Bls E-services Limited · NSE:BLSE
Bls E-services — Q1 FY27 Earnings Presentation
36 slides from Bls E-services's earnings presentation, Aug 6, 2026
Slide 1: Exchange filing cover letter
August 06, 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: 544107 Subject: Investor Presentation Dear S
Slide 2: BLS E-Services Limited Investor Presentation Q1FY27
BLS E-SERVICES LIMITED Investor Presentation Q1FY27 BSE : 544107 | NSE : BLSE
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
@e Q1FY27 Performance Highlights Company Overview Key Strengths Key Investment Highlights Historical Financial Highlights Annexures
Slide 5: Q1FY27 Performance Highlights
Q1FY27 Performance Highlights
Slide 6: Results Snapshot – Q1FY27 vs Q1FY26
Results Snapshot – Q1FY27 vs Q1FY26 Total Income at EBITDA* at PAT at Rs. 310 Crores Rs. 27 Crores Rs. 19 Crores Up 23.3% 8.7% Margin 6.0% Margin Gross Transaction Value ^ at Loan Disbursement worth Total BCs / CSPs Rs. 29,500+ Crores Rs. 8,700+ Crores 46,800+ Up 12.6% Up 20.8% 5 ^ Gross Transaction
Slide 7: Key Business Updates – Q1FY27
Key Business Updates – Q1FY27 No. of touchpoints increased to 1,58,600+ in Q1FY27 as Business Correspondents CSPs increased to 46,800+ as on 30th compared to 1,44,000+ in Q1FY26 June 2026 as compared to 45,000+ as on 30th June 2025 Gross Transaction Value^ for Q1FY27 stood at Rs. 29,500+ Crores Faci
Slide 8: Consolidated Financial Highlights – Q1FY27 vs Q1FY26
Consolidated Financial Highlights – Q1FY27 vs Q1FY26 in Rs. Crores Total Income & YoY Growth (%) EBITDA* & YoY Growth (%) PAT & YoY Growth (%) +23.3% +7.9% 26.9 +6.3% 24.9 309.8 18.6 251.2 17.5 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Total Income stood at Rs. 309.8 Crores in Q1FY27, as compared
Slide 9: Consolidated P&L Statement – Q1FY27
Consolidated P&L Statement – Q1FY27 in Rs. Crores Particulars Q1FY27 Q1FY26 YoY FY26 FY25 YoY Revenue from Operations 304.1 244.0 24.6% 1,117.8 519.4 115.2% Other Income 5.7 7.2 25.0 25.7 Total Income 309.8 251.2 23.3% 1,142.8 545.0 109.7% Cost of Services 266.7 211.8 980.8 401.3 Employee Benefit Ex
Slide 10: Company Overview
Company Overview
Slide 11: BLS E-Services at a Glance
BLS E-Services at a Glance BLS E-Services Limited (BLSe) is a leading digital service provider to governments and Rs. 1,143 Crores financial institutions in the G2C, B2C, B2B categories, through its tech-enabled FY26 Total Income integrated business model 67% BLSe is not just a service provider, but
Slide 12: Key Strengths
Key Strengths
Slide 13: Key Strengths
Key Strengths 1 2 3 Diversified Multi Modal Asset-Light Business Model Revenue Streams Model 7 4 5 6 Strong Tailwinds In-House through Govt’s Value-Accretive Expansive Acumen in Financial Inclusion Acquisitions Network Reach Technology Initiatives 12
Slide 14: 1. Diversified Business Model
1. Diversified Business Model Supporting state governments in empowering citizens, the Company facilitates access to more than 750 digitally delivered government services BLS E-Services Business Correspondent Loan Disbursement E-Governance Services Assisted E-Services Enables the provision of citi
Slide 15: 1a. Business Correspondent Services
1a. 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 H
Slide 16: 1a. Loan Disbursement Business
1a. Loan Disbursement Business BLS E-Services significantly enhanced the Loan Disbursement business through the acquisition of 57% controlling stake in Aadifidelis Solutions Pvt. Ltd., having a strong network and proven partnerships across leading banks and NBFCs About Aadifidelis Solutions Loan Dis
Slide 17: 1b. E-Governance Services
1b. E – Governance Services A trusted partner for government initiatives the platform simplifies citizen access to over 700+ services across Departments through over 24,000+ BLS Touchpoints in Uttar Pradesh, Karnataka, Gujarat, West Bengal and Rajasthan One stop shop platform to offer citizen cent
Slide 18: 1c. Assisted E-Services
1c. Assisted E-Services Access to Services including: Impact & Value Addition: BLSe offers a wide array of Bill payments Empowers BLS Touchpoints and local assisted digital services, Insurance retailers with additional income streams delivered through BLS Recharges by cross-selling 330+ value
Slide 19: 2. Multi Modal Revenue Stream
2. Multi Modal Revenue Stream Multi-Modal Revenue Business Correspondents Loan Disbursement Assisted E-Services E-Governance Services Retailers Digital Stores Revenue Models Transaction based Fees charged to retailers Registration fee BOOT or related Commission (like on: DMT, based on: Transac
Slide 20: 3. Asset Light Model
3. Asset Light Model Merchant-Led Model Technology-driven Platform BLS E-Services operates on a proven Technology acts as the backbone, with asset-light and merchant-led business proprietary platforms simplifying model that ensures scalability with merchant onboarding, operations and minimal capital
Slide 21: 4. Value Accretive Acquisitions
4. Value Accretive Acquisitions Starfin India Zero Mass Aadifidelis Solutions Private Limited Private Limited Private Limited Acquired in 2018 Acquired in 2022 Acquired in 2024 100.0% stake 90.9% stake 57.0% stake Business Correspondent business Business Correspondent business Loan
Slide 22: 5. Expansive Network Reach
5. Expansive Network Reach Business Correspondents (BC) Services (including Loan Disbursement) 46,800+ 30,800+ 16,000+ 300+ 165 Rs. 1,11,000 + 130+ Business Rural / Semi-Urban Bank/NBFC Tie-ups Million Transactions Correspondents Codes Urban Codes Services Offered (as on June 30, 2026) Crores in FY2
Slide 23: 6. Cross-selling and Up-selling under Digital Services
6. 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 & serv
Slide 24: 7a. Tailwinds in BC Industry
7a. Tailwinds in BC Industry – Driving Financial Inclusion in Remote Areas BC’s Handle 60.5% of BSDA Transactions in CY24, up from 55.6% in CY19, highlighting their role in Financial Inclusion Transaction in BSBDA through BCs by Value (INR Bn) Transaction in BSBDA through BCs by Volume (Mn) 300 0 70
Slide 25: 7b. India's E-Governance
7b. India’s E-Governance– Enhancing Service Delivery Through Technology & Transparency Transaction in BSBDA through BCs by Value (INR Bn) Transaction in BSBDA through BCs by Volume (Mn) Particulars EGDI OSI Particulars EGDI OSI China 0.8119 0.8876 Russia 0.8162 0.7368 EGDI Composite Score 0.3834 0.5
Slide 26: 7c. Tailwinds in Loan Disbursement Markets
7c. Tailwinds in Loan Disbursement Markets India’s loan disbursement market, including banking and non-banking financial companies (NBFCs), plays a pivotal role in fuelling economic growth through credit disbursement across retail, MSME, housing, and other segments India Systemic Credit Market (USD
Slide 27: Key Investment Highlights
Key Investment Highlights
Slide 28: Investment Rationale
Investment Rationale 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 business BLSe’s
Slide 29: Way Forward
Way Forward Organic Growth Invest in technology to further Focus on volume led growth across the build robust systems and various verticals of BCs, Loan Inorganic Opportunities Disbursement, E-Gov & Assisted E- processes services Actively scouting for strategic Strengthen our technology infras
Slide 30: Historical Financial Highlights
Historical Financial Highlights
Slide 31: Consolidated Key Financial Highlights
Consolidated Key Financial Highlights in Rs. Crores Total Income EBITDA* & EBITDA Margin* +85% CAGR 8.7% 14.7% 16.1% 15.8% 8.7% 1,142.8 +85% CAGR 545.0 86.1 99.9 246.3 309.6 36.3 49.9 98.4 8.6 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 PAT & PAT Margin Net Worth 5.5% 8.3% 10.8% 10.8% 6.1% 522
Slide 32: Consolidated Historical P&L Statement
Consolidated Historical P&L Statement in Rs. Crores Particulars (in Rs. Crores) FY22 FY23 FY24 FY25 FY26 Revenue from Operations 96.7 243.1 301.5 519.4 1,117.8 Other Income 1.7 3.2 8.1 25.7 25.0 Total Income 98.4 246.3 309.6 545.0 1,142.8 Cost of Services 63.5 161.7 207.6 401.3 980.8 Employee Benefi
Slide 33: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet in Rs. Crores Consolidated (in Rs. Crores) Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 ASSETS Non-current assets Property, Plant and Equipment 0.2 1.1 4.7 5.5 7.2 Goodwill 8.0 81.5 81.5 167.0 * 167.0 Other Non-Current Assets 20.9 26.7 115.0 225.2 54.1 Current Assets Inve
Slide 34: Annexures
Annexures
Slide 35: Corporate Structure
Corporate Structure Public & Others 28.13% Promoter & Promoter Group BLS 71.87% (Including BLS International Services Limited) E-Services Limited Starfin India Pvt Ltd Zero Mass Pvt Ltd BLS Kendras Pvt Ltd Aadifidelis Solutions Pvt Ltd (BC Business) (BC Business) (E-Governance Business) (BC Business
Slide 36: Thank You
Thank You Mr. Rahul Sharma Executive Director & CFO cs@blseservices.com Vikash Verma / Rohit Anand / Riddhant Kapur vikash.verma1@in.ey.com / rohit.anand4@in.ey.com / riddhant.kapur@in.ey.com