Bls International Services Ltd. · NSE:BLS
Bls International Services — Q2 FY23 Earnings Presentation
25 slides from Bls International Services's earnings presentation, Nov 7, 2022
Slide 1: Exchange filing cover letter for investor presentation
November 07, 2022 National Stock Exchange of BSE Ltd., Metropolitan Stock Exchange of India Ltd., India Ltd., Exchange Plaza, C-1 Block G, Phiroze Jeejeebhoy Vibgyor Towers, 4th Floor, Plot Bandra Kurla Complex Bandra Towers, No. C62, G - Block, Opp. Trident [E], Mumbai – 400051 Dalal Street, Fort,
Slide 2: Investor Presentation Q2 & H1 FY23
Investor Presentation Q2 & H1 FY23
Slide 3: Q2 FY23 Highlights
RIS Q2 FY23 Highlights INTERNATIONAL
Slide 4: Key Focus Areas – Digital Services
Key Focus Areas – Digital Services Strong Focus on Digital Services BLS is consolidating its e-Governance and Citizen services lines of business into one segment – Digital Services Post ZMPL acquisition, BC line of business is growing fast enough to require dedicated strategic focus Based on r
Slide 5: Financial Highlights
Financial Highlights Revenue (Rs Cr) EBITDA (Rs Cr) & EBITDA Margin (%) PAT (Rs Cr) & PAT Margin (%) Quarterly Highlights 14.5% 15.9% 14.4% 14.3% 356.8 51.0 87.4% 85.7% 56.8 106.0% 190.5 27.5 27.6 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 14.0% 12.9% 13.0% Half Year Highlights 12.6% 629.7 82 8
Slide 6: Consolidated Profit and Loss Statement (Q2)
Consolidated Profit and Loss Statement (Rs. in Cr) Q2 FY23 Q2 FY22 % Change Q1 FY23 Q2 FY23 operational revenue up Revenue 356.84 190.46 87.36% 272.82 87.4% YoY driven by continued strong recovery in visa & consular Gross Profit 120.50 62.96 91.39% 89.36 business (Gross Margin) 33.77% 33.06% 32.76
Slide 7: Consolidated Profit and Loss Statement (H1)
Consolidated Profit and Loss Statement (Rs. in Cr) H1 FY23 H1 FY22 % Change Revenue 629.66 368.99 70.65% Gross Profit 209.86 118.01 77.83% (Gross Margin) 33.33% 31.98% Operating expenses 59.95 37.36 EBITDA 88.16 46.36 90.12% (EBITDA Margin) 14.00% 12.56% 144 bps Other Income 7.22 6.40 Depreciation 6
Slide 8: Segmental Highlights
Segmental Highlights Revenue PBT 15% 18% Q2 FY23 82% 85% Visa & Consular Digital Services Visa & Consular Digital Services 16% 15% H1 FY23 84% 85% Visa & Consular Digital Services Visa & Consular Digital Services 7
Slide 9: Company overview
R 1S Company overview INTERNATIONAL
Slide 10: 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 11: Corporate Structure
Corporate Structure Domestic Visa & Attestation Visa, Consular 100% 100% & e-governance BLS E-Services Pvt Ltd BLS International FZE Business in other (Digital Services) countries International Subsidiaries/Partners 100% 88.7% 100% UK USA UAE Russia Ecuador Algeria Canada China Starfin India Zero Ma
Slide 12: 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 i Delivering front-end servi
Slide 13: 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 14: Digital Services – E-Governance services
2.i Digital Services – E-Governance services Punjab Project Delivered front-end service (~375 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 traffi
Slide 15: 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 16: 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 17: Strong balance sheet to support 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 18: Historical Financial Highlights
Historical Financial Highlights
Slide 19: 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) 407 384 184 239 277 133 116 131 173 45 FY19 FY20 FY21 FY22 H1 FY23 FY19 FY20 FY21 FY22 H1 FY23 ROCE* (%) 27% 22% 17% 11% FY20 FY21 FY22 H1 FY23** ROCE excl. cash * ROCE = EBIT/(
Slide 20: Historical Consolidated P&L Highlights
Historical Consolidated P&L Highlights (Rs. in Cr) FY19 FY20 FY21 FY22 H1 FY23 Revenue 804 786 478 850 630 Gross Profit 266 236 142 276 210 (Gross Margin) 33% 30% 30% 33% 33% Operating expenses 157 153 102 169 60 EBITDA 108 83 40 107 88 (EBITDA Margin) 13% 11% 8% 13% 14% Finance Cost 10 2 0.5 0.7 0.
Slide 21: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet (Rs. in Cr) Mar’21 Mar’22 Sep’22 (Rs. in Cr) Mar’21 Mar’22 Sep’22 Share Capital 10.3 10.3 20.5 Fixed Assets incl. CWIP 23.9 84.2 93.5 Shareholders' Funds 459.8 569.8 659.2 Intangible Assets 13.8 20.0 22.6 Non controlling Interest 0.1 0.0 5.1 Deferred Tax (Net) 6
Slide 22: 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 23: Way Ahead
R 1S Way Ahead INTERNATIONAL
Slide 24: 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 25: 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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