Slide 1: Investor Presentation filing letter to exchanges
May 13, 2024 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 ISIN: INE0NLT01010 ISIN: INE0NLT01010 Su
Slide 2: E-Governance
wana sad E-GOVERNANCE es uae 6)
Slide 3: Safe Harbor
Safe Harbor b 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 for
Slide 4: Contents
Contents
Slide 5: Highlights
Highlights
Slide 6: Q4FY24 Performance Snapshot
Q4FY24 Performance Snapshot b Financials (FY24) aa ue Total Revenue a EBITDA emmrsre|esseocon eammrere|es+eocnN emmtreess-ms Rs. 309.6 Crores Rs. 49.9 Crores Rs. 45.7 Crores eee ee =e Margin Margin + 25.7% 16.1% 14.8% —— ee ee ee Financials (Q4 FY24) a eee Total Revenue a EBITDA — a oh, a emmrescecc
Slide 7: Key Financial Highlights
Key Financial Highlights b Total Revenue EBITDA & EBITDA Margin (%) PBT & PBT Margin (%) 17.8% 20.3% 14.7% 16.1% 15.7% 18.3% 12.0% 14.8% 309.6 246.3 49.9 36.3 29.6 “ “ 73.6 78.7 16.0 144 Q4FY23 QA4FY24 FY23 FY24 QAFY23 — QAFY24 —FY23 F224 Q4FY23 Q4FY24 = FY23. F244 Before Exceptional Items G » Reven
Slide 8: Key Business Updates
Key Business Updates b @ » In February 2024, the company successfully completed its listing on BSE & NSE, with a ~ Rs. 300 Crores IPO. The net proceeds from the IPO will be deployed to strengthen the technology infrastructure, consolidate the existing platform, funding for setting up BLS Stores and
Slide 9: Q4 & FY24 Profit & Loss Statement
Q4 & FY24 Profit & Loss Statement a i==EH Revenue from operations 1.3% 2.8% 301.5 243.1 24.0% Other Income 5.1 0.9 1.2 8.1 3.2 Total Revenue 78.7 73.6 6.9% 72.8 8.1% 309.6 246.3 25.7% Total Operating Expenses 62.8 60.5 61.3 259.6 210.0 EBITDA 16.0 13.1 21.8% 11.5 39.1% 49.9 36.3 37.6% EBITDA Margin
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Slide 11: BLS E-Services at a Glance
BLS E-Services at a Glance b » BLS E-Services Limited (BLSe), through its tech-enabled integrated business model, provides digital and physical products and services in the G2C, B2C, B2B categories in semi-urban, rural and remote areas. 100,000+ 1,000+ Touchpoints BLS Stores » BLSe has three busines
Slide 12: Key Milestones
Key Milestones Acquisition of shareholding in Listing of BLSe on NSE and Acquisition of Starfin India BLS Kendras Private Limited BSE through a Rs. 300 Private Limited by way of equity swap Crores IPO; subscribed 162x 2016 2018 2022 2022 2023 2024 — N— — N— Incorporation of BLS-E Conversion of Compa
Slide 13: Tech-enabled Digital Service Offerings
Tech-enabled Digital Service Offerings b » BLS works as Business Correspondents >» Government services facilitated to for Banks i.e., being an extended arm of citizens directly via BLS owned kiosks the Banks to increase accessibility of their such as BLS Sewa. services to the citizens. » This involv
Slide 14: Bouquet of Services Provided by BLSe
Bouquet of Services Provided by BLSe b > Banking CSP > Insurance >» Micro ATM » E-learning / BLS Edutech » AEPS » Telemedicine > Travel » Refurbished Smart Phones >» Money Transfer » Assisted E-Commerce » Ayushmaan Bharat PM-JAY » VISA & Passport Application » Recharge » PAN Card Services » IRCTC Tr
Slide 15: Business Correspondent Services
Business Correspondent Services b 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 » Hig
Slide 16: E-Governance & Assisted E-Services
E — Governance & Assisted E-Services b One stop shop platform to offer citizen centric services B2B2C Services being provided of all the Government Departments. Majorly: Identity through Portal & Mobile App enrolment & updation, certificates, etc. » Efficient and cost-effective » Jan Seva Kendra (CS
Slide 17: Cross-selling and Up-selling under Digital Services
Cross-selling and Up-selling under Digital Services b 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 & servi
Slide 18: Board & Management
Board & Management - “S He holds a bachelors from Delhi University. He has over 10 years of experience and is the Joint Managing Director of BLS International Services Ltd. His business acumen and innovative thinking have played a vital role in the BLS International's Shikhar Aggarwal Chairman expon
Slide 19: Corporate Structure
Corporate Structure b BLS International Services Limited & BLS Promoters BLS E-Services Limited Starfin India Pvt Ltd BLS Kendras Pvt Ltd (BC Business) (E-Governance Business) 100.0% Zero Mass Pvt Ltd (BC Business) BLS E-SE RVICES Only key operational subsidiaries have been included 18
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Slide 21: Industry Overview
Industry Overview b Business Correspondent Industry » Business Correspondent (BCs) work ona commission-based model. The commission is paid as a certain percentage of the value transacted ora E-Governance fixed fee per transaction depending on the Assisted E-Services Services Industry agreement. Indu
Slide 22: Industry Dynamics & Key Growth Drivers
Industry Dynamics & Key Growth Drivers Li TT =H India’s population surpassed China in January 2023 and has become the most populous country. Additionally, India is expected to be the fastest growing economy. This would lead to significant demand for E-services, Banking Correspondent Services as well
Slide 23: Business Correspondent (BC) — An Overview
Business Correspondent (BC) — An Overview b BC Industry is expected to grow at 19% CAGR from FY22 to FY25P >» BCs work on a commission-based model. The commission is paid as a certain percentage of the value transacted or a BC Industry Size (in Rs. Billion) CAGR ; 1 fixed fee per transaction dependi
Slide 24: Business Correspondent — Key Statistics (1)
Business Correspondent -— Key Statistics (1) b Amount transacted in BSBDA accounts through Number of transactions in Basic BCs increased over the years (Rs. Billion) Savings Account through BCs % 49% sem 43% 8% 41% . 35% 6 26% 29% ose... 1184,. 1251074 123, 1168 878 726 876 474 285 391 164 | (J = |
Slide 25: Business Correspondent — Key Statistics (2)
Business Correspondent -— Key Statistics (2) b Number of transactions in Basic Savings Presence of Banking Outlets in Villages (in ‘000) Account through BCs (in Million) 59%% 60%y 60%0 52% 34% 56% aus 4% 95% 98% 97% 408 91% 91% 90% 91% 90% 221902274 e - . ° e e e e e 1679 1735 80 289 27 1190 1248 53
Slide 26: Opportunity in E-Governance for the next phase of growth
Opportunity in E-Governance for the next phase of growth b 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 China 0.8119 0.8876 Russia 0.8162 0.7368 EGDI Composite Score 0.3834 0.5883 Brazil
Slide 27: Advantages of E-Governance
Advantages of E-Governance b Enhance delivery and efficiency of Convenience to Citizens government services and Businesses Efficient government Significant reduction in Cost with management simultaneous growth in revenues Empower Citizens through (03) (08) Increased legitimacy access to information
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Slide 29: Key Financial Highlights
Key Financial Highlights b Revenue EBITDA & EBITDA Margin +68% CAGR 309.6 49.9 246.3 36.3 98.4 65.2 oH 5.5 8.6 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 PAT & PAT Margin Net Worth 431.1 33.5 20.4 106.9 9.7 15.1 [| —_ >" a- L FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24* * FY24 includes ~ Rs. 300 crores pro
Slide 30: Historical P&L Statement
Historical P&L Statement Consolidated (in Rs. Crores) FY21 FY22 FY23 FY24 Revenue from operations 243.1 301.5 Other Income 0.7 1.7 3.2 8.1 Total Revenue 65.2 98.4 246.3 309.6 Total Expense 59.7 89.8 210.0 259.6 EBITDA 5.5 8.6 36.3 49.9 EBITDA Margin 8.4% 8.7% 14.7% 16.1% Finance costs 1.5 1.0 3.9 0.
Slide 31: Historical Balance Sheet
Historical Balance Sheet b Consolidated (in Rs. Crores) FY21 FY22 FY23 FY24 ASSETS Non-current assets Property, Plant and Equipment 0.1 0.2 1.1 4.7 Goodwill 8.0 8.0 81.5 81.5 Other Non-Current Assets 11.8 20.9 26.7 115.0 Current Assets Inventories c 0.6 1.6 Trade Receivables 8.8 8.5 18.2 25.2 Other
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Slide 33: Investment Rationale
Investment Rationale b Merchant led business BLSe’s ability to bring BLSe charge consumers BLSe have a history of BLSe has Pan India model wherein all the BLS together the advantages with a service fee and acquiring complementary presence through its touch points & BLS E- of G2C, B2B and B2C transac
Slide 34: Way forward
Way forward b Organic growth » Focus on volume led growth across the three verticals of BCs, E-Gov & Assisted E-services » Follow an aggressive strategy to win new government tenders for E-governance business » New tieups with financial institutions viz Banks, Insurance companies, NBFC,etc » Continu
Slide 35: Contact details
RLS EY BLS E-Services Limited Ernst & Young LLP Mr. Rahul Sharma, Executive Director & CFO Vikash Verma / Rohit Anand / Riddhant Kapur cs@blseservices.com vikash.vermal@in.ey.com / rohit.anand4@in.ey.com / riddhant.kapur@in.ey.com 34