BLS International has addressed a recent directive from the Ministry of External Affairs (MEA) that temporarily restricts the company from participating in new Indian Mission tenders for two years. The company clarifies that existing contracts remain valid and the order will not significantly impact its financial outlook. In Q1FY26, Indian Missions contributed approximately 12% to consolidated revenue and 8% to EBITDA.
MEA Directive Clarification
BLS International has clarified a recent directive issued by the Ministry of External Affairs (MEA), which temporarily restricts the company from participating in new Indian Mission tenders for a period of two years. The company views this as a procedural development within the visa outsourcing industry and is working towards a constructive resolution.
Impact on Operations
The company states that this development will not impact its current financials or ongoing operations. All existing contracts with Indian Missions across the globe remain valid and will continue to operate as scheduled. The order is not expected to have a significant bearing on the company’s financial outlook.
Financial Contribution
In Q1FY26, Indian Missions contributed approximately 12% to the company’s consolidated revenue and about 8% of its EBITDA.
Diversification Strategy
Over the past few years, BLS International has strategically diversified its business portfolio by securing new and renewed contracts with key government and institutional clients across multiple countries, including the United States, United Arab Emirates, Spain and others. The acquisitions of iDATA and Citizenship Invest have further strengthened the company’s business momentum. This diversification has strengthened its revenue mix and reinforced resilience against regional developments.
Company Outlook
BLS International maintains its growth trajectory, underpinned by robust business fundamentals and a well-balanced global portfolio. The company remains committed to delivering value to its investors and stakeholders.
Source: BSE
