BLS E-Services share price today

BLS E-Services Ltd's share price was ₹148.44 at the close on 4 November 2026. It has been rising for 23 weeks. That is 16.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹66 and ₹163, and at that close it sat 85% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today BLS E-Services Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 36 weeks in a row.

Over the last 2.7 years the share price moved −14% while the NIFTY 500 moved +10%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: profit up on a year earlier for 9 quarters in a row, promoters raised their stake for 3 quarters in a row and revenue up on a year earlier for 7 quarters in a row.

1. Profit up on a year earlier for 9 quarters in a row

   In the June 2026 quarter profit was ₹19 crore, +5.6% on a year earlier.

   Why: Profit rose because the company made more money on each transaction and kept expenses down.

   Next results: check whether more of the extra revenue turns into profit after the Atyati business is folded in.

   From the earnings call on 29 Sep 2026.

2. Promoters raised their stake for 3 quarters in a row

   From 68.9% to 72.5% of the company by the September 2026 quarter.

3. Revenue up on a year earlier for 7 quarters in a row

   In the June 2026 quarter revenue was ₹304 crore, +24.6% on a year earlier.

   Why: Revenue rose because the company disbursed more loans and its retail volumes grew.

   Next results: check whether the main bank-service network and acquired businesses keep growing revenue.

   From the earnings call on 29 Sep 2026.

For April to June 2026 (the quarter ended 30 June 2026), BLS E-Services reported revenue of ₹304 crore, up 24.6% from ₹244 crore a year earlier, and a profit of ₹19.0 crore, up 5.6% from ₹18.0 crore.

BLS E-Services results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

BLS E-Services' management discussed these results on a call held on 29 September 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

BLS E-Services closed at ₹148.44 on 4 November 2026, up 45.1% from ₹102.33 a year earlier (7 November 2025). Its highest weekly close since February 2024 was ₹194.32 on 23 February 2024.

BLS E-Services share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

151 weekly closes from 9 February 2024 to 4 November 2026.

4 Nov 2026: BLS E-Services closed at ₹148.44, up 1.1% on the week and down 7.8% on the month. 6 Oct 2026: Share split: face value cut from ₹10 to ₹5 a share (ex-date).

Earlier

• 29 Sep 2026: BLS E-Services held its results call for April to June 2026. Management guided: Continue growing organic BC volumes and acquired businesses.
• 8 Sep 2026: ex-date for a dividend of ₹0.50 a share.
• Results for April to June 2026: Revenue up 24.6% and profit up 5.6% on a year earlier.
• Our read, 31 May 2026: High-velocity revenue platform at a critical margin inflection, BC scale has been won; the question is whether operating profit leverage follows in FY27.
• 13 Feb 2026: ex-date for an interim dividend of ₹0.50 a share.

Our read of the business

Latest quarter: Record revenue ₹323 Cr, operating margin stays at 6% floor, margin story pending.

Our read after the latest results, written 31 May 2026.

BLS E-Services paid ₹0.50 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.34% at the ₹148.44 close on 4 November 2026. The last was a dividend of ₹0.50 a share, ex-date 8 September 2026.

BLS E-Services dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 2 of the last 12 months' payments came before a split or bonus; the 12-month total above is on today’s share count.

Yes. BLS E-Services Ltd paid out 16% of its profit as dividends in FY26, and it paid a dividend in 2 of its last 6 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 29 September 2026, BLS E-Services' management guided: Continue growing organic BC volumes and acquired businesses.

“When we valued the company, we did not assign any value to the JLG business, with the understanding that we would not continue with this loss-making business.”Amit Sudhakar, on the call for April to June 2026

What management guided

• Increase wallet share through additional services and partner offerings.
• Pursue additional government empanelments and tenders.
• Continue technology spending and evaluate strategic inorganic opportunities as they arise.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 29 September 2026.

What is changing at BLS E-Services, from the latest results and calls: bc network scale + atyati integration, digital india / financial inclusion structural tailwind and bfsi cross-sales layer (new partnerships).

• BC Network Scale + Atyati Integration. Aadifidelis BC consolidation drove 115% last 12 months revenue growth; Atyati adds 25,900 CSPs to reach 70,000+ network and unlocks digital lending. ⚠ estimate
• Digital India / Financial Inclusion Structural Tailwind. Government DBT disbursals (₹1,00,000 Cr processed), BC industry 19% yearly growth, Digital India mandates create durable volume floor. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 31 May 2026.

Operating margin compressed 1,119 basis points in 6 quarters; if BC margins stay at 6-7%, profit margin is structurally 5-6% regardless of revenue scale.

The main risks

• Structural Margin Compression, BC Mix Dilution Permanent: Operating margin compressed 1,119 basis points in 6 quarters; if BC margins stay at 6-7%, profit margin is structurally 5-6% regardless of revenue scale. ⚠ estimate
• Zero Institutional Participation, Weak Price Support: FII stake fell from 9.27% (Mar 2024) to 0.99% (Dec 2025); MF having 0%; 2-year return -27.5% vs Nifty. ⚠ estimate
• Atyati Integration Execution Risk + IPO Proceeds Diversion: Atyati closing slipped to Jul 2026; IPO proceeds diverted via EGM; integration of 25,900 CSPs across 28 states carries operational complexity. ⚠ estimate
• Regulatory / Government Contract Dependency: G2C revenues tied to government e-governance contracts; any CSC policy shift or MeitY budget cut directly impacts volumes. ⚠ estimate

Our read after the latest results, written 31 May 2026.

When BLS E-Services reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Atyati retained-business contribution - check revenue, operating margin, and profit conversion after integration.

BLS E-Services is on 2 of our India lists: Momentum stocks and IT stocks.

BLS E-Services Ltd earned ₹19.0 Cr of net profit in the Jun 2026 quarter, +5.6% on the same quarter a year earlier. That is the 9th quarter in a row of profit growth. Full-year FY26 profit was ₹69.0 Cr. Over 5 years profit has grown 87.2% a year on average. That is 6.3% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹18.0 Cr.

For the full year, FY26 profit was ₹69.0 Cr (+16.9% on the year before).

Why profit moved: revenue changed +24.6% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +9.7% and revenue +107.5%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY26-Q4. Record revenue ₹323 Cr, OPM stays at 6% floor, margin story pending

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

BLS E-Services Ltd reported ₹304 Cr of revenue in the Jun 2026 quarter, +24.6% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 5 years it has grown 77.2% a year on average. The last full year, FY26, came in at ₹1,118 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. BLS has processed ₹1,00,000 Cr+ in Direct Benefit Transfer payouts and opened 12 lakh new BSBD accounts. India's BC industry is projected to exceed ₹14,700 Cr by FY25 at 19% CAGR with 13.5 lakh active BCs nationwide, BLSE is building toward the top 1% of this base. Government e-governance contracts are long-tenor, volume-linked and sticky. This driver is STRUCTURAL and provides the volume floor; it does not determine margins.

The last four reported quarters add to ₹1,178 Cr.

FY26 revenue was ₹1,118 Cr, +115.4% on the year before.

Recent pace: the last four quarters grew +107.5% on average, against 77.2% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +71.2%, against +97.5% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +9.4%, against +30.7% a year (rolling over).

FY26-Q4. Record revenue ₹323 Cr, OPM stays at 6% floor, margin story pending

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

BLS E-Services Ltd's operating margin was 7.0% in the Jun 2026 quarter, about the same as the same quarter a year ago. Across 6 years it has been between 7.0% and 14.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed −0.3 percentage points on the year while gross margin changed −0.2 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

FY26-Q4. Record revenue ₹323 Cr, OPM stays at 6% floor, margin story pending

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

Over the last 3 years, 85% of BLS E-Services Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹51.0 Cr of operating cash against ₹69.0 Cr of profit. After ₹11.0 Cr of spending on assets, ₹40.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 85% of profit came in as cash: the cash cycle got 11 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 8.1× depreciation over three years. The next section checks what that spending is building.

BLS E-Services Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 39 days in FY26, down from 50 days in FY21. It spent ₹122 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,118 Cr, each day of that cycle ties up about ₹3.1 Cr, so roughly ₹119 Cr is tied up in the business at any time.

Spending on assets: ₹122 Cr over the last 3 years, against ₹15.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹15.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

BLS E-Services Ltd's P/E is 46.4×, in the middle of its own history: higher than 65% of past readings. Its usual P/E (the middle reading) is 36.5×, over 2.7 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +9.3% while the price moved +45.1%. The price did better than earnings, which pushed the multiple up within its own range.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 19% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Worked out from its price on 20 July 2026, BLS E-Services Ltd's share price assumed profit growth of about 21.4% a year. Over the past 5 years its profit actually grew 87.2% a year. Today its P/E is 46.4×, higher than 65% of its own last 2.7 years.

This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.

This is a one-day reading, taken on 20 July 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.

BLS E-Services Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: revenue growth has eased from +192.1% at its peak to +71.2%, but the business is still expanding, with ROCE falling at 16.0%. This is based on 8 quarters of 4 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

BLS E-Services Ltd's story is not scored yet against the checks our research set on 31 May 2026. Where it sits in its own cycle: COMPRESSION WITH STAGNANT EPS. Still open: OPM compressed 1,119 bps in 6 quarters; if BC margins stay at 6-7%, PAT margin is structurally 5-6% regardless of revenue scale.

NOT YET CHECKED

Our read, 31 May 2026. High-velocity revenue platform at a critical margin inflection, BC scale has been won; the question is whether EBITDA leverage follows in FY27.

From the price. Price stage 2, week 19, above its 200-day line, relative strength rising.

From the research. High-velocity revenue platform at a critical margin inflection, BC scale has been won; the question is whether EBITDA leverage follows in FY27.

Where they disagree. The mixed decomposition flag is appropriate: price fell, EPS grew modestly, OPM contracted. 20th percentile historically.

What is proven. High-velocity revenue platform at a critical margin inflection, BC scale has been won; the question is whether EBITDA leverage follows in FY27.

What is not proven yet. OPM compressed 1,119 bps in 6 quarters; if BC margins stay at 6-7%, PAT margin is structurally 5-6% regardless of revenue scale.

Sources: our stock research file (31 May 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

Short post-IPO (2024) history limits down-cycle observation; capital re-purposing reduces use-of-funds predictability.

Regulatory and governance record

No SEBI order against the company; the only fraud-keyword hit was a false-positive on the U.S. Bureau of Labor Statistics (BLS) public scam-advisory page.

Checked 7 June 2026.

BLS E-Services Ltd earned a ROCE of 16% in FY26. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 6.2% net margin and 1.47× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 6.2% net margin × 1.47× asset turnover × 1.46× leverage (assets divided by equity) ≈ 13.3% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 19% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

BLS E-Services Ltd had ₹6.0 Cr of borrowings against ₹523 Cr of equity in FY26, so its debt is 0.01× its equity. Its operating profit is 75 times its interest bill. Over 5 years borrowings went from ₹11.0 Cr to ₹6.0 Cr. Over the last 3 of those years it spent ₹122 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

The spending on assets is being paid for from cash, not new debt.

The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 19% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Promoters raised their stake in BLS E-Services Ltd by 3.6 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 72.5% of the company. Foreign institutions moved +1.1 points over the same period, to 2.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Why this happened. The Business Correspondent segment became the dominant revenue driver after Aadifidelis Solutions was consolidated in Dec 2024. Q2 FY26 highlighted the step-change: total income surged 226.8% YoY to ₹276 Cr while GTV reached ₹27,300+ Cr. The Atyati acquisition (Feb 2026, closing Jul 2026) adds Bengaluru-based technology for doorstep banking across 1 lakh villages in 28 states. The combined network (70,000+ touchpoints) is designed to enable micro-lending, currently accounting for ₹8,600 Cr of GTV, at higher margins than pure transaction facilitation.

Over the last two years: Promoters: +3.6 points over 8 quarters, to 72.5%; Foreign institutions: +1.1 points over 8 quarters, to 2.5%; Domestic institutions: +0.0 points over 8 quarters, to 0.0%.

Why the owners changed: promoters drove it (+3.6 points), together with foreign institutions (+1.1 points). They raised their stake step by step.

For BLS E-Services Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

Why this happened. Q2 FY26 saw new BFSI partnerships with Aditya Birla Capital, Piramal Finance, and Asit C. Mehta Investment Intermediaries. These financial product partnerships goal loan distribution and insurance cross-sales through the existing network, activities that generate significantly higher commissions than vanilla BC transactions. GTV from loan distribution was ₹8,600 Cr in Q2 FY26. This is the mechanism through which margins could recover: more BFSI revenue per touchpoint, not just more touchpoints.

50.5 out of 100, rank 34 of 69 in IT - Software, with 78% of the evidence available.

BLS E-Services Ltd scores 50.5 out of 100 against the 69 companies it is compared with in IT - Software, ranking 34. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 18.5 + 10.7 + 7.6 + 13.7 = 50.5. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

BLS E-Services ranks 34 of 69 IT - Software companies on the 4-Factor Sector Score, with 50.5 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: IT - Software, all 69 compared on one page.

BLS E-Services is the 26th largest of 68 IT - Software companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Aurionpro Solutions, R Systems International and Moschip Technologies. Just below it: Sasken Technologies, TechNVision Ventures and Kody Technolab.

IT - Software companies close in size

23. Aurionpro Solutions Ltd ₹2,986 crore
24. R Systems International Ltd ₹2,972 crore
25. Moschip Technologies Ltd ₹2,970 crore
26. BLS E-Services Ltd ₹2,668 crore
27. Sasken Technologies Ltd ₹2,606 crore
28. TechNVision Ventures Ltd ₹2,374 crore
29. Kody Technolab Ltd ₹2,138 crore

All 68 IT - Software companies, largest first

Companies close in size in other industries

1093. Ganesha Ecosphere Ltd ₹2,678 crore · Recycling
1094. Ravindra Energy Ltd ₹2,671 crore · Capital Goods - Electric General
1095. BLS E-Services Ltd ₹2,668 crore
1096. RPSG Ventures Ltd ₹2,661 crore · IT Enabled Services
1097. Balmer Lawrie & Company Ltd ₹2,657 crore · Diversified

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

See the plain-text version of this page.