This debt-free, mid-cap company signs an agreement with the Inspector General of Registration, Gandhinagar Government of Gujarat

The stock is trading with a market cap of Rs 14,477 crore and has given multibagger returns of 111 per cent in a year.

BLS International Services Ltd, a well-known tech-enabled services provider, has been chosen by the Inspector General of Registration in Gandhinagar, Gujarat, to lead the implementation of an "Establishment and Running of Electronic Registration Centre" project across 287 Sub-Registrar offices in Gujarat.

In this project, BLS International will handle the procurement, installation, and commissioning of hardware at all 287 locations in Gujarat on behalf of the Inspector General of Registration. Additionally, the company will manage the deployment, supervision, and maintenance of both manpower and hardware for three years, with the possibility of extending the contract for up to two more years.

Management Commentary

Commenting on this collaboration, Mr. Shikhar Aggarwal, Joint Managing Director, BLS International Ltd., said, “This venture with the Inspector General of Registration, Gandhinagar, marks a significant milestone in our continued commitment to enhancing the accessibility and efficiency of government services. By leveraging our expertise in technology and service management, we are set to revolutionize the way registrations are handled across Gujarat, making processes more streamlined for citizens and government offices alike. We’re honored to undertake this project and are excited about the positive impact it will have on the community.”

The company posted robust Quarterly Results. The revenue of the company for Q3FY24 stood at Rs 438 crore which grew by 0 per cent YoY. The company's operating profit stood at Rs 89 crore, while the PAT of the company stood at Rs 87 crore, which decreased by 89.13 per cent on a YoY basis.

The stock is trading with a market cap of Rs 14,477 crore and has given multibagger returns of 111 per cent in a year. The stock price further showed impressive performance in the last 3 years giving returns of 1358 per cent.

BLS International Services Ltd. is a well-regarded global company that partners with governments and citizens to provide various services since 2005. They specialize in visas, passports, consular, citizen, e-governance, attestation, biometric, e-visa, and retail services. Recognized for their excellence, they've been awarded titles like "India’s Most Valuable Companies" by Business Today Magazine and "Best under a Billion’ Company" by Forbes Asia. They are also listed among "Fortune India’s Next 500 companies". Working with over 46 client governments, including Diplomatic Missions, Embassies, and consulates, they prioritize data security through technology and stringent processes.

With a vast network of more than 50,000 centers worldwide and a team of over 60,000 employees and associates, BLS International has processed over 220 million applications globally. They hold certifications such as CMMI DEV L5 V2.0 & SVC L5 V2.0, ISO 9001:2015 for Quality Management Systems, ISO 27001:2013 for Information Security Management Systems, and ISO 14001:2015 for Environmental Management Systems.

Investors should keep an eye on this Mid-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.