New Delhi: BLS International delivered a robust performance in Q2 FY26, reporting strong growth across both its visa processing and digital services businesses, supported by recent acquisitions and new contract wins. The global tech-enabled services provider posted a consolidated revenue of ₹737 crore, marking a 49% YoY surge, driven by volume growth and improved revenue per application in its visa segment.
EBITDA for the quarter came in at ₹213 crore, translating into a healthy 29% margin, while profit after tax (PAT) grew 27% to ₹186 crore, despite lower other income during the period. Management emphasised that margins have remained stable, with the visa segment continuing to operate at over 40% profitability.
For H1 FY26, BLS International reported revenue of ₹1,447 crore, up 46%, while EBITDA rose 40% to ₹417 crore. PAT for the half-year stood at ₹367 crore, reflecting a 38% increase. The company remains debt-free, with a sizeable net cash position of ₹1,306 crore, providing ample room for strategic acquisitions.
The visa business continued to anchor performance, contributing ₹457 crore in Q2 with a 10% YoY rise and a 42% margin. Visa processing volumes grew 12%, aided by new visa application centre (VAC) mandates across India, the Middle East, Africa, and China.
However, the quarter’s standout performer was the digital segment, which reported ₹278 crore in revenue, up sharply from ₹77 crore a year ago, following the consolidation of Aadifidelis. Though digital margins currently stand at 7%, management expects steady improvement as scale increases. The segment also benefited from rapid expansion in BC operations and loan lead generation, supported by 1.47 lakh active digital touchpoints.
A major boost came from the recently secured ₹2,000-crore UIDAI contract, which is expected to contribute around ₹350 crore annually at peak execution. The company also clarified that the temporary MEA ban has had no financial impact.
Looking ahead, BLS plans to deploy its substantial offshore cash reserves for further M&A opportunities and reiterated its medium-term business mix outlook of 70:30 between visa and digital segments.
