Brokerage firm Nuwama has given a ‘buy’ call BLS International ServicesIncrease target from 604 on 637 after the Visa service provider announced financial results for the December 11 quarter on 11 February.
Given the line performance under Q3Fy25 and high-to-size margin guidance, we have revised our FY25/FY26 EBITDA estimate above 6%. As a result, we increase our SOTP-based TP from INR604 to INR637. The brokerage firm said to maintain ‘buy’.
BLS International Q3 FY25 Results
The company reported an increase of 43.2% in net profit, reaching 121 crore for third quarter, from top 84.5 crores in the same period last year. The company’s operational revenue increased by 17% 513 crore compared to, 438 crores in the respective quarter of the last financial year.
The company recorded an increase of 78.5% in Ebitda, Q3Fy25 compared to 158.1 crores, 88.6 crores in the same period last year. The Ebitda margin improved by 20.2% year-on-year to 30.8%, supported by a self-managed approach to a partner-manual model and shifted to the inclusion of newly acquired businesses.
By 31 December, 2024, BLS International Services Pure cash left 690 crores after its acquisition in FY 25.
“Its operational performance is align with our estimates. It posted a record high quarterly revenue. As the only listed Indian company in global visa processing and G2C services outsourcing, BLSIN operates a capital light and cash-generating model, which has strong growth capacity. The new visa contract and an extended digital service network may further increase profitability. Its strong track record of the acquisition continues to make its market access and service portfolio broaden, “Nuwama said.
Established in 2005, BLS International Services Ltd. is a reliable global technology-capable service partner for governments and citizens, which visa, passports, cannons, citizens, e-governance, attention, biometric, e-VISA and an imperfect reputation to install benchmarks in the domain of retail services Keeps
