SIS Ltd Q3 FY23 reports Highest ever quarterly revenue of Rs. 2,904 Cr.

2024-04-24 05:17:45 Business

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New Delhi, February 02, 2023, SIS Ltd. (NSE: SIS, BSE: 540673), announced its Unaudited
Financial Results for the quarter ended December 31st, 2022.

? Segmental Revenues are as follows:
‒ Security Solutions India: Rs. 1,203 Cr. in Q3FY23 vs Rs 995 Cr. in Q3FY22 and Rs. 1,058
Crs in Q2FY23
‒ Security Solutions International: Rs. 1,219 Cr. in Q3FY23 vs Rs 1,245 Cr. in Q3FY22
and Rs. 1,161 Cr. in Q2FY23
‒ Facilities Management: Rs. 497 Cr. in Q3FY23 vs Rs 368 Cr. in Q3FY22 and Rs. 471 Cr.
in Q2FY23
? Return Ratios: ROE (based on proforma trailing 12 months PAT) is 16.7%, our strong
return ratios continue.
? Cash Conversion - OCF/EBITDA on a consolidated basis was 1.1% for the quarter, in-spite
of strong revenue growtth

Business Updates:
? India Security Solutions: The India security business continued the growth momentum
with 4.6% QoQ and 21.0% YoY growth in revenues and reached Rs. 1,203 Cr. Major wins
during the quarter came from Financial, Retail, Healthcare and Education segments.
EBITDA margin continues to improve to 4.9% in Q3 FY23 from 4.4% in Q2 FY23 driven by
our sharp execution and strong focus on profit improvement initiatives.

? International Security Solutions: The International business recorded a revenue of Rs.
1,219 Cr. which is a 5.0% QoQ growth (6.1% in constant currency) and a -2.2% YoY decline.
EBITDA margins in Security Solutions ? International business are tracking back at 4.0% in
Q3 FY23 from 3.3% in Q2 FY23. Continued catch-up of the price revisions based on wage
increments which took place in the previous quarter, led to margin recovery.

? Facility Management Solutions: The Facility Management segment continued its growth
momentum with 5.5% revenue growth over Q2 FY23 and 35.2% over Q3 FY22, reaching
revenues of Rs 497 Cr. for the quarter. Major wins during the quarter came from
Healthcare, Education and retail segments. The EBITDA margin was 4.0% in Q3 FY23,
which declined from 4.4% in Q2 FY23 due to certain exceptional items.

? Cash Logistics Solutions: The Cash Logistics segment continues its strong revenue growth
with 11.5% growth over previous quarter and 51.7% growth over Q3 FY22 driven by new
wins in Door-step banking and ATM business. The EBITDA margins for the quarter was
15.2%, an 85.6% increase over the same quarter previous year.

Commenting on the performance, Mr. Rituraj Kishore Sinha, Group Managing Director
said, ?We are happy to report that margins have increased this quarter, with consolidated
EBITDA margins increasing from 4.0% in Q2FY23 to 4.4% in Q3FY23. We continue to focus
on revenue growth and profit improvement initiatives.?

About SIS Limited (SIS):

SIS is a US$ 1.3 Bn, Indian Multinational and Essential services Market Leader in India, with over 2,70,000 employees. SIS is amongst the Top 10 private sector employers with over 400 offices across 650 districts. SIS is #1 in Security Solutions, #2 in Facility Management and #2 in Cash Logistics segments in India. It is also the largest Security Solutions company in Australia.