Bls International Services Ltd. · NSE:BLS
Bls International Services — Q1 FY24 Earnings Presentation
24 slides from Bls International Services's earnings presentation, Aug 9, 2023
Slide 1: Investor Presentation intimation letter to stock exchanges
August 09, 2023 National Stock Exchange of India BSE Ltd., Metropolitan Stock Exchange of Ltd., India Ltd., Exchange Plaza, C-1 Block G, Phiroze Jeejeebhoy Vibgyor Towers, 4th Floor, Plot No. Bandra Kurla Complex Bandra [E], Towers, C62, G - Block, Opp. Trident Hotel, Mumbai – 400051 Dalal Street, F
Slide 2: Investor Presentation Q1 FY24
Investor Presentation Q1 FY24
Slide 3: Management Discussion & Analysis of Results
Management Discussion & Analysis of Results Company registered Consolidated Operational Revenue of Rs. 383.49 crores & quarterly EBITDA at Rs. 80.05 crores in Q1 FY24 Consolidated Revenues stood at ₹ 383.49 crores in Q1 FY24, up by 40.56% from ₹ 272.8 crores in Q1 FY23, mainly driven by strong g
Slide 4: Financial Highlights
Financial Highlights Revenue (Rs Cr) EBITDA (Rs Cr) & EBITDA Margin (%) PAT (Rs Cr) & PAT Margin (%) Quarterly Highlights 11.5% 20.9% 11.3% 18.5% 383.5 40.6% 71.0 80.1 131.2% 272.8 154.2% 30.7 31.5 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 12.6% 14.6% 13.1% 13.5% Annual Highlights 1,516.2 78.4
Slide 5: Consolidated Quarterly Profit and Loss Statement
Consolidated Quarterly Profit and Loss Statement (Rs. in Cr) Q1 FY24 Q1 FY23 % Change Q4 FY23 Revenue 383.49 272.82 40.56% 448.63 Q1 FY24 operational revenue up 40.6% YoY driven by robust Gross Profit 156.70 89.36 75.35% 142.02 recovery in Visa & Consular (Gross Margin) 40.86% 32.76% 810 bps 31.66
Slide 6: Consolidated Annual Profit and Loss Statement
Consolidated Annual Profit and Loss Statement (Rs. in Cr) FY23 FY22 % Change Revenue 1516.19 849.89 78.4% Gross Profit 487.57 276.02 76.6% (Gross Margin) 32.16% 32.48% (32) Bps Operating expenses 126.92 93.30 EBITDA 221.00 106.93 106.7% (EBITDA Margin) 14.58% 12.58% 200 bps Other Income 21.25 14.95
Slide 7: Segmental Growth
Segmental Growth Visa & Consular (Rs Cr) Digital Services (Rs Cr.) 304.8 25.9% 83.0 242.1 Revenue 140.5% 34.5 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 71.5 157.6% 8.9 91.9% PBT 27.8 4.7 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 6
Slide 8: Company overview
2 1S Company overview INTERNATIONAL
Slide 9: 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 64 countries with a network of contracts to handle large quantities of 50,000+ application ce
Slide 10: Corporate Structure
Corporate Structure Domestic Visa & Attestation Visa, Consular 100% 69.32% & e-governance BLS E-Services Pvt Ltd BLS International FZE Business in other (Digital Services) countries International Subsidiaries/Partners* 100% 90.9% 100% UK USA UAE Russia Ecuador Algeria Canada China Starfin India Zero
Slide 11: Business overview
Business overview Broad suite of services for visa Visa processing processing and related services 1 Visa & Consular Value added (VAS) Holistic solutions for customer’s delight and convenience Services Consular services on behalf of Consular embassies/diplomatic missions Delivering front-end service
Slide 12: 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 13: Digital Services – E-Governance services
2.i Digital Services – E-Governance services Punjab Project Delivered front-end service (~430G2Cs) 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
Slide 14: Digital Services – Other citizen services
2.ii Digital Services – 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 Financi
Slide 15: Huge opportunities across business segments
Huge opportunities across business segments Visa Processing Digital Services Growth in outsourcing of visa application worldwide Global 22% Most services offered by governments to consumers are 35% still semi-automated with low penetration of cutting-edge 50% technologies Outsourced 78% Outsourc
Slide 16: Strong balance sheet to support the next leg of growth
Strong balance sheet to support for the next leg of growth Invest in tech to further build robust systems and processes Invest in technologies, infrastructure & manpower to tap exciting possibilities related to digitalization, last mile penetration & enhanced service 01 experience Tech like iden
Slide 17: Historical Financial Highlights
Historical Financial Highlights
Slide 18: 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) 556 642 225 407 239 277 92 118 60 77 FY20 FY21 FY22 FY23 Q1 FY24 FY20 FY21 FY22 FY23 Q1 FY24 ROCE* (%) 37% 28% 22% 11% FY21 FY22 FY23 Q1 FY24 ** ROCE excl. cash * ROCE = EBIT/(S
Slide 19: Historical Consolidated P&L Highlights
Historical Consolidated P&L Highlights (Rs. in Cr) FY19 FY20 FY21 FY22 FY23 Revenue 804 786 478 850 1516 Gross Profit 266 236 142 276 488 (Gross Margin) 33% 30% 30% 32% 32% Employee & Operating 157 153 102 169 267 expenses EBITDA 108 83 40 107 221 (EBITDA Margin) 13% 11% 8% 13% 15% Finance Cost 10 2
Slide 20: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet (Rs. in Cr) Mar’21 Mar’22 Mar’23 (Rs. in Cr) Mar’21 Mar’22 Mar’23 Share Capital 10.2 10.2 41.1 Fixed Assets incl. CWIP 24.6 84.2 98.6 Shareholders' Funds 459.8 569.8 802.8 Intangible Assets 5.0 20.0 53.7 Non controlling Interest 0.1 0.0 34.3 Deferred Tax (Net) 6
Slide 21: Historical Consolidated Cash Flow
Historical Consolidated Cash Flow (Rs. Cr) FY23 FY22 266 Operating profit before WC change 144 C/F from operating activities 13 260 Change in Working Capital 48 185 (19) Direct taxes (7) Purchase of property, plant and equipment and (68) (82) intangibles 19 Proceeds from sale / purchase of investmen
Slide 22: Way Ahead
RIS Way Ahead INTERNATIONAL
Slide 23: Way Ahead
Way Ahead Strong Focus on Digital Services Pursue growth opportunities in e-Governance and BC businesses 01 Leverage acquisition of ZMPL to grow Business Correspondent business Value-added services expected to yield strong top line and profitability Focus on negative working capital and EBIT
Slide 24: 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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