Security & Intelligence Serv.(India) is directly and indirectly engaged in rendering security and related services consisting of manned guarding, training, and indirectly engaged in paramedic and emergency response services; loss prevention, asset protection and mobile patrols; facility management services consisting of cleaning, housekeeping and pest control management services in the areas of facility management; cash logistics services consisting of cash-in-transit, ATM cash replenishment activities and secure transportation of precious items and bullion; and alarm monitoring and response services consisting of trading and installation of electronic security devices and systems through its subsidiaries, joint ventures and associates.
Q3 FY26 Earnings Results
- Revenue from Operations: ₹4,185 cr, +24.5% YoY vs ₹3,363 cr, +11.4% QoQ vs ₹3,759 cr; record quarterly high with all segments growing – Security India +33.7% YoY to ₹1,898 cr, Intl Security +20.8% YoY to ₹1,670 cr, Facility Mgmt +10.3% YoY to ₹636 cr.
- EBITDA: Operating EBITDA ₹196 cr (+25.2% YoY), margin stable 4.7%; highest-ever, driven by volume leverage and new contracts across e-commerce, education, steel, aviation, automotive, BFSI.
- PAT: Reported loss ₹138 cr vs profit ₹102 cr YoY (−236% YoY), due to ₹290 cr one-time Labour Code charges; operating PAT ₹101 cr (−1.3% YoY); 9M revenue ₹11,492 cr (+18% YoY), PAT ₹35 cr (−85% YoY).
- Other key metrics: OCF/EBITDA 141%, DSO −2 days, net debt/EBITDA 1.25x, ROCE 15.2%, RoE 14%; new wins ₹59 cr monthly revenue (security/facility).
Management Commentary & Strategic Decisions
- Milestone quarter with record revenue/EBITDA; operational strength evident despite one-time Labour Code hit; all segments scaled with new sector wins.
- Strategic moves: Interim dividend ₹7/share; Ravindra Kishore Sinha as Chairman Emeritus; strong cash conversion, order pipeline supports growth.
Q2 FY26 Earnings Results
- Revenue from Operations: ₹3,759 cr (+15% YoY vs ₹3,270 cr, +5.9% QoQ); record monthly run-rate ₹1,300 cr; India Security +11.5% YoY, Intl +19.3%, Facility +13.7%.
- EBITDA: Record ₹168 cr (+16.2% YoY), margin 4.5%; H1 trends strong.
- PAT: Operating PAT ₹93 cr (+35% YoY); H1 PAT positive.
- Other key metrics: Net debt/EBITDA improved to 1.03x; acquisitions like AP Securitas 51% stake.
Management Commentary Q2
- Broad-based growth across segments; EBITDA record on efficiencies.
- Strategic moves: Acquisitions/investments (AP Securitas, Installco Wify); monthly run-rate peak.
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