Bls International Services Ltd. · NSE:BLS
Bls International Services — Q1 FY23 Earnings Presentation
22 slides from Bls International Services's earnings presentation, August 2022
Slide 1: Investor Presentation Q1 FY23
Investor Presentation Q1 FY23
Slide 2: Q1 FY23 Highlights
RIS Q1 FY23 Highlights INTERNATIONAL
Slide 3: Recent Strategic Acquisition
Recent Strategic Acquisition Acquired ZMPL BLS acquired ZERO Mass Private Limited (ZMPL), to become largest business correspondent (BC) of SBI Group, through its wholly owned subsidiary BLS E-Services Private Limited, acquired 88.71% equity stake in ZMPL., while SBI continues to hold 6.83% stake
Slide 4: Financial Highlights
Financial Highlights Revenue (Rs Cr) EBITDA (Rs Cr) & EBITDA Margin (%) PAT (Rs Cr) & PAT Margin (%) Quarterly Highlights 10.5% 11.6% 11.3% 11.3% 272.8 30.7 52.8% 31.5 178.5 51.6% 67.6% 20.3 18.8 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 8.3% 12.6% 10.5% 13.1% Full Year Highlights 850 111 107
Slide 5: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement (Rs. in Cr) Q1 FY23 Q1 FY22 % Change Q4 FY22 Q1 FY23 operational revenue up 52.8% Revenue 272.82 178.53 52.82% 253.84 YoY driven by continued strong recovery Gross Profit 89.36 55.05 62.33% 83.35 in visa & consular business as well as citizen services busines
Slide 6: Company overview
R 1S Company overview INTERNATIONAL
Slide 7: Our competitive edge
Our competitive edge Expanding global network Ability to win marquee State-of-the-art digital infra contracts 2016-21: Europe, GCC & ME, South American Highly secure processes with capabilities Operating in 66 countries with a network of contracts to handle large quantities of 30,000 application cen
Slide 8: Corporate Structure
Corporate Structure Domestic Visa & Attestation Visa, Consular 100% & e-governance BLS International FZE Business in other 100% 100% countries BLS E-Services Pvt BLS Kendra Pvt Ltd Ltd (UP & Rajasthan (Punjab citizen services International Subsidiaries/Partners citizen services biz) biz) UK USA UAE
Slide 9: Business overview
Business overview Broad suite of services for visa Visa processing processing and related services 1 Holistic solutions for customer’s Visa & Consular Services Value added (VAS) delight and convenience Consular services on behalf of Consular embassies/diplomatic missions Delivering front-end service
Slide 10: Visa processing & consular services
1 Visa processing & consular services Visa Processing Value Added Consular Leading global player in the visa Additional holistic services rolled out Services provided by the diplomatic outsourcing service industry, with over with speed & agility and offered to mission of a country to citizens of tha
Slide 11: E-Governance services
2 E-Governance services Punjab Project Delivered front-end service (~254 G2Cs) to Indian citizens at the grassroot level and enhanced citizen’s convenience Catered 1.84 crore population and covered 16 districts across the state Decentralized service helped decongest traffic flow into cities, m
Slide 12: Other citizen services
3 Other citizen services Starfin & Zero Mass – National Business Correspondent (NBC) Present in all BLS has established a robust network of centers to deliver last mile banking services to unserved and underserved rural states & Union and remote populations as part of Financial Inclusion Program o
Slide 13: Huge opportunities across business segments
Huge opportunities across business segments Visa processing Citizen services Growth in outsourcing of visa application worldwide Global 22% 35% Most services offered by governments to consumers are 50% still only semi-automated with a low penetration of Outsourced cutting-edge technologies 78% In-
Slide 14: Strong balance sheet to support for the next leg of growth
Strong balance sheet to support for the next leg of growth Organic growth in the existing buinesses Focus on large ticket size projects and establish own centers for such contracts 01 More services to existing clients thereby increasing wallet share Tap new geographies and countries for all bu
Slide 15: Historical Financial Highlights
Historical Financial Highlights
Slide 16: Net cash positive, high FCF business model
Net cash positive, high FCF business model Cash, bank and equivalents (Rs. Crores) Cash flows from operations (Rs. Crores) 407 184 277 133 116 239 119 173 50 45 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 ROCE excl. cash (%) 22% 17% 17% 7% FY19 FY20 FY21 FY22 ROCE excl. cash 16
Slide 17: Historical Consolidated P&L Highlights
Historical Consolidated P&L Highlights (Rs. in Cr) FY18 FY19 FY20 FY21 FY22 Revenue 789 804 786 478 850 Gross Profit 295 266 236 142 276 (Gross Margin) 37% 33% 30% 30% 33% Operating expenses 136 157 153 102 169 EBITDA 159 108 83 40 107 (EBITDA Margin) 20% 13% 11% 8% 13% Finance Cost 12 10 2 0.5 0.7
Slide 18: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet (Rs. in Cr) Mar’20 Mar’21 Mar’22 (Rs. in Cr) Mar’20 Mar’21 Mar’22 Share Capital 10.3 10.3 10.3 Fixed Assets incl. CWIP 23.0 23.9 84.2 Shareholders' Funds 428.5 459.8 569.8 Intangible Assets 18.2 13.8 20.0 Non controlling Interest (0.1) 0.1 0.0 Deferred Tax (Net)
Slide 19: Historical Consolidated Cash Flow
Historical Consolidated Cash Flow (Rs. Cr) FY22 FY21 144 Operating profit before WC change 48 C/F from operating activities 48 185 Change in Working Capital (3) 45 (7) Direct taxes 0 Purchase of property, plant and equipment and (82) (5) intangibles (48) Proceeds from sale / purchase of investment 3
Slide 20: Way Ahead
INTERNATIONAL
Slide 21: Way Ahead
Way Ahead Actively grow new contracts with Embassies and Consulates Focus on upcoming tenders on visa & outsourcing services - potential market size ~ $1.5 bn 01 Target governments that are outsourcing for the first time Capitalize on the rebound in travel and tourism post pandemic Tie-up wi
Slide 22: 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
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