BLS International Services Limited - Clarification on order issued by Ministry of External Affairs

BLS International Services Limited ("BLS International"), an Indian multi-national corporation and a trusted global tech-enabled services partner for governments and citizens, informed the Exchanges and Investors of a recent directive issued by the Ministry of External Affairs (MEA), which temporarily restricts the company from participating in new Indian Mission tenders for a period of two years.

This development does not impact the company's current financials or ongoing operations. All existing contracts with Indian Missions across the globe remain valid and continue to operate as scheduled. Additionally, the order will not have any significant bearing on the company's financial outlook.

In Q1FY26, Indian Missions contributed ~12% to the consolidated revenue and ~8% of EBITDA of the company.

The company is working to resolve the matter. The company views this as a procedural development within the visa outsourcing industry and remains confident of a constructive resolution in due course.

Over the past few years, BLS International has strategically diversified its business portfolio, securing new and renewed contracts with key government and institutional clients across the United States, United Arab Emirates, Spain, Slovakia, Hungary, Poland, Portugal, and through the UIDAI project in India. The company further strengthened its overall business momentum by acquiring iDATA and Citizenship Invest during the last financial year. This diversification has strengthened its revenue mix and reinforced the company's resilience against regional developments.

The company continues to maintain its growth trajectory, underpinned by robust business fundamentals and a well-balanced global portfolio. BLS International remain committed to delivering value to its investors and stakeholders.

Shares of BLS International Services Limited was last trading in BSE at Rs. 337.20 as compared to the previous close of Rs. 337.30. The total number of shares traded during the day was 140083 in over 3793 trades.

The stock hit an intraday high of Rs. 349.20 and intraday low of 336.30. The net turnover during the day was Rs. 47980909.00.

Source : Equity Bulls

Keywords

BLSInternationalServices INE153T01027 TravelSupportServices Clarification TemporaryRestriction MEA IndianMissionTenders