BLS International Services Ltd Share Price – NSE  / BSE

IT - Software, Small Cap

The Board of BLS International Services at its meeting held on 30 August 2024 has approved to enter into the share purchase agreement to acquire 5,100 equity share i.e. 51% share capital of SLW Media (SLW), a company incorporated under the law of Companies Act 1956. Consequent to the said acquisition of 5,100 share capital of SLW, it will become a subsidiary of the company (SLW-S).

This strategic move will enhance the brand equity of the company at a global scale into the rapidly growing sports and leisure sector.

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BLS International Services announced that the 40th Annual General Meeting (AGM) of the company will be held on 12 September 2024.

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The frontline indices traded in a narrow range with substantial gains in early afternoon trade. The Nifty traded above the 24,200 level. Media shares advanced after declining in the previous three consecutive trading sessions.

At 12:26 IST, the barometer index, the S&P BSE Sensex, was up 545.01 points or 0.69% to 79,304.41. The Nifty 50 index added 167.45 points or 0.70% to 24,223.05.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index advanced 1.29% and the S&P BSE Small-Cap index gained 1.32%.

The market breadth was strong. On the BSE, 2,584 shares rose and 1,214 shares fell. A total of 116 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 11.53% to 18.02.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 11.95% to 17.93. The Nifty 29 August 2024 futures were trading at 24,270, at a premium of 46.95 points as compared with the spot at 24,223.05

The Nifty option chain for the 29 August 2024 expiry showed maximum Call OI of 36 lakh contracts at the 25,000 strike price. Maximum Put OI of 41.7 lakh contracts were seen at 24,000 strike price.

Buzzing Index:

The Nifty Media index gained 2.41% to 2,052.55. The index fell 6.88% in past three consecutive trading sessions.

Network 18 Media & Investments (up 7.53%), Saregama India (up 4.71%), TV18 Broadcast (up 3.12%), Zee Entertainment Enterprises (up 2.92%), Nazara Technologies (up 2.2%), Tips Industries (up 2.06%), Dish TV India (up 1.68%), PVR Inox (up 0.63%), Hathway Cable & Datacom (up 0.28%) and Sun TV Network (up 0.05%) advanced.

Stocks in Spotlight :

BLS International Services surged 7.99% after the company’s consolidated net profit jumped 70.16% to Rs 120.78 crore in Q1 FY25 as compared with Rs 70.98 crore in Q1 FY24. Revenue from operations jumped 28.47% YoY to Rs 492.66 crore during the quarter.

AXISCADES Technologies jumped 6.62% after the company reported a net profit of Rs 17 crore in Q1 FY25, which is nearly three times as compared with the PAT of Rs 6 crore recorded in Q1 FY24. Revenue from operations amounted to Rs 223 crore for the quarter, up 4.5% YoY.

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Revenue from operations jumped 28.47% YoY to Rs 492.66 crore during the quarter, the growth was mainly driven by the Visa & Consular business which witnessed a robust growth of 35.9% YoY in revenue.

Profit before tax (PBT) stood at Rs 134.70, up 67.47% as compared with Rs 80.43 crore posted in Q1 FY24.

During the quarter, EBITDA jumped 67.47% to Rs 134.70 crore as against Rs 80.43 crore recorded in the first quarter of FY24. EBITDA margin expanded by 615 bps to 27% during the quarter as compared with 20.9% in Q1 FY24.

Revenue from Visa & Consular Business witnessed 35.9% growth to Rs 414.1 crore in Q1 FY25 as compared with Rs 304.8 crore in Q1 FY24. The said business contributes around 85% of the total revenue.

During the quarter, no. of visa applications increased by 18.0% to 8.50 lakhs.

Revenue from digital business fell marginally YoY to Rs 78.5 crore during the quarter. EBITDA of the digital business grew by 30.7% YoY to Rs. 11.9 crore during the quarter from Rs 9.1 crore in Q1FY24 and margin expanded to 15.2% against 11.6% recorded in Q1FY24. The said business contributes approximately 16% of the total revenue.

BLS International Services is global tech-enabled services partner for governments and citizens. It operates in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa, and retail services since 2005. The company works with over 46 client governments including diplomatic missions, embassies & consulates and leverages technology and processes that ensure data security.

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