The MEA’s debarment order cited various allegations, including ongoing court cases and multiple complaints from passport applicants. In response, BLS International said it is reviewing the order and will explore available legal options to challenge it.
“This development does not impact the company’s current financials or ongoing operations. 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 company said in a regulatory filing on October 11.
The company is working to resolve the matter. The company views this as a procedural development within the visa outsourcing industry and remains confident of a constructive resolution in due course,” BLS International Services said.
During the first quarter of FY26, Indian Missions accounted for 12% of BLS International’s consolidated revenue and 8% of its EBITDA. The company continues to maintain its growth trajectory, underpinned by robust business fundamentals and a well-balanced global porƞolio. BLS International remains committed to delivering value to its investors and stakeholders, it said.
Headquartered in New Delhi, BLS International provides outsourcing and technology services to governments and diplomatic missions, offering visa, passport, and consular support across multiple countries.Shares of the company ended the previous trading session 0.2% higher at Rs 337.9 apiece. BLS International Services stock price has fallen around 30% so far this year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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