Bls International Services Ltd. · NSE:BLS
Bls International Services — Q4 FY24 Earnings Presentation
41 slides from Bls International Services's earnings presentation, May 14, 2024
Slide 1: Cover letter to stock exchanges
May 14, 2024 National Stock Exchange of India BSE Ltd., Metropolitan Stock Exchange of India Ltd., 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, Fort
Slide 2: Investor Presentation Q4 & FY24
Investor Presentation Q4 & FY24 May 2024
Slide 3: Safe Harbor
Safe Harbor This Presentation and the accompanying slides (the “presentation”), have been prepared by BLS International 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 sha
Slide 4: Contents
Contents Company Overview Visa & Consular Services Digital Services Growth Strategies Q4 & FY24 Performance Highlights Annual Performance Highlights Annexures 3
Slide 5: Company Overview
Company Overview
Slide 6: BLS International Services: At a Glance
BLS International Services: At a Glance Founded in 2005, BLS International Services Ltd. is a leading global provider of Tech-enabled services for Governments and Citizens under its two business segments – Visa & Consular Services and Digital Services. 2nd Largest 360+ Million Global player with res
Slide 7: Journey to being the 2nd largest Visa & Consular Player
Journey to being the 2nd largest Visa & Consular Player Foundation & Establishment Stage Emerged as a Prominent Player Vision Beyond 2005 - 2015 2016-2021 2022 - 2024 2024 Founded in 2005 and is a part of BLS group Listed on NSE, BSE & Metropolitan Stock Exchange Visa & Consular Services Visa &
Slide 8: Corporate Structure
Corporate Structure 50.91% 100% BLS E-Services Limited BLS International FZE Digital Services (Business Visa & Consular business in other Correspondent, E-Governance & countries Assisted E-Services International Subsidiaries/Partners* UK USA UAE Russia Saudi Arabia Starfin India Pvt Ltd Zero Mass Pv
Slide 9: Visa & Consular Services
Visa & Consula Services | iy’
Slide 10: Offering End-to-End services in Visa & Consular Services
Offering End-to-End services in Visa & Consular Services Leading global player in the visa outsourcing service industry, with 19+ years of experience and ~3 million applications being processed annually; Presence in 66 countries through a wide network of global offices Core Services include: Outso
Slide 11: Providing One-Stop Service solution with Infrastructure of Global Standards
Providing One-Stop Service solution with Infrastructure of Global Standards At BLS, we have established a respect for providing a one-stop service solution Quality check consolidation of the reports Cash Transmission of data to management the embassy/ consulate via the world’s most secure servers 06
Slide 12: Visa & Consular Services KPIs
Visa & Consular Services KPIs Revenue Operational KPIs FY22-24 CAGR 34% 65% 3.50 2,500 2,146 1,361.8 1,259.9 3.00 2,000 2.50 1,638 1,613 1,500 2.00 756.3 2.87 1.50 1,000 2.51 1.00 300.5 1.50 186.6 500 110.1 0.50 - - FY22 FY23 FY24 FY22 FY23 FY24 Revenue EBITDA # Applications (Million) Revenue ex.Cos
Slide 13: Opportunity for the next phase of growth (1/2)
Opportunity for the next phase of growth (1/2) Passenger Load Factor (Capacity Utilization) in the Aviation Industry is on the rise Global Air Passenger Market International Air Passenger Market Particulars 2019 2020 2021 2022 2023 Particulars 2019 2020 2021 2022 2023 Revenue Passenger Revenue Passe
Slide 14: Opportunity for the next phase of growth (2/2)
Opportunity for the next phase of growth (2/2) Growing Passenger Traffic will further lead to Strong Surge in Demand of Growth in Outsourcing of Visa Applicable Worldwide to further fuel up the VISA Application and other Value-added Service need for global VISA processors like BLS Global Visa Indust
Slide 15: The MOATS that will drive BLS
The MOATS that will drive BLS BLS qualifies for all tenders & bids aggressively on the back of extensive industry experience & solid technological capabilities Established market position in the visa services business – 2 Largest International Player nd Diversification across 19+ Years of Global Geo
Slide 16: Digital Services
Digital Services 15
Slide 17: Emerging as a thought leader in Digital Services
Emerging as a thought leader in Digital Services Business Correspondent E-Governance Services Assisted E-Services Delivers last mile banking services through a Enables the provision of citizen-centric and Provides a variety of services & products through robust network of centers in rural and
Slide 18: Opportunity in BC for the next phase of growth
Opportunity in BC for the next phase of growth Business Correspondence Amount transacted in BSBDA accounts Presence of Banking Outlets Industry (Rs. Billion) through BCs (Rs. Billion) in Villages (000’s) CAGR 19% Through Branches Through BCs Total Banking Outlets in Villages CAGR 17% 147.4 Total Ban
Slide 19: Opportunity in E-Governance for the next phase of growth
Opportunity in E-Governance for the next phase of growth India’s scores are low compared to other countries providing government services online India’s rank in e-Governance is improving, as per UN Survey Particulars EGDI OSI Particulars 2014 2022 China 0.8119 0.8876 Russia 0.8162 0.7368 EGDI Compos
Slide 20: BLS will capture the growth by cross-selling under Digital Services
BLS will capture the growth by cross-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 pr
Slide 21: Growth Strategies
Growth Strategies
Slide 22: Committed to exploring avenues for organic growth
Committed to exploring avenues for organic growth Aggressive Bidding Geographic Expansion Identify and enter new markets where demand for visa outsourcing services Follow an aggressive bidding strategy for new upcoming tenders is growing or untapped Recruit experienced resources and train them
Slide 23: Exploring inorganic growth route to accelerate growth trajectory
Exploring inorganic growth route to accelerate growth trajectory Actively scouting for strategic inorganic opportunities, which would provide synergy to the existing businesses, with an objective to maximize shareholder’s value 2018 2022 2024 Starfin India Private Zero Mass Private Limited iDATA Acq
Slide 24: Harnessing the power of technology to climb into the next orbit
Harnessing the power of technology to climb into the next orbit BLS leverages cutting-edge technology to strengthen the company’s brand, improve its competitive position and achieve scalability Delivering Tech-Enabled Services Globally Empowering the digital frontier AI-Driven Identity Language Data
Slide 25: Poised for resilient growth backed by Asset-light & Low-cost Business Model
Poised for resilient growth backed by Asset-light & Low-cost Business Model Revenue from Operations Net Worth Cash Balance* Cash from Operations +52% +39% +59% +99% 1,677 1,135 355 1,226 478 460 285 45 FY21 FY24 FY21 FY24 FY21 FY24 FY21 FY24 Growing Revenue and strong Margins will provide ample roo
Slide 26: Further supported by a Strong Leadership Team
Further supported by a Strong Leadership Team 40+ 42+ 10+ Years of Years of Years of experience experience experience Mr. Diwakar Aggarwal Mr. Nikhil Gupta Mr. Shikhar Aggarwal Chairman Managing Director Joint Managing Director Commerce graduate from CA and Honours degree in Bachelor's Degree from D
Slide 27: Q4 & FY24 Performance Highlights
Q4 & FY24 Performance Highlights
Slide 28: Q4 & FY24 Performance Snapshot
Q4 & FY24 Performance Snapshot FY24 Revenue EBITDA PAT Rs. 1,676.8 Crores Rs. 345.7 Crores Rs. 325.6 Crores Margin Margin +10.6% 20.6% 19.4% Q4 FY24 Revenue EBITDA PAT Rs. 447.7 Crores Rs. 90.3 Crores Rs. 85.5 Crores Vs. Margin Margin Rs. 448.6 Crores 20.2% 19.1% (Q4FY23) 27
Slide 29: Key Financial Highlights
Key Financial Highlights Revenue from Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) +11% YoY 14.8% 20.2% 14.6% 20.6% 17.1% 19.1% 13.5% 19.4% 1,676.8 400 1,516.2 350.00 +56% 350 +59% 300 345.7 300.00 325.6 250.00 250 221.1 200.00 200 150 150.00 448.6 447.7 100 204.3 100.00 90.3 66.5 76.7
Slide 30: Segmental Highlights
Segmental Highlights Visa & Consular Services Digital Services Revenue & EBITDA Margin (%) Revenue & EBITDA Margin (%) 14.8% 20.8% 14.8% 22.1% 15.1% 17.3% 13.4% 14.3% +8% YoY 1,600 500 1,400 +23% YoY 400 1,200 1,361.8 1,259.9 1,000 300 800 600 200 315.0 400 256.3 370.4 100 200 370.9 77.7 - - 77.3 Q4
Slide 31: Q4 & FY24 Profit & Loss Statement
Q4 & FY24 Profit & Loss Statement Particulars (₹ in Crore) Q4FY24 Q4FY23 YoY Q3FY24 QoQ FY24 FY23 YoY Revenue from Operations 447.7 448.6 (0.2%) 437.9 2.2% 1,676.8 1,516.2 10.6% Gross Profit 202.6 142.0 182.8 712.4 487.6 Gross Margin (%) 45.3% 31.7% 41.7% 42.5% 32.2% Employee & Operating Expenses 11
Slide 32: Historical Performance Highlights
Historical Performance Highlights 31
Slide 33: Key Financials
Key Financials Revenue from Operations c EBITDA & EBITDA Margin (%) +52% 1,676.8 8.3% 12.6% 14.6% 20.6% 1,516.2 849.9 345.7 478.4 221.0 39.7 106.9 FY21 FY22 FY23 FY24 PAT & PAT Margin (%) FY21 FY22 FY23 FY24 10.5% 13.1% 13.5% 19.4% Net Worth 1,400 1,226 1,200 325.6 1,000 803 570 800 600 460 50.3 204
Slide 34: Key Ratios
Key Ratios Return on Capital Employed c Return on Equity 25.4% 26.6% 28.1% 28.9% 19.5% 22.4% 10.9% 11.0% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Cash Balance Growth Current Ratio (x) 1,135 11.8 1,200 14.0 12.0 1,000 7.7 10.0 7.3 800 556 5.7 8.0 407 600 285 6.0 400 4.0 200 2.0 - - FY21 FY22 FY23 FY24
Slide 35: Historical P&L Statement
Historical P&L Statement Particulars (₹ in Crore) FY21 FY22 FY23 FY24 Revenue from Operations 478.4 849.9 1,516.2 1,676.8 Gross Profit 141.8 276.0 487.6 712.4 Gross Margin (%) 29.7% 32.5% 32.2% 42.5% Employee & Operating Expenses 102.1 169.1 266.6 366.8 EBITDA 39.7 106.9 221.0 345.7 EBITDA Margin (%
Slide 36: Historical Balance Sheet
Historical Balance Sheet (Rs. in Cr) Mar’23 Mar’24 (Rs. in Cr) Mar’23 Mar’24 Share Capital 41.2 41.2 Fixed Assets incl. CWIP 98.6 168.3 Intangible Assets 53.7 45.8 Shareholders' Funds 802.9 1,226.4 Goodwill 81.4 81.4 Non controlling Interest 34.3 215.5 Deferred Tax (Net) 7.7 2.4 Provisions 3.6 5.0 I
Slide 37: Cash Flow Statement
Cash Flow Statement Cash Flow Statement FY21 FY22 FY23 FY24 Cash Flow from Operating Activities Profit Before Tax 48.4 114.0 220.5 352.1 Operating Profit before Working Capital Changes 47.9 144.3 266.0 371.4 Cash Generated from Operations after Working Capital changes 45.5 192.3 279.4 369.4 Income T
Slide 38: Annexures
Annexures
Slide 39: Shareholding Information
Shareholding Information Shareholding Pattern Shareholder Information as on 31st March 2024 Promoters BSE Ticker: 540073 71.52% DII NSE Symbol: BLS FII MSE Symbol: BLS Bodies Corporate Market Cap (in Rs. Crores): 12,935 1.05% Others 7.67% 5.24% % Free- float: 28.38% 14.52% FF Market Cap (in Rs. Cror
Slide 40: Awards and Accolades
Awards and Accolades The Extraordinaire- Game Changer.’ Mr. Shikhar Aggarwal Joint Times Network National Awards for Marketing Excellence in Managing Director was felicitated at NexBrand’s Brand Vision Travel & Tourism industry Summit 2022 Mr. Shikhar Aggarwal, Joint Managing Director, won the ‘Youn
Slide 41: Thank You
Thank You Mr. Amit Sudhakar, CFO Ernst & Young LLP amit.sudhakar@blsinternational.com Vikash Verma / Rohit Anand / Riddhant Kapur vikash.verma1@in.ey.com / Mr. Gaurav Chugh, Head – Investor Relations gaurav.chugh@blsinternational.com rohit.anand4@in.ey.com / riddhant.kapur@in.ey.com 40
BLS International Services — Q4 FY24 Earnings Presentation on 6ix