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BLS E-Services Limited Investor Presentation 2026
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Investor Presentation
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BLS E-SERVICES
www.blseservices.com
May 18, 2026
| To, National Stock Exchange of India Ltd., Exchange Plaza, C-1 Block G, Bandra Kurla Complex Bandra [E], Mumbai – 400051 | To, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai -400 001 |
|---|---|
| NSE Scrip Symbol: BLSE | BSE Scrip Code: 544107 |
Subject: Investor Presentation
Dear Sir / Madam,
Pursuant to Regulation 30 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed an Investor Presentation with respect to Audited financial results of the Company for the fourth quarter and year ended March 31, 2026.
You are requested to take the same on your records.
For BLS E-Services Limited
Neha Baid
Digitally signed by
Neha Baid
Date: 2026.05.18
21:09:48 +05'30'
Neha Baid
Company Secretary and Compliance Officer
ICSI Membership No.-A33753
BLS E-SERVICES LIMITED (Erstwhile BLS E-Services Private Limited)
Corporate Office : Plot No. 865, Udyog Vihar, Phase - V, Gurugram, Haryana -122016
Regd. Office: G-4B-1, Extension Mohan Co-operative Indl. Estate, Mathura Road, New Delhi - 110044 (India)
:[email protected] :+91-11-45795002 :+91-11-23755264
CIN - L74999DL2016PLC298207
BLS E-SERVICES
BLS E-SERVICES LIMITED
Investor Presentation
Q4FY26 & FY26
BSE: 544107 | NSE: BLSE
Safe Harbor
BLS E-SERVICES
This Presentation and the accompanying slides (the "presentation"), have been prepared by BLS E-Services Limited (the "Company"), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this presentation. This presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from this Presentation is expressly excluded.
This presentation contains certain forward-looking statements concerning the Company's future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward-looking statements become materially incorrect in future or update any forward-looking statements made from time to time by or on behalf of the Company.
CONTENTS
- Q4FY26 & FY26 Performance Highlights
- Company Overview
- Key Strengths
- Key Investment Highlights
- Historical Financial Highlights
- Annexures
Q4FY26 & FY26 Performance Highlights
Results Snapshot – FY26
BLS
E-SERVICES
| FY26 Total Income at
Rs. 1,143 Crores
Up 109.7% | FY26 EBITDA* at
Rs. 100 Crores
(8.7% Margin)
Up 16.0% | FY26 PAT at
Rs. 69 Crores
Up 17.8% |
| --- | --- | --- |
| Gross Transaction Value ^ at
Rs. 1,11,000+ Crores
Up 27.3% | Distributed Loans worth
Rs. 36,800+ Crores
Up 213.8% | Net Cash at
Rs. 400+ Crores
As on 31st March, 2026 |
^ Gross Transaction Value includes value of loans distributed
- EBITDA includes Other Income
Results Snapshot – Q4FY26
BLS E-SERVICES
Total Income at
Rs. 329 Crores
Up 34.1%
EBITDA* at
Rs. 26 Crores
(7.9% Margin)
PAT at
Rs. 18 Crores
(5.6% Margin)
Gross Transaction Value ^ at
Rs. 31,000+ Crores
Up 13.1%
Distributed Loans worth
Rs. 12,000+ Crores
Up 45.8%
Total BCs / CSPs
45,800+
^ Gross Transaction Value includes value of loans distributed
- EBITDA includes Other Income
BLS E-SERVICES
Key Business Updates – FY26
No. of touchpoints increased to 1,55,000+ in FY26 as compared to 1,42,000+ in FY25
Business Correspondents CSPs increased to 45,800+ as on 31st March 2026 as compared to 44,800+ as on 31st March 2025.
Gross Transaction Value^ for FY26 stood at Rs. 1,11,000+ Crores compared to Rs. 87,000+ Crores in FY25
Facilitated loan distribution of Rs. 36,800+ Crores in FY26 as compared to Rs. 11,700+ Crores in FY25
- During the year, achieved over Rs. 10,000 Crores in aggregate balances across Financial Inclusion accounts
-
Deployed over 10,000 GPS devices to enhance tracking and security
-
Executed Phase III of CSP Plus project in partnership with SBI & Govt. of Odisha
- Aadhar enrolment service in eMitra project in Rajasthan
- Project in Chhattisgarh for Digitisation of Sub-Registrar offices for Land Record Registrations
- Worked with UPPCL for bill collection under OTS scheme
During Q4FY26, BLSe signed a binding term sheet to acquire 100% stake in Atyati Technologies Private Limited (“Atyati”), one of the largest companies operating over 25,900 CSPs and provides technology platforms for financial inclusion, focusing on rural banking, last-mile agent banking, and doorstep banking services; the said acquisition is expected to be consummated by 31 July 2026, subject to certain regulatory /lender approvals, as applicable and completion of Conditions Precedents.
^Gross Transaction Value includes value of loans distributed
BLS E-SERVICES
Consolidated Financial Highlights – FY26 vs FY25
in Rs. Crores
Total Income & YoY Growth (%)
EBITDA* & YoY Growth (%)
PAT & YoY Growth (%)
- Total Income stood at Rs. 1,142.8 Crores in FY26, as compared to Rs. 545.0 Crores in FY25 registering a growth of 109.7% YoY. This significant growth was primarily driven by the expanded scale of the Business Correspondent segment and consolidation of Aadifidelis Solutions
- EBITDA* increased to Rs. 99.9 Crores in FY26 from Rs. 86.1 Crores in FY25
- PAT stood at Rs. 69.3 Crores in FY26 as compared to Rs. 58.8 Crores in FY25
in Rs. Crores
- EBITDA includes Other Income
BLS E-SERVICES
Consolidated Financial Highlights – Q4FY26 vs Q4FY25
in Rs. Crores
Total Income & YoY Growth (%)
EBITDA* & YoY Growth (%)
PAT & YoY Growth (%)
- Total Income stood at Rs. 328.9 Crores in Q4FY26, as compared to Rs. 245.2 Crores in Q4FY25 registering a growth of 34.1% YoY. This significant growth was primarily driven by the expanded scale of the Business Correspondent segment and consolidation of Aadifidelis Solutions
- EBITDA* increased to Rs. 26.0 Crores in Q4FY26 from Rs. 25.4 Crores in Q4FY25
- PAT stood at Rs. 18.2 Crores in Q4FY26 as compared to Rs. 17.3 Crores in Q4FY25
in Rs. Crores
- EBITDA includes Other Income
BLS
E-SERVICES
Consolidated Financial Highlights
in Rs. Crores
Consolidated
Total Income
EBITDA* & Margin (%)
Total Income
> Total Income grew by 109.7% YoY in FY26 to Rs. 1,142.8 Crores, as compared to Rs. 545.0 Crores in FY25. This significant growth was primarily driven by the expanded scale of the Business Correspondent segment and consolidation of Aadifidelis Solutions
> In FY26, EBITDA Margin contracted on account of change in business mix, entry into loan distribution business with acquisition of Aadifidelis, and High-Revenue & Low-Margin Business Model
- EBITDA includes Other Income
BLS
E-SERVICES
Consolidated P&L Statement – Q4FY26 & FY26
in Rs. Crores
| Particulars | Q4FY26 | Q4FY25 | YoY | FY26 | FY25 | YoY |
|---|---|---|---|---|---|---|
| Revenue from Operations | 323.4 | 239.2 | 35.2% | 1,117.8 | 519.4 | 115.2% |
| Other Income | 5.5 | 6.0 | 25.0 | 25.7 | ||
| Total Income | 328.9 | 245.2 | 34.1% | 1,142.8 | 545.0 | 109.7% |
| Cost of Services | 286.3 | 202.2 | 980.8 | 401.3 | ||
| Employee Benefit Expenses | 11.0 | 10.4 | 42.7 | 37.1 | ||
| Other Expenses | 5.7 | 7.3 | 19.4 | 20.5 | ||
| EBITDA* | 26.0 | 25.4 | 2.2% | 99.9 | 86.1 | 16.0% |
| EBITDA Margin* (%) | 7.9% | 10.4% | 8.7% | 15.8% | ||
| Operating EBITDA | 20.5 | 19.4 | 5.4% | 74.9 | 60.5 | 23.8% |
| Operating EBITDA Margin (%) | 6.3% | 8.1% | 6.7% | 11.6% | ||
| Finance Costs | 0.1 | 0.2 | 0.7 | 0.8 | ||
| Depreciation | 1.8 | 1.9 | 6.3 | 6.2 | ||
| PBT before Exceptional Items | 24.0 | 23.3 | 3.0% | 92.9 | 79.1 | 17.4% |
| PBT Margin (%) | 7.3% | 9.5% | 8.1% | 14.5% | ||
| Tax Expenses | 5.8 | 6.0 | 23.7 | 20.3 | ||
| PAT | 18.2 | 17.3 | 5.4% | 69.3 | 58.8 | 17.8% |
| PAT Margin (%) | 5.5% | 7.1% | 6.1% | 10.8% |
Consolidated Financials * EBITDA includes Other Income
Company Overview
BLS E-Services at a Glance
BLS
E-SERVICES
BLS E-Services Limited (BLSe) is a leading digital service provider to governments and financial institutions in the G2C, B2C, B2B categories, through its tech-enabled integrated business model
BLSe is not just a service provider, but also an enabler of equitable access and empowered citizenship, extending the reach of its services from cities to the country's farthest corners
BLSe operates under four Business Segments
| Business Correspondent (BC) Services | Loan Distribution | E-Governance Services | Assisted E-Services |
|---|---|---|---|
| Provides essential banking products and services including savings and recurring deposit accounts, cash deposits, withdrawals, remittances, transfers, bill collection solutions, and others | Significantly enhanced the loan distribution business through the acquisition of Aadifidelis Solutions, which facilitates personal loans, business loans, and credit products | Provides citizen-centric services for state and central government such as birth and death certificates, PAN and Aadhaar enrolments and property registrations | Provides services including PoS solutions, ticketing and assisted e-commerce, promoting financial inclusion and digital adoption |
Rs. 1,143 Crores
FY26 Total Income
67%
FY23-26 Total Income CAGR
Rs. 100 Crores
FY26 EBITDA*
8.7%
FY26 EBITDA Margin*
Rs. 69 Crores
FY26 PAT
6.1%
FY26 PAT Margin
- EBITDA includes Other Income
Key Strengths
Key Strengths
BLS E-SERVICES
BLS
E-SERVICES
1. Diversified Business Model
Supporting state governments in empowering citizens, the Company facilitates access to more than 750 digitally delivered government services
Business Correspondent
- Delivers last mile banking services through a robust network of centers in rural and remote areas
- Part of Financial Inclusion Program of Govt. Of India
- Services Provided:
- Enrolment of customers
- Opening bank accounts
- Balance enquiry
- Money transfer
- Passbook updation and other basic banking services
Loan Distribution
- Significantly enhanced the loan distribution business through acquisition of Aadifidelis Solutions Pvt. Ltd.
- Services Provided:
- Personal Loans
- Business Loans
- Credit Products tailored to the needs of growing rural and semi-urban customer base
E-Governance Services
- Enables the provision of citizen-centric and front-end services through BLS Touchpoints
- Services Provided:
- Birth and Death certificates
- PAN and Aadhar registrations
- Property registrations and Land record management
- Ayushman Bharat Quality Checks
- 700+ Citizen centric services
Assisted E-Services
- Provides a variety of services & products through retailers and digital stores also known as BLS E-stores
- Services Provided:
- PoS services
- Ticketing services
- Assisted e-commerce services,
- Other services & products
- Revenue is generated through registration fees; transaction-based commission on goods & services supplied; and support service charge
16
BLS
E-SERVICES
1a. Business Correspondent Services
Delivering last mile banking services to unserved and underserved rural and remote population as a part of the Financial Inclusion Program of Govt. of India
Comprehensive range of solutions
- Channels and distribution strategies
- Sales force recruitment and tracking
- Customer database maintenance
- Business and market intelligence
- Back-end sales support services
Advantage gained by our clients
- Highly motivated workforce
- Cutting edge processes – higher productivity and efficiency & RoI
- Improve businesses competitiveness in their markets
- Huge network of partners and channels
- Clear understanding of how the services offered will impact their sales
Existing Customers
- SBI
- के ग्रुप ब्लॉग
Bank of Baroda - Utkal Grameen Bank
- ब्लॉगिंग सेंटर ऑफ ब्लॉग
Bangladesh India - Indian Overseas Bank
अंग्रेजी एनर्जी का समग्र खर्चा
Good people to grow with - रोजाना रोजाना रोजाना
रोजाना रोजाना - HDFC BANK
आयुर्वेद एवं विज्ञान विभाग
Agricultural and Food Development
SBI - Reaching further Uttarakhand Gramin Bank - Expanding footprints
Total network of
45,800+ BCs^
spread across
India*
Business Correspondent Coverage *
| No. of Services Offered^ | 300+ |
|---|---|
| Rural / Semi rural codes (#)^ | 30,000+ |
| Urban Code (#)^ | 15,800+ |
| Transaction Volumes (in Mn) (for FY26) | ~ 130+ |
*as on March 31, 2026
^Including services offered, rural/semi-rural codes, urban codes and BCs of ASPL
BLS
E-SERVICES
1a. Loan Distribution Business
BLS E-Services significantly enhanced the loan distribution business through the acquisition of 57% controlling stake in Aadifidelis Solutions Pvt. Ltd., having a strong network and proven partnerships across leading banks and NBFCs
About Aadifidelis Solutions
- One of the leading loan distribution companies in India
- Facilitates personal loans, business loans, and credit products tailored to the needs of its growing rural and semi-urban customer base
- Pan-India Presence in 24+ States & UTs
- Empanelled with 100+ Financial Institutions
- 9,400+ Channel partners
Aadifidelis' Partners
Loan Leads Generated (Rs. Crores)
BLS
E-SERVICES
1b. E – Governance Services
A trusted partner for government initiatives the platform simplifies citizen access to over 700+ services across Departments through Jan Seva Kendras and over 22,000+ Common Service Centres in Uttar Pradesh, Karnataka, Gujarat, West Bengal and Rajasthan
One stop shop platform to offer citizen centric services of all the Government Departments. Majorly: identity enrolment & updation, certificates, etc.
- Efficient and cost-effective methods of service delivery
- Enhance transparency and responsiveness of the Government to citizen needs
- Convenience to citizens by reducing the travel time to avail services from haphazardly located service delivery centres.
- Bring uniformity across states and reducing the need for intermediaries
- Jan Seva Kendra (CSC) on behalf of Uttar Pradesh Government in India
- Services of all UP-Government Departments through 22,000+ CSCs
- 330+ G2C & B2C services provided through CSCs
BLS E-SERVICES
1c. Assisted E-Services
BLSe offers a wide array of assisted digital services, delivered through BLS Touchpoints, designed as one-stop solutions for daily needs. Focus on cross-selling and up-selling a broad portfolio of services via a tech-enabled platform, BLS Sewa
Access to Services including:
- Bill payments
- Insurance
- Recharges
- Credit Cards
- Ayushman Bharat registrations
- E-commerce facilitation
- IRCTC train bookings
- Telemedicine consultations
- E-learning
- Passport and visa processing
- Micro-loans
- Others
Impact & Value Addition:
Empowers village-level entrepreneurs (VLEs) and local retailers with additional income streams by cross-selling 330+ value added services
Enhances digital and financial inclusion by making essential services accessible at the grassroots level
BLS E-SERVICES
2. Multi Modal Revenue Stream
21
BLS E-SERVICES
3. Asset Light Model
Merchant-Led Model
BLS E-Services operates on a proven asset-light and merchant-led business model that ensures scalability with minimal capital outlay
Operational Flexibility & Scalability
The model reduces fixed costs and supports rapid expansion, even in remote and underserved areas
Cross-Selling & Customer Loyalty
Merchants build community trust, enabling cross-selling of multiple services and increasing revenue per customer
Technology-driven Platform
Technology acts as the backbone, with proprietary platforms simplifying merchant onboarding, operations and training all while keeping capital and operational costs low
Low Capex Intensity
The model relies on merchants who own or lease BLS touchpoints and stores, enabling rapid expansion without significant capex on physical infrastructure
Scalable Revenue Growth
Growth achieved without proportional increase in assets or branches, with capital-light expansion driving strong returns
BLS E-SERVICES
4. Value Accretive Acquisitions
Starfin India Private Limited
- Acquired in 2018
- 100.0% stake
- Business Correspondent business
- Delivers national business correspondent services for multiple banks, while also engaging in insurance partnerships, e-Governance projects, e-commerce facilitation, courier collaborations, utility payments and other citizen-focused services
Zero Mass Private Limited
- Acquired in 2022
- 90.9% stake
- Business Correspondent business
- ZMPL focuses on banking correspondent operations through a wide network of service points for various banks, supporting core customer services
Aadifidelis Solutions Private Limited
- Acquired in 2024
- 57.0% stake
- Loan Distribution business
- ASPL is one of the leading loan distribution companies in India engaged in distribution and processing of loans for corporates and individuals in India
100.0% Stake acquired for Rs 12.4 Crores
90.9% Stake acquired for Rs. 110.1 Crores
57.0% Stake acquired for Rs. 123 Crores
Strategic Entry into BC Business
Significant expansion of the BC Business
Strategic entry into Loan Distribution
BLS
E-SERVICES
5. Expansive Network Reach
Business Correspondents (BC) Services (including Loan Distribution)
| 45,800+
Business Correspondents ^
(as on March 31, 2026) | 30,000+
Rural / Semi-Urban Codes | 130+
Million Transactions in FY26 | 15,800+
Urban Codes | 162
Bank/NBFC Tie-ups^
(as on March 31, 2026) | Rs. 1,11,000 +
Crores
Gross Transaction Value in FY26 | 300+
Services Offered |
| --- | --- | --- | --- | --- | --- | --- |
E-Governance Services
| 700+
G2C & B2C Services | 22,000+
CSCs in UP & Other States |
| --- | --- |
| Punjab
West Bengal
Gujarat | Rajasthan
Uttar Pradesh |
| Birth and death registrations, PAN issuance, property registrations, Identity Enrolment, etc. | |
Assisted E-services
| 1,55,000+
Touchpoints^
(as on March 31, 2026) |
| --- |
| IRCTC bookings, e-commerce, insurance, telemedicine, education and others services |
BLS E-SERVICES
6. Cross-selling and Up-selling under Digital Services
We intend to become the “Go to Market Platform” for various business verticals including fintech and digital platforms. The assisted digital convenience stores (BLS Touchpoints) act as the “One-stop solution” for availing various products & services on the digital platform called BLS Sewa app
BLS E-SERVICES
7a. Tailwinds in BC Industry – Driving Financial Inclusion in Remote Areas
BC’s Handle 60.5% of BSDA Transactions in CY24, up from 55.6% in CY19, highlighting their role in Financial Inclusion
Transaction in BSBDA through BCs by Value (INR Bn)
Rising BC-ICT Transactions at Village Banking Outlets ('000s)
Transaction in BSBDA through BCs by Volume (Mn)
BC- ICT Transactions in villages reached 2,729 Mn in CY24 indicating digital banking growth
Source: Industry Report, Research & News Articles
BLS E-SERVICES
7b. India's E-Governance– Enhancing Service Delivery Through Technology & Transparency
Transaction in BSBDA through BCs by Value (INR Bn)
| Particulars | EGDI | OSI |
|---|---|---|
| China | 0.8119 | 0.8876 |
| Russia | 0.8162 | 0.7368 |
| Brazil | 0.7910 | 0.8964 |
| South Africa | 0.7357 | 0.7487 |
| India | 0.5883 | 0.7934 |
Transaction in BSBDA through BCs by Volume (Mn)
| Particulars | EGDI | OSI |
|---|---|---|
| EGDI Composite Score | 0.3834 | 0.5883 |
| Rank | 118 | 105 |
The E-Government Development Index (EGDI) is the weighted average of normalised scores on the three most important dimensions of e-Government:
- The Scope and quality of online services as online Service Index (OSI)
- The Status of the development of telecommunication infrastructure or the Telecommunication Infrastructure Index (TII)
E-services across state/UTs in India (CY24)
Top 10 states/UTs and their status of e-services provided to citizen
Source: Industry Report, Research & News Articles
BLS
E-SERVICES
7c. Tailwinds in Loan Distribution Markets
India’s loan distribution market, including banking and non-banking financial companies (NBFCs), plays a pivotal role in fuelling economic growth through credit disbursement across retail, MSME, housing, and other segments
India Systemic Credit Market (USD Tn.)
| Segments | Market Size (FY25, USD Bn) | Share of Total Retail Credit |
|---|---|---|
| MSME Loans | ~510 | 52% |
| Housing Loans | ~459 | 46% |
| Auto Loans | ~145 | 15% |
| Personal Loans | ~176 | 18% |
| Gold Loans | ~149 | 15% |
| Microfinance | ~46 | 5% |
Key Growth Drivers
Economic Expansion and Rising Incomes:
India’s GDP growth at 6.3 6.4% for FY 2025-27 boosts disposable incomes and consumerism, driving demand for personal and housing loans
Digitalisation and Fintech Boom:
The fintech market, valued at USD 111 Billion, is projected to reach USD 421 Billion by 2029, with digital lending improving efficiency and inclusion via UPI
Financial Inclusion Initiatives:
Programmes like Pradhan Mantri Jan Dhan Yojana (PMJDY) have opened 541 Million accounts, facilitating credit access in rural/semi-urban areas (67% of accounts)
Urbanisation and Sector-Specific Demand:
Increasing urbanisation fuels housing and auto loans, while gold loans surge due to cultural affinity and economic volatility
Source: Industry Report, Research & News Articles
Key Investment Highlights
Investment Rationale
BLS E-SERVICES
Asset Light Model
01
Merchant led business model wherein all the BLS touch points & BLS E-stores are either owned or leased by merchants.
BLSe provide them with necessary technology and other infrastructure (as applicable) enabling them to extend services to the end consumers
Cross-selling & Up-selling opportunities
02
BLSe's ability to bring together the advantages of G2C, B2B and B2C models within a single platform, provides a significant opportunity to cross sell and up-sell wide range of products & services to the citizens through its vast network.
Diverse sources of revenue and negligible customer acquisition and retention costs
03
BLSe charge consumers with a service fee and transactional commission. Further charge merchants a registration fee, renewal fee, new service activation fee, etc other than the transaction fee for use of services available on their portal.
Proven track record of successfully integrating acquisitions
04
BLSe have a history of acquiring complementary businesses, that complement existing capabilities, revenue streams and marketing presence. Past acquisitions include Starfin and Zero Mass (ZMPL). Acquired 57% of Aadifidelis Solutions Pvt. Ltd., a loan distribution and processing company in India.
Network with Pan India presence
05
BLSe has Pan India presence through its widespread network of 155,000+ BLS Touchpoints and 45,800+ CSPs.
BLS E-SERVICES
Way Forward
Organic Growth
- Focus on volume led growth across the various verticals of BCs, Loan Distribution, E-Gov & Assisted E-services
- Follow an aggressive strategy to win new government tenders for E-governance business
- New tie-ups with financial institutions viz Banks, Insurance companies, NBFC, etc.
- Continue to engage with new vendors for expanding B2B2C service offerings of BLSe
- Enhance the quality of services thereby enhancing customer experience
Invest in technology to further build robust systems and processes
- Strengthen our technology infrastructure to develop new capabilities and consolidate our existing platforms
- Invest in technologies, infrastructure & manpower to tap exciting possibilities related to digitalization, last mile penetration & enhanced service experience
Inorganic Opportunities
- Actively scouting for strategic inorganic opportunities, which would provide synergy to the existing businesses, with an objective to maximize shareholder's value
Historical Financial Highlights
BLS E-SERVICES
Consolidated Key Financial Highlights
in Rs. Crores
BLS E-SERVICES
Consolidated Historical P&L Statement
in Rs. Crores
| Particulars (In Rs. Crores) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue from Operations | 96.7 | 243.1 | 301.5 | 519.4 | 1,117.8 |
| Other Income | 1.7 | 3.2 | 8.1 | 25.7 | 25.0 |
| Total Income | 98.4 | 246.3 | 309.6 | 545.0 | 1,142.8 |
| Cost of Services | 63.5 | 161.7 | 207.6 | 401.3 | 980.8 |
| Employee Benefit Expenses | 6.4 | 23.2 | 29.7 | 37.1 | 42.7 |
| Other Expenses | 19.9 | 25.1 | 22.3 | 20.5 | 19.4 |
| EBITDA* | 8.6 | 36.3 | 49.9 | 86.1 | 99.9 |
| EBITDA Margin* (%) | 8.7% | 14.7% | 16.1% | 15.8% | 8.7% |
| Operating EBITDA | 6.9 | 33.1 | 41.8 | 60.5 | 74.9 |
| Operating EBITDA Margin (%) | 7.1% | 13.6% | 13.9% | 11.6% | 6.7% |
| Finance Costs | 1.0 | 3.9 | 0.9 | 0.8 | 0.7 |
| Depreciation | 0.8 | 2.8 | 3.4 | 6.2 | 6.3 |
| PBT before Exceptional Items | 6.8 | 29.6 | 45.7 | 79.1 | 92.9 |
| PBT Margin (%) | 6.9% | 12.0% | 14.8% | 14.5% | 8.1% |
| Tax Expenses | 1.4 | 6.6 | 12.2 | 20.3 | 23.7 |
| PAT | 5.4 | 20.3 | 33.5 | 58.8 | 69.3 |
| PAT Margin (%) | 5.5% | 8.3% | 10.8% | 10.8% | 6.1% |
Consolidated Financials * EBITDA includes Other Income
BLS
E-SERVICES
Consolidated Historical Balance Sheet
in Rs. Crores
| Consolidated (in Rs. Crores) | Mar-22 | Mar-23 | Mar-24 | Mar-25 | Mar-26 |
|---|---|---|---|---|---|
| ASSETS | |||||
| Non-current assets | |||||
| Property, Plant and Equipment | 0.2 | 1.1 | 4.7 | 5.5 | 7.2 |
| Goodwill | 8.0 | 81.5 | 81.5 | 167.0 * | 167.0 |
| Other Non-Current Assets | 20.9 | 26.7 | 115.0 | 225.2 | 54.1 |
| Current Assets | |||||
| Inventories | - | 0.6 | 1.6 | 0.5 | 0.2 |
| Trade Receivables | 8.5 | 18.2 | 25.2 | 93.4 | 119.2 |
| Other Current Assets | 18.3 | 51.5 | 281.7 | 212.0 | 414.3 |
| Total Assets | 55.9 | 179.5 | 509.7 | 703.6 | 761.9 |
| EQUITY & LIABILITIES | |||||
| Equity Share Capital | 0.0 | 66.7 | 90.9 | 90.9 | 90.9 |
| Other Equity | 6.8 | 40.2 | 340.3 | 391.9 | 431.6 |
| Share Capital pending allotment | 8.3 | - | - | - | - |
| Non-Controlling Interest | - | 4.5 | 6.6 | 35.6 | 47.3 |
| Total Equity | 15.1 | 111.5 | 437.8 | 518.4 | 569.8 |
| Long-term Borrowings | 7.3 | - | - | - | - |
| Other Non-Current Liabilities | 5.8 | 4.1 | 6.1 | 5.3 | 5.0 |
| Short-term Borrowings | 1.5 | - | - | - | - |
| Trade Payables | 7.9 | 2.5 | 3.2 | 56.0 | 82.1 |
| Other Financial Liabilities | 15.2 | 53.4 | 53.8 | 110.6 * | 88.7 |
| Other Current Liabilities | 3.2 | 8.0 | 8.8 | 13.4 | 16.3 |
| Total Equity & Liabilities | 55.9 | 179.5 | 509.7 | 703.6 | 761.9 |
*Restated Financials: The comparative figures have been restated in accordance with IND AS 103 'Business Combinations'
Annexures
BLS E-SERVICES
Corporate Structure
Only key operational subsidiaries have been included
37
BLS
E-SERVICES
Thank You
Mr. Rahul Sharma
Executive Director & CFO
[email protected]
Vikash Verma / Rohit Anand / Riddhant Kapur
[email protected] /
[email protected] / [email protected]