Is BLS E-Services Ltd (BLSE) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that BLS E-Services Ltd is a below average quality company .

Is BLS E-Services Ltd (BLSE) undervalued or overvalued?

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 .

What is BLS E-Services Ltd (BLSE) share price return in the past 10 years?

Data is not available for this company

Is BLS E-Services Ltd (BLSE) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of BLS E-Services Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of BLS E-Services Ltd (BLSE)?

Company share prices are keep on changing according to the market conditions. The current trading price of BLS E-Services Ltd (BLSE) on 17-Apr-2026 16:59:59 at 16:59 is 174.95.

What is the P/E ratio of BLS E-Services?

The latest standalone P/E ratio of BLS E-Services as of 17-Apr-2026 is 106.08.

What is the P/B ratio of BLS E-Services Ltd (BLSE)?

The latest standalone P/B ratio of BLS E-Services Ltd (BLSE) as of 17-Apr-2026 is 3.78.

What is the 52-week high and low of BLS E-Services Ltd (BLSE)?

The 52-week high of BLS E-Services Ltd (BLSE) is Rs. 232.70 and the 52-week low is Rs. 124.25.

BLS E-Services Ltd (BLSE) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: BLS E-Services Ltd (BLSE)
Brand: BLS E-Services

BLS E-Services Ltd (BLSE) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

BLS E-Services Ltd (BLSE)

BSE: 544107 NSE: BLSE

Key Metrics

Market Cap

₹1,600 Cr.

P/E Ratio

106.08

Price to Book (P/B)

3.78

Price to Sales (P/S)

20.79

EV/EBITDA

66.80

Return on Capital Employed (ROCE)

9.22%

Current Price

₹175

Return on Equity (ROE)

6.77%

Return on Assets (ROA)

6.16%

Operating Profit Margin

30.9%

Net Profit Margin

41.07%

Gross Profit Margin

55.9%

Book Value per Share

₹46.6

Sales Growth (YoY)

68.46%

Sales Growth (3 Years)

86.45%

Operating Profit Growth (1 Year)

94.36%

Operating Profit Growth (3 Years)

N/A%

Net Profit Growth (1 Year)

278.48%

52-Week Low / High

₹124 / 233

Net Profit Growth (3 Years)

N/A%

Dividend Yield

0.67%

Promoter Holding

68.89%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of BLS E-Services Ltd?

BLS E-Services Ltd revenue growth is 68.5% for FY-2025 , which is above its 5 year CAGR of 0% , indicating faster growth.

Q.1 Promoter shareholding and pledge status of BLS E-Services Ltd?

Promoters hold 68.89% of the BLS E-Services Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of BLS E-Services Ltd vs industry peers?

BLS E-Services Ltd revenue CAGR is 0.00% , compared to the industry median CAGR of 0% , indicating stable growth and maintaining its market share.

Q.1 Which industry/sub-sector does BLS E-Services Ltd belong to?

BLS E-Services Ltd belongs to the Miscellaneous sector, operating specifically within the Professional Services segment.

Q.1 Stock return of BLS E-Services Ltd over the last decade?

Over the last 1 year(s), the stock has delivered a CAGR of 17.57% based on the current price.

DeciZen - make an informed investing decision on BLS E-Services

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation

3. Price Trend

BLS E-Services stock performance

Key Ratios

Is BLS E-Services Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	7.4%	-42.3%	10.1%	5%	9.2%	-
Value Creation Index ⓘ	-0.5	-4.0	-0.3	-0.6	-0.3	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1.7	10.3	20.5	39.7	66.8	77
Sales YoY Gr.	-	506.5%	99.1%	93.2%	68.5%	-
Adj EPS ⓘ	0.3	-2.2	0.4	0.8	3	1.7
YoY Gr.	-	-848.3%	NA	88.1%	281%	-
BVPS (₹) ⓘ	4.7	2.5	13.8	43.2	46.1	46.6
Adj Net Profit ⓘ	0.9	-6.5	2.8	7.2	27.4	15
Cash Flow from Ops. ⓘ	1.9	8.9	12.2	4	9.3	-
Debt/CF from Ops. ⓘ	5.9	0.8	2.9	7.9	0.4	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	NA	NA	86.5%	68.5%
Adj EPS ⓘ	NA	NA	NA	281%
BVPSⓘ	NA	NA	163.2%	6.8%
Share Price	-	-	-	17.6%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	6.1	-60	5.7	3	6.8	3.6
Op. Profit Mgn % ⓘ	-11.1	-83	47.2	26.8	30.9	9.9
Net Profit Mgn % ⓘ	50.4	-63.3	13.8	18.2	41	19.6
Debt to Equity ⓘ	0.8	1	0.4	0.1	0	-
Working Cap Days ⓘ	0	412	80	512	859	233
Cash Conv. Cycle ⓘ	0	298	15	26	49	164

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	1.7	6.2
TTM Sales (₹ Cr.)	77	1,034
BVPS (₹) ⓘ	46.6	57.2
Reserves (₹ Cr.) ⓘ	333	429
P/BV ⓘ	3.78	3.08
PE ⓘ	106.08	28.60

From the Market
52 Week Low / High (₹)	124.25 / 232.70
All Time Low / High (₹)	124.25 / 423.00
Market Cap (₹ Cr.)	1,600
Equity (₹ Cr.)	90.9
Face Value (₹)	10
Industry PE ⓘ	56.2

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of BLS E-Services - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	2	10	21	40	67
Operating Expenses ⓘ +	2	19	11	29	46
Manufacturing Costs	2	6	4	5	14
Material Costs	0	2	4	19	19
Employee Cost	0	0	1	3	8
Other Costs ⓘ	0	10	1	2	6
Operating Profit ⓘ	-0	-9	10	11	21
Operating Profit Margin (%)	-11.1%	-83.0%	47.2%	26.8%	30.9%
Other Income ⓘ +	2	0	0	3	19
Exceptional Items ⓘ	0	0	-3	0	0
Interest ⓘ	1	1	6	3	2
Depreciation ⓘ	0	0	0	0	1
Profit Before Tax ⓘ	1	-9	2	11	37
Tax ⓘ	-0	-3	1	3	9
Profit After Tax	1	-7	1	7	27
PAT Margin (%)	50.4%	-63.3%	5.0%	18.3%	41.1%
Adjusted EPS (₹)	0.3	-2.2	0.2	0.8	3.0
Dividend Payout Ratio (%)	0%	0%	0%	0%	33%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	14	8	92	392	419
Share Capital ⓘ	0	0	67	91	91
Reserves ⓘ	14	8	26	302	328
Debt +	11	7	35	31	3
Long Term Debt	11	7	35	31	3
Short Term Debt	0	0	0	0	0
Minority Interest	0	0	0	0	0
Trade Payables	0	0	0	0	0
Others Liabilities ⓘ	7	2	10	18	28
Total Liabilities ⓘ	32	17	137	442	450
Fixed Assets
Net Fixed Assets ⓘ +	0	0	0	1	1
Gross Block	0	0	0	1	2
Accumulated Depreciation	0	0	0	0	1
CWIP ⓘ	0	0	0	0	11
Investments ⓘ	13	13	131	131	221
Inventories	0	0	0	0	0
Trade Receivables	17	0	2	4	14
Cash Equivalents	0	1	1	203	9
Others Assets ⓘ	2	4	3	102	194
Total Assets ⓘ	32	17	137	442	450

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	2	9	12	4	9
PBT ⓘ	1	-9	2	11	37
Adjustment ⓘ	1	1	5	0	-16
Changes in Working Capital ⓘ	0	18	6	-5	-2
Tax Paid ⓘ	-0	-0	-1	-2	-10
Cash Flow From Investing Activity ⓘ +	-0	-0	-118	-287	26
Capex	0	0	-0	-0	-11
Net Investments	0	0	-0	-288	95
Others ⓘ	-0	-0	-118	0	-58
Cash Flow From Financing Activity ⓘ +	-1	-9	107	288	-33
Net Proceeds from Shares ⓘ	0	0	84	323	0
Net Proceeds from Borrowing ⓘ	0	7	28	-4	-28
Interest Paid ⓘ	-0	-5	-4	-1	-5
Dividend Paid ⓘ	0	0	0	0	0
Others ⓘ	-1	-11	-0	-30	-1
Net Cash Flow ⓘ	0	0	1	5	2

Finance Ratio

PARTICULARS	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	6.07	-60.04	2.06	2.99	6.77
ROCE (%)	7.36	-42.33	10.11	5.03	9.22
Asset Turnover Ratio	0.05	0.42	0.27	0.14	0.15
PAT to CFO Conversion(x)	2	N/A	12	0.57	0.33
Working Capital Days
Receivable Days	3,618	0	31	26	49
Inventory Days	0	0	0	0	0
Payable Days	0	0	0	0	0

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Announcements

BLS E-Services Ltd FAQs

The current trading price of BLS E-Services on 17-Apr-2026 16:59 is ₹174.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 16-Apr-2026 the market cap of BLS E-Services stood at ₹1,600 Cr

The latest P/E ratio of BLS E-Services as of 16-Apr-2026 is 106.1.

The latest P/B ratio of BLS E-Services as of 16-Apr-2026 is 3.78.

The 52-week high of BLS E-Services is ₹232.7 and the 52-week low is ₹124.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of BLS E-Services is ₹76.98 ( Cr.) .

About BLS E-Services Ltd

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

Awards, accolades and certifications

2019: Financial Inclusion excellence award under the category- campaign PMJJBY and PMSBY for period March 2019 to April 2019 awarded to its Subsidiary, ZMPL by SBI.
2018: Champions of rural market award for contribution in fostering rural market awarded to its Subsidiary, ZMPL by the Economic times.
2020: Best performing BC award for the financial year 2019-2020 awarded to its Subsidiary, ZMPL by PFRDA.
2020: Certificate of appreciation award for performance under APY from July 2020 to November 2020 awarded to its Subsidiary, ZMPL by SBI.
2020: Winner under ‘SSS ka Champion’ Campaign for September 2020 awarded to its Subsidiary, ZMPL by SBI.
2022: Certificate of excellence for outstanding performance in ‘Increase in passbook printing (average)’ during H1 2021-2022, awarded to its Subsidiary, ZMPL by SBI.

History and milestones

2016: Incorporation of BLS-E Services Private Limited as a private limited company.
2018: Acquisition of Starfin India Private Limited.
2022: Acquisition of Zero Mass Private Limited.
2022: Acquisition of shareholding in BLS Kendras Private Limited by way of equity swap.
2022: Conversion of the Company from private limited company to public limited company.

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
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BLS E-Services Ltd (BLSE) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

BLS E-Services Share Price