Slide 1: Investor Presentation cover letter to exchanges
BLS E-SER VICES ww w.bl seservicesxojn February 05, 2026 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: 544
Slide 2: BLS E-Services Limited Investor Presentation Q3 & 9M FY26
BLS E-Services Limited Investor Presentation Q3 & 9M FY26 NSE : BLSE | BSE : 544107
Slide 3: Safe Harbor
Safe Harbor BLS E-SERVICES 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
Slide 4: Table of Contents
BLS E-SERVICES Table of Contents Q3 & 9M FY26 Performance Highlights Company Overview Key Investment Highlights Historical Performance Highlights Industry Overview
Slide 5: Q3 & 9M FY26 Performance Highlights
Q3 & 9M FY26 Performance Highlights
Slide 6: Key Business Updates – Q3 FY26
A Key Business Updates – Q3 FY26 BLS E-SERVICES Expansion in Network • No. of touchpoints increased to 1,51,000+ in Q3FY26 as compared to 1,36,700+ in Q3FY25 • Business Correspondents CSPs increased to 45,800+ as on 31st December 2025 as compared to 41,500+ as on 31st December 2024. • Gross transact
Slide 7: Consolidated Financial Highlights – Q3FY26 vs Q3FY25
Consolidated Financial Highlights – Q3FY26 vs Q3FY25 Total Income & YoY Growth (%) EBITDA* & YoY Growth (%) 80.0 0 PAT & YoY Growth (%) 75.00 70.0 0 65.00 60.0 0 350.00 +115.5% 55.00 50.0 0 300.00 45.00 250.00 286.7 40.0 0 35.00 200.00 30.0 0 150.00 +7.0% +8.7% 25.00 20.0 0 100.00 133.1 22.7 15.00 2
Slide 8: Consolidated Financial Highlights – 9MFY26 vs 9MFY25
Consolidated Financial Highlights – 9MFY26 vs 9MFY25 Total Income & YoY Growth (%) 250.00 EBITDA* & YoY Growth (%) 200 .00 PAT & YoY Growth (%) 180 .00 200.00 160 .00 140 .00 +171.5% 900.00 800.00 150.00 120 .00 813.9 700.00 100 .00 600.00 +21.8% 100.00 80.0 0 500.00 +23.0% 400.00 60.0 0 300.00 73.9
Slide 9: Consolidated Profit & Loss Statement – Q3 & 9M FY26
Consolidated Profit & Loss Statement – Q3 & 9M FY26 Particulars (₹ in Crore) Q3FY26 Q3FY25 YoY 9MFY26 9MFY25 YoY Revenue from Operations 280.7 127.6 119.9% 794.4 280.1 183.6% Other Income 6.0 5.4 19.5 19.7 Total Income 286.7 133.1 115.5% 813.9 299.8 171.5% Cost of Services 247.7 97.6 694.5 199.2 Emp
Slide 10: Company Overview
Company Overview
Slide 11: BLS E-Services at a Glance
BLS E-Services at a Glance BLS E-SERVICES BLS E-Services Limited (BLSe), through its tech-enabled integrated business model, provides digital and physical products and services in the G2C, B2C, 1,51,000 + 1,000+ 45,800 + Touchpoints^ BLS Stores Business Correspondents^ B2B categories in semi-urban,
Slide 12: Key Milestones
Key Milestones BLS E-SERVICES Listing on NSE and BSE; Acquisition of shareholding in Acquisition of Starfin India Acquisition of 57% stake in ASPL*, one BLS Kendras Private Limited by Private Limited of the largest players engaged in loan way of equity swap distribution & processing in India 2016 20
Slide 13: Robust & Diversified Business Model
Robust & Diversified Business Model Supporting state governments in empowering citizens, the Company facilitates access to more than 750 digitally delivered government services Digital Services Business Business Correspondent E-Governance Services Assisted E-Services Delivers last mile banking ser
Slide 14: Business Correspondent Services
Business Correspondent Services BLS E-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 str
Slide 15: E-Governance & Assisted E-Services
E – Governance & Assisted E-Services BLS E-SERVICES Efficient and cost-effective methods of service delivery Enhance transparency and responsiveness of the Government to citizen needs One stop shop platform Convenience to citizens by reducing the travel time to avail services from haphazardly
Slide 16: Comprehensive Service Portfolio
Comprehensive Service Portfolio Opening of Basic Savings Accounts Loan Deposits (Term Loans, Collection and Renewal of Kisan Credit Card Loans, Agri SME Loans) Domestic Remittances (cash-to- account, account-to-account, Intra Micro-Insurance (PMJJBY – Life, Bank and Inter-Bank) PMSBY – General), Mic
Slide 17: Cross-selling and Up-selling under Digital Services
Cross-selling and Up-selling under Digital Services BLS E-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 pro
Slide 18: Digital Business – Strategic Roadmap
Digital Business – Strategic Roadmap Enhancing Technology Infrastructure Expansion of merchant and BLS Stores network Leverage technology to reduce resource costs Expand merchant network nationwide Improve service execution through the use of validated Offer a wider range of services at exis
Slide 19: Key Strengths
Key Strengths
Slide 20: Key Strengths
r Key Strengths BLS E-SERVICES Diverse sources of Asset Light Model Cross-selling & Up- Proven track record of Network with Pan India revenue and negligible selling opportunities successfully integrating presence customer acquisition and acquisitions retention costs 01 02 03 04 05 Merchant led busin
Slide 21: 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 22: Historical Financial Highlights
Historical Financial Highlights
Slide 23: Consolidated Key Financial Highlights
Consolidated Key Financial Highlights BLS E-SERVICES Total Income EBITDA* & EBITDA Margin* +77% CAGR 8.7% 14.7% 16.1% 15.8% 545.0 +116% CAGR 86.1 246.3 309.6 49.9 36.3 98.4 8.6 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 PAT & PAT Margin Net Worth 5.5% 8.3% 10.8% 10.8% 482.7 431.1 +122% CAGR 58.8 33.5 2
Slide 24: Consolidated Historical P&L Statement
Consolidated Historical P&L Statement Particulars (in Rs. Crores) FY22 FY23 FY24 FY25 9MFY26 Revenue from Operations 96.7 243.1 301.5 519.4 794.4 Other Income 1.7 3.2 8.1 25.7 19.5 Total Income 98.4 246.3 309.6 545.0 813.9 Cost of Services 63.5 161.7 207.6 401.3 694.5 Employee Benefit Expenses 6.4 2
Slide 25: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet BLS E-SERVICES Consolidated (in Rs. Crores) Mar-22 Mar-23 Mar-24 Mar-25 Sept-25 ASSETS Non-current assets Property, Plant and Equipment 0.2 1.1 4.7 5.5 4.9 Goodwill 8.0 81.5 81.5 167.0 * 167.0 Other Non-Current Assets 20.9 26.7 115.0 225.2 44.7 Current Assets In
Slide 26: Industry Overview
Industry Overview
Slide 27: 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 28: 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 29: India's Digital Assistance Market – Rapid Growth Driven by Technology (1)
India’s Digital Assistance Market– Rapid Growth Driven by Technology (1) PMJDY Drives 0.55 B Beneficiaries Surge in Authentication Transactions 4,000 & INR 2,452 B in Deposits by FY25 1.00 3,500 0.90 22.9 0.80 17.7 3,000 0.70 0.52 0.55 2,500 0.45 0.49 0.60 14.1 0.38 0.42 2,000 0.35 0.50 10.8 11.1 0.
Slide 30: India's Digital Assistance Market – Rapid Growth Driven by Technology (2)
India’s Digital Assistance Market– Rapid Growth Driven by Technology (2) Remarkable Growth in India’s Digital Payments Method: UPI Soars with 79.9% CAGR from FY20 to FY24 Trend in Volume of Payments (Bn) Trend in Value of payments (INR Tn) 131.1 79.9% 14.4% 83.7 391 337 75.7% 23.2% 46.0 229 251 287
Slide 31: Business Correspondent – Drive Financial Inclusion in Remote Areas
Business Correspondent – Drive Financial Inclusion in Remote Areas BLS E-SERVICES BC’s Handle 60.5% of BSDA Transactions in CY24, up from 55.6% in CY19, highlighting their role in Financial Inclusion 3000 Transaction in BSBDA through BCs by Value (INR Bn) 70.0% Transaction in BSBDA through BCs by Vo
Slide 32: India's E-Governance – Enhancing Service Delivery Through Technology & Transparency
r India’s E-Governance– Enhancing Service Delivery Through Technology & Transparency BLS E-SERVICES India’s scores are low compared to other countries India’s rank in e-Governance is improving, as per UN Survey providing government services online Particulars EGDI OSI Particulars 2014 2022 China 0.8
Slide 33: Advantages of E-Governance
Advantages of E-Governance E-SERVICES Enhance delivery and efficiency of Convenience to Citizens and government services 01 10 Businesses Significant reduction in Cost with Efficient government management 02 09 simultaneous growth in revenues Increased legitimacy of Empower Citizens through access t
Slide 34: Annexures
Annexures
Slide 35: Corporate Structure
Corporate Structure BLS International Services Public Limited & 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% 34 On
Slide 36: Thank You
Thank You Mr. Rahul Sharma Vikash Verma / Rohit Anand / Riddhant Kapur Executive Director & CFO vikash.verma1@in.ey.com / cs@blseservices.com rohit.anand4@in.ey.com / riddhant.kapur@in.ey.com