Bls International Services Limited (BLS)

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Bls International Services Limited (BLS) · mywealthgrid

About

BLS operates in leisure and travel services with a group structure generating consolidated quarterly revenue of ₹890.53 Cr and net profit of ₹201.62 Cr (Jun 2026). With an ROE of 32.74% and market cap of ₹11,450.2 Cr, it is positioned as a profitable mid-cap player, though it has declined 30% over the past year.

Face value: ₹1

Market cap

₹8,914 Cr

P/E

12.6×

P/B

3.6×

Dividend yield

1.2%

ROE

32.7%

ROCE

30.1%

Debt / equity

0.09

OPM

27.3%

EPS (TTM)

₹17.1

Book value

₹59.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Stock down 30.1% despite sustained profitability (₹201.62 Cr net profit, ROE 32.74%); verify if valuation compression is cyclical or structural
Consolidated revenue ₹890.53 Cr is 92% from subsidiaries vs ₹69.1 Cr standalone; verify concentration risk in subsidiary performance
FII holding fell from 6.14% to 4.14% between Mar-Jun 2026; assess if institutional capital flight signals concern
Leisure services dependent on discretionary spending; verify economic sensitivity and hedging strategies

Generated analysis · source review pending

Growth drivers

High ROE of 32.74% provides capacity for self-funded expansion; verify reinvestment strategy
Subsidiary model scaled revenue to ₹890.53 Cr (12.9x standalone ₹69.1 Cr); verify acquisition pipeline
Low D/E of 0.09 enables growth financing; verify capital deployment strategy

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹216.5-1.4%1Y

Quick read

rule-based

Pros

+Strong return on equity of 32.8% (3-yr avg)
+High return on capital employed of 31.4%
+Healthy operating margin of 27.3%
+Profit CAGR of 68.8% over the last 5 years
+Revenue CAGR of 44.4% over the last 5 years
+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 35.3×
+High promoter holding of 70.4% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

86/100

Business quality: 91
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	786	478	850	1,516	1,677	2,193	2,998
COGS	550	337	574	1,029	965	986	1,382
Gross profit	236	142	276	488	712	1,207	1,616
	153	102	169	267	366	578	798
	83	40	107	221	346	629	819
OPM %	10.6%	8.3%	12.6%	14.6%	20.6%	28.7%	27.3%
Depreciation	12	9	7	18	31	77	94
Interest	2	1	1	1	3	28	23
	-15	19	15	19	40	81	95
Profit before tax	55	48	114	220	352	606	797
Tax	2	-2	3	16	26	66	73
Tax %	4.5%	-4.1%	2.4%	7.4%	7.5%	10.9%	9.2%
	52	50	111	204	326	540	724
PAT margin %	6.7%	10.5%	13.1%	13.5%	19.4%	24.6%	24.1%
EPS (₹)	5.1	4.9	10.9	4.9	7.6	12.3	16.7
EPS adjusted (₹)	1.3	1.2	2.7	4.9	7.6	12.3	16.7
	19.6%	10.2%	11.5%	15.3%	13.2%	8.1%	15%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	10	10	10	10	41	41	41	41
Reserves	362	418	450	560	762	1,166	1,690	2,422
Minority interest	—	—	0	0	34	234	288	320
	29	0	0	3	0	0	205	231
	74	41	38	60	108	175	582	756
Total equity & liabilities	475	469	498	633	945	1,616	2,806	3,770
	54	41	38	104	234	296	1,363	1,706
CWIP	—	—	—	—	—	0	11	2
Investments	28	29	24	70	88	116	220	352
	393	400	436	459	623	1,205	1,212	1,711
Total assets	475	469	498	633	945	1,616	2,806	3,770

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Visa and consular services	1,840.3	725.12	3,128.68	793.53	2,335.15	31.05
Digital services	1,157.91	95.26

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	30.1%	29.7%	32.5%	32.2%	42.5%	55%	53.9%
EBITDA margin %	10.6%	8.3%	12.6%	14.6%	20.6%	28.7%	27.3%
EBIT margin %	9.1%	6.3%	11.7%	13.4%	18.8%	25.2%	24.2%
PAT margin %	6.7%	10.5%	13.1%	13.5%	19.4%	24.6%	24.1%
Working capital
Receivable days	52	76	10	8	9	20	21
Inventory days	—	0	0	0	1	0	0
Payable days	—	10	12	10	12	36	40
NWC days	—	66	-2	-2	-2	-16	-19
Leverage
Current ratio	10.18	11.84	7.26	5.68	7.7	2.34	2.91
Debt to EBITDA	0	0	0.03	0	0	0.32	0.28
Debt to equity	0	0	0.01	0	0	0.12	0.09
Interest coverage	52.7	90.6	171.1	334	136.9	22.8	35.3
Asset turnover	1.68	0.96	1.34	1.6	1.04	0.78	0.8
Return ratios
Return on assets %	11.2%	10.1%	17.6%	21.6%	20.1%	19.2%	19.2%
Return on capital employed %	19.5%	10.9%	22%	31.4%	30.6%	33.4%	30.1%
Return on equity %	12.2%	10.9%	19.5%	25.4%	27%	31.2%	29.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.52%	71.52%	71.52%	71.52%	70.38%	70.38%	70.38%	70.39%	70.39%	70.39%	70.39%	70.39%
	7.66%	7.55%	7.67%	7.39%	8.96%	10.94%	9.94%	8.53%	6.82%	6.37%	6.14%	4.14%
	0.07%	0.89%	1.05%	1.35%	1.72%	1.37%	2.26%	2.87%	2.9%	2.93%	2.99%	3.1%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	20.49%	19.93%	19.66%	19.67%	18.87%	17.26%	17.38%	18.18%	19.88%	20.29%	20.43%	22.33%
No. of shareholders	—	—	—	—	—	—	—	—	2,08,792	2,10,222	2,18,959	2,23,624

Promoter holding down 1.13 percentage points since Sep 2023.

60 deals · 3 Aug 2021 – 24 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Mar 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	65,24,212	₹251.99	₹164.40 Cr
24 Mar 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	65,24,212	₹251.86	₹164.32 Cr
24 Mar 2026	JUMP TRADING FINANCIAL INDIA PRIVATE LIMITED	Bulk	NSE	Sell	26,01,293	₹252.28	₹65.63 Cr
24 Mar 2026	JUMP TRADING FINANCIAL INDIA PRIVATE LIMITED	Bulk	NSE	Buy	26,01,293	₹251.87	₹65.52 Cr
24 Mar 2026	QE SECURITIES LLP	Bulk	NSE	Buy	23,48,239	₹251.13	₹58.97 Cr
24 Mar 2026	QE SECURITIES LLP	Bulk	NSE	Sell	23,43,010	₹250.97	₹58.80 Cr
24 Mar 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	21,79,801	₹251.74	₹54.87 Cr
24 Mar 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	20,57,060	₹251.64	₹51.76 Cr
17 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	21,19,981	₹330.38	₹70.04 Cr
17 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	21,19,550	₹330.66	₹70.09 Cr

1–10 of 60

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Mr. DIWAKAR AGGARWALExecutive Director-Chairperson related to Promoter
Mr. SHIKHAR AGGARWALExecutive Director-MD
Mr. KARAN AGGARWALNon-Executive - Non Independent Director
Mr. NIKHIL GUPTAExecutive Director-MD
Mr. RAM SHARAN PRASAD SINHANon-Executive - Independent Director
Mr. SARTHAK BEHURIANon-Executive - Independent Director
Mr. ATUL SEKSARIANon-Executive - Independent Director
Mrs. SAVITANon-Executive - Independent Director
Mr. Amit SudhakarChief Financial Officer
Mr. Dharak A. MehtaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 9 fund houses

Held by these funds

0.22%

of the company's equity

All mutual funds

0.43%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

31 schemes · 9 fund houses

		Shares
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	1.93 L	4.64	0.13%	0.047%	+2,360
Nifty Smallcap250 Quality 50 Index Fund	DSP Mutual Fund	1.66 L	4	1.26%	0.04%	-154
NIFTY INDIA TOURISM INDEX FUND	Tata Mutual Fund	1.46 L	3.51	1.33%	0.035%	-4,128
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	98,127	2.36	0.13%	0.024%	+1,097
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	71,133	1.71	0.13%	0.017%	+646
Nifty 500 Equal Weight Index Fund	Nippon India Mutual Fund	45,053	1.08	0.2%	0.011%	+23
Nifty Smallcap 250 Index Fund	ICICI Prudential Mutual Fund	43,284	1.04	0.13%	0.011%	+880
Portfolio of Kotak Nifty India Tourism Index Fund	Kotak Mahindra Mutual Fund	20,675	0.5	1.33%	0.005%	-161

1–8 of 31

1 / 4

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

17

Final dividend16 Sept 2026 · ex-date₹0.5
Interim dividend13 Feb 2026 · ex-date₹2
Final dividend8 Sept 2025 · ex-date₹1
Final dividend5 Sept 2024 · ex-date₹0.5
Interim dividend23 Feb 2024 · ex-date₹0.5
Final dividend14 Sept 2023 · ex-date₹0.25
Interim dividend17 Feb 2023 · ex-date₹0.5
Final dividend13 Sept 2022 · ex-date₹0.25
Interim dividend11 Feb 2022 · ex-date₹1
Final dividend16 Sept 2021 · ex-date₹0.25
Interim dividend11 Feb 2021 · ex-date₹0.25
Final dividend11 Sept 2020 · ex-date₹0.5
Interim dividend13 Feb 2020 · ex-date₹0.5
Final dividend18 Sept 2019 · ex-date₹1
Final dividend11 Sept 2018 · ex-date₹0.5
Final dividend12 Sept 2017 · ex-date₹0.3
Interim dividend23 Nov 2016 · ex-date₹0.5

1

Board meeting to consider results7 Aug 2026

1

Face value ₹10 → ₹126 Apr 2017 · ex-date

1–3 of 4

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

28 announcementsExport CSV

29 Sept 2026, 8:05 pmCompany Update

Intimation Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 For Change In Statutory Auditors Of Step Down Subsidiary Of The Company

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	30.1%	29.7%	32.5%	32.2%	42.5%	55%	53.9%
EBITDA margin %	10.6%	8.3%	12.6%	14.6%	20.6%	28.7%	27.3%
EBIT margin %	9.1%	6.3%	11.7%	13.4%	18.8%	25.2%	24.2%
PAT margin %	6.7%	10.5%	13.1%	13.5%	19.4%	24.6%	24.1%
Working capital
Receivable days	52	76	10	8	9	20	21
Inventory days	—	0	0	0	1	0	0
Payable days	—	10	12	10	12	36	40
NWC days	—	66	-2	-2	-2	-16	-19
Leverage
Current ratio	10.18	11.84	7.26	5.68	7.7	2.34	2.91
Debt to EBITDA	0	0	0.03	0	0	0.32	0.28
Debt to equity	0	0	0.01	0	0	0.12	0.09
Interest coverage	52.7	90.6	171.1	334	136.9	22.8	35.3
Asset turnover	1.68	0.96	1.34	1.6	1.04	0.78	0.8
Return ratios
Return on assets %	11.2%	10.1%	17.6%	21.6%	20.1%	19.2%	19.2%
Return on capital employed %	19.5%	10.9%	22%	31.4%	30.6%	33.4%	30.1%
Return on equity %	12.2%	10.9%	19.5%	25.4%	27%	31.2%	29.4%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Tbo Tek LimitedTBOTEKTBOTEK	₹18,152 Cr	₹18,798 Cr	₹3,092 Cr	₹432 Cr	13.8%	₹265 Cr	9.1%	18.5%	17.8%	-133
Bls International Services LimitedBLSBLS	₹8,914 Cr	₹9,144 Cr	₹3,178 Cr	₹867 Cr	27.3%	₹706 Cr	24.1%	30.1%	32.7%	-19
Le Travenues Technology LimitedIXIGOIXIGO	₹7,103 Cr	₹7,127 Cr	₹1,265 Cr	₹72 Cr	5.9%	₹87 Cr	5.8%	7.6%	5.4%	-47
Thomas Cook (India) LimitedTHOMASCOOKTHOMASCOOK	₹4,737 Cr	₹5,014 Cr	₹8,082 Cr	₹394 Cr	5.1%	₹219 Cr	2.6%	12.7%	9.1%	-137
Easy Trip Planners LimitedEASEMYTRIPEASEMYTRIP	₹2,295 Cr	₹2,327 Cr	₹557 Cr	₹-29 Cr	-2.8%	₹-52 Cr	-8.9%	0.8%	-5.2%	-4,782
Yatra Online LimitedYATRAYATRA	₹1,551 Cr	₹1,622 Cr	₹985 Cr	₹70 Cr	8%	₹31 Cr	4.7%	7.6%	5.8%	109
Waterways Leisure Tourism LimitedCORDELIACORDELIA	₹731 Cr	₹780 Cr	₹591 Cr	—	—	₹168 Cr	28.5%	-62.6%	513.1%	-23
Mach Travel Solutions LtdMACHLTDMACHLTD	₹407 Cr	—	₹217 Cr	₹21 Cr	9.7%	₹17 Cr	7.7%	—	—	—
International Travel House LtdITHLITHL	₹226 Cr	₹226 Cr	₹59 Cr	₹-38 Cr	14.7%	₹-45 Cr	8%	17.6%	10.7%	11
Trade Wings LtdTRADWINTRADWIN	₹138 Cr	₹156 Cr	₹262 Cr	₹-1 Cr	-0.2%	₹2 Cr	0.9%	44.8%	—	12
Yaan Enterprises LtdYAANENTYAANENT	₹51 Cr	₹57 Cr	₹2 Cr	₹-0 Cr	5.7%	₹-3 Cr	3.2%	24.5%	15.8%	117
Helloji Holidays LtdHELLOJIHELLOJI	₹40 Cr	—	₹28 Cr	₹1 Cr	5.4%	₹1 Cr	4.5%	—	—	—

Date	Category	Subject	Filing
29 Sept 2026, 8:05 pm	Company Update General	Intimation Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 For Change In Statutory Auditors Of Step Down Subsidiary Of The Company	PDF
29 Sept 2026, 12:06 am	Company Update Restructuring	Announcement under Regulation 30 (LODR)-Restructuring	PDF
17 Sept 2026, 3:58 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
11 Sept 2026, 6:57 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
30 Aug 2026, 10:07 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
29 Aug 2026, 11:25 pm	Company Update General	Intimation Under Regulation 30 And 36(1)(B) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') - Letter To Shareholders For Annual Report Web-Link	PDF
29 Aug 2026, 10:39 pm	Corp. Action Record Date	Intimation Of Record Date Pursuant To Regulation 42 Of Securities & Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
29 Aug 2026, 10:29 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	45	185	261	350	829	903
	-22	-172	-238	-260	-1,119	-446
	-9	-12	7	257	158	-246
Net cash flow	13	2	30	347	-131	211
Free cash flow	40	118	226	286	668	766
CFO / Operating profit %	113.4%	173.3%	117.9%	101.2%	131.7%	110.3%

Bls International Services Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

17

1

1

Announcements

Not in the F&O segment

17

1

1

Announcements

Annual reports

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Digital Services · revenue

Bls International Services Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Dividends17

Board meetings1

Stock splits1

Announcements

Not in the F&O segment

Dividends17

Board meetings1

Stock splits1

Ratio timeline

Announcements

Annual reports

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Digital Services · revenue

17

1

1

17

1

1