Bls International Services Ltd. · NSE:BLS
Bls International Services — Q4 & FY21 Earnings Presentation
31 slides from Bls International Services's earnings presentation, Jun 15, 2021
Slide 1: Regulation 30 disclosure letter to stock exchanges
June 15, 2021 National Stock Exchange of India BSE Limited, Metropolitan Stock Exchange Ltd., of India Ltd., Exchange Plaza, C-1 Block G, Bandra Phiroze Jeejeebhoy Vibgyor Towers, 4 th Floor, Plot Kurla Complex Bandra [E], Mumbai – Towers, No. C62, G - Block, Opp. Trident 400051 Dalal Street, Fort,
Slide 2: Investor Presentation Q4 & FY21
Investor Presentation Q4 & FY21 BSE: 540073 | NSE: BLS | INE153T01027 www.blsinternational.com
Slide 3: Disclaimer
DISCLAIMER This presentation and the accompanying slides (the “Presentation”), which have been prepared by BLS International Services Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: BLS International at a Glance
BLS INTERNATIONAL AT A GLANCE 1 of 3 Players in global visa, passport and citizen services 16 Years of global experience ~ 52 mn Applications processed ₹ 277 cr 66+ 46+ Countries Centres Government as Net cash (FY20) of operations 12,000 across the globe a client across the globe 17% Abu Dhabi | Afg
Slide 5: What's Inside
WHAT’S INSIDE 01 Q4 & FY21 Highlights 02 Company Overview 03 Competitive Edge & Strategic Growth 04 Financial Overview
Slide 6: Q4 & FY21 Highlights
a4 & FY21 HIGHLIGHTS RLS INTERNATIONAL
Slide 7: Q4 & FY21 Consolidated Statement of Profit and Loss
Q4 & FY21 – CONSOLIDATED STATEMENT OF PROFIT AND LOSS ₹ crores Q4 FY21 Q4 FY20 FY21 FY20 Revenue 144.6 151.2 478.4 786.1 4.4% Y-o-Y Operating Revenue Cost of Service 104.5 98.5 336.5 549.8 42.3% Y-o-Y EBITDA Employee expenses 12.6 12.7 43.7 67.5 Other Expenses 17.3 33.0 58.4 85.5 90.6% Y-o-Y PBT EBI
Slide 8: Consolidated Balance Sheet as on 31st March 2021
CONSOLIDATED BALANCE SHEET AS ON 31st MARCH 2021 ₹ crores March 21 March 20 ₹ crores March 21 March 20 Current Assets 414.1 387.0 Current Liabilities 36.1 38.0 -Trade Receivables 100.9 112.7 -Borrowings 0.0 0.0 -Cash and Bank 277.4 239.3 -Trade Payables 9.6 16.5 -Financial Assets 27.5 25.9 -Other Cu
Slide 9: Key Operational Highlights – Q4FY21
KEY OPERATIONAL HIGHLIGHTS – Q4FY21 ▪ Resumption of operations: BLS International has resumed accepting visa applications for India in Canada, China, Russia, Singapore, Malaysia, UAE, Oman, Norway & Hong Kong; for Lebanon in India, Thailand & Nepal; for Brazil in China & Lebanon; for Thailand in Ind
Slide 10: Company Overview
i i BPG | COMPANY OVERVIEW RLS INTERNATIONAL
Slide 11: Company Overview
COMPANY OVERVIEW ▪ Established in 2005, BLS International Services Ltd. (BLS) ) is a tech enabled specialty service provider for government and diplomatic missions worldwide. ▪ BLS has partnered with more than 46 governments across the world to offer outsourced visa, passport, consular services, ver
Slide 12: Experienced Leadership Team
EXPERIENCED LEADERSHIP TEAM Nikhil Gupta Shikhar Aggarwal Managing Director Joint Managing Director ▪ Over 35 years of experience in consulting, finance and ▪ Young and dynamic professional with proactive initiative taking leadership roles in both MNCs and Indian conglomerates strategy and a strong
Slide 13: Timeline
TIMELINE Started visa processing services Rapid expansion, added seven Established leading position Continued expansion in core in niche, untapped market Indian missions abroad with major contracts; first listed business and citizen services; visa company consolidation of operations ▪ Received first
Slide 14: Segment Overview
SEGMENT OVERVIEW Visa Processing Value Added Services Amongst top three players in the visa outsourcing Standard Premium PLATINUM service industry with over 16 years of experience in Photocopy, Premium Lounge, Mobile Biometric, providing following service Courier Services, Form Filling, Prime Time V
Slide 15: Successful Execution of Large Global Visa Processing Contracts
SUCCESSFUL EXECUTION OF LARGE GLOBAL VISA PROCESSING CONTRACTS ▪ The contract with the government of Spain covers 47 countries of presence and 122 centres managed on behalf of the Spain Spain mission ▪ The share of Spain in the overall Schengen visa pool has increased ▪ The Company scaled presence i
Slide 16: Commencement of Execution of Recent Visa Processing Contracts
COMMENCEMENT OF EXECUTION OF RECENT VISA PROCESSING CONTRACTS Lebanon Brazil Processing Lebanon visas Secured contract for with 15 centers in India and processing of Brazil visas in centers across Thailand, Bangladesh, Nepal, Bhutan, Lebanon Sri Lanka & Maldives Morocco Belarus Processing Morocco vi
Slide 17: New Contracts
NEW CONTRACTS Canada Estonia Portugal Egypt Accredited by RCMP, E-residency cards in Japan, Visa Outsourcing for the Legalization of documents Government of Canada Thailand, Singapore, Brazil Embassy of Portugal with for the Egyptians to provide biometric and South Africa 15 centres in Russia servic
Slide 18: Strong Growth in Tech Enabled Citizen Services
STRONG GROWTH IN TECH ENABLED CITIZEN SERVICES National Identification Tech enabled citizen services for governments and diplomatic missions cards worldwide E-Passport Verification & Application Leading Attestation Leveraging strong technology platform and trained staff and years of domain technolog
Slide 19: Huge Opportunity in Global Tech Enabled Services
HUGE OPPORTUNITY IN GLOBAL TECH ENABLED SERVICES Global Opportunities Domestic Opportunities ▪ Most services offered by governments to consumers are still ▪ Several initiatives by Indian government to provide only semi-automated with a low penetration of cutting-edge attractive opportunities in e-se
Slide 20: Expertise in Providing Tech Enabled Retail Services
EXPERTISE IN PROVIDING TECH ENABLED RETAIL SERVICES Global National identification card programme (Afghanistan) ➢ BLS was awarded the first international Citizen Services contract from the Embassy of Afghanistan in 2017 ➢ Opened Citizen Service centers (CSC) across the five Gulf countries including
Slide 21: Expertise in Providing Tech Enabled Retail Financial Services
EXPERTISE IN PROVIDING TECH ENABLED RETAIL FINANCIAL SERVICES Strafin – National Business Correspondent ➢ BLS has established a robust network of centers to deliver last mile banking services to unserved and underserved rural and remote populations as part of Financial Inclusion Program of Govt. Of
Slide 22: Competitive Edge & Strategic Growth
COMPETITIVE EDGE & STRATEGIC GROWTH
Slide 23: Cutting Edge Technology & Agile Process
CUTTING EDGE TECHNOLOGY & AGILE PROCESS Technology People Process ▪ ISO 9001:2015 certified for Quality ▪ ~15,000 employees and associates ▪ Agile proprietary process Management with more than 90% retention ▪ Large and complex data handling ▪ ISO 27001:2013 certified for Information ▪ 60+ nationalit
Slide 24: Asset Light, High FCF Business Model with Positive Net Cash
ASSET LIGHT, HIGH FCF BUSINESS MODEL WITH POSITIVE NET CASH Asset light model driving return ratios ROCE% ▪ All global branch offices are on lease 32% ▪ Efficient capital utilization, funds utilized only for contracts 22% 25% 22% 17% 18% 17% execution as compared to acquiring assets 13% ▪ Citizen se
Slide 25: Strategic Initiatives to Drive Growth
STRATEGIC INITIATIVES TO DRIVE GROWTH Continue leadership through organic growth in the Establish strong global presence in citizen services core business of visa and consular services by on the back of established strengths leveraging competence ▪ Tap international markets for outsourced citizen ▪
Slide 26: Investment Rationale
INVESTMENT RATIONALE Expanding Global Presence Key Player in Visa Processing & Tech enabled Services The Company has branches in 62 countries and has a total of BLS has been gradually increasing its market share in outsourcing Visa 2,325 centres globally. Contract with the Spanish mission has applic
Slide 27: Financial Overview
i i BPG | FINANCIAL OVERVIEW RLS INTERNATIONAL
Slide 28: Consolidated Statement of Profit & Loss
CONSOLIDATED STATEMENT OF PROFIT & LOSS (₹ Cr) FY18 FY19 FY20 FY21 Revenue 789 804 786 478 Gross Profit 295 266 236 142 (Gross Margin) 37% 33% 30% 30% Operating expenses 136 157 153 102 EBITDA 159 108 83 40 Finance Cost 12 10 2 0.5 Depreciation 40 19 12 9.5 Other Income 4.1 43 13 19 One-time income
Slide 29: Consolidated Balance Sheet as on 31st March 2021
CONSOLIDATED BALANCE SHEET AS ON 31ST MARCH 2021 ₹ in Cr Mar’21 Mar'20 ₹ in Cr Mar’21 Mar'20 Share Capital 10.3 10.3 Fixed Assets incl. CWIP 24.6 23.0 Total borrowings is zero as on 31st March ’21, continues to be debt free. Shareholders' Funds 459.8 428.5 Intangible Assets 13.0 18.2 Non controlling
Slide 30: Consolidated Cash Flow as on 31st March 2021
CONSOLIDATED CASH FLOW AS ON 31ST MARCH 2021 (₹ Cr) FY20 FY21 85 Operating profit before WC change 45 C/F from operating activities 46 116 Change in Working Capital 1.0 46.2 (15) Direct taxes 0.1 0 Purchase of property, plant and equipment and intangibles (5.9) (3) Proceeds from sale / purchase of i
Slide 31: Contact Us
Contact US Mr. Amit Sudhakar CFO, BLS International Email: amit.s@blsinternational.net Investor Relations Lokesh Pareek Christensen IR Email: Lpareek@christensenir.com
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