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    Expect all dues from Punjab government to be repaid in four months, says BLS International

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    Expect all dues from Punjab government to be repaid in four months, says BLS International

    Expect all dues from Punjab government to be repaid in three to four months, said Shikhar Aggarwal, Joint Managing Director, BLS International.
    "Talking about the outstanding due from the Punjab government, he said they stand at Rs 202 crore. We have received Rs 45 crore from them in the last two months, he said.
    Aggarwal said there is hope to extend the contract but there has been no confirmation of extension yet.
    The company is targeting a 32-35% profit growth in FY19, said Aggarwal.
    BLS International is likely to clock 110 million pound of revenues in three years for the UK contract, said Aggarwal.
    The profit margins for this contract could be 15% at the PAT level, he added.
    He said there is further scope to provide additional value-added services to the UK government and has the potential to enhance revenues by 20%.
    The company is also in talks with other India states and countries to provide services.
    It is an e-governance information technology company, which provides passport, visa services for various Indian states and countries.
    BLS International's revenues came flat, while margins declined by 200 basis points in Q4FY18. The company is also in alliance with Sopra Steria for delivery of contract for UK visas and immigration.
    The year-on-year fourth quarter revenues for the company were flat at Rs 205 crore, while the earnings before interest, taxes, depreciation, and amortization (EBITDA) was down 10% at Rs 34 crore. Margins also came in lower at 16.7% as against 18.7 percent year-on-year.
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