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BLS International Services Ltd Earnings Release 2026
60423_rns_2026-05-19_4620b9fe-65b1-4f4a-a288-aab895f72bf1.pdf
Earnings Release
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BLS INTERNATIONAL
www.blsinternational.com
May 19, 2026
| To, BSE Limited The Corporate Relationship Department Address: Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001 BSE Scrip Code: 540073 | To, National Stock Exchange of India Limited Address: Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 NSE Symbol: BLS |
|---|---|
Subject: Outcome of Board of Directors meeting held on Tuesday, May 19, 2026
Dear Sir / Madam,
In compliance with Regulations 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") (including any statutory modification(s), amendment(s) or re-enactment(s) thereof for the time being in force), this is to inform you that the Board of Directors of the Company at their meeting held today i.e. Tuesday, May 19, 2026, has, inter alia, considered and approved the following items of agenda:
- Consolidated and Standalone Audited Financial Results for the Quarter/ financial year ended March 31, 2026 along with Auditors' Reports on the Audited Financial Results (Consolidated and Standalone) for the quarter / year ended March 31, 2026, as recommended by the Audit Committee; are enclosed herewith as Annexure A.
- Declaration to the Auditors' Reports with unmodified opinion on the aforesaid Audited Financial Results (Consolidated and Standalone) is enclosed as Annexure B
- Recommended Final Dividend @ 50% on face value i.e. ₹ 0.50/- per equity share of Face Value of Rs. 1/- each on 41,17,40,908 equity shares of the Company, for the financial year 2025-26, subject to the approval of the shareholders in ensuing Annual General Meeting of the Company
- Re-appointment of M/s. Nangia & Co. LLP, Chartered Accountants, as Internal Auditors of the Company for financial year 2026-27. Details of the said re-appointment is enclosed herewith.
- Appointment of Mr. Gaurav Aggarwal, as a President-Business Development under the category of Senior Management Personnel of the Company with effect from May 19, 2026. Details of the said appointment is enclosed herewith.
- The Board of Directors, on the recommendation of the Nomination and Remuneration Committee, has approved and recommended to the shareholders re-appointment of Mr. Ram Sharan Prasad Sinha, (DIN: 00300530) as Non-Executive Independent Director on the Board of the Company for second term of 5 consecutive years commencing from August 17, 2026. Brief Profile of Mr. Ram Sharan Prasad Sinha is enclosed herewith.
Further, we would like to state that as per the requirement of the Circular No. LIST/COMP/14/2018-19 Dated June 20, 2018 w.r.t. Enforcement of SEBI Orders Regarding Appointment Of Directors By Listed Companies, the Board of Directors and its Nomination and Remuneration Committee while considering the re-appointment of Mr. Ram Sharan Prasad Sinha (DIN: 00300530) as Non-Executive
BLS International Services Limited
Registered office: G-4B-1 Extension, Mdhan co-operative Indl, Estate, Mathura Road, New Delhi - 110044 (INDIA)
+91-11-45795002 +91-11-23755264 [email protected]
CIN No.: L51909DL1983PLC016907
BLS INTERNATIONAL
www.blsinternational.com
Independent Director, has verified and confirmed from him that he is not debarred from holding the office of Director pursuant to any SEBI order or any other such authority.
With respect to point no. 4 to point no. 6 mentioned above, the required details pursuant to the SEBI Listing Regulations read with SEBI Master Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are annexed herewith as Annexure C.
- Notice of Postal ballot for seeking approval of Shareholder of the Company for item mentioned above in Point no. 6.
The Board meeting commenced at 04:50 P.M. and concluded at 8:15 P.M.
You are requested to kindly take the same on record.
For and on behalf of,
BLS International Services Limited
Dharak
Drighally signed
by Dharak Arvind
Mehta
Oate: 2026.05.19
22:52:37 +05'00'
Dharak A. Mehta
Company Secretary and Compliance Officer
ICSI Membership No.: FCS12878
Place: Delhi
Date: May 19, 2026
Encl: as above
BLS International Services Limited
Registered office: G-4B-1 Extension, Mdhan co-operative Indl, Estate, Mathura Road, New Delhi - 110044 (INDIA)
+91-11-45795002 • +91-11-23755264 [email protected]
CIN No.: L51909DL1983PLC016907
Annexure -A
| BLS INTERNATIONAL SERVICES LIMITED CIN: L51909DL1983PLC016907 Regd. Office: G-4, B-1, Extension, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi-110044. Telephone number: 011-45795002; Fax: 011-23755264; Email: [email protected]; Website: www.blsinternational.com STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026 Amount in (Rs.) in lakhs | ||||||
|---|---|---|---|---|---|---|
| Sl. No | Particulars | Quarter ended | Year Ended | |||
| March 31, 2026 (Refer note-7) | December 31, 2025 | March 31, 2025 (Refer note-7) | March 31, 2026 | March 31, 2025 | ||
| Audited | Unaudited | Audited | Audited | Audited | ||
| I | Income from operations | 81,456.42 | 73,645.73 | 69,276.90 | 2,99,821.51 | 2,19,330.19 |
| II | Other income | 3,040.01 | 2,095.64 | 2,483.71 | 9,515.60 | 8,050.48 |
| III | Total income (I+II) | 84,496.43 | 75,741.37 | 71,760.61 | 3,09,337.11 | 2,27,380.67 |
| IV | EXPENSES | |||||
| (a) Cost of services | 39,178.57 | 33,472.31 | 34,159.94 | 1,38,172.74 | 98,602.15 | |
| (b) Employees benefits expenses | 12,491.34 | 12,325.56 | 9,677.90 | 46,556.27 | 32,348.47 | |
| (c) Finance costs | 565.13 | 512.02 | 936.13 | 2,323.96 | 2,777.79 | |
| (d) Depreciation and amortisation expense | 2,510.45 | 2,324.92 | 2,291.09 | 9,365.01 | 7,653.99 | |
| (e) Other expenses | 9,395.36 | 8,050.61 | 8,030.10 | 33,205.17 | 25,445.93 | |
| Total expenses (IV) | 64,140.85 | 56,685.42 | 55,095.16 | 2,29,623.15 | 1,66,828.33 | |
| V | Profit before exceptional items & tax (III-IV) | 20,355.58 | 19,055.95 | 16,665.45 | 79,713.96 | 60,552.34 |
| VI | Exceptional items | - | - | - | - | - |
| VII | Profit / (Loss) before tax (V-VI) | 20,355.58 | 19,055.95 | 16,665.45 | 79,713.96 | 60,552.34 |
| VIII | Tax expense | |||||
| Current tax | 1,927.32 | 2,149.75 | 2,363.43 | 7,314.75 | 7,255.02 | |
| Deferred tax | (283.21) | 115.89 | (221.91) | 229.59 | (656.18) | |
| Tax for earlier years | 21.46 | (232.01) | 1.84 | (210.40) | (11.26) | |
| Total tax expenses (VIII) | 1,665.57 | 2,033.63 | 2,143.36 | 7,333.94 | 6,587.58 | |
| IX | Profit for the period/year (VII-VIII) | 18,690.01 | 17,022.32 | 14,522.09 | 72,380.02 | 53,964.76 |
| X | Other comprehensive income (OCI) | |||||
| Items that will not be reclassified to profit or loss | ||||||
| (i) Re-measurements gain/(loss) on defined benefit plans | 97.07 | (51.57) | 22.28 | 79.40 | 12.17 | |
| (ii) Tax on (i) above | (27.02) | 14.75 | 0.37 | (12.27) | 2.91 | |
| (iii) Changes in fair value of financial assets if designated to OCI | - | (191.12) | - | - | ||
| Items that will be reclassified to Profit and loss | ||||||
| (i) Foreign currency translation reserve | 10,751.14 | (1,197.87) | 710.96 | 17,715.34 | 2,006.13 | |
| Total other comprehensive income, net of tax | 10,821.19 | (1,234.69) | 542.49 | 17,782.47 | 2,021.21 | |
| XI | Total comprehensive income for the period /year (IX+X) | 29,511.20 | 15,787.63 | 15,064.58 | 90,162.49 | 55,985.97 |
| Profit attributable to : | ||||||
| a) | Owners of the parents | 17,779.56 | 16,267.47 | 13,514.09 | 68,669.78 | 50,822.71 |
| b) | Non-controlling interests | 910.45 | 754.85 | 1,008.00 | 3,710.24 | 3,142.05 |
| Total Comprehensive income attributable to: | ||||||
| a) | Owners of the parents | 28,587.98 | 15,046.79 | 14,045.66 | 86,453.49 | 52,834.81 |
| b) | Non-controlling interests | 923.22 | 740.84 | 1,018.92 | 3,709.00 | 3,151.16 |
| XII | Paid-up equity share capital ( Face Value Per Share Re. 1/-) | 4,117.41 | 4,117.41 | 4,117.41 | 4,117.41 | 4,117.41 |
| XIII | Other Equity | 2,42,229.04 | 1,68,965.73 | |||
| XIV | Earning Per Share ( of Re. 1/- each) (for quarterly periods are not annualized) | |||||
| (a) Basic | 4.32 | 3.95 | 3.28 | 16.68 | 12.34 | |
| (b) Diluted | 4.31 | 3.95 | 3.28 | 16.64 | 12.33 | |
B
Notes to Consolidated financial results :
-
The above results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 19 May 2026. Audit of these results has been carried out by the Statutory Auditors.
-
These results have been prepared in accordance with the recognition and measurement principles of the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013, other accounting principles generally accepted in India and are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended).
-
The Group has identified the below segments as reportable segment in accordance with the Indian Accounting Standard 108 'Operating Segments': "Visa and Consular Services" (includes visa and allied services) and "Digital Services" (includes E-Governance, Business Correspondent and allied services).
-
On November 21, 2025, the Government of India notified the four Labour Codes, consolidating 29 prior laws. The Ministry of Labour & Employment released draft Central Rules and FAQs to assess financial impacts. The Group has assessed and disclosed the incremental impact consisting of gratuity of Rs. 66.92 lakh within the employee benefit expense. The Group continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed.
-
The Board of Directors at its meeting held on May 19, 2026 have recommended a payment of final dividend of Rs.0.50 per equity share of Rs. 1/- each, subject to the approval of it's shareholders at the ensuing Annual General Meeting.
-
The equity shares of the Company got listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") on February 06, 2024. The Company has received an amount of Rs 30,929.29 lakhs being gross proceeds from fresh issue of equity shares. Net proceeds after issues expenses amounting to Rs. 27,776.93/- in relation to fresh issue are proposed to be utilized and the utilization thereof are summarized as below:
| Object(s) | Amount as proposed in the Offer Document | Alteration in the objects of the IPO for which the amount was raised* | Revised Cost | Amount utilised upto March 31, 2026 | Total unutilized amount up to March 31, 2026 |
|---|---|---|---|---|---|
| Strengthening our technology infrastructure to develop new capabilities and consolidating our existing platforms | 9,758.71 | (6,321.70) | 3,437.01 | 1,715.32 | 1,721.69 |
| Funding initiatives for organic growth by setting up of BLS Stores | 7,478.30 | (7,478.30) | - | - | - |
| Achieving inorganic growth through acquisitions | 2,871.00 | - | 2,871.00 | 2,871.00 | - |
| General corporate purpose | 7,668.92 | - | 7,668.92 | 7,668.92 | - |
| Acquisition of equity shares in Atyati Technologies Private Limited | - | 13,800.00 | 13,800.00 | - | 13,800.00 |
| Total | 27,776.93 | - | 27,776.93 | 12,255.24 | 15,521.69 |
IPO proceeds which were un-utilized as at March 31,2026 were temporarily invested in term deposit amounting to Rs 15,516.00/- lakhs with scheduled bank and the balance amount lying in the Monitoring account.
-
Pursuant to the Audit Committee's recommendation, the Board of Directors in their meeting held on February 16, 2026 approved seeking shareholders' approval by way of an Extra-Ordinary General Meeting ("EGM") for change and variation in the objects of utilization of the IPO proceeds. The resolution was approved by the shareholders with the requisite majority at the EGM held on March 16, 2026.
-
The figures for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between the consolidated audited figures in respect of the full financial year and consolidated unaudited published figures up to nine months of the relevant financial year, which is subject to limited review by statutory auditor.
-
During the previous year, the Group has made the following acquisitions-
(a) 100% stake in Trefeddian Hotel (Aberdovey) Limited through BLS UK Hotels Limited ("Subsidiary Company") on October 02, 2025.
The above consolidated financial results for the quarter and year ended March 31, 2026 include the results of the above said acquisitions hence corresponding quarter ended March 31,2025 is not comparable with the current quarter/year. -
The previous period figures have been regrouped/reclassified wherever necessary.
For BLS International Services Limited
Shikhar Aggarwal
Jt. Managing Director
DIN No. 06975729
Place : New Delhi
Date : May 19, 2026
BLS INTERNATIONAL SERVICES LIMITED
(CIN No.: L51909DL1983PLC016907)
Consolidated balance sheet as at March 31, 2026
Amount in (₹) in lakhs
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Non-Current Asset | ||
| Property, plant & equipment | 29,024.96 | 17,881.80 |
| Capital Work-in-progress | 194.54 | - |
| Goodwill | 1,21,283.10 | 1,02,579.58 |
| Intangible assets | 4,071.87 | 4,808.05 |
| Intangible asset under development | 1,457.83 | 1,074.90 |
| Right to use assets | 16,224.90 | 14,200.90 |
| Financial assets: | ||
| Investments in associates | 2,084.00 | 2,129.44 |
| Other investments | - | 3,532.14 |
| Other financial assets | 16,943.46 | 21,007.34 |
| Deferred tax assets (net) | 834.05 | 1,065.58 |
| Non current tax assets (net) | 1,991.00 | 1,205.32 |
| Total non- current assets | 1,94,109.71 | 1,69,485.06 |
| Current Asset | ||
| Inventories | 87.01 | 48.66 |
| Financial assets: | ||
| Investments | 33,075.98 | 16,325.64 |
| Trade receivables | 17,057.15 | 12,173.65 |
| Cash and cash equivalents | 49,416.41 | 28,286.49 |
| Bank balances other than cash and cash equivalents | 68,761.66 | 45,790.29 |
| Other financial assets | 8,499.40 | 9,180.37 |
| Other current assets | 6,002.70 | 2,412.22 |
| Total current assets | 1,82,900.31 | 1,14,217.31 |
| TOTAL ASSETS | 3,77,010.02 | 2,83,702.37 |
| EQUITY & LIABILITIES | ||
| Equity | ||
| Equity share capital | 4,117.41 | 4,117.41 |
| Other equity | 2,42,229.04 | 1,68,965.73 |
| Total equity | 2,46,346.45 | 1,73,083.14 |
| Non controlling Interest | 32,020.00 | 28,794.76 |
| Liabilities | ||
| Non - Current Liabilities | ||
| Financial liabilities: | ||
| Borrowings | 17,802.69 | 20,451.92 |
| Lease liabilities | 14,934.21 | 10,468.32 |
| Other financial liabilities | 60.60 | 55.99 |
| Provisions | 1,478.58 | 1,168.01 |
| Deferred tax liabilities (net) | 1,596.61 | 163.61 |
| Total non-current liabilities | 35,872.69 | 32,307.85 |
| Current liabilities | ||
| Financial liabilities: | ||
| Borrowings | 5,253.25 | 2,490.77 |
| Lease liabilities | 5,067.37 | 4,986.25 |
| Trade payables | ||
| (a) total outstanding dues to micro enterprises and small enterprises | 312.84 | 98.09 |
| (b) total outstanding dues to creditors other than micro enterprises and small enterprises | 14,958.22 | 9,728.65 |
| Other financial liabilities | 20,702.50 | 18,760.38 |
| Other current liabilities | 16,287.07 | 13,385.40 |
| Provisions | 189.63 | 67.09 |
| Total current liabilities | 62,770.88 | 49,516.63 |
| TOTAL EQUITY AND LIABILITIES | 3,77,010.02 | 2,83,702.37 |
For BLS International Services Limited
Place : New Delhi
Date : May 19, 2026
S
Shikhar Aggarwal
Jt. Managing Director
DIN No. 06975729
BLS INTERNATIONAL SERVICES LIMITED
(CIN No.: L51909DL1983PLC016907)
CONSOLIDATED STATEMENT OF CASH FLOWS FOR YEAR ENDED MARCH 31, 2026
Amount in (lakhs) unless otherwise stated
| Particulars | For the year ended March 31, 2026 (Audited) | For the year ended March 31, 2025 (Audited) |
|---|---|---|
| Cash flow from operating activities | ||
| Profit before tax | 79,713.96 | 60,552.34 |
| Adjustments for: | ||
| Depreciation & amortization expense | 9,365.01 | 7,653.99 |
| Profit on sale of property, plant and equipment (Net) | (0.20) | (15.92) |
| Profit on sale of investment (net) | (848.68) | (486.13) |
| Finance costs | 2,323.96 | 2,777.79 |
| Dividend income | (0.14) | - |
| Balances/Advances written off | 57.49 | 43.62 |
| Provision for bad debts | 307.27 | 907.39 |
| Finance income | (5,645.62) | (5,233.86) |
| Provision for Investment | - | 329.17 |
| Property, Plant and Equipment written off | - | 7.80 |
| Employee stock option reserve | 709.61 | 1,659.67 |
| Fair Value Gain on investment | (506.35) | - |
| Foreign currency translation reserve | 13,713.86 | 2,006.13 |
| Operating profit before working capital change | 99,190.17 | 70,201.99 |
| Adjustments for: | ||
| Increase in trade receivables | (3,655.35) | (14,641.42) |
| (Increase)/ decrease in Inventories | (38.35) | 110.95 |
| Decrease/(Increase) in other financial current assets | 1,693.25 | (2,203.57) |
| Increase in other current assets | (3,152.78) | (708.34) |
| Increase in other non-current Financial assets | (274.94) | (1,426.35) |
| (Decrease)/Increase in other financial liability | (5.35) | 19.79 |
| Increase in long term provisions | 310.57 | 830.67 |
| Increase/(Decrease) in short term provisions | 185.83 | (0.02) |
| Increase in trade payables | 322.55 | 16,123.46 |
| Increase in other financial current liabilities | 1,754.37 | 11,847.14 |
| Increase in other current liabilities | 2,146.15 | 10,207.34 |
| Cash from operations | 98,476.12 | 90,361.64 |
| Direct taxes paid | (8,182.64) | (7,478.98) |
| Net cash flow generated from operating activities (A) | 90,293.48 | 82,882.66 |
| Cash flow from investing activities | ||
| Purchase of property, plant and equipment | (13,709.17) | (16,120.59) |
| Purchase of investments | (12,659.08) | (10,332.56) |
| Payment made towards acquisition of subsidiary (net of cash acquired on account of acquisition) | (3,093.67) | (89,912.43) |
| Acquisition of treasury share by trust | (1,090.64) | - |
| Investments from maturity in term deposits | (18,665.87) | (601.56) |
| Interest received | 4,609.16 | 5,109.95 |
| Net cash flow used in investing activities (B) | (44,609.27) | (1,11,857.19) |
| Cash flow from financing activities | ||
| (Repayment)/ proceeds from borrowing (net) | (3,865.96) | 20,451.91 |
| Purchase of shares in subsidiary | (1,583.19) | - |
| Repayment of lease liabilities | (5,492.14) | (1,152.66) |
| Dividend paid | (13,001.84) | (2,111.53) |
| Dividend received | 0.14 | - |
| Interest paid | (522.98) | (1,338.93) |
| Transaction cost on issue of equity shares | (88.32) | - |
| Net cash flow (used in)/from financing activities (C) | (24,554.29) | 15,848.79 |
| Net increase/(decrease) in cash and cash equivalent (A+B+C) | 21,129.92 | (13,125.75) |
| Cash and cash equivalent at the beginning of the year | 28,286.49 | 41,412.23 |
| Cash and cash equivalent at the end of the year | 49,416.41 | 28,286.49 |
For BLS International Services Limited
Place : New Delhi
Date : May 19, 2026
Shikhar Aggarwal
Jt. Managing Director
DIN No. 06975729
SS KOTHARI MEHTA
& CO. LLP
CHARTERED ACCOUNTANTS
Independent Auditors’ Report on the Quarterly and Year to date audited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To
The Board of Directors of
BLS International Services Limited
New Delhi
Report on the audit of the Consolidated Annual Financial Results
Opinion
We have audited the accompanying consolidated annual financial results of BLS International Services Limited (hereinafter referred to as the ‘Parent Company’) and its subsidiaries including step down subsidiaries (the Parent Company and its subsidiaries including step down subsidiaries together referred to as “the Group”) for the quarter and year ended March 31, 2026 (“the Statement”), attached herewith, being submitted by the Parent Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial statements of the subsidiaries and step down subsidiaries and management certified financial statements/ results of the subsidiaries, the Statement:
i. includes the annual financial results of the subsidiaries including step down subsidiaries (Refer Annexure-1)
ii. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
iii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive income and other financial information of the Group for the quarter and year ended March 31, 2026.
Basis of Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under Section 143(10) of the Companies Act, 2013, as amended (“the Act”). Our responsibilities under those Standards are further described in the “Auditor’s Responsibilities for the Audit of the Consolidated Financial Results” section of our report. We are independent of the Group in accordance with the ‘Code of Ethics’ issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the consolidated financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics.
Plot No. 68, Okhla Industrial Area, Phase-III, New Delhi-110020
Tel: +91-11-4670 8888 E-mail: [email protected]
www.sskmin.com
Page 2 of 7
SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
We believe that the audit evidence obtained by us, along with the consideration of audit report of the other auditors referred to in paragraph (a) of the “Other Matters” paragraph below and information provided by the Company for management certified financial statements/ results, is sufficient and appropriate to provide a basis for our opinion on the Statement.
Emphasis of Matter
We draw attention to the fact the subsidiary namely BLS E-Solutions Private Limited, BESolPL, has not undertaken any revenue-generating activities following the completion of its government contract. The management is making efforts to secure new contracts for revenue from operations. The Company has surplus funds which are considered adequate to meet its operational expenses for the next financial year, and accordingly, the financial statements have been prepared on a going concern basis.
Our opinion is not modified in respect of the above matters.
Management’s and Board of Directors’ Responsibilities for the Consolidated Financial Results
The Statement has been prepared on the basis of the consolidated annual financial statements. The Parent Company’s Management and Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the consolidated net profit and other comprehensive income and other financial information of the Group in accordance with the accordance with the recognition and measurement principles laid down in Indian Accounting. Standards prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of their respective companies included in the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Parent Company, as aforesaid.
In preparing the Statement, the Board of Directors of the companies included in the Group are responsible for assessing the ability of their respective company included in the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
The Board of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of their respective companies included in the Group.
SS KOTHARI MEHTA
& CO. LLP
CHARTERED ACCOUNTANTS
Auditor’s Responsibilities for the Audit of the Consolidated Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of consolidated financial statements on whether the Group has adequate internal financial controls with reference to consolidated financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
-
Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.
-
Evaluate the overall presentation, structure, and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group of which we are the independent auditors to express an opinion on the Statement. We are responsible for the direction, supervision, and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
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SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
We communicate with those charged with governance of the Parent Company and such other entities included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
Other Matters
a. The Statement include the audited financial results of twenty two (22) subsidiaries (including 20 step down subsidiaries), whose Financial Statements reflect total assets (before consolidation adjustment) of Rs. 3,52,270.50 lakhs as at March 31, 2026, total revenue (before consolidation adjustment) of Rs. 42,537.02 lakhs and Rs. 1,59,531.78 lakhs and total net profit after tax (before consolidation adjustment) of Rs. 1,02,283.03 lakhs and Rs. 1,50,344.38 lakhs, total comprehensive income (before consolidation adjustment) of Rs. 1,13,023.83 lakhs and Rs. 1,68,090.32 lakhs for the quarter and year ended March 31,2026 respectively and net cash inflow of Rs. 15,353.68 lakhs for the year ended March 31, 2026, which have been audited by their respective independent auditors. The independent auditors' reports on financial statements of these subsidiaries including step down subsidiaries have been furnished to us and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries including step down subsidiaries, is based solely on the report of such auditors and the procedures performed by us as stated in paragraph above.
b. The Statement include the unaudited financial result of forty eight (48) subsidiaries including step down subsidiaries whose financial information reflect total assets (before consolidation adjustment) of Rs. 30,800.99 lakhs as at March 31, 2026, total revenue (before consolidation adjustment) of Rs. 6,846.72 lakhs and Rs. 36,688.91 lakhs and total net profit/ (loss) after tax (before consolidation adjustment) of Rs. (763.90) lakhs and Rs. 2,218.41 lakhs, total comprehensive income/ (loss) (before consolidation adjustment) of Rs. (763.90) lakhs and Rs. 2,218.41 lakhs for the quarter and year ended March 31, 2026 respectively and net cash outflow of Rs. 311.36 lakhs for the year ended March 31, 2026. This unaudited financial information has been furnished to us by the Board of Directors and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries including step down subsidiaries is based solely on such unaudited financial information certified by the management.
In our opinion and according to the information and explanations given to us by the Board of Directors, these financial information is not considered material to the Group.
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S S KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
Further, certain subsidiaries including step down subsidiaries which are located outside India, whose annual financial statements have been prepared in accordance with accounting principles generally accepted in their respective countries. The Parent Company’s management has converted the financial statements of such subsidiaries from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Parent Company’s management. Our opinion, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based on the audit report of other auditors/management certified accounts and the conversion adjustments prepared by the management of the Parent Company and audited by us.
Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of respective independent auditors and the financial information certified by the Board of Directors.
c. The Statement includes the consolidated results for the quarter ended March 31, 2026 being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the end of the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
Our opinion is not modified in respect of the above matter.
For S S KOTHARI MEHTA & CO. LLP
Chartered Accountants
Firm Registration Number - 000756N/N500441
AMIT GOEL
Digitally signed by AMIT GOEL
Date: 2026.05.19
22:01:33 +05'30'
AMIT GOEL
Partner
Membership No. 500607
Place: New Delhi
Date: May 19, 2026
UDIN: 26500607YSCAZC3870
SS KOTHARI MEHTA
& CO. LLP
CHARTERED ACCOUNTANTS
Annexure 1 to the Independent Auditor’s report to the BLS International Services Limited dated May 19, 2026
List of entities included in the Statement
Parent Company
1) BLS International Services Limited
Subsidiaries/step down subsidiaries
1) BLS International FZE, UAE
2) Zero Mass Private Limited
3) Consular Outsourcing BLS Services Inc., USA
4) BLS International Services Canada Inc.
5) BLS International Services Singapore Pte. Limited
6) BLS International Services Malaysia SDN. BHD.
7) BLS International Services Limited, Hongkong
8) BLS International Services (UK) Limited
9) BLS International Services, LLC UAE
10) Balozi Liaison Services International Limited, Kenya
11) BLS International Services S. R. L., Italy
12) BLS International Vize Hizmetleri Limited Sirketi., Turkey
13) BLS Worldwide PTY Limited (South Africa)
14) BLS E-Services Limited
15) BLS E-Solutions Private Limited
16) BLS IT-Services Private Limited
17) Starfin India Private Limited
18) Reired BLS International Services Private Limited (till Dec 30, 2025)
19) BLS Kendras Private Limited
20) BLS International Employees Welfare Trust
21) PT. BLS International Service, Indonesia
22) BLS International Cameroon Limited
23) BLS MOR SERVICES
24) BLS Kazakhstan
25) BLS Visa Services SARL, Algeria
26) BLS Services Worldwide Limited, Nigeria
27) BLS International Travel & Tourism, Saudi Arabia
28) BLS International USA Inc.
29) BLS International Peru S.A.C
30) BLS International S.A.S, Columbia
31) BLS, Egypt
32) BLS Solutions Private Limited, Bangladesh
33) iData Danismanlik Ve Hizmet Dis Tic. A.S., Turkey
34) Visametric Vize Hiz. Ve. Dan. Dis. Tic. A.S., Turkey
35) Visametric LLC, Azerbaijan
36) Rahyab Gozar Arta, Iran
37) VisaMetric LLC, Kyrgyzstan
38) VisaMetric LLC, Kazakhstan
39) VisaMetric LLC, Russia
40) VisaMetric LLC, Kosovo
41) VisaMetric LLC, Tajikistan
42) VisaMetric LLC, Uzbekistan
43) VisaMetric d.o.o, Bosnia
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SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
44) VisaMetric Dooel, Macedonia
45) VisaMetric Albania SHPK, Albania
46) VisaMetric DOO, Serbia
47) Visametric Ireland Limited, Ireland
48) Aadifidelis Solutions Private Limited
49) Sai Finent Advisory Private Limited
50) BLS United Ventures, Mexico
51) BLS UK Hotels Limited
52) Citizenship Invest DMCC, UAE
53) Citizenship Invest Iraq
54) Citizenship Invest Turkey
55) SLW Media Private Limited
56) BLS International Jordan LLC, Jordan
57) BLS Worldwide Services Inc., Philippines (w.e.f. Apr 02, 2025)
58) BLS Worldwide, Tunisia (w.e.f. Apr 01, 2025)
59) BLS International LLC, Armenia (w.e.f. Apr 01, 2025)
60) BLS international Consultancy & Services, Qatar (w.e.f. Apr 01, 2025)
61) BLSEC SAS, Ecuador (w.e.f. Apr 01, 2025)
62) BLS Venture SRL, Dominican Republic (w.e.f. Apr 10, 2025)
63) Beijing Biaoshi Enterprise Consulting Co. Ltd., China (w.e.f. Apr 01, 2025)
64) Beijing Biaoshi Private Entry Exit Service Co. Ltd, China (w.e.f. Apr 01, 2025)
65) Shanghai Biaoshi Private Entry Exit Service Co. Ltd, China (w.e.f. Apr 01, 2025)
66) Guangzhou Biaoshi Private Entry Exit Service Co.Ltd, China (w.e.f. Apr 01, 2025)
67) Chengdu Biaoshi Private Entry Exit Service Co. Ltd, China (w.e.f. Apr 01, 2025)
68) Hangzhou Biaoshi Private Entry Exit Service Co. Ltd, China (w.e.f. Apr 01, 2025)
69) Beijing Kang Cheng Entry & Exit Service Co. Ltd, China (w.e.f. Apr 01, 2025)
70) Shanghai Hai Rui Exit & Entry Co., Ltd, China (w.e.f. Apr 01, 2025)
71) Guangzhou Kang Cheng exit & entry Co. Ltd, China (w.e.f. Apr 01, 2025)
72) Chengdu Kang Cheng Exit & Entry Co., Ltd, China (w.e.f. Apr 01, 2025)
73) Bls International (Thailand) Ltd. (w.e.f. Apr 01, 2025)
74) Consular Outsourcing Services Ireland Limited (w.e.f. Aug 29, 2025)
75) Consular Outsourcing Services Kenya Limited (w.e.f. Sep 02, 2025)
76) BLS E Services Employees Welfare Trust
77) BLS International Cyprus Limited (w.e.f. Oct 29, 2025)
78) BLS International Services(Senegal) SARL (w.e.f. Oct 29, 2025)
79) Trefeddian Hotel (Aberdovey) Limited (w.e.f. Oct 02, 2025)
80) MVA International WLL, Bahrain (w.e.f. Feb 02, 2026)
BLS INTERNATIONAL SERVICES LIMITED
CIN: L51909DL1983PLC016907
Regd. Office: G-4, B-1, Extension, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi-110044.
Telephone number: 011-45795002; Fax: 011-23755264; Email: [email protected]; Website: www.blsinternational.com
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
Amount in (₹) in lakhs
| Sl. No | Particulars | Quarter ended | Year Ended | |||
|---|---|---|---|---|---|---|
| March 31, 2026 | ||||||
| (Refer note- 4) | December 31, 2025 | March 31, 2025 | ||||
| (Refer note- 4) | March 31, 2026 | March 31, 2025 | ||||
| Audited | Unaudited | Audited | Audited | Audited | ||
| I | Revenue from operations | 6,894.44 | 5,043.25 | 2,535.91 | 20,992.36 | 13,848.63 |
| II | Other income | 7,745.97 | 2,286.55 | 2,385.45 | 10,688.22 | 4,666.43 |
| III | Total income (I+II) | 14,640.41 | 7,329.80 | 4,921.36 | 31,680.58 | 18,515.06 |
| IV | EXPENSES | |||||
| (a) Cost of services | 1,973.25 | 1,240.61 | 1,400.23 | 6,095.25 | 4,873.02 | |
| (b) Employees benefits expenses (Refer note -5) | 2,496.37 | 1,948.83 | 1,811.72 | 7,828.46 | 6,533.99 | |
| (c) Finance costs | 225.34 | 150.90 | 164.59 | 682.18 | 383.07 | |
| (d) Depreciation and amortization expense | 755.63 | 536.40 | 421.33 | 2,144.05 | 1,327.23 | |
| (e) Other expenses | 1,443.53 | 1,092.16 | 860.41 | 4,228.17 | 3,086.18 | |
| Total expenses (IV) | 6,894.12 | 4,968.90 | 4,658.28 | 20,978.11 | 16,203.49 | |
| V | Profit before exceptional items & tax (III-IV) | 7,746.29 | 2,360.90 | 263.08 | 10,702.47 | 2,311.57 |
| VI | Exceptional items | - | - | - | - | - |
| VII | Profit before tax (V-VI) | 7,746.29 | 2,360.90 | 263.08 | 10,702.47 | 2,311.57 |
| VIII | Tax expense | |||||
| Current tax | 623.60 | 111.31 | 166.61 | 833.44 | 243.89 | |
| Deferred tax | -36.21 | (46.47) | (64.19) | (150.51) | (131.18) | |
| Tax for earlier years | (0.00) | (233.10) | 2.39 | (233.10) | 2.39 | |
| Total tax expenses (VIII) | 587.40 | (168.26) | 104.81 | 449.83 | 115.10 | |
| IX | Profit for the period/year (VII-VIII) | 7,158.90 | 2,529.16 | 158.27 | 10,252.64 | 2,196.47 |
| X | Other comprehensive income (OCI) | |||||
| Items that will not be reclassified to profit or loss | ||||||
| (i) Re-measurements gain/(loss) on defined benefit plans | 76.50 | (24.67) | (25.45) | 51.83 | (30.66) | |
| (ii) Tax on (i) above | (19.25) | 6.21 | 6.40 | (13.04) | 7.72 | |
| Total other comprehensive income, net of tax | 57.25 | (18.46) | (19.05) | 38.79 | (22.94) | |
| XI | Total comprehensive income for the period/year (IX+X) | 7,216.15 | 2,510.70 | 139.22 | 10,291.43 | 2,173.53 |
| XII | Paid-up equity share capital (Face value per share Re. 1/-) | 4,117.41 | 4,117.41 | 4,117.41 | 4,117.41 | 4,117.41 |
| XIII | Other Equity | 5,093.58 | 6,566.60 | |||
| XIV | Earning Per Share (of Re. 1/- each) | |||||
| (for quarterly periods are not annualized) | ||||||
| (a) Basic | 1.74 | 0.61 | 0.04 | 2.49 | 0.53 | |
| (a) Diluted | 1.74 | 0.61 | 0.04 | 2.49 | 0.53 |
Notes to standalone financial results :
-
These results have been prepared in accordance with the recognition and measurement principles of the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013, other accounting principles generally accepted in India and are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended).
-
The Company is engaged in the business of "visa and other allied services" and this is the only reportable segment in accordance with IND AS-108 'Operating Segment'.
-
The above results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meeting held on May 19, 2026. Audit of these results has been carried out by the Statutory Auditors.
-
The figures for the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the respective financial year which were subject to limited review by the statutory auditor of the Company.
-
On November 21, 2025, the Government of India notified the four Labour Codes, consolidating 29 prior laws. The Ministry of Labour & Employment released draft Central Rules and FAQs to assess financial impacts. The Company has assessed and disclosed the incremental impact consisting of gratuity of Rs. 38.51 lakh within the employee benefit expense. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as needed.
-
The Board of Directors at its meeting held on May 19, 2026 have recommended a payment of final dividend of Rs.0.50 per equity share of Rs. 1/- each, subject to the approval of its shareholders at the ensuing Annual General Meeting.
-
The previous period figures have been regrouped/reclassified wherever necessary.
Place : New Delhi
Date : May 19, 2026
For BLS International Services Limited
Shikhar Aggarwal
Jt. Managing Director
DIN No. 06975729
BLS INTERNATIONAL SERVICES LIMITED
(CIN No.: L51909DL1983PLC016907)
STATEMENT OF STANDALONE ASSETS AND LIABILITIES AS AT MARCH 31, 2026
Amount in (₹) in lakhs
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Non-Current Asset | ||
| Property, plant & equipment | 4,617.76 | 1,781.75 |
| Intangible assets | 10.47 | 19.75 |
| Capital work in progress | 175.54 | - |
| Right to use assets | 11,120.96 | 6,915.11 |
| Investments in subsidiaries | 4,997.42 | 3,415.23 |
| Financial assets: | ||
| Other financial assets | 1,308.12 | 1,211.76 |
| Deferred tax assets (net) | 434.55 | 297.09 |
| Current tax assets (net) | 162.77 | 134.24 |
| Total non- current assets | 22,827.59 | 13,774.93 |
| Current Asset | ||
| Financial assets: | ||
| Investments | 554.92 | 785.99 |
| Trade receivables | 2,140.09 | 1,369.00 |
| Cash and cash equivalents | 871.28 | 3,047.28 |
| Bank balances other than cash and cash equivalents | 1,210.66 | 1,674.10 |
| Loans | 377.50 | 15.00 |
| Other financial assets | 316.95 | 765.40 |
| Other current assets | 986.30 | 507.55 |
| Total current assets | 6,457.70 | 8,164.32 |
| TOTAL ASSETS | 29,285.29 | 21,939.25 |
| EQUITY & LIABILITIES | ||
| Equity | ||
| Equity share capital | 4,117.41 | 4,117.41 |
| Other equity | 5,093.58 | 6,566.60 |
| Total equity | 9,210.99 | 10,684.01 |
| Liabilities | ||
| Non - Current Liabilities | ||
| Financial liabilities: | ||
| Lease liabilities | 10,348.66 | 6,337.32 |
| Provisions | 280.70 | 234.48 |
| Total non-current liabilities | 10,629.36 | 6,571.80 |
| Current liabilities | ||
| Financial liabilities: | ||
| Lease liabilities | 1,278.16 | 691.04 |
| Trade payable | ||
| (a) total outstanding dues to micro enterprises and small enterprises | 4.48 | 21.56 |
| (b) total outstanding dues to creditors other than micro enterprises and small enterprises | 888.95 | 2,169.74 |
| Other financial liabilities | 1,663.38 | 980.99 |
| Other current liabilities | 5,502.78 | 771.32 |
| Provisions | 107.19 | 48.79 |
| Total current liabilities | 9,444.94 | 4,683.44 |
| TOTAL EQUITY AND LIABILITIES | 29,285.29 | 21,939.25 |
For BLS International Services Limited
Place: New Delhi
Date: May 19, 2026
Shikhar Aggarwal
Joint Managing Director
DIN: 06975729
BLS INTERNATIONAL SERVICES LIMITED
(CIN No.: L51909DL1983PLC016907)
STANDALONE AUDITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2026
Amount in (₹) in lakhs
| Particulars | For the year ended March 31, 2026 | For the year ended March 31, 2025 |
|---|---|---|
| Cash flow from operating activities | ||
| Profit for the year (before tax) | 10,702.47 | 2,311.57 |
| Adjustments for: | ||
| Depreciation & amortization expense | 2,144.05 | 1,327.23 |
| Profit on sale of property, plant and equipment (Net) | (0.20) | 1.17 |
| Realized gain on sale of investment | (136.38) | (33.59) |
| Unwinding of security deposit | (161.57) | (66.49) |
| Unrealized gain on mutual fund | - | (5.57) |
| Finance costs | 682.18 | 383.07 |
| Dividend income | (10,244.35) | (4,397.82) |
| Share based payment expense | 357.02 | 1,137.11 |
| Interest income | (130.17) | (200.19) |
| Unrealized foreign exchange fluctuation gain (net) | - | 12.23 |
| Liabilities written back | - | (7.99) |
| Assets and balances written off | 41.19 | 43.61 |
| Bad debts written off | 87.78 | - |
| Operating profit before working capital change | 3,342.02 | 504.34 |
| Adjustments for: | ||
| (Increase)/decrease in trade receivables | (858.87) | 456.22 |
| (Increase)/decrease in other financial assets | 254.06 | (148.75) |
| (Increase)/decrease in other current assets | (153.90) | (163.75) |
| (Decrease)/increase in long term provision | 46.22 | 76.29 |
| (Decrease)/increase in trade payable | (1,297.88) | 1,798.31 |
| (Decrease)/increase in other financial current liabilities | 494.10 | 169.65 |
| (Decrease)/increase in other current liabilities | 4,962.24 | 64.03 |
| (Decrease)/increase in short term provision | 110.23 | 17.79 |
| Cash from operations | 6,898.22 | 2,774.13 |
| Direct taxes | (670.07) | (313.35) |
| Net cash flow generated from operating activities (A) | 6,228.15 | 2,460.78 |
| Cash flow from investing activities | ||
| Purchase of property, plant and equipment and Intangible assets | (4,112.67) | (996.12) |
| Sales proceeds from property, plant and equipment | 17.53 | - |
| Investment in Subsidiaries | (1,582.19) | (80.24) |
| Proceeds from maturity/(Investment) in term deposits | 641.38 | (157.57) |
| Purchase of current investments | 367.45 | (433.59) |
| Loan received to subsidiaries (net) | (362.50) | 124.97 |
| Dividend received from subsidiary company | 10,244.35 | 4,397.82 |
| Interest received | 136.29 | 126.93 |
| Net cash flow generated from investing activities (B) | 5,349.64 | 2,982.20 |
| Cash flow from financing activities | ||
| Repayment of lease liabilities | (1,418.85) | (896.42) |
| Dividend Paid (including dividend distribution tax) | (12,334.94) | (2,058.71) |
| Net cash flow used in financing activities (C) | (13,753.79) | (2,955.13) |
| Net increase /(decrease) in cash and cash equivalent (A+B+C) | (2,176.00) | 2,487.85 |
| Cash and cash equivalent at the beginning of the period | 3,047.28 | 559.43 |
| Cash and cash equivalent at the end of the year | 871.28 | 3,047.28 |
For BLS International Services Limited
Place : New Delhi
Date: May 19, 2026
Shikhar Aggarwal
Joint Managing Director
DIN: 06975729
SS KOTHARI MEHTA
& CO. LLP
CHARTERED ACCOUNTANTS
Independent Auditor’s Report on the Quarterly and Year to date audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
To
The Board of Directors
BLS International Services Limited
New Delhi
Report on the audit of Standalone Annual Financial Results
Opinion
We have audited the accompanying standalone annual financial results of BLS International Services Limited (hereinafter referred to as the “Company”) for the quarter and year ended March 31, 2026 (the “Statement”), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended (“the Act”). Our responsibility under those standards are further described in the “Auditor’s Responsibilities for the Audit of the Annual Standalone Financial Results” section of our audit report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion on the Statement.
Plot No. 68, Okhla Industrial Area, Phase-III, New Delhi-110020
Tel: +91-11-4670 8888 E-mail: [email protected]
www.sskmin.com
SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
Management’s and Board of Director’s Responsibilities for the Standalone Financial Results
The Statement has been prepared on the basis of the standalone annual financial statements. The Company’s Management and Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of Standalone financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Page 2 of 3
SS KOTHARI MEHTA & CO. LLP
CHARTERED ACCOUNTANTS
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made in the Statement by the management and Board of Directors.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other matters
The Statement includes the results for the quarter ended March 31, 2026 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
For S S KOTHARI MEHTA & CO. LLP
Chartered Accountants
Firm Registration Number - 000756N/N500441
AMIT GOEL
Digitally signed by AMIT GOEL
Date: 2026.05.19 21:59:52
+05'30'
AMIT GOEL
Partner
Membership No. 500607
Place: New Delhi
Date: May 19, 2026
UDIN: 26500607NZPGTX9094
Page 3 of 3
BLS INTERNATIONAL
www.blsinternational.com
Annexure B
May 19, 2026
| National Stock Exchange of India Ltd.,
Exchange Plaza, C-1 Block G, Bandra Kurla
Complex Bandra [E], Mumbai – 400051 | BSE Limited,
Phiroze Jeejeebhoy Towers, Dalal Street,
Fort, Mumbai - 400 001 |
| --- | --- |
| NSE Scrip Symbol: BLS | BSE Scrip Code: 540073 |
Subject: Declaration in respect of Unmodified Opinion on Audited Standalone and Consolidated Financial Results for the Fourth Quarter and Financial Year ended on March 31, 2026 as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Dear Sir / Madam,
With reference to the above captioned subject, we would like to inform your good office that as per Regulation 33 of the SEBI (LODR) Regulations, 2015, the Statutory Auditor of the Company has expressed their unmodified opinion(s) on the Audited Standalone and Consolidated Financial Results of the company for the financial year ended March 31, 2026. The Audit Report issued by the Statutory Auditor of the Company "M/s. S S Kothari Mehta & Co. LLP", Chartered Accountants (FRN No. 000756N/N500441), does not contain any modified opinion that seeks further clarification with respect to its impact thereon for the submission of Standalone and Consolidated Annual Audited Financial Results for the financial year ended March 31, 2026.
You are requested to take the same on your records.
For BLS International Services Limited
Amit Sudhakar
Chief Financial Officer
BLS International Services Limited
Registered office: G-4B-1 Extension, Mohan co-operative Indl, Estate, Mathura Road, New Delhi - 110044 (INDIA)
+91-11-45795002 • +91-11-23755264 [email protected]
CIN No. : 540073 | 400051 | 0016007
BLS INTERNATIONAL
www.blsinternational.com
Annexure - C
Disclosure of information pursuant to Regulation 30 (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026:
| Sr. No. | Particular | APPOINTMENT UNDER THE CATEGORY OF SENIOR MANAGEMENT PERSONNEL (SMP) | RE-APPOINTMENT AS NON-EXECUTIVE INDEPENDENT DIRECTOR | APPOINTMENT AS INTERNAL AUDITORS |
|---|---|---|---|---|
| 1. | Reason for change viz., appointment, reappointment, resignation, removal, death, cessation or otherwise | Appointment of Mr. Gaurav Aggarwal as President-Business Development ("President-BD") of the Company (Designated as SMP) | Re-appointment of Mr. RSP Sinha (DIN: 00300530), as an Non-Executive Independent Director of the Company for second term of five consecutive years w.e.f. August 17, 2026 beyond the age of 75 years | Appointment of M/s. Nangia & Company, LLP, Chartered Accountant (Firm Reg. No. 002391C/N500069) as the Internal Auditors of the Company |
| 2. | Date of appointment/reappointment/cessation (as applicable) & term of appointment/reappointment | May 19, 2026 | ||
| Full Time Employment | August 17, 2026 | |||
| The appointment is made for a period of 5 years from effective date of the appointment. | May 19, 2026 | |||
| M/s. Nangia & Company, LLP, is appointed as Internal Auditor of the Company to conduct the Internal Audit of the Company for FY 2026-27. | ||||
| 3. | Brief Profile (in case of appointment) | Mr. Gaurav Aggarwal is a seasoned professional with over 12 years of experience in managing global projects, international relations. He has played a significant role in expanding international business operations and strengthening the Company's presence across global markets. His expertise are in government outsourcing services, diplomatic mission support, visa and consular services. | Mr. Ram Sharan Prasad Sinha (DIN: 00300530) is an alumni of Magadh University and Patna University. Mr. Sinha has served as Director (Finance) of Mahanagar Telephone Nigam Limited, Videsh Sanchar Nigam Limited and Hindustan Organic Chemical Limited. In the past, he has served as THDC India Limited as Dy. General Manager (Finance). He has vast experience in finance function of government companies. | Name of Auditor: Nangia & Co., LLP, Chartered Accountants. Website: www.nangia.com |
| Field of Experience: Having working experience and proficiency in all matters related to Finance and Accounts including Human Resource and other Admin processes. | ||||
| 4. | Disclosure of relationships between Directors (in case of appointment of Director) | Not Applicable | He is not related to any Directors of the Company | Not Applicable |
BLS International Services Limited
Registered office: G-4B-1 Extension, Mdhan co-operative Indl, Estate, Mathura Road, New Delhi - 110044 (INDIA)
+91-11-45795002 • 91-11-23755284 [email protected]
CIN No.: L51909DL1983PLC016907