BLS International shares rise 7% as Delhi HC sets aside govt order debarring company from tenders

BLS International Services share price

The shares of BLS International Services jumped more than 7 percent on December 19 after the Delhi High Court overturned an order by the Ministry of External Affairs (MEA) to ban the company from participating in future tenders of the ministry and India Mission abroad for two years.

The shares of the company rose to Rs 340 apiece in the morning trading hours of Friday, extending gains for the second consecutive session.

Why MEA had imposed the ban?

In an exchange filing released on October 11, BLS International Services informed investors about the order by MEA. It however informed that the order will not affect the existing contracts, which will continue as per terms, and will not have any significant bearing on the company's financial outlook.

The order was issued on the account of allegations including court cases and complaints of applicants. This debarment shall not affect the financial performance of existing operations of the company, and it is evaluating the appropriate legal action against it, BLS International further said.

Notably, during the first quarter of the FY26 (April-June), Indian Missions contributed to approximately 12 percent to the consolidated revenue and nearly 8 percent of the firm's EBITDA. "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," it added.

Delhi High Court overturns ban:

In an exchange filing released in the post market hours of December 18, BLS International said that it had challenged the ban by filling a writ petition before Delhi High Court.

"The Company has received an order from the Hon’ble High Court of Delhi setting aside the debarment order passed by the MEA. Consequently, the debarment imposed on the Company pursuant to the said order stands quashed," it said.

BLS International Services share price:

BLS International Services shares have gained around 3 percent in the past one month, but fell nearly 7 percent in the past six months. The stock is down around 32 percent in 2025 so far.

This comes after the stock gained nearly 66 percent in the past three years. It currently has a P/E ratio of nearly 22, and a market capitalization of more than Rs 13,616 crore.

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