BLS International Services (BLS) Q4 25/26 earnings summary

Executive summary

• Achieved record FY 2026 performance with consolidated revenue of INR 2,998 crores, EBITDA of INR 819 crores (27.3% margin), and PAT of INR 724 crores, reflecting 37% revenue growth and 34% PAT growth year-over-year.

• Q4 FY 2026 revenue reached INR 815 crores, up 18% year-over-year, with EBITDA of INR 204 crores and PAT of INR 187 crores.

• Growth driven by higher application volumes, contract wins, service diversification, and increased net revenue per application in the visa business.

• Board recommended a final dividend of INR 0.5 per share, with total payout over INR 100 crores for the year.

• Board approved audited results and made key leadership appointments to support global expansion.

Financial highlights

• FY 2026 revenue rose to INR 2,998 crores from INR 2,193 crores, up 37% year-over-year; EBITDA increased to INR 819 crores (27.3% margin); PAT was INR 724 crores, up 34%.

• Digital business revenue surged 114.4% to INR 1,158 crores in FY 2026.

• Net cash balance as of March 31, 2026: INR 1,434 crores.

• Operating cash flow for FY 2026 was INR 903 crores, supporting a healthy balance sheet.

• Consolidated basic EPS for FY 2026: INR 16.68, up from INR 12.34 year-over-year.

Outlook and guidance

• Targeting 20%-25% revenue growth for FY 2027 on an increased base.

• Focus on aggressive bidding for new tenders, expanding service offerings, and geographic expansion.

• Management expects to maintain current EBITDA margins, with digital business margins expected to improve as scale increases.

• Ongoing tender pipeline and M&A opportunities provide strong future visibility.

• Surplus funds and strong liquidity position support ongoing operations and future growth.