Hello everyone – I have put together a story on BLS International in my newsletter.
In this post, I’ve focussed on 3 areas:
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What FY25 might look like for BLS International on the basis of their Q1FY25 numbers and their recent acquisition of iData (a Turkey based visa & consular services provider)? It is my estimation that revenue can increase by 35% and EBITDA by 94% in FY25 as compared to FY24
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The big question in my head was with regards the valuation. Having no comparable company (VFS Global is still unlisted and not domiciled in India), I used the good ol’ Peter Lynch PEG ratio. The PEG ratio came to 0.68 which indicates undervaluation
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I then looked at the business model itself and if one looks at it broadly then it’s a model where people are waiting in a queue to be served, they have money in hand, they are ready to pay whatever I charge & they have nowhere to go – the perfect business model. I’ve explained part of that in this section
Link to post: BLS International Stamps a 93% Upside
Hope you like it!
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