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HomeMarket NewsBLS shares in focus after company is debarred from MEA tenders for two years
In the first quarter of the financial year 2026, Indian Missions contributed 12% to the company's consolidated revenue and 8% of its earnings before interest, taxes, depreciation and amortisation (EBITDA).
Shares of BLS Services Ltd. are in focus on Monday, October 13, after the recent developments regarding future tenders with the Ministry of External Affairs.
Over the weekend, the company said it has been debarred from participating in any future tender with the Ministry of External Affairs (MEA) for the next two years.
The ministry issued the debarment order based on allegations, including court cases and multiple complaints from passport applicants. BLS said it would assess the order and rely on legal remedies to address the issue.
It clarified that its current operations and businesses with the MEA would not be affected, thereby not affecting its financial performance either.
In the first quarter of the financial year 2026, Indian Missions contributed 12% to the company's consolidated revenue and 8% of its earnings before interest, taxes, depreciation and amortisation (EBITDA).
BLS is a New Delhi-based company that provides outsourced services for governments. It specialises in visa, passport and consular services. BLS is also a global partner for embassies and governments.
BLS shares ended the previous session 0.2% up at ₹337.9 apiece. The stock has declined 30% this year, so far.
