SIS Ltd. Announces Its Unaudited Financial Results For The Quarter Ended June 30th 2023

SIS Ltd. Announces Its Unaudited Financial Results For The Quarter Ended June 30th 2023

Business Updates:

Security Solutions India: The Security Solutions India business continued its growth momentum with 16.2% YoY growth and 1.2% QoQ growth in revenue for the quarter and reached Rs. 1,229 Cr. Major wins during the quarter came from the manufacturing, education, BFSI, and real estate sectors. EBITDA margin continues to improve to 5.4% in Q1 FY24 up from 5.0% in Q4 FY23 and a significant improvement from Q1 FY23 EBITDA margin of 4.0%. Our Alarm Monitoring and Response company, VProtect, is now servicing over 15,000 connections.
Security Solutions International: The Security Solutions International business recorded a revenue of Rs. 1,243 Cr. which is a 3.1% YoY growth (3.7% in constant currency) and – 3.7% QoQ growth (-1.3% in constant currency) for the quarter. EBITDA margins in Security Solutions – International business remained stable at 4.0% in Q1 FY24 compared to Q4 FY23. The YoY growth was achieved despite the discontinuation of one-off COVID-related contracts in the Security Solutions – International segment since Q2FY23.
Facility Management Solutions: The Facility Management Solutions segment continued its growth momentum with 21.3% revenue growth YoY and 3.0% growth QoQ for the quarter, reaching revenues of Rs 519 Cr. for the quarter. Major wins during the quarter came from manufacturing, healthcare and pharma, IT/ITES, and education sectors. The EBITDA margin was relatively stable at 4.4% in Q1 FY24 compared to 4.5% in Q1 FY23.
Cash Logistics Solutions: The Cash Logistics segment continues its strong revenue growth with 24.3% growth YoY and 2.5% growth QoQ for the quarter, driven by new wins in the door-step banking (DSB) and cash in transit (CIT) business. The Q1 FY24 EBITDA was Rs. 24 cr., an increase of 35.6% YoY, and the Q1 FY24 EBITDA margin was 15.7%. The quarterly revenue run rate has almost doubled and EBITDA has quadrupled in the last three years, while Q1 FY24 PAT was at Rs. 11 Cr., an increase of 1,513.3% over Q1 FY23.

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