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Last Updated: April 2, 2026, 4:15 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 544107 | NSE: BLSE

BLS E-Services Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹129.72Overvalued by 20.42%vs CMP ₹163.00

P/E (26.4) × ROE (11.0%) × BV (₹55.50) × DY (0.61%)

₹116.32Overvalued by 28.64%vs CMP ₹163.00
MoS: -40.1% (Negative)Confidence: 53/100 (Moderate)Models: 2 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹157.5723%Fair (-3.3%)
Graham NumberEarnings₹87.7117%Over (-46.2%)
Earnings PowerEarnings₹32.1211%Over (-80.3%)
DCFCash Flow₹182.9711%Under (+12.3%)
Net Asset ValueAssets₹55.627%Over (-65.9%)
EV/EBITDAEnterprise₹71.929%Over (-55.9%)
Earnings YieldEarnings₹61.607%Over (-62.2%)
ROCE CapitalReturns₹257.989%Under (+58.3%)
Revenue MultipleRevenue₹57.166%Over (-64.9%)
Consensus (9 models)₹116.32100%Overvalued
Key Drivers: Wide model spread (₹32–₹258) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 21.5%

*Investments are subject to market risks

Investment Snapshot

67
BLS E-Services Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health56/100 · Moderate
ROCE 15.8% GoodROE 11.0% AverageD/E 7.83 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.58% (6mo) Slight increasePromoter holding at 68.9% Stable
Earnings Quality75/100 · Strong
OPM expanding (11% → 13%) ImprovingWorking capital: -31 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +192% YoY AcceleratingProfit (4Q): +28% YoY StrongOPM: 6.0% (down 6.0% YoY) Margin pressure
Industry Rank60/100 · Moderate
P/E 26.4 vs industry 23.7 In-lineROCE 15.8% vs industry 19.3% Average3Y sales CAGR: 75% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

BLS E-Services Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
20/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 26.4 vs Ind 23.7 | ROCE 15.8% | ROE 11.0% | CFO/NP N/A
Balance Sheet Stress
50/100
Manageable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 7.83x | IntCov 0.0x | Current 0.67x | Borrow/Reserve 0.02x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹59 Cr | CFO/NP N/A
Ownership Accumulation
+50
Accumulation
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.78 pp | DII +0.11 pp | Prom 0.00 pp
Business Momentum
-20
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +4.1% | Q NP -16.7% | Q OPM -1.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-28.6%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.02xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.78 ppLatest FII% minus previous FII%
DII Change+0.11 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-8,102Latest shareholder count minus previous count
Quarterly Sales Change+4.1%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-16.7%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-1.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:15 am

Market Cap 1,480 Cr.
Current Price 163
Intrinsic Value₹116.32
High / Low 233/124
Stock P/E26.4
Book Value 55.5
Dividend Yield0.61 %
ROCE15.8 %
ROE11.0 %
Face Value 10.0
PEG Ratio1.23

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for BLS E-Services Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
BLS E-Services Ltd 1,480 Cr. 163 233/12426.4 55.50.61 %15.8 %11.0 % 10.0
Allsec Technologies Ltd 1,609 Cr. 1,0531,252/57924.2 1614.28 %30.5 %26.0 % 10.0
Hinduja Global Solutions Ltd 1,710 Cr. 368 629/342 1,7120.00 %3.01 %1.60 % 10.0
Aurum Proptech Ltd 1,193 Cr. 166 227/144 67.80.00 %2.83 %14.6 % 5.00
One Point One Solutions Ltd 1,158 Cr. 44.0 70.0/40.630.8 16.20.00 %13.0 %10.2 % 2.00
Industry Average5,854.87 Cr451.9723.74177.460.54%19.34%20.92%7.41

All Competitor Stocks of BLS E-Services Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 6973758172747577128239244270281
Expenses 6061676961636464112220226250264
Operating Profit 912912101112141619182017
OPM % 13%17%11%15%14%15%16%18%12%8%7%7%6%
Other Income -242311157756766
Interest 1000000000000
Depreciation 0111111122122
Profit before tax -1634912111417191923232521
Tax % -26%25%35%25%24%24%27%23%27%26%25%26%27%
Net Profit -12256981113151417181815
EPS in Rs -1.883.730.771.271.121.131.321.581.441.451.621.701.39

Last Updated: March 3, 2026, 11:42 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 1:46 am

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 64972433015191,034
Expenses 6090210260459960
Operating Profit 5733426074
OPM % 7%7%14%14%12%7%
Other Income 12182625
Interest 214111
Depreciation 013366
Profit before tax 4727467992
Tax % 20%21%25%27%26%
Net Profit 3520345968
EPS in Rs 3,150.005,380.002.833.465.786.16
Dividend Payout % 0%0%0%0%17%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)66.67%300.00%70.00%73.53%
Change in YoY Net Profit Growth (%)0.00%233.33%-230.00%3.53%

BLS E-Services Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 4 years from 2021-2022 to 2024-2025.

Growth

Last Updated: September 5, 2025, 2:41 pm

Balance Sheet

Last Updated: February 1, 2026, 2:29 am

MonthMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.010.0167919191
Reserves 101540340392414
Borrowings 11155777
Other Liabilities 20266771183205
Total Liabilities 4156179510672717
Fixed Assets 8158893148179
CWIP 00001112
Investments 00015110130
Other Assets 324192402404397
Total Assets 4156179510672717

Reserves and Borrowings Chart

Cash Flow

MonthMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 920292067
Cash from Investing Activity + -1-14-66-295-23
Cash from Financing Activity + -5-846290-4
Net Cash Flow 3-1101540
Free Cash Flow 912281554
CFO/OP 195%315%99%72%120%

Free Cash Flow

MonthMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-6.00-8.0028.0035.0053.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 5032273066
Inventory Days 236
Days Payable 46683
Cash Conversion Cycle 5032278-611
Working Capital Days -110-55-58-29-31
ROCE %31%45%17%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 68.89%68.89%68.89%68.89%68.89%68.89%68.89%68.89%
FIIs 9.27%5.69%1.42%0.78%0.41%0.25%0.21%0.99%
DIIs 0.01%0.01%0.01%0.01%0.02%0.00%0.00%0.11%
Public 21.83%25.40%29.68%30.31%30.67%30.85%30.90%29.77%
Others 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.22%
No. of Shareholders 73,19075,00187,91291,93993,86190,44286,68978,587

Shareholding Pattern Chart

No. of Shareholders

BLS E-Services Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 5.794.443.020.890.52
Diluted EPS (Rs.) 5.794.443.020.890.52
Cash EPS (Rs.) 7.164.063.466199.703221.50
Book Value[Excl.RevalReserv]/Share (Rs.) 53.1347.4516.036793.901406.00
Book Value[Incl.RevalReserv]/Share (Rs.) 53.1347.4516.036793.901406.00
Revenue From Operations / Share (Rs.) 57.1633.1836.4396698.2064487.20
PBDIT / Share (Rs.) 9.485.505.448620.705472.80
PBIT / Share (Rs.) 8.795.125.027800.605399.50
PBT / Share (Rs.) 8.715.034.046777.403922.20
Net Profit / Share (Rs.) 6.473.693.055379.603148.20
NP After MI And SOA / Share (Rs.) 5.793.463.055379.603148.20
PBDIT Margin (%) 16.5816.5614.938.918.48
PBIT Margin (%) 15.3815.4413.788.068.37
PBT Margin (%) 15.2315.1611.097.006.08
Net Profit Margin (%) 11.3211.128.365.564.88
NP After MI And SOA Margin (%) 10.1210.418.365.564.88
Return on Networth / Equity (%) 10.887.2819.0179.18223.91
Return on Capital Employeed (%) 15.2510.4928.9827.7654.90
Return On Assets (%) 7.816.1611.329.617.75
Long Term Debt / Equity (X) 0.000.000.001.070.00
Total Debt / Equity (X) 0.000.000.001.297.83
Asset Turnover Ratio (%) 0.870.872.072.000.00
Current Ratio (X) 2.064.691.100.960.67
Quick Ratio (X) 2.054.661.090.960.67
Inventory Turnover Ratio (X) 498.730.000.000.000.00
Interest Coverage Ratio (X) 114.6858.469.248.433.70
Interest Coverage Ratio (Post Tax) (X) 79.3240.276.846.263.13
Enterprise Value (Cr.) 1298.842571.190.000.000.00
EV / Net Operating Revenue (X) 2.508.530.000.000.00
EV / EBITDA (X) 15.0851.500.000.000.00
MarketCap / Net Operating Revenue (X) 2.619.340.000.000.00
Price / BV (X) 2.816.530.000.000.00
Price / Net Operating Revenue (X) 2.619.340.000.000.00
EarningsYield 0.030.010.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

BLS E-Services Ltd. is a Public Limited Listed company incorporated on 12/04/2016 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74999DL2016PLC298207 and registration number is 298207. Currently Company is involved in the business activities of Other professional, scientific and technical activities. Company's Total Operating Revenue is Rs. 66.83 Cr. and Equity Capital is Rs. 90.86 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
IT Enabled ServicesG-4B-1, Extension, Mohan Co-operative Indl. Estate, New Delhi Delhi 110044Contact not found
Management
NamePosition Held
Mr. Shikhar AggarwalChairman (Non - Executive) & Non Independent Direc
Mr. Rahul SharmaExecutive Director & CFO
Mr. Diwakar AggarwalNon Exe.Non Ind.Director
Ms. Shivani MishraIndependent Director
Mr. Ram Prakash BajpaiIndependent Director
Mr. Rakesh Mohan GargIndependent Director
Mr. Manoj JoshiIndependent Director

FAQ

What is the intrinsic value of BLS E-Services Ltd and is it undervalued?

As of 05 April 2026, BLS E-Services Ltd's intrinsic value is ₹116.32, which is 28.64% lower than the current market price of ₹163.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (11.0 %), book value (₹55.5), dividend yield (0.61 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of BLS E-Services Ltd?

BLS E-Services Ltd is trading at ₹163.00 as of 05 April 2026, with a FY2026-2027 high of ₹233 and low of ₹124. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,480 Cr..

How does BLS E-Services Ltd's P/E ratio compare to its industry?

BLS E-Services Ltd has a P/E ratio of 26.4, which is above the industry average of 23.74. The premium over industry average may reflect growth expectations or speculative interest.

Is BLS E-Services Ltd financially healthy?

Key indicators for BLS E-Services Ltd: ROCE of 15.8 % indicates efficient capital utilization. Dividend yield is 0.61 %.

Is BLS E-Services Ltd profitable and how is the profit trend?

BLS E-Services Ltd reported a net profit of ₹59 Cr in Mar 2025 on revenue of ₹519 Cr. Compared to ₹5 Cr in Mar 2022, the net profit shows an improving trend.

Does BLS E-Services Ltd pay dividends?

BLS E-Services Ltd has a dividend yield of 0.61 % at the current price of ₹163.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in BLS E-Services Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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