SIS Limited has informed the Exchange about Transcript of the earnings call held on May 4, 2026 for the quarter ended March 31, 2026.
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SIS Limited reported a milestone quarter with record revenue of INR 4,489 crores (31% YoY) and EBITDA crossing INR 200 crores for the first time at INR 207 crores (4.6% margin). India Security delivered INR 1,925 crores with 5.1% EBITDA margin; Facility Management INR 635 crores with 5.5% margin; and International Security INR 1,950 crores with 3.8% margin. The company achieved ROCE of 16.5% (up from 14.3%) and improved DSO to 63 days. The APS acquisition is expected to converge margins from 4.2% to 5.5% over 18 months. Management flagged significant minimum wage hikes in multiple states (Haryana 50%, UP 28%) as positive tailwinds and sees Labour Codes as an inflection point for the industry. The cash business IPO remains deferred but targeted within FY27.
Strong operational execution with all three segments firing simultaneously. Management's focus on margin improvement, working capital efficiency (DSO improvement), and capital allocation (INR 250 crore returned this year) signals a company in compounding mode targeting 15% growth and 15%+ ROCE on a multi-year basis. Minimum wage increases are revenue-positive as contracts have automatic pass-through.