BSE: 544107 | NSE: BLSE | Professional Services | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that BLS E-Services Ltd is a below average quality company.
The key valuation ratios of BLS E-Services Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of BLS E-Services Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 7.4% | -42.3% | 10.1% | 5% | - |
| Value Creation Index ⓘ | -0.5 | -4.0 | -0.3 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 1.7 | 10.3 | 20.5 | 39.7 | 52 |
| Sales YoY Gr. | - | 506.5% | 99.1% | 93.2% | - |
| Adj EPS ⓘ | 0.3 | -2.2 | 0.4 | 0.8 | 2.4 |
| YoY Gr. | - | -848.3% | NA | 88.1% | - |
| BVPS (₹) ⓘ | 4.7 | 2.5 | 13.8 | 43.2 | 44.8 |
| Adj Net Profit ⓘ | 0.9 | -6.5 | 2.8 | 7.2 | 22 |
| Cash Flow from Ops. ⓘ | 1.9 | 8.9 | 12.2 | 4 | - |
| Debt/CF from Ops. ⓘ | 5.9 | 0.8 | 2.9 | 7.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 185.8% | 93.2% | ||||
| Adj EPS ⓘ | NA | NA | 39.7% | 88.1% | ||||
| BVPSⓘ | NA | NA | 109.5% | 212.3% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 6.1 | -60 | 5.7 | 3 | 5.5 |
| Op. Profit Mgn % ⓘ | -11.1 | -83 | 47.2 | 26.8 | 35.3 |
| Net Profit Mgn % ⓘ | 50.4 | -63.3 | 13.8 | 18.2 | 42.5 |
| Debt to Equity ⓘ | 0.8 | 1 | 0.4 | 0.1 | 0.1 |
| Working Cap Days ⓘ | 0 | 412 | 80 | 512 | 754 |
| Cash Conv. Cycle ⓘ | 0 | 298 | 15 | 26 | 696 |
Return on Equity has increased versus last 3 years average to 5.50%
Sales growth is growing at healthy rate in last 3 years 185.76%
Net Profit is growing at healthy rate in last 3 years 39.66%
Sales growth is good in last 4 quarters at 67.94%
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| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 2.4 | 4.9 |
| TTM Sales (₹ Cr.) | 51.6 | 298 |
| BVPS (₹.) ⓘ | 44.8 | 50.3 |
| Reserves (₹ Cr.) ⓘ | 316 | 366 |
| P/BV ⓘ | 4.66 | 4.15 |
| PE ⓘ | 86.70 | 43.03 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 198.10 / 423.00 |
| All Time Low / High (₹) | 198.10 / 423.00 |
| Market Cap (₹ Cr.) | 1,896 |
| Equity (₹ Cr.) | 90.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 36.9 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 2 | 10 | 21 | 40 |
| Operating Expenses ⓘ | 2 | 19 | 11 | 29 |
| Manufacturing Costs | 2 | 6 | 4 | 5 |
| Material Costs | 0 | 2 | 4 | 19 |
| Employee Cost | 0 | 0 | 1 | 3 |
| Other Costs ⓘ | 0 | 10 | 1 | 2 |
| Operating Profit ⓘ | 0 | -9 | 10 | 11 |
| Operating Profit Margin (%) | -11.1% | -83.0% | 47.2% | 26.8% |
| Other Income ⓘ | 2 | 0 | 0 | 3 |
| Interest ⓘ | 1 | 1 | 6 | 3 |
| Depreciation ⓘ | 0 | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | -3 | 0 |
| Profit Before Tax ⓘ | 1 | -9 | 2 | 11 |
| Tax ⓘ | 0 | -3 | 1 | 3 |
| Profit After Tax | 1 | -7 | 1 | 7 |
| PAT Margin (%) | 50.4% | -63.3% | 5.0% | 18.3% |
| Adjusted EPS (₹) | 0.3 | -2.2 | 0.2 | 0.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 14 | 8 | 92 | 392 | ||||||
| Share Capital ⓘ | 0 | 0 | 67 | 91 | ||||||
| Reserves ⓘ | 14 | 8 | 26 | 302 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 11 | 7 | 35 | 31 | ||||||
| Long Term Debt | 11 | 7 | 35 | 31 | ||||||
| Short Term Debt | 0 | 0 | 0 | 0 | ||||||
| Trade Payables | 0 | 0 | 0 | 0 | ||||||
| Others Liabilities ⓘ | 7 | 2 | 10 | 18 | ||||||
| Total Liabilities ⓘ | 32 | 17 | 137 | 442 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 0 | 0 | 0 | 1 | ||||||
| Accumulated Depreciation | 0 | 0 | 0 | 0 | ||||||
| Net Fixed Assetsⓘ | 0 | 0 | 0 | 1 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | ||||||
| Investmentsⓘ | 13 | 13 | 131 | 131 | ||||||
| Inventories | 0 | 0 | 0 | 0 | ||||||
| Trade Receivables | 17 | 0 | 2 | 4 | ||||||
| Cash Equivalents | 0 | 1 | 1 | 203 | ||||||
| Others Assetsⓘ | 2 | 4 | 3 | 102 | ||||||
| Total Assets ⓘ | 32 | 17 | 137 | 442 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 2 | 9 | 12 | 4 |
| PBT ⓘ | 1 | -9 | 2 | 11 |
| Adjustment ⓘ | 1 | 1 | 5 | 0 |
| Changes in Working Capital ⓘ | 0 | 18 | 6 | -5 |
| Tax Paid ⓘ | 0 | 0 | -1 | -2 |
| Cash Flow From Investing Activity ⓘ | 0 | 0 | -118 | -287 |
| Capex | 0 | 0 | 0 | 0 |
| Net Investments | 0 | 0 | 0 | -288 |
| Others ⓘ | 0 | 0 | -118 | 0 |
| Cash Flow From Financing Activityⓘ | -1 | -9 | 107 | 288 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 84 | 323 |
| Net Proceeds from Borrowing ⓘ | 0 | 7 | 28 | -4 |
| Interest Paid ⓘ | 0 | -5 | -4 | -1 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | -1 | -11 | 0 | -30 |
| Net Cash Flow ⓘ | 0 | 0 | 1 | 5 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 6.07 | -60.04 | 2.06 | 2.99 | ||||||
| ROCE (%) | 7.36 | -42.33 | 10.11 | 5.03 | ||||||
| Asset Turnover Ratio | 0.05 | 0.42 | 0.27 | 0.14 | ||||||
| PAT to CFO Conversion(x) | 2 | N/A | 12 | 0.57 | Working Capital Days | |||||
| Receivable Days | 3,618 | 0 | 31 | 26 | ||||||
| Inventory Days | 0 | 0 | 0 | 0 | ||||||
| Payable Days | 0 | 0 | 0 | 0 | ||||||
BLS E-Services Limited was incorporated as ‘BLS E-Services Private Limited’, as a private limited company under the provisions of the Companies Act, 2013, pursuant to a certificate of incorporation dated April 12, 2016, issued by the Deputy Registrar of Companies, Central Registration Centre. Thereafter, the company was converted from a private limited company to a public limited company, pursuant to the resolution passed at the meeting of the Board of Directors held on December 23, 2022, and a special resolution of the Shareholders at the Extra-ordinary General Meeting held on December 29, 2022, and consequently the name of the company was changed to ‘BLS E-Services Limited’, and a fresh certificate of incorporation dated April 10, 2023 was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana to the Company.
The company is a technology enabled digital service provider, providing (i) Business Correspondents services to major banks in India, (ii) Assisted E-services; and (iii) E-Governance Services at grass root levels in India. Through its robust network, the company provides access points for delivery of essential public utility services, social welfare schemes, healthcare, financial, educational, agricultural and banking services for governments (G2C) and businesses (B2B) alike in addition to a host of B2C services to citizens in urban, semi-urban, rural and remote areas. The company’s merchants act as its interface with the consumers and play a critical role in delivery of goods and services on the ground. Presently, the company’s merchants are organised in two categories i.e. BLS Touchpoints and BLS Stores. All merchants registered with it is treated as BLS Touchpoints and they have access to offer multiple services being extended by the company. BLS Stores are BLS branded stores which offer its entire suite of offerings to the consumers including availability of select goods on a sample basis supplied by e-commerce players which can be ordered and procured by its consumers after having a touch and feel experience of such goods.
Through its tech-enabled integrated business model, the company provides digital and physical products and services in the G2C, B2C, B2B categories in semi-urban, rural and remote areas where penetration of internet is low and citizens need assistance in availing basic technology enabled services. The company organizes its business along three primary business segments, (i) Business Correspondents Services; (ii) Assisted E-services; and (iii) E-Governance Services. A key stakeholder in each of its business segments are merchants, with whom it collaborates for delivery of its products and services to the citizens.
Business area of the company
The company is a technology enabled digital service provider, providing (i) Business Correspondents services to major banks in India, (ii) Assisted E-services; and (iii) E-Governance Services at grass root levels in India.
Awards, accolades and certifications
History and milestones
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