Revenue up 28%, EBITDA up 33% and PAT up 37% year on year, as security and facility management businesses all grow and SIS’s top official says the “major chunk” of the Labour Code repricing benefit is still ahead.
SIS Ltd. (NSE: SIS, BSE: 540673) has reported a strong set of numbers for the quarter ended September 30, 2026. Consolidated revenue rose 28% year on year, EBITDA grew 33% and profit after tax climbed 37%, according to the company’s unaudited financial results.
Group Managing Director Rituraj Kishore Sinha said, the quarter confirms the direction the company set out earlier in the year. “In Q1, we called FY27 an inflection year. Q2 establishes the trend – record revenue of INR 4,816 cr. with y-o-y revenue growth of 28%, EBITDA growth of 33% and our highest-ever quarterly PAT of INR 111 cr. The major chunk of the Labour Code repricing benefit is still ahead of us.”
Security Solutions India leads growth
The Security Solutions India segment was the biggest driver, with revenue up 38.9% year on year to Rs 2,144.1 crore. That compares with Rs 1,543 crore in Q2 FY26 and Rs 2,004 crore in Q1 FY27. Major wins came from the e-commerce, metals and mining, and IT/ITES sectors.
The segment also reported its highest-ever quarterly EBITDA, at Rs 113.2 crore. Its EBITDA margin rose to 5.3% in Q2 FY27, from 5.1% in Q1 FY27.
International business grows, helped by currency
Security Solutions International posted revenue of Rs 2,019.6 crore, up 25.7% year on year, against Rs 1,607 crore in Q2 FY26 and Rs 1,982 crore in Q1 FY27. In constant currency, growth was 6.3%. The company attributes the growth mainly to new wins in the energy and hospitality sectors.
Segment EBITDA stood at Rs 71.9 crore, up 34.5% year on year, with an EBITDA margin of 3.6% in Q2 FY27.
Facility management posts record EBITDA
Facility Management Solutions grew revenue 7.6% year on year to Rs 677.3 crore, compared with Rs 629 crore in Q2 FY26 and Rs 642 crore in Q1 FY27. Wins came from the healthcare, material, steel and consumer sectors.
The segment recorded its highest-ever quarterly EBITDA of Rs 38.3 crore, up 17.8% year on year. Its EBITDA margin improved to 5.7% in Q2 FY27 from 5.5% in Q1 FY27.
Returns, debt and cash flow
On return ratios, ROCE stood at 16.5% and RoE at 16.0% in Q2 FY27. Net debt to EBITDA rose to 1.24x as of September 2026, from 1.05x as of June 2026.
Cash conversion was weaker. Operating cash flow to EBITDA on a consolidated basis was -44.4% for the quarter, while group days sales outstanding (DSO) stood at 69 days.
About SIS
SIS is an Indian multinational and essential services market leader valued at about Rs 16,000 crore, with more than 3,50,000 employees. It is among India’s top 10 private sector employers, with offices across more than 600 districts. The company ranks first in security solutions and first in facility management in India, and second in cash logistics. It is also the largest security solutions company in Australia.
Statements about future events or performance are forward-looking and subject to risks and uncertainties, and actual results may differ materially.