they aligned to shareholders interests?

2.6yrs

Average management tenure

CEO

Nikhil Gupta (64 yo)

2.33yrs

Tenure

₹3,500,000

Compensation

Mr. Nikhil Gupta has been Managing Director and Executive Director of BLS International Services Limited since February 01, 2020. Previously, Mr. Gupta was Managing Director of BLS International Services L...

CEO Compensation Analysis

Compensation vs Market: Nikhil's total compensation ($USD44.72K) is below average for companies of similar size in the Indian market ($USD260.99K).

Compensation vs Earnings: Nikhil's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: BLS's management team is considered experienced (2.6 years average tenure).

Board Members

Experienced Board: BLS's board of directors are considered experienced (3.4 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: BLS insiders have sold more shares than they have bought in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/25 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2022/03/31