SIS540673Quarterly results

Q2 FY27 results: revenue up 28.1% YoY, EBITDA up 32.7%, PAT up 37.1%

SIS Ltd declared unaudited results for the quarter ended September 30, 2026.

By ScoutQuest · Wed 4 Nov 2026, 6:27 PM IST · 2 min read

Revenue from operations: Rs. 4,816.0 crore, up 28.1% YoY
EBITDA: Rs. 223.3 crore, up 32.7% YoY
PAT: Rs. 110.7 crore, up 37.1% YoY

The headline numbers

Revenue from operations of Rs. 4,816.0 crore, up 28.1% year on year
EBITDA of Rs. 223.3 crore, up 32.7% year on year
Profit after tax of Rs. 110.7 crore, up 37.1% year on year

These are unaudited consolidated figures for the quarter ended September 30, 2026, shared through a press release along with the results.

Segment picture

Security Solutions India grew the fastest of the businesses, helped by wins in ecommerce, metals and mining, and IT/ITES. The company said the segment posted its highest-ever quarterly EBITDA, with the margin improving over the previous quarter.
Security Solutions International growth was driven mainly by new wins in the energy and hospitality sectors. The company noted that growth in constant currency was lower than the reported rupee growth, so currency movement lifted the reported figure.
Facility Management Solutions continued its growth run, with wins in healthcare, material, steel and consumers, and also reported its highest-ever quarterly EBITDA with a margin improvement over the previous quarter.

Points worth weighing

Net Debt/EBITDA was 1.24x as of September 2026. The company said this is higher than at the previous quarter end, which means borrowings have grown relative to earnings.
Cash conversion measured as OCF/EBITDA was -44.4% for the quarter, i.e. operating cash flow was negative relative to EBITDA. For a services business, collections lagging profit is something to track.
Profit growth outpaced revenue growth, helped by operating leverage and better segment margins.

What management said

Group Managing Director Mr. Riturj Raj Kishore Sinha said the company had called FY27 an inflection year in Q1, and that Q2 establishes the trend, describing it as a record revenue quarter with the highest-ever quarterly PAT. He added that a major chunk of the Labour Code repricing benefit is still ahead.

About the company

SIS describes itself as an Indian multinational essential-services company, a market leader in security solutions, facility management and cash logistics in India, and the largest security solutions company in Australia. It also states that it is among the top private sector employers, with offices across a large number of districts.

How to read this

The release points to strong year-on-year growth across revenue, EBITDA and profit, with margin gains in the India security and facility management businesses. The two items that sit against that picture are the higher net debt to EBITDA and the negative operating cash flow relative to EBITDA for the quarter. Whether these are timing effects or a trend would need the detailed results and subsequent quarters.

Also from SIS