Results_Financial Results_ March 31, 2026
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 01 May 2026, 12:46 AM IST · BSE ID: 7e4ada7a-5fa0-4395-8bea-f5e780555063
View Original BSE Filing (PDF)
💡
In Simple Terms
SIS Limited reported its strongest annual revenue of Rs. 15,981.5 Cr (up 21%) and profits of Rs. 392.3 Cr (up 24%), with a new Executive Chairperson appointment pending shareholder vote.
🤖 AI Summary
- FY26 consolidated revenue Rs. 15,981.5 Cr, up 21.2% YoY; Operating PAT Rs. 392.3 Cr, up 23.5% YoY
- Q4 FY26 revenue Rs. 4,489.3 Cr (+31% YoY); Operating PAT Rs. 105.5 Cr (+27.9% YoY); EBITDA Rs. 207 Cr (+25.6% YoY)
- Net Debt declined to Rs. 706.9 Cr; Net Debt/EBITDA improved to 0.99x from 1.25x in Dec 2025
- Security Solutions–India segment revenue grew 34.2% YoY to Rs. 1,925 Cr; Facilities Management revenue up 8.1% YoY to Rs. 634.7 Cr with EBITDA margin at 5.5%
- Rita Kishore Sinha appointed Executive Director and Executive Chairperson for five years from May 1, 2026, subject to shareholder approval; family relations disclosed
🔢 Key Numbers — exact figures from BSE filing, not rounded
FY26 Consolidated Revenue
Rs. 15,981.5 Cr
21.2%
FY26 Operating PAT
Rs. 392.3 Cr
23.5%
Q4 FY26 Consolidated Revenue
Rs. 4,489.3 Cr
31.0%
Q4 FY26 Operating PAT
Rs. 105.5 Cr
27.9%
Q4 FY26 EBITDA
Rs. 207 Cr
25.6%
FY26 EBITDA
Rs. 716.6 Cr
18.7%
Net Debt/EBITDA (LTM)
0.99x
Security Solutions–India Revenue (Q4)
Rs. 1,925 Cr
34.2%
Facilities Management Revenue (Q4)
Rs. 634.7 Cr
8.1%
Facilities Management EBITDA Margin
5.5%
Capital Returned to Shareholders (FY26)
Rs. 250 Cr
🏢 How This Affects the Company
FY26 delivered highest-ever revenue and EBITDA, with all segments growing. Security Solutions–India showed robust 34.2% YoY revenue growth; Facilities Management margins improved. Labour Codes renegotiation of ~30,000 contracts through FY27 opens demand catalyst for compliance-driven customers.
Operating PAT up 23.5% YoY to Rs. 392.3 Cr. Net Debt declined by Rs. 133 Cr to Rs. 706.9 Cr with Net Debt/EBITDA at 0.99x from 1.25x. ROCE at 16.5% and ROE at 15.8% reflect improved capital quality. Rs. 250 Cr returned to shareholders via dividends and buybacks in FY26.
Group DSO improved to 63 days from 67 days in Q3 FY26 and 65 days in Q4 FY25 — lowest since June 2023. Working capital intensity declining. APS integration on track with SISCO performing per strategic objectives.
Labour Codes create one-time payables reversal of Rs. 38.8 Cr in Q4 FY26 (from initial Rs. 290 Cr provision in FY25) but also expand formal addressable market by shrinking regulatory arbitrage, reducing unorganized competition risk.
👥 What This Means For Shareholders
✅
Action Required
Shareholder approval required for Rita Kishore Sinha's appointment as Executive Director and redesignation as Executive Chairperson for five years. Watch for General Meeting notice and voting timeline.
👤
Who Is Affected
All equity shareholders of SIS Limited must vote on director appointment. The appointment involves family relations disclosure: Rita Kishore Sinha is mother of Managing Director Rituraj Kishore Sinha and Non-Executive Director Rivoli Sinha.
🔍
Management Signal
Transition from Non-Executive to Executive Chairperson signals active board engagement in operational strategy. Appointment of a director with 38 years legal experience and Supreme Court enrollment underscores governance strengthening.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Shareholder General Meeting notice for Rita Kishore Sinha director appointment approval; track voting outcome and effective date
Q1 FY27 results — verify if revenue sustains above Rs. 4,200 Cr run rate and margin stability continues
Labour Codes contract renegotiation progress — monitor completion of 30,000 contracts through FY27 and P&L impact realization
MEDIUM RISK
One-time Rs. 38.8 Cr gratuity reversal in Q4 masks ongoing labour cost inflation exposure from ~30,000 contract renegotiations pending through FY27. SIS-Prosegur IPO delay introduces liquidity uncertainty. Family-related board appointments require shareholder approval scrutiny.
💡 Investor Takeaway
FY26 delivered Rs. 15,981.5 Cr revenue (+21.2% YoY) and Rs. 392.3 Cr Operating PAT (+23.5% YoY) — highest ever. Net Debt/EBITDA improved to 0.99x. All segments grew. Rita Kishore Sinha's appointment as Executive Chairperson subject to shareholder approval, effective May 1, 2026.
⚖️ Strengths & Concerns
✅ Positives
- FY26 consolidated revenue Rs. 15,981.5 Cr (+21.2% YoY) with Operating PAT Rs. 392.3 Cr (+23.5% YoY); highest-ever EBITDA at Rs. 716.6 Cr
- Net Debt/EBITDA improved to 0.99x from 1.25x in Dec 2025; ROCE at 16.5% and ROE at 15.8% demonstrate disciplined capital allocation and earnings quality
⚠️ Concerns
- Goodwill impairment of Rs. 305.8 Cr recorded in Q4 FY25 reflects past acquisition challenges; one-time gratuity/leave liability of Rs. 290 Cr recognized in FY25 due to Labour Codes
- SIS-Prosegur IPO delayed; SEBI validity of IPO documents extended to September 30, 2026, indicating market timing constraints and liquidity contingency on external market conditions
📅 Company Track Record
SIS Limited incorporated in 1985 (CIN L75230BR1985PLC002083). Recent filings context shows steady growth trajectory: Q4 FY25 revenue Rs. 3,428 Cr and Operating PAT Rs. 83 Cr. FY25 full-year revenue was Rs. 13,189 Cr with Operating PAT Rs. 318 Cr. FY26 marks acceleration with 21.2% revenue growth and 23.5% Operating PAT growth, achieving highest-ever consolidated EBITDA of Rs. 716.6 Cr. Company returned Rs. 600 Cr to shareholders since IPO via dividends (Rs. 81 Cr FY18-FY21), buybacks (Rs. 270 Cr FY22-FY24), and combined Rs. 250 Cr in FY25-FY26.
Based on publicly available historical data. For context only.