Bls International Services Ltd. · NSE:BLS
Bls International Services — Q2 & H1 FY25 Earnings Presentation
51 slides from Bls International Services's earnings presentation, Nov 11, 2024
Slide 1: Intimation of Investor Presentation to stock exchanges
November 11, 2024 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 No. Bandra Kurla Complex Bandra Towers, C62, G - Block, Opp. Trident Hotel, [E], Mumbai – 400051 Dalal Street,
Slide 2: Investor Presentation Q2 & H1 FY25
Investor Presentation Q2 & H1 FY25 November 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 Q2 & H1 FY25 Performance Highlights o BLS International - Consolidated o Visa & Consular Business o Digital Business BLS International Overview Visa & Consular Business Digital Business Growth Strategies Annual Performance Highlights o BLS International o Visa & Consular Busines
Slide 5: Q2 & H1 FY25 Performance Highlights: BLS International
Q2 & H1 FY25 Performance Highlights BLS International
Slide 6: Consolidated Performance Highlights – Q2 FY25
Consolidated Performance Highlights – Q2 FY25 Consolidated business Highest ever financial performance Ø Revenue of the company was at Rs. 495.0 Crores in Q2FY25, up by 21.4% YoY from Rs. 407.7 Crores in Q2FY24 Ø EBITDA stood at Rs. 164.0 Crores, up by 89.1% YoY, while EBIDTA Margin surged to 33.1
Slide 7: Consolidated Financial Snapshot – Q2 FY25
Consolidated Financial Snapshot – Q2 FY25 Q2 FY25 Revenue EBITDA PAT Rs. 495.0 Crores Rs. 164.0 Crores Rs. 145.7 Crores 21.4% YoY 89.1% YoY 77.7% YoY EBITDA Margin PAT Margin 33.1% 29.4% 1,186 bps YoY 933 bps YoY 6
Slide 8: Consolidated Financial Snapshot – H1 FY25
Consolidated Financial Snapshot – H1 FY25 H1 FY25 Revenue EBITDA PAT Rs. 987.7 Crores Rs. 297.2 Crores Rs. 266.5 Crores 24.8 % YoY 78.2 % YoY 74.2 % YoY EBITDA Margin PAT Margin 30.1 % 27.0 % 901 bps YoY 765 bps YoY 7
Slide 9: Consolidated Key Financial Highlights – Q2 FY25
Consolidated Key Financial Highlights – Q2 FY25 Revenue from Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) +21% 21.3% 27.0% 33.1% 20.1% 24.5% 29.4% 492.7 495.0 +89% +78% 407.7 200.00 200.0 +23% 180.00 160.00 +21% 164.0 150.0 140.00 133.2 120.00 120.8 145.7 100.00 100.0 80.00 86.7 60.00
Slide 10: Consolidated Key Financial Highlights – H1 FY25
Consolidated Key Financial Highlights – H1 FY25 Revenue from Operations EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) +25% 21.1% 30.1% 19.3% 27.0% 987.7 400 791.2 350 +78% 400.00 350.00 +74% 300 250 297.2 300.00 250.00 200 200.00 266.5 166.8 150 150.00 100 100.00 153.0 50 50.00 - - H1 FY24 H1 FY25
Slide 11: Consolidated Profit & Loss Statement – Q2 & H1 FY25
Consolidated Profit & Loss Statement – Q2 & H1 FY25 Particulars (₹ in Crores) Q2FY25 Q2FY24 YoY Q1FY25 QoQ H1FY25 H1FY24 YoY FY24 Revenue from Operations 495.0 407.7 21.4% 492.7 0.5% 987.7 791.2 24.8% 1,676.8 Cost of Services 178.8 236.0 242.4 421.2 462.8 964.7 Employee Benefit Expenses 75.9 48.4 71
Slide 12: Q2 & H1 FY25 Performance Highlights: Visa & Consular Business
Q2 & H1 FY25 Performance Highlights Visa & Consular Business
Slide 13: Key Financial Highlights (Visa & Consular Business) – Q2 FY25
Key Financial Highlights (Visa & Consular Business) – Q2 FY25 Revenue from Operations EBITDA & EBITDA Margin (%) +30% 22.8% 29.3% 36.4% +1% 417.6 +107% 414.1 190.00 170.00 +25% 322.2 150.00 130.00 152.0 110.00 90.00 121.3 70.00 50.00 73.5 30.00 10.00 Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 (10.00)
Slide 14: Key Financial Highlights (Visa & Consular Business) – Q2 FY25
Key Financial Highlights (Visa & Consular Business) – Q2 FY25 Revenue & EBITDA Margin # of Applications (Lakhs) Net Revenue per Application * (Rs.) 3,100 22.8% 21.7% 20.8% 29.3% 36.4% 2,900 450.00 2,700 414.1 417.6 400.00 364.4 370.4 350.00 2,500 322.2 300.00 2,300 2,883 250.00 10.10 2,653 2,100 8.5
Slide 15: Key Financial Highlights (Visa & Consular Business) – H1 FY25
Key Financial Highlights (Visa & Consular Business) – H1 FY25 Revenue from Operations EBITDA & EBITDA margin (%) +33% 23.0% 32.9% +89% 831.8 273.3 627.0 144.4 H1 FY24 H1 FY25 H1 FY24 H1 FY25 Revenue grew by 32.7% YoY from Rs. 627.0 Crores in H1 FY24 to Rs. 831.8 Crores in H1 FY25 EBITDA surged b
Slide 16: Q2 & H1 FY25 Performance Highlights: Digital Business
Q2 & H1 FY25 Performance Highlights Digital Business
Slide 17: Key Financial Highlights (Digital Business) – Q2 FY25
Key Financial Highlights (Digital Business) – Q2 FY25 Revenue from Operations EBITDA & EBITDA Margin (%) 15.5% 15.2% 15.5% 28.00 85.6 23.00 78.5 77.4 18.00 13.00 13.3 8.00 11.9 12.0 3.00 (2.00) Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1FY25 Q2FY25 Revenue from operations were recorded at Rs. 77.4 Crores in Q2
Slide 18: Key Financial Highlights (Digital Business) – H1 FY25
Key Financial Highlights (Digital Business) – H1 FY25 Revenue from Operations EBITDA & EBITDA Margin (%) 13.6% 15.3% 180.00 28.00 +7% 160.00 164.3 140.00 155.9 23.00 23.9 120.00 18.00 22.4 100.00 13.00 80.00 60.00 8.00 40.00 3.00 20.00 0.00 (2.00) H1FY24 H1FY25 H1FY24 H1FY25 Revenue from operation
Slide 19: BLS International Overview
BLS International Overview
Slide 20: BLS International: At a Glance
BLS International: At a Glance Operationalized in 2005, BLS International is a leading global provider of Tech-enabled services for Governments and Citizens under its two businesses – Visa & Consular Services and Digital Services. Visa & Consular Services (81% of FY24 Revenue) – BLS is one of the
Slide 21: Journey to being One of the Largest Visa & Consular Player
Journey to being One of the Largest Visa & Consular Player Foundation & Establishment Stage Emerged as a Prominent Player 2005 - 2015 2016-2021 2022 - 2024 Vision Beyond Operationalized in 2005 and is a part of BLS group Listed on NSE, BSE & Metropolitan Stock Exchange in Visa & Consular Service
Slide 22: BLS Corporate Structure
BLS Corporate Structure 100% 51% 51% BLS International FZE SLW Media BLS E-Services Limited Visa & Consular Business in other Digital Business Sports Management countries International Subsidiaries/Partners* UK USA UAE Russia Saudi Arabia Starfin India Pvt Ltd Zero Mass Pvt Ltd BLS Kendra Pvt Ltd (e
Slide 23: Strong Leadership Team
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 Delhi University Economi
Slide 24: Visa & Consular Business
Visa & Consulét Business yp
Slide 25: 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 over 66 countries through a wide network of global offices Core Services include: Co
Slide 26: 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 Transmission of data to the Cash embassy/ consulate via the management world’s most secure servers 06
Slide 27: Acquisitions as a Catalyst for Sustained Growth
Acquisitions as a Catalyst for Sustained Growth iDATA, Turkey Citizenship Invest, Dubai SLW Media, India • Founded in 2005 • Founded in 2009 • Founded in 2010 • Visa processing & consular service provider • Investor programs for residency & citizenship • Sports management company to HNWI • Germany,
Slide 28: 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 29: 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 Growth in Outsourcing of Visa Applicable Worldwide to further fuel up of VISA Application and other Value-added Service the need for global VISA processors like BLS Global Visa Indust
Slide 30: The MOATS that will drive us
The MOATS that will drive us 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 Diversification across 19+ Years of Global Geographies experience Presence in 70+ c
Slide 31: Digital Business
Digital Business
Slide 32: Brief Overview on Digital Business
Brief Overview on Digital Business Business Correspondent E-Governance Services Assisted E-Services Delivers last mile banking services through a robust Enables the provision of citizen-centric and Provides a variety of services & products through network of centers in rural and remote areas f
Slide 33: BLS will capture growth by cross-selling under Digital Services
BLS will capture 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 produc
Slide 34: Growth Strategies
Growth Strategies
Slide 35: Committed to exploring avenues for future growth
Committed to exploring avenues for future growth Aggressive Bidding Geographic Expansion Follow an aggressive bidding strategy for new upcoming tenders Identify and enter new markets where demand for visa outsourcing services Recruit experienced resources and train them around AI and is growin
Slide 36: 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 37: 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% +38% +59% +99% 1,677 1,208 1,135 355 478 460 285 45 FY21 FY24 FY21 FY24 FY21 FY24 FY21 FY24 Growing Revenue and strong Margins will provide ample roo
Slide 38: BLS International Annual Performance Highlights
BLS International Annual Performance Highlights 37
Slide 39: Historical Key Consolidated Financials
Historical Key Consolidated Financials Revenue from Operations c Gross Profit +43% +68% 1,676.8 1,516.2 712.4 566.5 987.7 487.6 849.9 141.8 276.0 478.4 FY21 FY22 FY23 FY24 H1FY25** FY21 FY22 FY23 FY24 H1FY25** EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 8.3% 12.6% 14.6% 20.6% 10.5% 13.1% 13.5% 1
Slide 40: Historical Key Consolidated Ratios
Historical Key Consolidated Ratios Return on Capital Employed c Return on Equity 31.5% 28.1% 28.9% 26.8% 26.6% 25.4% 22.4% 19.5% 11.0% 10.9% FY21 FY22 FY23 FY24 H1FY25** FY21 FY22 FY23 FY24 H1FY25** Net Cash Balance Growth Net Worth 1,135 1,600 1,428 1,208 1,200 902 1,400 1,000 1,200 800 556 1,000 8
Slide 41: Historical Consolidated P&L Statement
Historical Consolidated P&L Statement Particulars (₹ in Crore) FY22 FY23 FY24 H1 FY25 Revenue from Operations 849.9 1,516.2 1,676.8 987.7 Cost of Services 573.9 1,028.6 964.7 421.2 Employee Benefit Expenses 75.8 139.6 208.1 147.1 Other Expenses 93.3 126.9 158.3 122.3 EBITDA 106.9 221.1 345.7 297.2 E
Slide 42: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet Particulars (Rs. in Crores) Mar’24 Sep’24 Particulars (Rs. in Crores) Mar’24 Sep’24 Share Capital 41.2 41.2 Fixed Assets incl. CWIP 168.3 268.2 Shareholders' Funds 1,207.6 1,428.0 Intangible Assets 45.8 44.9 Non controlling Interest 234.0 248.1 Goodwill 81.4 665
Slide 43: Historical Consolidated Cash Flow Statement
Historical Consolidated Cash Flow Statement Rs. Crores March FY23 March FY24 September FY25 266 Operating Profit before WC changes 371 303 C/F from Operating 13 261 Changes in Working Capital (2) 350 71 342 activities (19) Direct Taxes (20) (33) (68) Purchase of Property, Plant and Equipment and Int
Slide 44: Annual Performance Highlights: Visa & Consular Business
Annual Performance Highlights Visa & Consular Business 43
Slide 45: Annual Key Financials (Visa & Consular Business)
Annual Key Financials (Visa & Consular Business) Revenue from Operations c Gross Profit & Gross Margin (%) +34% 32.5% 32.1% 45.2% 1,259.9 1,361.8 756.3 614.9 404.8 246.0 FY22 FY23 FY24 FY22 FY23 FY24 EBITDA & EBITDA Margin (%) Visa Business KPIs 14.6% 14.8% 22.1% 3.00 2,146 2,500 2.50 1,638 1,613 2,
Slide 46: Annual Performance Highlights: Digital Business
Annual Performance Highlights Digital Business 45
Slide 47: Annual Key Financials (Digital Business)
Annual Key Financials (Digital Business) Revenue from Operations c Gross Profit & Gross Margin (%) +84% 32.1% 32.3% 30.9% 315.0 256.3 97.2 93.6 82.7 30.0 FY22 FY23 FY24 FY22 FY23 FY24 EBITDA & EBITDA Margin (%) -3.4% 13.4% 14.3% 45.1 34.4 -3.2 FY22 FY23 FY24 in Rs. Crores Consolidated Financials CAG
Slide 48: Annexures
Annexures
Slide 49: Shareholding Information
Shareholding Information Shareholding Pattern Shareholder Information as on 30th September 2024 Promoters BSE Ticker: 540073 70.38% DII FII NSE Symbol: BLS Bodies Corporate MSE Symbol: BLS 1.72% 8.96% Others 3.69% Market Cap (in Rs. Crores): 15,127 15.25% % Free- float: 29.62% Top Shareholders FF Ma
Slide 50: 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 51: 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 50
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