BLS International Says MEA Order ‘Won’t Affect…’ As It Clarifies On Financial Impact
BLS International Services Ltd. issued a clarification on its debarment by the Ministry of External Affairs (MEA) and said that it is, "working to resolve the matter", according to an exchange filing on Saturday. "The company views this as a procedural development within the visa outsourcing industry and remains confident of a constructive resolution in due course", the filing stated.
It added that the development does not impact the company's current financials or ongoing operations, with all existing contracts with Indian Missions across the globe remaining valid and continuing to operate as scheduled.
Additionally, "the order will not have any significant bearing on the company's financial outlook", the filing stated.
The company has been by the MEA from participating in all future tenders and contracts for India Mission abroad for a period of two years.
The MEA issued the debarment order on Oct. 9, 2025, citing various reasons for the action. The company's regulatory filing explicitly stated that the order was passed on account of allegations that include court cases and complaints received from applicants against the company.
This two-year suspension prevents BLS International from bidding on any new MEA-related work, both domestically and for Indian Missions globally.
The company informed that Indian missions contributed to 12% of its consolidated revenue and 8% to the Ebitda in the first quarter of fiscal 2026.
However, BLS said that the diversification of its portfolio has allowed it to strengthen its revenue mix along with the company's resilience against regional developments.
"Over the past few years, BLS International has strategically diversified its business portfolio, securing new and renewed contracts with key government and institutional clients across the United States, United Arab Emirates, Spain, Slovakia, Hungary, Poland, Portugal, and through the UIDAI project in India. The company further strengthened its overall business momentum by acquiring iDATA and Citizenship Invest during the last financial year", the company explained in its clarification.
The scrip had closed 0.04% lower at Rs 337.15 apiece on the NSE. This decline compared to 0.41% gains in the Nifty 50 at close on Friday.
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