BLS · Consumer Services
BLS International Services Ltd. reported revenue of ₹815 cr for January to March 2026, +17.6% on the year and +10.7% on the quarter. It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹2,999 cr, +36.7% on the four before.
Operating profit (EBITDA) was ₹204 cr, a margin of 25.0%, −8 bps on the year and −187 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 25.0% to 33.1%). Operating costs grew +17.7%, broadly with revenue, so operating profit kept pace with sales.
Net profit was ₹187 cr, +29.0% on the year and +10.0% on the quarter, with earnings per share of ₹4.32. Profit before other income, one-offs and tax grew 22.5%, so 6 points of the headline growth came from outside the core business. The tax rate of 8% is in line with its recent average. Profit over the last four quarters totals ₹724 cr, +34.0% on the four before.
On earnings per share of ₹16.68 over the last four quarters, the stock at ₹226.84 trades at 13.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹438 cr | ₹448 cr | ₹493 cr | ₹495 cr | ₹513 cr | ₹693 cr | ₹711 cr | ₹737 cr | ₹736 cr | ₹815 cr | ₹891 cr | ₹973 cr |
| YoY | — | — | +29% | +21% | +17% | +55% | +44% | +49% | +43% | +18% | +25% | +32% |
| EBITDA margin | 20.3% | 20.1% | 27.0% | 33.1% | 30.8% | 25.1% | 28.7% | 28.9% | 26.9% | 25.0% | 28.3% | 25.5% |
| Other income, % of PBT | 10% | 16% | 13% | 14% | 11% | 15% | 13% | 9% | 11% | 15% | 10% | 10% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 4% | 9% | 10% | 11% | 9% | 13% | 10% | 8% | 11% | 8% | 14% | 9% |
| Net profit | ₹87.0 cr | ₹85.0 cr | ₹121 cr | ₹146 cr | ₹128 cr | ₹145 cr | ₹181 cr | ₹186 cr | ₹170 cr | ₹187 cr | ₹202 cr | ₹202 cr |
| YoY | — | — | +70% | +78% | +47% | +71% | +50% | +27% | +33% | +29% | +11% | +9% |
| Core profit YoY | — | — | +60% | +81% | +52% | +82% | +50% | +31% | +36% | +23% | +22% | +9% |
| EPS | ₹2.05 | ₹1.96 | ₹2.77 | ₹3.36 | ₹2.93 | ₹3.28 | ₹4.15 | ₹4.26 | ₹3.95 | ₹4.32 | ₹4.62 | ₹4.52 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | 1 | ✓ | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
BLS International Services Ltd. reported revenue of ₹815 cr (+17.6% on the year) and net profit of ₹187 cr (+29.0% on the year) for January to March 2026.
Profit before other income, exceptional items and tax moved +22.5% on the year, against +29.0% for reported profit.
None of the 7 checks that could run raised a question.
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