BLS E-Services

NSE: BLSE · IT Enabled Services

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52W Range₹124 – ₹340

Snapshot

Unlock BLS E-Services's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

BLS E-Services is a technology-enabled digital service provider that facilitates assisted e-services and e-governance solutions. The company operates a widespread network of access points to deliver public utility, financial, and social welfare services to citizens across urban and rural India.

Business Model

The company generates revenue by acting as a bridge between government entities, businesses, and citizens through its network of service access points. It leverages its digital infrastructure to provide essential public and financial services on a fee-for-service basis.

Growth Outlook

Growth is driven by the increasing digitisation of government services and the expansion of financial inclusion initiatives in semi-urban and rural areas. The company continues to scale its network of access points to capture rising demand for assisted digital services.

Key Risks

  • Regulatory Dependency. The company's operations are heavily reliant on government policies and e-governance mandates, making it vulnerable to shifts in public sector digitisation strategies.
  • Operational Concentration. As a subsidiary of BLS International Services, the company may face risks associated with inter-company dependencies and shared operational resources.
  • Technological Disruption. Rapid advancements in direct-to-consumer digital platforms could reduce the demand for assisted e-service access points.
  • Data Security. Handling sensitive citizen and financial data exposes the company to significant cybersecurity threats and stringent data protection compliance requirements.

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Key Metrics

REVENUE

₹1,178 Cr

TTM · consolidated

+71.2%YoY

NET PROFIT

₹70 Cr

TTM · consolidated

+10.5%YoY

EPS

₹6.39

TTM · consolidated

+4.9%YoY

RETURN ON EQUITY

14.0%

TTM · consolidated

+0.8 ppYoY

RETURN ON CAPITAL EMPLOYED

17.4%

TTM · consolidated

+1.0 ppYoY

P/E

23.8×

Q1 FY27 · consolidated

23.8 vs 45.3x5Y avg

EV/EBITDA

26.4x

Q1 FY27 · consolidated

26.4 vs 61.9x5Y avg

EBITDA MARGIN

8.6%

TTM · consolidated

-4.8 ppYoY

NET PROFIT MARGIN

6.1%

Q1 FY27 · consolidated

-1.1 ppYoY

DEBT TO EQUITY

0.0x

Q1 FY27 · consolidated

+0.00xYoY

Peers · IT Enabled Services

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
BLS E-ServicesBLSE
₹2,774 Cr23.8×26.3771.2%8.6%14.0%17.4%-12.8%
Network People Services Technologies Ltd.NPST
₹3,328 Cr71.4×42.08—33.4%16.4%21.8%-14.1%
eMudhra LimitedEMUDHRA
₹2,827 Cr24.3×15.1829.7%24.7%14.1%15.8%-47.0%
Sasken Technologies LimitedSASKEN
₹2,544 Cr30.2×14.8251.5%13.9%10.4%13.2%+21.8%
Protean eGov Technologies LimitedPROTEAN
₹2,485 Cr29.9×14.2321.4%16.5%8.0%10.1%-27.9%
Zaggle Prepaid Ocean Services LimitedZAGGLE
₹2,114 Cr16.2×9.4144.5%10.9%9.8%13.1%-57.8%

As of Q1 FY27

Financials