Bls E-Services Limited (BLSE)

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Bls E-Services Limited (BLSE) · mywealthgrid

About

Bls E-Services Limited operates in IT-enabled services within the Information Technology sector. With a market cap of ₹2,856.53 Cr and consolidated quarterly revenue around ₹300 Cr, the company generates steady net profitability of ₹15–18 Cr per quarter. It operates dual business bases: a smaller standalone unit (₹18–26 Cr quarterly) achieving 12–14% margins, and a larger consolidated business (₹270–323 Cr quarterly) at 6–7% margins.

Face value: ₹10

Market cap

₹2,927 Cr

P/E

50.4×

P/B

5.6×

Dividend yield

0.3%

ROE

11.4%

ROCE

17%

Debt / equity

OPM

6.7%

EPS (TTM)

₹6.4

Book value

₹57.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Thin consolidated margins (6.7% OPM) create vulnerability to cost inflation or pricing pressure; verify customer concentration and pricing power in key contracts.
High valuation (PE 49.15x) limits upside if earnings growth decelerates; compare against historical and peer multiples.
Minimal institutional investment (FII 0.64%, DII 0.02%) indicates low analyst coverage and potential liquidity constraints.
Consolidated revenue shows no growth trend over eight quarters (₹270–323 Cr range); clarify whether this reflects market saturation, execution gaps, or strategic choice.

Generated analysis · source review pending

Growth drivers

Consolidated OPM (6.7%) materially trails standalone segment (12–14%); closing this efficiency gap on the ₹300+ Cr quarterly revenue base would drive significant operating leverage. Verify root causes of divergence.
Zero debt (D/E = 0) and quarterly net profit of ₹15–18 Cr with regular dividends (Feb 2026, Sep 2025) indicate cash generation; verify whether capital is redeployed for growth investment or returned to shareholders permanently.
Standalone segment's 12–14% OPM demonstrates operational capability; investigate whether cost structure, service mix, or pricing model from standalone can be applied to consolidated business.

Generated analysis · source review pending

652 historical price candles were omitted because the exchange source has not been verified.

₹322.1+0.3%1Y

Quick read

rule-based

Pros

+Profit CAGR of 41.4% over the last 3 years
+Revenue CAGR of 66.3% over the last 3 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 139.7×
+High promoter holding of 71.9% with no pledge

Cons

−Thin operating margin of 6.7%

Research score

Structured signal from quality, growth, valuation and momentum.

53/100

Business quality: 54
Growth: 83
Valuation

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.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
L&T Technology Services LimitedLTTSLTTS	₹34,671 Cr	₹34,671 Cr	₹11,701 Cr	₹2,074 Cr	17.6%	₹1,320 Cr	11.7%	24.9%	20.4%	29
Inventurus Knowledge Solutions LimitedIKSIKS	₹30,483 Cr	₹31,124 Cr	₹3,347 Cr	₹1,149 Cr	34.2%	₹764 Cr	22.6%	33.8%	31.4%	39
Tata Technologies LimitedTATATECHTATATECH	₹28,378 Cr	₹29,044 Cr	₹5,926 Cr	₹920 Cr	15.5%	₹557 Cr	9.9%	19.3%	14.6%	33
Netweb Technologies India LimitedNETWEBNETWEB	₹25,721 Cr	—	₹724 Cr	₹103 Cr	14.2%	₹76 Cr	10.5%	—	—	—
Affle 3i LimitedAFFLEAFFLE	₹20,410 Cr	₹20,422 Cr	₹2,836 Cr	₹638 Cr	22.5%	₹478 Cr	16.8%	16.9%	13.8%	-51
Sagility LimitedSAGILITYSAGILITY	₹20,209 Cr	₹21,320 Cr	₹7,617 Cr	₹1,849 Cr	24.5%	₹993 Cr	12.9%	13.3%	10.3%	78
Esds Software Solution LimitedESDSESDS	₹16,809 Cr	—	₹208 Cr	₹47 Cr	22.9%	₹-22 Cr	-10.8%	0.8%	-10.9%	—
Black Box LimitedBBOXBBOX	₹14,134 Cr	₹14,961 Cr	₹6,654 Cr	₹614 Cr	9%	₹226 Cr	3.4%	21.7%	21.3%	-10
E2e Networks LimitedE2EE2E	₹13,323 Cr	₹13,482 Cr	₹366 Cr	₹234 Cr	51.4%	₹31 Cr	-6.3%	-0.5%	-1%	-45
Cyient LimitedCYIENTCYIENT	₹12,272 Cr	₹12,438 Cr	₹7,632 Cr	₹944 Cr	12.5%	₹378 Cr	6.4%	12.4%	7.8%	119
Amagi Media Labs LimitedAMAGIAMAGI	₹11,984 Cr	₹11,984 Cr	₹1,506 Cr	₹50 Cr	3.4%	₹72 Cr	4.8%	5.2%	4.1%	40
Emudhra LimitedEMUDHRAEMUDHRA	₹4,802 Cr	₹4,826 Cr	₹745 Cr	₹174 Cr	22.7%	₹115 Cr	15.7%	14.9%	13%	36

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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 2023	Mar 2024	Mar 2025	Mar 2026
	243	301	519	1,118
COGS	162	208	401	981
Gross profit	81	94	118	137
	48	52	58	62
	33	42	60	75
OPM %	13.6%	13.9%	11.6%	6.7%
Depreciation	3	3	6	6
Interest	4	1	1	1
	1	8	26	25
Profit before tax	27	46	79	93
Tax	7	12	21	24
Tax %	24.7%	26.6%	26.2%	25.5%
	20	34	58	69
PAT margin %	8.4%	11.1%	11.2%	6.2%
EPS (₹)	3	4.4	5.8	6.3
EPS adjusted (₹)	3.1	3.5	5.8	6.3
	0%	0%	17.3%	15.8%
Annual report	—	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	0	67	91	91	91
Reserves	—	40	340	392	432
Minority interest	—	5	7	36	47
	—	0	0	0	0
	—	68	72	154	192
Total equity & liabilities	—	179	510	672	762
	7	88	93	148	180
CWIP	—	—	0	11	15
Investments	—	0	15	110	126
	—	92	402	404	441
Total assets	—	179	510	672	762

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	29	20	67	51
	-66	-295	-23	-14
	46	290	-4	-19
Net cash flow	10	15	40	17
Free cash flow	28	15	54	42
CFO / Operating profit %	87.3%	47%	111.3%	67.7%

Compounded sales growth

7 years: —
5 years: —
3 years: 66%
1 year: 115%

Compounded profit growth

7 years: —
5 years: —
3 years: 51%
1 year: 19%

Return on equity

7 years: —
5 years: —
3 years: 10%
Last year: 12%

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	33.5%	31.1%	22.7%	12.3%
EBITDA margin %	13.6%	13.9%	11.6%	6.7%
EBIT margin %	12.5%	12.8%	10.4%	6.1%
PAT margin %	8.4%	11.1%	11.2%	6.2%
Working capital
Receivable days	27	30	66	39
Inventory days	1	3	0	0
Payable days	6	6	50	31
NWC days	23	28	17	8
Leverage
Current ratio	1.1	4.69	2.06	2.85
Debt to EBITDA	0	0	0	0
Debt to equity	0	0	0	0
Interest coverage	8.5	54.8	106.5	139.7
Asset turnover	1.35	0.59	0.77	1.47
Return ratios
Return on assets %	11.3%	6.6%	8.7%	9.1%
Return on capital employed %	29%	16.6%	16.5%	17%
Return on equity %	19%	7.8%	12.1%	13.3%

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 (%)	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	68.89%	68.89%	68.89%	68.89%	68.89%	68.89%	68.89%	68.89%	68.89%	69.81%	71.87%
	11.88%	9.27%	5.69%	1.42%	0.78%	0.42%	0.25%	0.21%	0.99%	0.45%	0.64%
	3.84%	0.01%	0.01%	0.01%	0.02%	0.02%	0%	0%	0.11%	0.01%	0.02%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	15.39%	21.83%	25.41%	29.68%	30.31%	30.67%	30.86%	30.9%	29.79%	29.51%	27.24%
No. of shareholders	—	—	—	—	—	—	—	86,689	78,587	76,520	69,588

Promoter holding up 2.98 percentage points since Dec 2023.

73 deals · 6 Feb 2024 – 24 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Jul 2026	PLASTOMATIC PACKAGING PRIVATE LIMITED	Bulk	NSE	Sell	6,11,480	₹278.18	₹17.01 Cr
24 Jul 2026	PLASTOMATIC PACKAGING PRIVATE LIMITED	Bulk	NSE	Buy	6,11,480	₹277.14	₹16.95 Cr
10 Dec 2025	KURJIBHAI PREMJIBHAI RUPARELIYA	Bulk	NSE	Buy	6,00,000	₹209.08	₹12.54 Cr
17 Nov 2025	PARNIT VENTURES PRIVATE LIMITED	Bulk	NSE	Sell	5,72,660	₹219.93	₹12.59 Cr
17 Nov 2025	PARNIT VENTURES PRIVATE LIMITED	Bulk	NSE	Buy	5,72,660	₹218.95	₹12.54 Cr
7 Nov 2025	PRAS INVESTMENT PRIVATE LIMITED	Bulk	NSE	Sell	5,78,465	₹201.22	₹11.64 Cr
7 Nov 2025	PRAS INVESTMENT PRIVATE LIMITED	Bulk	NSE	Buy	5,78,465	₹200.56	₹11.60 Cr
3 Nov 2025	SW CAPITAL PRIVATE LIMITED	Bulk	NSE	Sell	8,00,947	₹197.53	₹15.82 Cr
3 Nov 2025	SW CAPITAL PRIVATE LIMITED	Bulk	NSE	Buy	8,00,947	₹196.53	₹15.74 Cr
3 Nov 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	6,87,724	₹198.96	₹13.68 Cr

1–10 of 73

1 / 8

Mr. Shikhar AggarwalNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Diwakar AggarwalNon-Executive - Non Independent Director
Mr. Rahul SharmaExecutive Director
Mr. Ram Prakash BajpaiNon-Executive - Independent Director
Mr. Rakesh Mohan GargNon-Executive - Independent Director
Mr. Manoj JoshiNon-Executive - Independent Director
Ms. Shivani MishraNon-Executive - Independent Director
Mrs. Neha BaidCompany 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.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Bls E-Services Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

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

Announcements

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Events

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

3

Final dividend8 Sept 2026 · ex-date₹0.5
Interim dividend13 Feb 2026 · ex-date₹0.5
Final dividend8 Sept 2025 · ex-date₹1

1

Board meeting to consider results6 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

34 announcementsExport CSV

29 Sept 2026, 6:45 pmCompany Update

Intimation Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 Regarding Change In Statutory Auditors Of Atyati Technolgies Private Limited, A Material Subsidiary Of The Company.

General PDF

29 Sept 2026, 12:04 amCompany Update

Announcement under Regulation 30 (LODR)-Restructuring

Restructuring PDF

18 Sept 2026, 6:19 pmCorp. Action

Intimation Of Record Date For Sub-Division/Split Of Equity Shares Of The Company

Record Date PDF

16 Sept 2026, 7:01 pmCompany Update

Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association

Amendments to Memorandum & Articles of Association PDF

16 Sept 2026, 6:47 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

15 Sept 2026, 4:59 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

22 Aug 2026, 4:40 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

21 Aug 2026, 9:38 pmCompany Update

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

General PDF

Date	Category	Subject	Filing
29 Sept 2026, 6:45 pm	Company Update General	Intimation Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 Regarding Change In Statutory Auditors Of Atyati Technolgies Private Limited, A Material Subsidiary Of The Company.	PDF
29 Sept 2026, 12:04 am	Company Update Restructuring	Announcement under Regulation 30 (LODR)-Restructuring

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Bls E-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

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends3

Board meetings1

Announcements

Not in the F&O segment

Ratio timeline

No fund holdings on record

Dividends3

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

1

3

1