Bls E-services Limited · NSE:BLSE
Bls E-services — Q4 FY25 Earnings Presentation
37 slides from Bls E-services's earnings presentation, May 15, 2025
Slide 1: Exchange filing cover letter for Investor Presentation
May 15, 2025 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 Subject: Investor Presentation Dear Sir
Slide 2: Investor Presentation Q4 & FY25
Investor Presentation Q4 & FY25 Banking Store Investment G2C May 2025 1
Slide 3: Safe Harbor
Safe Harbor 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 form
Slide 4: Contents
Contents Q4 & FY25 Performance Highlights Historical Performance Highlights Company Overview Industry Overview Key Investment Highlights 3
Slide 5: Q4 & FY25 Performance Highlights
Q4 & FY25 Performance Highlights 4
Slide 6: Consolidated Financial Highlights
Consolidated Financial Highlights BLS E-Services Reports Stellar Financial Performance in FY25 Total Income surged by 76.0% YoY to Rs. 545.0 Crores EBITDA grew by 72.5% to Rs. 86.1 Crores compared to Rs 49.9 Crores in FY24 EBITDA Margin stood at 15.8% in FY25 Profit After Tax (PAT) grew by 75.4%
Slide 7: Consolidated Financial Snapshot – Q4 & FY25
Consolidated Financial Snapshot – Q4 & FY25 Full Year FY25 - Strong growth trajectory Total Income EBITDA* PAT Rs. 545.0 Crores Rs. 86.1 Crores Rs. 58.8 Crores 72.5 YoY 75.4% YoY 76.0% YoY EBITDA Margin*: 15.8% PAT Margin: 10.8% Q4FY25 - Reported a robust overall financial performance Total Income E
Slide 8: Consolidated Business Updates – FY25
Consolidated Business Updates – FY25 Business highlights – Consolidated BLS E-Services crossed Rs. 87,000 Crores in Gross Transaction Value (GTV) in FY25 compared to Rs 72,000 Crores of GTV in FY24 Total number of transactions stood at more than 14.0 Crores transactions in FY25 versus 13.3 Crores
Slide 9: Consolidated Key Financial Highlights – FY25
Consolidated Key Financial Highlights – FY25 Total Income EBITDA* & EBITDA Margin* (%) PAT & PAT Margin (%) +76% 600.00 150.00 16.1% 15.8% 10.8% 10.8% 545.0 140.00 130.00 500.00 +72% 120.00 110.00 400.00 90.00 100.00 +75% 86.1 300.00 80.00 309.6 70.00 60.00 200.00 50.00 49.9 40.00 58.8 30.00 100.00
Slide 10: Consolidated Key Financial Highlights – Q4FY25
Consolidated Key Financial Highlights – Q4FY25 Total Income EBITDA* & EBITDA Margin* (%) PAT & PAT Margin (%) +211% 20.3% 10.4% 13.9% 7.1% 300.00 70.00 60.00 60.00 250.00 245.2 50.00 50.00 200.00 40.00 +59% 40.00 +59% 150.00 30.00 30.00 100.00 25.4 20.00 20.00 50.00 78.7 10.00 16.0 10.00 17.3 10.9 0
Slide 11: Consolidated Profit & Loss Statement – Q4 & FY25
Consolidated Profit & Loss Statement – Q4 & FY25 Particulars (₹ in Crore) Q4FY25 Q4FY24 YoY FY25 FY24 YoY Revenue from Operations 239.2 73.6 224.8% 519.4 301.5 72.3% Other Income 6.0 5.1 25.7 8.1 Total Income 245.2 78.7 211.5% 545.0 309.6 76.0% Cost of Services 202.2 52.2 401.3 207.6 Employee Benefi
Slide 12: Historical Financial Highlights
Historical Financial Highlights
Slide 13: Consolidated Key Financial Highlights
Consolidated Key Financial Highlights Total Income c EBITDA* & EBITDA Margin* 8.7% 14.7% 16.1% 15.8% +77% CAGR +116% CAGR 545.3 309.6 86.1 246.3 49.9 36.3 98.4 8.6 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 PAT & PAT Margin Net Worth 5.5% 8.3% 10.8% 10.8% 482.7 431.1 +122% CAGR 58.8 33.5 20.4 106.9 5.4
Slide 14: Consolidated Historical P&L Statement
Consolidated Historical P&L Statement Particulars (in Rs. Crores) FY22 FY23 FY24 FY25 Revenue from Operations 96.7 243.1 301.5 519.4 Other Income 1.7 3.2 8.1 25.7 Total Income 98.4 246.3 309.6 545.0 Cost of Services 63.5 161.7 207.6 401.3 Employee Benefit Expenses 6.4 23.2 29.7 37.1 Other Expenses 1
Slide 15: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet Particulars (in Rs. Crores) Mar-22 Mar-23 Mar-24 Mar-25 ASSETS Non-current assets Property, Plant and Equipment 0.2 1.1 4.7 5.5 Goodwill 8.0 81.5 81.5 135.7 Other Non-Current Assets 20.9 26.7 115.0 225.3 Current Assets Inventories - 0.6 1.6 0.5 Trade Receivables
Slide 16: Company Overview
Company Overview
Slide 17: BLS E-Services at a Glance
BLS E-Services at a Glance BLS E-Services Limited (BLSe), through its tech-enabled integrated business model, 1,42,000+ 1,000+ provides digital and physical products and services in the G2C, B2C, B2B categories in semi-urban, rural and remote areas. Touchpoints^ BLS Stores BLSe has three busines
Slide 18: Key Milestones
Key Milestones Listing on NSE and BSE; Acquisition of shareholding in BLS Acquisition of Starfin India Acquisition of 57% stake in ASPL*, one Kendras Private Limited by way of Private Limited of the largest players engaged in loan equity swap distribution & processing in India 2016 2018 2022 2022 20
Slide 19: Tech-enabled Digital Service Offerings
Tech-enabled Digital Service Offerings BLS works as Business Correspondents for Government services facilitated to citizens Banks i.e., being an extended arm of the Banks directly via BLS owned kiosks such as BLS to increase accessibility of their services to the Sewa. citizens. This involves
Slide 20: Bouquet of Services Provided by BLSe
Bouquet of Services Provided by BLSe 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 Train
Slide 21: Business Correspondent Services
Business Correspondent Services 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 Highl
Slide 22: E-Governance & Assisted E-Services
E – Governance & Assisted E-Services One stop shop platform to offer citizen centric services of all the B2B2C Services being provided Government Departments. Majorly: Identity enrolment & through Portal & Mobile App updation, certificates, etc. Efficient and cost-effective Jan Seva Kendra (CSC)
Slide 23: Cross-selling and Up-selling under Digital Services
Cross-selling and Up-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 products & service
Slide 24: Corporate Structure
Corporate Structure BLS International Services Limited Public & BLS Promoters 68.9% 31.1% BLS E-Services Limited Starfin India Pvt Ltd BLS Kendras Pvt Ltd (BC Business) (E-Governance Business) 100.0% 100.0% Zero Mass Pvt Ltd Aadifidelis Solutions Pvt Ltd (BC Business) (BC Business) 90.9% 57.0% Only
Slide 25: Industry Overview
Industry Overview 24
Slide 26: Industry Overview
Industry Overview Business Correspondent Industry Business Correspondent (BCs) work on a commission-based model. The commission is paid as a certain percentage of the value transacted or E-Governance a fixed fee per transaction depending on the Assisted E-Services Services Industry agreement. Indu
Slide 27: Industry – Key Takeaways
Industry – Key Takeaways Favourable Macroeconomic Indicators Increasing Population and No. of Households Rising GDP and increase in Middle-Income Households Digital Assistance transforming Citizen Services in India - Digital Payments Surge: Index Rises from 153.4 in FY19 to 445.5 in FY24 India
Slide 28: Industry Dynamics & Key Growth Drivers
Industry Dynamics & Key Growth Drivers 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 as assis
Slide 29: India's Digital Assistance Market – Rapid Growth Driven by Technology (1/2)
India’s Digital Assistance Market– Rapid Growth Driven by Technology (1/2) PMJDY Drives 0.55 B Beneficiaries & Rs. 2,452 Bn in Deposits by FY25 Surge in Authentication Transactions (Bn) 4,000 1.00 0.90 Deposits in accounts (INR Bn) Number of beneficiaries (Bn) AGR 3,500 20.7% C 22.9 0.80 3,000 0.55
Slide 30: India's Digital Assistance Market – Rapid Growth Driven by Technology (2/2)
India’s Digital Assistance Market– Rapid Growth Driven by Technology (2/2) Remarkable Growth in India’s Digital Payments Method: UPI Soars with 79.9% CAGR from FY20 to FY24 Trend in Volume of Payments (Bn) Trend in Value of Payments (Rs. Tn) FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 131.1 39
Slide 31: Business Correspondent – Key Statistics
Business Correspondent – Key Statistics BC’s Handle 60.5% of BSDA Transactions in CY24, Up from 55.6% in CY19, Highlighting Their Role in Financial Inclusion Transaction in BSBDA through BCs by Value (Rs. Bn) 700 Transaction in BSBDA through BCs by Volume (Mn) 70.0% 3000 70.0% 600 58.8% 60.1% 60.2%
Slide 32: E Governance – Key Statistics
E Governance– Key Statistics 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 Composite Score 0.3834 0.5883 Braz
Slide 33: Advantages of E-Governance
Advantages of E-Governance Enhance delivery and efficiency of government services 01 10 Convenience to Citizens and Businesses Efficient government management 02 09 Significant reduction in Cost with simultaneous growth in revenues Empower Citizens through access to information 03 08 Increased legit
Slide 34: Key Investment Highlights
Key Investment Highlights
Slide 35: Investment Rationale
Investment Rationale 01 02 03 04 05 Merchant led business BLSe’s ability to bring BLSe charge consumers BLSe have a history of BLSe has Pan India presence model wherein all the BLS together the advantages with a service fee and acquiring complementary throu g h i ts w i d es p r ea d touch points &
Slide 36: Way Forward
Way Forward 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 tie-ups with financial institutions viz Banks, Insurance companies, NBFC, etc. Contin
Slide 37: Thank You
Thank You BLS E-Services Limited Ernst & Young LLP Mr. Rahul Sharma, Executive Director & CFO Vikash Verma / Rohit Anand / Riddhant Kapur cs@blseservices.com vikash.verma1@in.ey.com / rohit.anand4@in.ey.com / riddhant.kapur@in.ey.com 36