BLS International shares tumble 18% as MEA bars firm from future tenders for two years
According to the order, the debarment will not affect the company's existing contracts, which will continue under their current terms.
- Oct 13, 2025,
- Updated Oct 13, 2025 10:04 AM IST
Shares of BLS International Services Ltd plunged sharply on Monday, tumbling 17.85 per cent to hit a one-year low of Rs 277 on BSE. The steep decline followed the government's decision to debar the company from participating in future tenders of the Ministry of External Affairs (MEA) and Indian Missions abroad for a period of two years.
According to the order, the debarment will not affect the company's existing contracts, which will continue under their current terms.
Responding to the development, BLS International issued a clarification stating that the MEA's decision will not impact the company's ongoing operations or financial performance. "All existing contracts with Indian Missions across the globe remain valid and continue to operate as scheduled. Additionally, the order will not have any significant bearing on the company's financial outlook," the firm said.
The company highlighted that in Q1 FY26, Indian Missions accounted for around 12 per cent of consolidated revenue and about 8 per cent of EBITDA. BLS said it is working to resolve the matter and termed the development a procedural issue within the visa outsourcing industry, expressing confidence in a "constructive resolution" in due course.
BLS International also underlined its diversified business portfolio, noting that it has secured several contracts across the United States, United Arab Emirates, Spain, Slovakia, Hungary, Poland, Portugal and through the UIDAI project in India.
The firm added that its acquisitions of iDATA and Citizenship Invest in the previous financial year have further strengthened its business mix, providing resilience against regional challenges and contributing to its broader growth strategy.
Shares of BLS International Services Ltd plunged sharply on Monday, tumbling 17.85 per cent to hit a one-year low of Rs 277 on BSE. The steep decline followed the government's decision to debar the company from participating in future tenders of the Ministry of External Affairs (MEA) and Indian Missions abroad for a period of two years.
According to the order, the debarment will not affect the company's existing contracts, which will continue under their current terms.
Responding to the development, BLS International issued a clarification stating that the MEA's decision will not impact the company's ongoing operations or financial performance. "All existing contracts with Indian Missions across the globe remain valid and continue to operate as scheduled. Additionally, the order will not have any significant bearing on the company's financial outlook," the firm said.
The company highlighted that in Q1 FY26, Indian Missions accounted for around 12 per cent of consolidated revenue and about 8 per cent of EBITDA. BLS said it is working to resolve the matter and termed the development a procedural issue within the visa outsourcing industry, expressing confidence in a "constructive resolution" in due course.
BLS International also underlined its diversified business portfolio, noting that it has secured several contracts across the United States, United Arab Emirates, Spain, Slovakia, Hungary, Poland, Portugal and through the UIDAI project in India.
The firm added that its acquisitions of iDATA and Citizenship Invest in the previous financial year have further strengthened its business mix, providing resilience against regional challenges and contributing to its broader growth strategy.