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BLS International Services is a small-cap stock with a market cap of ₹4,311.1 crore. The company is engaged in the business of providing outsourcing and administrative tasks of visa, passport, and consular services to various diplomatic missions across the world. It also provides citizen services to state and provincial governments across Asia, Africa, Europe, South America, North America and the Middle East.
BLS International partners with 46 client governments in the provision of outsourced visa and passport, front end and citizen, consular and passport, verification and attestation, and E-Visa services, its website shows.
BLS International recently signed a contract with the Royal Thai Embassy on July 5, 2022, to perform visa services in Kenya. BLS has initiated accepting visa applications on behalf of the Royal Thai Embassy from July 1, 2022.
In addition to that, the company has announced the signing of an agreement with the Government of Karnataka's Directorate of Electronic Delivery of Citizen Services (Department of Administrative Reforms) (e-governance), to provide currently available 798 government services from 78 different government agencies and departments via the SEVA SINDHU PORTAL by establishing Grama One Centres at the Gram Panchayat level.
Share price history
Despite the market's volatility, BLS International services have been a multi-bagger in 2022, generating a return of more than 124 per cent.
In one year, the stock has risen from ₹66.78 to ₹211.35 levels, generating a multi-bagger return of 217% while the Sensex has only increased by 1.14 per cent. Further, over the last three years, the market price of the stock has zoomed by 466.04 per cent.
The stock's 52-week high and low levels were Rs. 220 apiece and Rs. 64 apiece, respectively. Using the current price, the stock has risen 228.12 per cent since its 52-week low.
On the technical charts stock is trading 55.10 per cent above its 200 DMA. On the other hand, the Relative Strength Index (RSI) of the stock stands at 63.3. (RSI oscillates between zero and 100. (Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.)
Financials
BLS International Services' net profit increased by 50.12 per cent year on year (YoY) to ₹35.3 crore in the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of ₹23.5 crore.
Revenue from operations increased by 69.54% year on year to ₹258.9 crore, from ₹152.7 crore in the previous quarter.
For the full fiscal ended March 2022, operational revenue stood at ₹864.8 crore in FY22, up by 74.0% from ₹497 crore in FY21. Net profit jumped to ₹114 crore in FY22, up by 135.53 per cent compared to ₹48.4 crore in FY21.
The company's Return on Equity (ROE) in FY22 increased to 19.52 per cent, as against 10.90% in FY21.
Deals
As reported by PTI, on Monday, global financial services firm Nomura Singapore bought 12.5 lakh shares in the company at an average price of ₹214/share aggregating ₹26.75 crore.
FIIs have been bullish on the company for a long time. This is clear given their increased exposure to the stock over the last four quarters. FIIs held a stake of 1.2% back in March 2021. The exposure now stands at 3.9%. The majority of the increase happened in the most recent quarter.
In June 2022, BLS International Services acquired Zero Mass Private Limited for Rs. 120 crores. ZMPL operates the largest BC network for the State Bank of India (SBI), with approximately 11,500 active CSPs (approximately 15% of all SBI BCs). Apart from SBI, ZMPL has contracts with Utkal Grameen Bank and Karur Vysya Bank, Business Standard reported.
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