BLS International Services Limited , a global tech-enabled services partner for governments and citizens, has announced significant developments in its recent Board meeting held on November 11, 2025. The company reported robust financial results for Q2 and H1 FY26, made a key leadership appointment, approved an employee stock option grant, and decided to close a non-performing subsidiary.

Financial Highlights

BLS International delivered strong financial performance for Q2 FY26:

The company's performance was driven by steady growth across its Visa & Consular and Digital Services businesses. The consolidation of recently acquired entities, Citizenship Invest and Aadifidelis Solutions, also contributed to the revenue growth.

For H1 FY26, BLS International reported:

• Revenue from Operations: Rs. 1,447.20 Crores (46.5% YoY growth)
• EBITDA: Rs. 417.00 Crores (40.3% YoY growth)
• PAT: Rs. 366.70 Crores (37.6% YoY growth)

The company's balance sheet strengthened with a net cash balance of Rs. 1,306.00 Crores as of September 30, 2025, compared to Rs. 928.00 Crores as of March 31, 2025.

Segment Performance

Visa & Consular Business

• Revenue grew by 9.8% YoY to Rs. 458.60 Crores in Q2 FY26
• EBITDA increased by 26.4% YoY to Rs. 192.20 Crores
• EBITDA margin improved to 41.9% from 36.4% in Q2 FY25
• Visa applications increased by 11.7% to 11.30 lakh

Digital Business

• Revenue surged by 259.3% YoY to Rs. 278.00 Crores in Q2 FY26
• EBITDA grew by 72.4% YoY
• Business Correspondent segment witnessed Gross Transaction Value of over Rs. 27,300.00 Crores
• Facilitated loan distribution worth Rs. 8,600.00 Crores for financial institutions

Key Appointment

The Board approved the appointment of Mr. Ajit Hugh Dias as Chief Human Resource Officer (CHRO) under the category of Senior Management Personnel, effective November 11, 2025. Mr. Dias brings extensive experience from his 22-year tenure with the Taj Group of hotels (IHCL), where he was instrumental in developing and executing various HR, L&D, and culture-building initiatives.

Employee Stock Option Grant

BLS International's Nomination and Remuneration Committee approved the grant of 78,000 employee stock options to eligible employees under the BLS International Employees Stock Option Scheme-2023. The key details of the grant include:

• Options are convertible into an equal number of equity shares with a face value of Re. 1 each
• Priced at Rs. 315.45 per stock option based on the closing price on NSE
• Options will vest equally over a 3-year period subject to eligibility criteria
• Vested options can be exercised within one year from the date of last vesting
• If all options are exercised, 78,000 equity shares will be issued

Subsidiary Strike-off

The Board has approved the closure and strike-off of Reired BLS International Services Private Limited, a wholly-owned subsidiary. This decision comes as the subsidiary, originally incorporated for a specific project that did not materialize, contributed minimal value to the company's operations:

• Turnover for FY 2024-25: Rs. 2.00 lakhs (0.0009% of total turnover)
• Net Worth for FY 2024-25: Rs. 30,467 (0.0002% of total net worth)

The dissolution and strike-off process is expected to be completed within 6 months, by March 31, 2026, subject to regulatory approvals.

These developments underscore BLS International's focus on operational efficiency, strategic growth, and organizational strengthening as it continues to expand its global footprint in tech-enabled government and citizen services.

BLS International Services Limited , a leading tech-enabled services partner for governments and citizens, has unveiled growth plans targeting an 18-20% compound annual growth rate (CAGR) through new government e-governance and visa projects. The company projects FY26 revenue of ₹1,380 crores, representing a 14% year-on-year growth.

Expanding Global Presence

BLS International is set to expand its global footprint to over 60 countries with 18,000 service centers. This expansion is supported by several key developments:

1. A three-year contract from the Ministry of External Affairs, Government of India, to establish and operate Indian Visa Application Centres across China.
2. Winning Cyprus visa processing operations in Kazakhstan, strengthening its presence in Central Asia.
3. Expanding operations in Latin America with a new Visa Application Centre in Argentina, relocating to a larger facility in Ecuador, and transitioning to a self-managed model in Bolivia.

Technological Advancements

The company plans to launch AI-based verification and citizen services platforms, focusing on margin expansion through high-tech public service contracts. This aligns with their strategy of leveraging advanced technologies to reinforce brand equity, elevate competitive edge, and drive scalable growth across markets.

Major Contract Wins

BLS International has secured significant contracts that underscore its growth trajectory:

1. A contract from the Unique Identification Authority of India (UIDAI) worth ₹2,055.35 crores to establish and operate District-Level Aadhaar Seva Kendras over six years.
2. The contract from the Ministry of External Affairs, Government of India, to establish and operate Indian Visa Application Centres across China.

Financial Performance

The company's financial results reflect its growth momentum:

The company's balance sheet has strengthened with a net cash balance of ₹1,306 crores as of September 30, 2025, compared to ₹928 crores as of March 31, 2025.

Strategic Acquisition

BLS International acquired 100% shareholding in Trefeddian Hotel (Aberdovey) Limited in the United Kingdom for ₹78.3 crores, marking its strategic entry into the hospitality sector.

Leadership Perspective

Shikhar Aggarwal, Joint Managing Director of BLS International Services Ltd., commented on the company's performance: "Q2FY26 was a period of meaningful progress for BLS International, marked by strategic wins, expanding partnerships, and continued growth across our core businesses. Our focus on technology-led service delivery and operational excellence continues to drive our performance and reinforce our leadership in the global government and citizen services domain."

Future Outlook

With its expanding global operations, disciplined execution, new contract wins, and enhanced efficiencies driving margin expansion, BLS International appears to be on a growth trajectory. The company's performance and diversified portfolio continue to underpin its financial outcomes, setting a foundation for future growth.

As BLS International continues to harness advanced technologies and expand its global footprint, it is positioned to capitalize on the demand for outsourced visa and e-governance services worldwide.