Multibagger update: This multibagger stock signs an exclusive agreement!

The company reported highest ever operational revenue and highest ever quarterly EBITDA in Q3FY23

BLS International Services is a trusted global tech-enabled services partner for governments and citizens and has an impeccable reputation for setting benchmarks in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa and retail services since 2005.   

On April 05, 2023, the company informed the exchange that it has signed a landmark Memorandum of Understanding (MoU) with Thailand to accept Electronic Visa on Arrival (EVOA) applications for 17 countries worldwide. This is a historic step towards improving the travel experience for Thai visitors.  

This convergence of forces is expected to propel Thailand's tourism inflow steadily, with estimated 75,000-plus applications expected for the upcoming season. BLS International is dedicated to providing seamless and efficient visa services for visitors from these 17 countries, with convenience at the forefront of the overall travel experience.  

For the December quarter ended 2022, the operational revenue zoomed more than 92 per cent from last year’s same quarter to Rs 437.90 crore. The EBITDA level stood at Rs 66.30 crore, up by a massive 160 per cent from Q3FY22. The net profitability of the firm shot up by more than 62 per cent from the corresponding quarter last year to Rs 45.85 crore. The company reported highest ever operational revenue and highest ever quarterly EBITDA in Q3FY23.   

On Wednesday, the stock surged more than 2.6 per cent to make an intraday high of Rs 170.10. The scrip witnessed some profit booking in its gains and closed flat at the previous closing level of Rs 165.65 apiece.   

The stock has witnessed heavy buying as it has given multibagger returns of more than 135 per cent in just 1 year. Keep a close eye on this trending multibagger stock.