Is DIY online visa application an overhang on this stock?
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Pace of growth has slowed
It was trading at high valuation
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won adhar service contract worth rs 2055.35cr, spread over 6 years.
hope it doesnât affect opm, and they are able to sustain it
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Does any one have clarity if this business is to be executed under âBLS Servicesâ entity or parent BLS international. Reason I ask is usually these kind of services are being provided by the subsidiary. Stock exchange notification does not mention BLS Services, hence looking for clarification.
Will have to wait for concall to know the margin impact if this is being planned for execution under BLS International
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They said the blended margin will go down slightly. as adhar business is 20% margin and visa business margin will be steady, so blened will go down from previous levels.
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Hello
What was the grwoth rate of BLS in past years?
Pls tell the pace of growth in percentage terms it would be helpful.
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From what I understand from concalls they had good business from china coming but got disturbed when india and china flights were stopped with recent developments on relations with china and going back to direct flights, bls might benefit similar data on latest Q1 call ad well
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This is a good question, does anyone know if the order was under BLS e-services or BLS International? From every source it seems like a BLS international order but I thought that the e-services business was set-up exactly for this purpose ie. for domestic e-governance orders.
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Same observation with me but it seems they might have qualified for this project under BLS and not under their subsidiary and hence the order in BLS.
Govt departments may not allow a change in company even if its a group company.
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CNBC interview of BLS re the UIDAI order.
6 year project
To open 300 kendras
Expect to employ 3,000 people
These will be exclusive UIDAI centres (unclear on local competition to these centres)
Revenue model is pre-transaction based
Expect to do 2 cr transactions per year. Last year UIDAI did 17cr transactions
Expect to make a 20% margin
Will take about 6 months to a year to set up. Margins expected to stabilise after a year or so
Company-level blended margin likely to fall due to this project
Could see greater upside if number of transactions increase
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Hi, can you please share from where did you collect revenue and ebitda numbers for VFS global and TLS contact since both are private companies. Also BLS internationalâs revenue and ebitda numbers are a bit inaccurate. Really want to know the source
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It seems the reason might be adequate Capital availability.
Also some tenders have previous experience as a criterion where BLS International might have qualified technically.
after reading analysts report, I noticed something all of them are valuing it differently some are on sotp and some are on ebita multiple. it feels like they are unable to compare or value it vis-vis by some peer. that being said after looking more a common concern over investor is that growth is lead by their e-services and visa buis is slowing dowing. and when I checked the visa buis was 10% growth but with their higher margins but even with that 10% growth and no acq. visa buis alone could be 770PAT by fy28 and combined it could be 1000 PAT by 28.
even at a very base pe of 25 it could be 25kcr mcap by 28, i.e 64.5 upside with 18%xirr and a re-rate growth lead by acquistions are optionality.
disc: invested and biased, allocation 6.5%
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Hit piece on BLS with some damning allegations on their service quality and other disturbing events.
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Thanks for sharing. Clearly a hit piece. Some big allegations. Beginning of the article spent too much space on Canada issue which is probably an unusual situation. But Estonia and harassment cases need to be checked out.
This company produces a lot of cash but the article is right, not sure whether it can be fully repatriable without a big tax hit.
P.s. invested
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https://nsearchives.nseindia.com/corporate/BLS_02102025175053_Intimation_of_acquisition.pdf
BLS intl bought a hotel in UK
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I read that and am intrigued. Yet another acquisition that does not make sense to me and seems like a diworsification.
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at 78 cr and two time sales not bad. Checked the property. It commands premium and is quiet at deal at that value. Property is quiet good. Though agree on the question of how it creates synergies with business!!
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This website Inventiva India claims to have 3083 X followers while in reality it just has 372 followers. Looks very dubious to me.
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MEA ordered two-year debarment from MEA/India Mission tenders; existing contracts unaffected (Order dated Oct 9, 2025)
Order issued to debarred from participation in future
tenders of the MEA and India Mission abroad for
period of two (2) years.
Order for debarment has been issued on the account
of allegations including court cases and complaints of
applicants.
This debarment shall not affect the existing contracts
of the MEA
I guess the bad customer service is catching up to them
Disclosure: Invested
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