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BLS International Services Ltd.

BSE: 540073 Sector: IT
NSE: BLS ISIN Code: INE153T01027
BSE 16:00 | 03 Dec 193.00 -1.75
(-0.90%)
OPEN

194.20

HIGH

201.60

LOW

191.05

NSE 15:56 | 03 Dec 192.15 -3.00
(-1.54%)
OPEN

197.60

HIGH

197.60

LOW

191.00

OPEN 194.20
PREVIOUS CLOSE 194.75
VOLUME 5435
52-Week high 309.25
52-Week low 75.30
P/E 386.00
Mkt Cap.(Rs cr) 1,978
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 194.20
CLOSE 194.75
VOLUME 5435
52-Week high 309.25
52-Week low 75.30
P/E 386.00
Mkt Cap.(Rs cr) 1,978
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

BLS International Services Ltd. (BLS) - Chairman Speech

Company chairman speech

Dear Shareholders

The year 20-21 will remain etched in human memory for the challenges it posed. As theCovid-19 outbreak wreaked havoc lives as well as livelihoods continued to be severelyaffected. Economic activity slumped and businesses across the globe struggled to stayafloat.

Despite the hurdles posed by the pandemic our perseverance and adaptability allowed usto sustain healthy performances during the year. We believe "Tough times don't lastbut tough people do". Therefore we are focused on our strategic priorities tocapitalise on opportunities and adopt new realities to thrive and excel in a rapidlychanging world. It gives me great pleasure to share that we have been recognised amongForbes Asia's list of ‘Best Under a Billion Company' and have been featured amongFortune India's Next 500 companies.

Our inherent capacity to deliver excellence and the determination to offer superiorservices enables us to create a distinct identity in the industry. Resting on our robustbusiness model agile and innovative solutions we have emerged as a prominent partner forgovernments and citizens all over the world.

Travel restrictions on account of the Covid-19 pandemic affected our business duringthe first few months of the year. However business recovered in the latter half of theyear when lockdowns around the world continued to be lifted in phases. Amidst challengesBLS managed to generate positive EBITDA and introduced new methods to seamlessly executeprojects for a global clientele.

Financial performance

The company's performance in FY20-21 reflected the strength of its agile business modeland its ability to

*EBITDA is excluding other income.

relentlessly exceed expectations with superior quality services. Our revenue fromoperations stood at H 478 crore as compared to H 786 crore in the previous year. Werecorded EBITDA* of H 40 crore and PAT of H 50 crore. We have also successfully generatedpositive cashflows throughout the year.

We have streamlined our operational expenses to minimise the adverse impacts on ourfinancial performance. BLS International remains a debt-free Company while maintaining astrong liquidity. Furthermore our asset-light business model and systematic approach toimprove revenues from diversified verticals enabled us to optimise costs and auguredefficient capital utilisation.

Strategic Focus

With rapid transformations in the world of business strategic endeavours have become anecessity to drive sustained growth. At BLS we are consistently shoring up our capacitiesto emerge as a tech-enabled service provider. We have successfully grown the Government toCitizen Services vertical over the last year and our growing dependence on advancedtechnology and sophisticated methods have augured well for all our key business verticals.

This year we delivered around 300 government to citizen services in Punjab including‘Sanjh' which was specially developed to cater to the needs of Punjab police.Moreover other services like attestation of documents for people travelling abroad haveresulted in a considerable improvement of our topline and bottom-line revenues. Apart fromthese primary services we also undertook a project for delivering insurance tounderprivileged people under the government's Ayushman Bharat scheme.

In a major achievement this year we won a contract for delivering citizen services inthe state of Uttar Pradesh. Backed by our dynamic business prospects we have introducedas many as 10000 franchises during the year and collaborated with the state government tocater to various customer needs.

The National Correspondent Business- Starfin has also added numerous franchisees todevelop a last-mile banking network for delivering financial services to the unserved andunderserved population of India. Due to our efficiency in this sector we were recognisedas Covid Warriors. All the SBI branches in our network remained operational during thepandemic and we played an instrumental role in facilitating direct transfers worth H 350crore on a monthly basis.

With operational efficiency in the Six-Sigma range we continue to record a significantincrease in the volume of transactions and foresee significant opportunities for growth.While we continued to strengthen our citizen service and Starfin business verticals a lotof value-added services like mobile biometric service and primetime submission helped usto buffer the impact of the pandemic on our operations. It also enabled us to scale ourprocesses to meet emerging needs. Besides Covid testing services were also introducedwithin our network.

Looking Ahead

Our integrated service portfolio exceptional capabilities and a zeal to deliverworld-class services to clients empowers us to substantially broaden our scope ofoperations. From improving our existing capacities to exploring new territories we areoptimistic about making inroads in the tech-enabled government to citizen servicessegment. With sufficient work orders in our pipeline both in the domestic andinternational market BLS is looking forward to capitalise on emerging opportunities andgrow its presence in untapped areas.

Thanks and regards
Nikhil Gupta
Managing Director

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