• Financial and volume performance: BLS International grew its revenue by over 36% and EBITDA and PAT by over 35% to ₹800-plus crore, handling approximately 11 lakh visa applications for the quarter and around 45 lakh for the full year.
• Operating margin trends: Margins in the visa segment improved to upwards of 40%, keeping consolidated margins stable at 25% despite margin drag from the RD Philes acquisition in the digital business.
• Growth target and contracts: The company targets 20% to 25% growth over the next few years, supported by tender wins from governments including Slovakia, Cyprus, Italy, Poland, Portugal, and the Indian government in China.
• UIDAI project ramp-up: Phase 1 has been rolled out with over 50 offices opened across India, with full revenue accrual and complete ramp-up expected within the next six to seven months.
• Market share expansion: Global market share in the visa outsourcing industry has grown from 5%–7% to upwards of 15%–18%, with further upside anticipated from new tenders and first-time outsourcing in Latin America and Africa.