Slide 1: Exchange filing cover letter
February 10, 2025 To, To, National Stock Exchange of India Ltd., BSE Limited, Exchange Plaza, C-1 Block G, Bandra Kurla Phiroze Jeejeebhoy Towers, Dalal Street, Complex Bandra [E], Mumbai – 400051 Fort, Mumbai -400 001 NSE Scrip Symbol: BLSE BSE Scrip Code: 544107 Subject: Investor Presentation Dear
Slide 2: Investor Presentation Q3 & 9M FY25
Investor Presentation Q3 & 9M FY25 Banking Store Investment G2C February 2025 1
Slide 3: Safe Harbor
Safe Harbor 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
Slide 4: Contents
Contents Q3 & 9M FY25 Performance Highlights Company Overview Industry Overview Historical Performance Highlights Key Investment Highlights 3
Slide 5: Q3 & 9M FY25 Performance Highlights
Q3 & 9M FY25 Performance Highlights 4
Slide 6: Consolidated Business Updates – Q3FY25
Consolidated Business Updates – Q3FY25 Financial highlights Total Income stood at Rs. 133.1 Crores as compared to Rs. 72.8 Crores in Q3FY24, up by 82.7% YoY. Q3FY25 total income includes Rs 52.8 Crores revenue from Aadifidelis Solutions Pvt Ltd (ASPL) (starting 26th Nov 2024). EBITDA* witnessed
Slide 7: Consolidated Financial Snapshot – Q3FY25
Consolidated Financial Snapshot – Q3FY25 Reported a robust overall financial performance Total Income EBITDA* PAT Rs. 133.1 Crores Rs. 21.2 Crores Rs. 14.0 Crores 82.7% YoY 84.8% YoY 76.3% YoY EBITDA Margin*: 15.9% PAT Margin: 11.0% EBITDA Margin* (excl. ASPL) PAT Margin (excl. ASPL) 23.5% 16.5% vs.
Slide 8: Consolidated Financial Snapshot – 9M FY25
Consolidated Financial Snapshot – 9M FY25 Healthy growth trajectory in 9M period Total Income EBITDA* PAT Rs. 299.8 Crores Rs. 60.7 Crores Rs. 41.5 Crores 29.9% YoY 78.7% YoY 83.4% YoY EBITDA margin*: 20.2% PAT Margin: 14.8% EBITDA Margin* (excl. ASPL) PAT Margin (excl. ASPL) 23.6% 17.5% vs. 14.7% v
Slide 9: Consolidated Key Financial Highlights – Q3FY25
Consolidated Key Financial Highlights – Q3FY25 Revenue from Operations EBITDA* & EBITDA Margin* (%) PAT & PAT Margin (%) 14.4% 12.4% 11.1% 11.0% +78% 140.00 127.6 20.00 +53% 28.00 120.00 23.00 +76% 15.00 100.00 15.8 18.00 80.00 71.7 13.00 10.00 60.00 10.3 14.0 8.00 40.00 5.00 7.9 3.00 20.00 0.00 0.0
Slide 10: Consolidated Key Financial Highlights – 9M FY25
Consolidated Key Financial Highlights – 9M FY25 Revenue from Operations EBITDA* & EBITDA Margin* (%) PAT & PAT Margin (%) 13.6% 14.6% 9.9% 14.8% +23% 300.00 55.00 +33% 250.00 280.1 45.00 50.00 +83% 200.00 227.8 35.00 41.0 40.00 41.5 30.9 30.00 150.00 25.00 100.00 20.00 15.00 22.6 50.00 10.00 5.00 0.
Slide 11: Consolidated Profit & Loss Statement – Q3 & 9M FY25
Consolidated Profit & Loss Statement – Q3 & 9M FY25 Particulars (₹ in Crore) Q3FY25^ Q3FY24 YoY 9M FY25 9M FY24 YoY FY24 Revenue from Operations 127.6 71.7 78.1% 280.1 227.8 23.0% 301.5 Other Income 5.4 1.2 19.7 3.0 8.1 Total Income 133.1 72.8 82.7% 299.8 230.9 29.9% 309.6 Cost of Services 97.6 48.1
Slide 12: Company Overview
Company Overview
Slide 13: BLS E-Services at a Glance
BLS E-Services at a Glance BLS E-Services Limited (BLSe), through its tech-enabled integrated business model, provides digital and physical products and services in the G2C, B2C, B2B categories in semi-urban, rural and remote areas. 136,700+ 1,000+ Touchpoints^ BLS Stores BLSe has three business
Slide 14: Key Milestones
Key Milestones Listing on NSE and BSE; Acquisition of shareholding in BLS Acquisition of Starfin India Acquisition of 57% stake in ASPL*, one Kendras Private Limited by way of Private Limited of the largest players engaged in loan equity swap distribution & processing in India 2016 2018 2022 2022 20
Slide 15: Tech-enabled Digital Service Offerings
Tech-enabled Digital Service Offerings BLS works as Business Correspondents for Government services facilitated to citizens Banks i.e., being an extended arm of the Banks directly via BLS owned kiosks such as BLS to increase accessibility of their services to the Sewa. citizens. This involves
Slide 16: Bouquet of Services Provided by BLSe
Bouquet of Services Provided by BLSe Banking CSP Insurance Micro ATM E-learning / BLS Edutech AEPS Telemedicine Travel Refurbished Smart Phones Money Transfer Assisted E-Commerce Ayushmaan Bharat PM-JAY VISA & Passport Application Recharge PAN Card Services IRCTC Train
Slide 17: Business Correspondent Services
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 Advantage gained by our clients Channels and distribution strategies Highl
Slide 18: E–Governance & Assisted E-Services
E – Governance & Assisted E-Services One stop shop platform to offer citizen centric services of all the B2B2C Services being provided Government Departments. Majorly: Identity enrolment & through Portal & Mobile App updation, certificates, etc. Efficient and cost-effective Jan Seva Kendra (CSC)
Slide 19: Cross-selling and Up-selling under Digital Services
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 & service
Slide 20: Board & Management
Board & Management He holds a bachelors from Delhi University. He has over 10 years of experience and is the Joint Managing Director of BLS International Services Ltd. His business acumen and innovative thinking have played a vital role in the BLS International's exponential growth and successful Sh
Slide 21: Corporate Structure
Corporate Structure BLS International Services Limited Public & BLS Promoters 68.9% 31.1% BLS E-Services Limited Starfin India Pvt Ltd BLS Kendras Pvt Ltd (BC Business) (E-Governance Business) 100.0% 100.0% Zero Mass Pvt Ltd Aadifidelis Solutions Pvt Ltd (BC Business) (BC Business) 90.9% 57.0% Only
Slide 22: Industry Overview
Industry Overview 21
Slide 23: Industry Overview
Industry Overview Business Correspondent Industry Business Correspondent (BCs) work on a commission-based model. The commission is paid as a certain percentage of the value transacted or E-Governance a fixed fee per transaction depending on the Assisted E-Services Services Industry agreement. Indu
Slide 24: Industry Dynamics & Key Growth Drivers
Industry Dynamics & Key Growth Drivers India’s population surpassed China in January 2023 and has become the most populous country. Additionally, India is expected to be the fastest growing economy. This would lead to significant demand for E-services, Banking Correspondent Services as well as assis
Slide 25: Business Correspondent (BC) – An Overview
Business Correspondent (BC) – An Overview BC Industry is expected to grow at 19% CAGR from FY22 to FY25P BCs work on a commission-based model. The commission is paid as a certain percentage of the value transacted or a fixed fee per BC Industry Size (in Rs. Billion) transaction depending on the ag
Slide 26: Business Correspondent – Key Statistics (1)
Business Correspondent – Key Statistics (1) Amount transacted in BSBDA accounts through BCs Number of transactions in Basic Savings Account through BC increased over the years (Rs. Billion) 3000 70% 60% 2500 47% 49% 3,500 8,706 8,498 9,053 10,000 43% 43% 50% 8,156 9,000 2000 35% 38% 3,000 8,000 29%
Slide 27: Business Correspondent – Key Statistics (2)
Business Correspondent – Key Statistics (2) Presence of Banking Outlets in Villages (in ‘000) Number of transactions in Basic Savings Account through BCs (in Million) 59% 60% 60% 500 54% 56% 56% 61% 3000 120% 52% 95% 98% 97% 450 49% 408 91% 91% 90% 91% 90% 402 51% 2500 2274 100% 380 2218 400 339 350
Slide 28: Opportunity in E-Governance for the next phase of growth
Opportunity in E-Governance for the next phase of growth India’s scores are low compared to other countries providing India’s rank in e-Governance is improving, as per UN Survey government services online Particulars EGDI OSI Particulars 2014 2022 China 0.8119 0.8876 Russia 0.8162 0.7368 EGDI Compos
Slide 29: Advantages of E-Governance
Advantages of E-Governance Enhance delivery and efficiency of government services 01 10 Convenience to Citizens and Businesses Significant reduction in Cost with Efficient government management 02 09 simultaneous growth in revenues Empower Citizens through access to information 03 08 Increased legit
Slide 30: Historical Financial Highlights
Historical Financial Highlights
Slide 31: Consolidated Key Financial Highlights
Consolidated Key Financial Highlights Revenue c EBITDA* & EBITDA Margin* 7.2% 13.6% 13.9% 14.6% +57% CAGR +99% CAGR 301.5 280.1 41.8 41.0 243.1 33.1 96.7 6.9 FY22 FY23 FY24 9MFY25** FY22 FY23 FY24 9MFY25** PAT & PAT Margin Net Worth 5.6% 8.4% 11.1% 14.8% 431.1 +117% CAGR 41.5 33.5 20.4 106.9 5.4 15.
Slide 32: Consolidated Historical P&L Statement
Consolidated Historical P&L Statement Particulars (in Rs. Crores) FY22 FY23 FY24 9M FY25 Revenue from Operations 96.7 243.1 301.5 280.1 Cost of Services 63.5 161.7 207.6 199.2 Employee Benefit Expenses 6.4 23.2 29.7 26.7 Other Expenses 19.9 25.1 22.3 13.2 EBITDA* 6.9 33.1 41.8 41.0 EBITDA Margin* (%
Slide 33: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet Consolidated (in Rs. Crores) Mar-22 Mar-23 Mar-24 Sep-24 ASSETS Non-current assets Property, Plant and Equipment 0.2 1.1 4.7 10.8 Goodwill 8.0 81.5 81.5 81.5 Other Non-Current Assets 20.9 26.7 115.0 24.7 Current Assets Inventories - 0.6 1.6 2.8 Trade Receivables
Slide 34: Key Investment Highlights
Key Investment Highlights
Slide 35: Investment Rationale
Investment Rationale 01 02 03 04 05 Merchant led business BLSe’s ability to bring BLSe charge consumers BLSe have a history of BLSe has Pan India model wherein all the BLS together the advantages with a service fee and acquiring complementary presence through its touch points & BLS E-stores of G2C,
Slide 36: Way forward
Way forward Organic growth Focus on volume led growth across the three verticals of BCs, E-Gov & Assisted E-services Follow an aggressive strategy to win new government tenders for E-governance business New tieups with financial institutions viz Banks, Insurance companies, NBFC,etc Continue
Slide 37: Thank You
Thank You BLS E-Services Limited Ernst & Young LLP Mr. Rahul Sharma, Executive Director & CFO Vikash Verma / Rohit Anand / Riddhant Kapur cs@blseservices.com vikash.verma1@in.ey.com / rohit.anand4@in.ey.com / riddhant.kapur@in.ey.com 36