Overview

• Shares fell more than 13% intraday to a low near Rs 276–277 before trading around Rs 293 on Monday.
• An MEA directive dated October 9 debarred BLS from participating in new tenders for Indian Missions abroad for two years.
• In an October 11 exchange filing, BLS said all existing contracts remain valid and operations continue as scheduled.
• The company quantified exposure from Indian Missions at roughly 12% of consolidated revenue and about 8% of EBITDA in Q1 FY26.
• Coverage noted that the exclusion curtails future tender visibility and could allow competitors such as VFS Global to capture opportunities.