| Management target | Revenue 20.0% FY30 |
|---|
| Revenue growth | Q2 revenue ₹973 Cr, +32% YoY; record quarter, digital-aided. |
|---|---|
| Margins | Consolidated EBITDA margin 25.5% vs 28.9%; visa 41.9%, digital 7.4%. |
| Order book | Recent wins cited (Portugal, Poland, Germany); no order book value given. |
| Demand visibility | Seasonal Q2 dip; Middle East tensions; tender wins pending finalisation. |
| Management confidence | Balanced; confident on growth, deflects valuation and buyback questions. |
Growth
Revenue +32% YoY, with digital +66% (includes Atyati) and visa +11%. Digital's low margin is diluting the group margin.
Outlook
FY30 targets: revenue ₹6,300–6,500 Cr, 20–25% annual growth, EBITDA margin 28–30%. No FY27 guidance was raised.
Risks
Application volumes down ~3% YoY, with management citing Middle East tensions. A shift to e-visa could lower per-application revenue. Media allegations on Spain and Slovakia remain.
Last quarter's promises, checked
Delivered
- 15–20% organic growth → revenue +32% incl. Atyati, organic split n/a (= BEAT)
- Visa EBITDA margin ~40% → 41.9% (= BEAT)
Partly delivered
- Visa revenue growth 10–15% → +11% (= PARTIAL)
- Application volumes 'broadly stable' → down ~3% YoY (= PARTIAL)
Missed
- Consolidated EBITDA margin 28.3% held → 25.5% (= MISS)
- Digital EBITDA margin ~8.0% held → 7.4% (= MISS)
- Digital EBITDA growth ~1.5x revenue pace → ~1.0x (EBITDA +67% vs revenue +66%) (= MISS)
Earnings Call Transcript filed with NSE, NSE: BLS. Summary written with AI assistance from the document.
BLS International Services Ltd: key numbers
- Share price
- ₹216.85
- Market cap
- ₹8,929 Cr
- Revenue (annual)
- ₹2,998 Cr
- Net profit (annual)
- ₹686.7 Cr
- P/E (TTM)
- 12.5×Sector 34.6×
- Promoter holding
- 70.41%+0.02% QoQ
- FII holding
- 3.88%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from BLS International Services Ltd
All →BLS International Services Investor Presentation: Key Takeaways
Q2 FY27 consolidated revenue Rs 972.7 Cr (+32.0% YoY), EBITDA Rs 248.1 Cr (+16.6%), PAT Rs 201.7 Cr (+8.6%). H1 revenue Rs 1,863.2 Cr (+28.7%). FY30 revenue target Rs 6,300-6,500 Cr.
- Call
- Guides 20% growth
BLS International Services Results Update
BLS International reported record Q2 FY27 revenue of Rs 973 Crore, up 32% year-on-year. H1 FY27 revenue rose 28.7% to Rs 1,863 Crore.
BLS International Services Q2 FY27 Results: Net Profit ₹201.7 Cr, Up 8.6% YoY
BLS International Services Ltd reported revenue from operations of ₹972.7 Cr (+32.1% YoY) and net profit of ₹201.7 Cr (+8.6% YoY) for Q2 FY27.
- Key figure
- Net profit ₹201.7 Cr · +8.6% YoY
BLS International Services Board Meeting Date
BLS International schedules a 3 November 2026 board meeting to consider unaudited standalone and consolidated results for the quarter ended September 2026. No amounts are proposed.
BLS International Services Other Announcement
The company filed its quarterly shareholding pattern under Regulation 31(1)(b) for the quarter ended September 30, 2026.
BLS International Services Price Movement Clarification
BLS International Services Limited clarified that it has no undisclosed material information regarding the recent increase in trading volume. The company confirmed it is not aware of any specific reason for the market activity.