BLS International Reports Strong Growth Across All Business Segments in FY26

BLS International Services Limited, the Indian multinational technology and services provider serving governments and citizens globally, has unveiled its audited consolidated financial results for the fiscal year and quarter ending 31st March 2026, showcasing sustained expansion across its operational portfolio.

The company registered its strongest-ever performance in FY26, bolstered by strengthened international operations and an expanded service range achieved through multiple contract acquisitions and renewals. The results underscore the company's commitment to maintaining service standards while pursuing growth.

Joint Managing Director Shikhar Aggarwal highlighted the company's trajectory, noting that FY26 represented a landmark year. Revenue expanded by 36.7% annually to Rs. 2,998.2 crores from Rs. 2,193.3 crores in the previous fiscal year, underpinned by consistent performance across service verticals. EBITDA climbed 30.1% year-over-year to Rs. 818.9 crores, while net profit surged 34.1% to Rs. 723.8 crores, demonstrating operational discipline and productivity improvements.

Over the three-year period spanning FY24 through FY26, the company achieved compound annual growth rates of 34% in revenue, 54% in EBITDA, and 49% in profit after tax—a testament to the durability of its business model and strategic execution.

Visa and Consular Services Momentum

The Visa & Consular Services division maintained robust profitability, with revenue climbing 11.3% to Rs. 1,840.3 crores in FY26. The transition to internally-managed operations yielded significant margin expansion, with EBITDA margins reaching 40.1% in FY26, up from 34.5% previously—a gain of 560 basis points. EBITDA in this segment grew 29.5% to Rs. 737.8 crores.

Application processing volumes increased 17.6% to 44.1 lakh applications compared to 37.5 lakh in the prior year. Net revenue per application rose 13.7% to Rs. 3,302 from Rs. 2,903. The company secured multiple contracts during the year, including a mandate from India's Ministry of External Affairs for visa application centres in China, a global contract with the Slovak Republic, and various agreements with Cyprus across multiple nations.

Digital Services Expansion

The Digital Services segment demonstrated accelerated growth, with revenues doubling at 114.4% year-over-year to Rs. 1,157.9 crores, primarily reflecting the consolidation of Aadifidelis Solutions. The segment posted EBITDA of Rs. 81.0 crores.

Within the Business Correspondent segment, gross transaction value reached Rs. 1,11,000 crores for the full year, compared to approximately Rs. 87,000 crores previously. Loan leads generated for banks and financial institutions totalled Rs. 36,800 crores, up significantly from Rs. 11,700 crores. The network comprised 45,800 customer service points and 1,55,000 touchpoints by year-end.

Quarterly Performance

In the fourth quarter, revenue from operations grew 17.6% to Rs. 814.6 crores versus Rs. 692.8 crores in the corresponding quarter of the prior year. EBITDA increased 17.1% to Rs. 203.9 crores, while net profit expanded 28.7% to Rs. 186.9 crores.

The Visa & Consular segment generated Rs. 471.7 crores in quarterly revenue, up 7.0% year-over-year, with EBITDA reaching Rs. 179.5 crores and margins improving to 38.1%. Application volumes rose 9.8% to 10.8 lakh, with net revenue per application reaching Rs. 3,444, up 9.4%.

Digital Services revenue in the quarter climbed 36.0% to Rs. 342.8 crores with EBITDA of Rs. 24.4 crores. The Business Correspondent segment recorded gross transaction value exceeding Rs. 31,000 crores, with loan leads valued at Rs. 12,000 crores generated for financial institutions.

Strategic Initiatives

During the quarter, the company commenced Cyprus visa operations in Kazakhstan, reinforcing its regional presence within the Commonwealth of Independent States. Slovakia visa application services were launched in Beirut and Nairobi, expanding coverage across the Middle East and Africa.

A partnership with IACCIA, an India-Arab business corporation, was established to provide trade document attestation through 17 centres across India, streamlining documentation processes for Indian enterprises trading with 22 Arab League member nations.

The company entered into a collaboration with Sypha AI to enhance visa and consular processing through artificial intelligence, incorporating automated workflows, security enhancements, and improved applicant experience. An AI-powered voice bot serving Spain-Ireland visa applicants was introduced, capable of delivering multilingual support in over 15 languages around the clock, with plans to deploy chatbots and email bots globally.

Enhanced cybersecurity protocols were implemented across BLS centres through a multi-layered technological framework incorporating advanced firewalls, OTP verification systems, appointment validation mechanisms, and supplementary security controls to mitigate fraud and automated attacks.