This Multibagger Consumer Discretionary Stock Unveils Record Date For Issuing 1:1 Bonus Shares

BLS International Services Ltd is a small-cap company in the services and consumer discretionary sector with a market cap of Rs 3,703.57 Crore. In a meeting conducted on April 27, 2022, the company's Business and Finance Committee set Tuesday, May 17, 2022 as the record date for issuing bonus shares in the proportion of 1:1.

BLS International said in an exchange filing that "Business and Finance Committee of the Company in its meeting held on April 27, 2022 has fixed Tuesday, May 17, 2022 as the 'Record Date', for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus equity shares of the Company in the proportion of 1:1 i.e. 1 equity shares of Re 1 each for every 1 existing equity share of Re 1 each."

The company has also informed BSE by saying that "The existing Authorised Share Capital be increased from Rs. 20,24,50,000 /- (Rupees Twenty Crore Twenty Four Lakh Fifty Thousand only) divided into 20,24,50,000 /- (Rupees Twenty Crore Twenty Four Lakh Fifty Thousand only) Equity Shares of Re.1/- (Rupees one only) each, to Rs. 25,00,00,000/- (Rupees Twenty Five Crore only) divided into 25,00,00,000/- (Rupees Twenty Five Crore only) Equity Shares of Re. 1/- (Rupees One only) each and consequent Alteration of the capital clause of the Memorandum of Association of the Company, subject to approval of shareholders."

On May 07, 2022, the company's board of directors will meet to declare standalone and consolidated financial results for the quarter and year ended March 31, 2022, as well as the final dividend recommendation. For the same, the company informed BSE yesterday by saying that "In compliance with Regulations 29 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of the Company will be held on Saturday May 07, 2022, inter alia, to consider and approve the Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended on March 31, 2022, along with Report of the Statutory Auditors thereon and to recommend final dividend, if any, for the F.Y. 2021-22, amongst other matters."

CRISIL Ratings has recently acknowledged its 'CRISIL A-/Stable/CRISIL A2+' ratings on BLS International Services' banking facilities. In a report, CRISIL has said "The ratings continue to reflect the established market position of the BLS International group in the visa outsourcing services sector, diversified business risk profile, and robust financial risk profile. These strengths are partially offset by the tender-based business, susceptibility to changes in regulations by the concerned ministries of various countries." The rating agency also on 5th April 2022 has clarified that "Business risk profile continues to be driven by the strong market position with presence in over 60 countries and presence in diversified revenue segment. Accordingly, an operating income growth is estimated in fiscal 2022 to over Rs 800 crore supported by addition of new orders and customers after experiencing a sharp decline of around 40% during FY21 on account of pandemic induced challenges on business demand. Improving scale is expected to support growth in operating margins to around 13% in FY22 (against 11.1% a year ago)."

On the BSE, the company's shares have risen from Rs 90.50 on April 30, 2021 to Rs 360.90 on April 29, 2022, 3:40 pm IST, representing a multibagger return of 298.78 per cent in a year. The stock has climbed by 89.65 per cent year to date (YTD), and by 59.20 per cent in the previous six months. The stock has surpassed the market in the last month, gaining 52.60 per cent vs a -2.65 per cent drop in the S&P BSE Sensex. The stock has risen 9.86 per cent in the previous five trading days, compared to a 0.86 per cent rise in the S&P BSE Sensex. According to BSE statistics, the stock reached a 52-week high of Rs 379.00 on April 29, 2022, and a 52-week low of Rs 81.00 on April 30, 2021. BLS International Services Ltd., on the other hand, is trading above the 5 days, 20 day, 50 days, 100 day, and 200-day moving averages, according to Bloomberg Quint. In today's closing session, the stock closed with a market price of Rs 360.90 compared to the previous closing price of Rs 369.15 a fall of -8.25 (2.23%) on Friday.