Bls International Services Ltd. · NSE:BLS
Bls International Services — Q3 FY23 Earnings Presentation
25 slides from Bls International Services's earnings presentation, Feb 6, 2023
Slide 1: Regulation 30 cover letter to stock exchanges
February 06, 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,
Slide 2: Investor Presentation Q3 & 9M FY23
Investor Presentation Q3 & 9M FY23
Slide 3: Q3 FY23 Highlights
RIS Q3 FY23 Highlights INTERNATIONAL
Slide 4: Management Discussion & Analysis of Results
Management Discussion & Analysis of Results Company registers highest ever Operational Revenue of Rs 437.90 Cr & Highest ever quarterly EBITDA at Rs. 66.30 in Q3 FY23 Consolidated Revenues stood at ₹ 437.90 crores in Q3 FY23, up by 92.86% from ₹ 227.06 crores in Q3 FY22, mainly driven by strong
Slide 5: Financial Highlights
Financial Highlights Revenue (Rs Cr) EBITDA (Rs Cr) & EBITDA Margin (%) PAT (Rs Cr) & PAT Margin (%) Quarterly Highlights 11.2% 15.1% 12.5% 10.5% 437.9 66.3 45.8 92.9% 62.1% 227.1 159.7% 28.3 25.5 Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 12.1% 14.5% 12.8% 11.9% 9 Month Highlights 1067.6 127.5
Slide 6: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement (Rs. in Cr) Q3 FY23 Q3 FY22 % Change Q2 FY23 Q3 FY23 operational revenue up Revenue 437.90 227.06 92.86% 356.84 92.9% YoY driven by continued strong recovery in visa & consular Gross Profit 135.69 74.66 81.75% 120.50 business and other businesses. (Gross Marg
Slide 7: Consolidated Profit and Loss Statement
Consolidated Profit and Loss Statement (Rs. in Cr) 9M FY23 9M FY22 % Change Revenue 1067.56 596.05 79.11% Gross Profit 345.55 192.67 79.35% (Gross Margin) 32.37% 32.32% 5 bps Operating expenses 91.97 66.18 EBITDA 154.47 71.89 114.88% (EBITDA Margin) 14.47% 12.06% 241 bps Other Income 14.25 9.89 Depr
Slide 8: Segmental Revenue Highlights
Segmental Revenue Highlights FY23 FY22 10% 17% Q3 YOY 83% 90% Visa & Consular Digital Services Visa & Consular Digital Services 17% 11% 9M YOY 83% 89% 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% 69.32% & 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
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 (~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 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 for 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 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) 493 163 407 124 118 239 277 92 173 60 FY19 FY20 FY21 FY22 9M FY23 FY19 FY20 FY21 FY22 9M FY23 ROCE* (%) 28% 22% 17% 11% FY20 FY21 FY22 9M FY23** ROCE excl. cash * ROCE = EBIT/(S
Slide 20: Historical Consolidated P&L Highlights
Historical Consolidated P&L Highlights (Rs. in Cr) FY19 FY20 FY21 FY22 9M FY23 Revenue 804 786 478 850 1068 Gross Profit 266 236 142 276 346 (Gross Margin) 33% 30% 30% 33% 32% Operating expenses 157 153 102 169 92 EBITDA 108 83 40 107 154 (EBITDA Margin) 13% 11% 8% 13% 14% Finance Cost 10 2 0.5 0.7
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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