BLS International slumps after MEA bars firm from new tenders

BLS International Services tumbled 12.51% to Rs 295 after the Ministry of External Affairs (MEA) temporarily barred the company from participating in new Indian Mission tenders for a period of two years.

In a clarification to the exchanges, the company said the MEA directive will not affect its ongoing operations or financials. All existing contracts with Indian Missions across the globe remain valid and continue to operate as scheduled, BLS said.

The company added that Indian Missions accounted for about 12% of its consolidated revenue and 8% of EBITDA in Q1 FY26, suggesting limited financial impact.

BLS termed the ministry's order as a procedural development within the visa outsourcing industry, and said it is working toward resolving the matter.

Over recent years, the firm has diversified its business portfolio across new geographies and verticals, securing contracts in the United States, UAE, Spain, Poland, Portugal, and India (UIDAI project), among others. It also expanded through acquisitions such as iDATA and Citizenship Invest.

BLS International Services is a global tech-enabled services partner for governments and citizens. It operates in the domain of visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa, and retail services since 2005. The company works with over 46 client governments, including diplomatic missions, embassies, & consulates, and leverages technology and processes that ensure data security.

The company?s consolidated net profit jumped 49.8% to Rs 181 crore on 44.23% increase in revenue from operations to Rs 710.56 crore in Q1 FY26 over Q1 FY25.

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