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SIS Limited Q4 FY26: Revenue up 31%, EBITDA up 26%

April 30, 2026 3 mins read Firehose Gupta

SIS Limited — Quarter ended March 31, 2026 (Q4 FY26) and year ended March 31, 2026 (FY26)

Period Revenue EBITDA Operating PAT ROCE ROE
Q4 FY26 ₹4,489 cr.
31% ⬆
Q4 FY25: ₹3,428 cr.		 ₹207 cr.
26% ⬆
Q4 FY25: ₹165 cr.		 ₹106 cr.
28% ⬆
Q4 FY25: ₹83 cr.		 16.5% ⬆
FY25: 14.3%
FY26 ₹15,982 cr.
21% ⬆
FY25: ₹13,189 cr.		 ₹717 cr.
19% ⬆
FY25: ₹604 cr.		 ₹392 cr.
24% ⬆
FY25: ₹318 cr.		 15.8% ⬆
FY25: 13.2%
Quarter Revenue (₹ cr.)
Q1 FY18 1,243
Q2 FY18 1,538
Q3 FY18 1,611
Q4 FY18 1,837
Q1 FY19 2,008
Q2 FY19 2,178
Q3 FY19 2,167
Q4 FY19 2,358
Q1 FY20 2,379
Q2 FY20 2,601
Q3 FY20 2,678
Q4 FY20 2,904
Q1 FY21 2,977
Q2 FY21 3,073
Q3 FY21 3,269
Q4 FY21 3,759
Q1 FY22 4,185
Q2 FY22 4,489
Quarter EBITDA (₹ cr.)
Q1 FY18 67
Q2 FY18 84
Q3 FY18 74
Q4 FY18 98
Q1 FY19 125
Q2 FY19 134
Q3 FY19 121
Q4 FY19 147
Q1 FY20 121
Q2 FY20 130
Q3 FY20 121
Q4 FY20 121
Q1 FY21 126
Q2 FY21 139
Q3 FY21 151
Q4 FY21 145
Q1 FY22 168
Q2 FY22 189
Q3 FY22 207
Particulars (In ₹cr.) Q4 FY26 Q4 FY25 Q3 FY26 Y-o-Y Change Q-o-Q Change FY26 FY25 Y-o-Y Change
Revenue 4,489.3 3,427.9 4,185.2 31.0% 7.3% 15,981.5 13,189.0 21.2%
EBITDA 207.0 164.8 189.3 25.6% 9.4% 716.6 603.7 18.7%
EBITDA Margin% 4.6% 4.8% 4.5% 4.5% 4.6%
Depreciation 65.8 38.6 51.0 70.5% 28.9% 206.1 163.5 26.1%
Finance Costs 41.1 37.6 41.1 9.3% 0.0% 159.9 160.6 -0.5%
Other income & share of profit/(loss) in associates 20.5 22.8 14.3 80.5 93.9
Earnings Before Taxes (Operating) 120.6 111.4 111.4 8.3% 8.3% 431.0 373.4 15.4%
Operating EBT Margin% 2.7% 3.2% 2.7% 2.7% 2.8%
Less: Acquisition related costs / (income)
– Depreciation 4.6 0.0 4.9 9.3 0.4
– Finance Costs 7.5 -0.2 7.3 14.8 0.0
Less: Non-recurring statutory impact for Employee Benefits – – 290.0 290.0 –
Less: Goodwill Impairment – 305.8 – 305.8
Earnings Before Taxes (Reported) 108.6 -194.2 -190.8 155.9% 156.9% 116.9 67.2 73.9%
Reported EBT Margin% 2.4% -5.7% 4.6% 0.7% 0.5%
Tax expense 6.1 29.1 -52.4 -20.9 55.5
Profit After Taxes (Reported) 102.5 -223.4 -138.4 145.9% 174.1% 137.8 11.8 1,069.3%
Reported PAT Margin% 2.3% -6.5% -3.3% 0.9% 0.1%
Profit After Taxes (Operating)* 105.5 82.5 100.8 27.9% 4.6% 392.3 317.6 23.5%
Operating PAT Margin% 2.4% 2.4% 2.4% 2.5% 2.4%
EPS (on reported PAT) 7.3 -15.5 -9.8 9.7 0.8
OCF 420.9 287.9 266.0 766.9 742.3
OCF to EBITDA% 203.3% 174.8% 140.5% 107.0% 123.0%
Net Debt 706.9 428.7 839.9 706.9 428.7
Net Debt to EBITDA (LTM EBITDA) 0.99 0.71 1.25 0.99 0.71
Business Segments Revenue Growth Q4 FY26 v/s Q4 FY25 Y-o-Y Revenue Growth Q4 FY26 v/s Q3 FY26 Q-o-Q Revenue Growth FY26 v/s FY25 Y-o-Y EBITDA Growth Q4 FY26 v/s Q4 FY25 Y-o-Y EBITDA Growth Q4 FY26 v/s Q3 FY26 Q-o-Q EBITDA Growth FY26 v/s FY25 Y-o-Y
Security Solutions – India 34.2% 1.4% 22.4% 23.1% 7.0% 14.7%
Security Solutions – International (on a constant currency basis) 17.1% 7.5% 24.1% 10.1% 8.1% 19.3%
Facility Management Solutions 8.1% -0.2% 11.0% 26.5% 1.2% 29.9%
SIS Group Consolidated 31.0% 7.3% 21.2% 25.6% 9.4% 18.7%
Particulars (In ₹cr.) Q4 FY26 Q4 FY25 Q3 FY26 Change % 12M Numbers Change %
Y-o-Y Q-o-Q FY26 FY25 Y-o-Y
Interest on lease liabilities 8.1 3.5 5.3 22.8 15.0
Interest on Debt 40.5 33.9 43.1 151.8 145.5
Reported Interest Cost (Finance cost) 48.6 37.4 48.4 30.0% 0.4% 174.7 160.5 8.8%
Particulars (in ₹cr.) Q4 FY26 Q4 FY25 Change % Y-o-Y Q3 FY26 Change % Q-o-Q
Operating EBT – India Business* 86.6 79.6 13.0% 80.1 8.1%
Operating EBT – International Business* 34.1 34.8 -2.0% 31.3 8.8%
Operating EBT* 120.6 111.6 8.3% 111.4 8.3%
Particulars (in ₹cr.) Q4 FY26 Q4 FY25 Q3 FY26
Reported PAT 102.5 -223.4 -138.4
Less: One-off adjustments/Exceptional items* -3.0 – -239.2
Add: Goodwill Impairment – 305.8 –
Operating PAT 105.5 82.5 100.8
Particulars (in ₹cr.) Q4 FY26 Q4 FY25 Q3 FY26
Operating PBT – A 44.1 38.2 47.5
Current tax -13.0 – 12.0
Less: Tax on Capital Gains and dividends 12.0 – -11.1
Adjusted current tax – B -0.9 – 0.9
Deferred tax effect on timing differences 2.3 9.2 -1.4
Total tax items – C 2.3 9.2 -0.5
Adjusted Current tax rate (B/A) -2.1% 0.0% 1.9%
Real Effective tax rate (C/A) 5.2% 24.2% -1.1%
Particulars (in ₹cr.) IND – SEC INT – SEC FM Consolidated
PBT 57.8 34.1 24.3 108.6
Cash Profit 114.6 72.6 38.2 215.0
Changes in working capital 61.1 25.8 45.9 231.6
Taxes paid -8.1 -13.2 -4.4 -25.73
Net Operating cash flows 167.6 85.2 79.8 420.9
Capex -4.1 -4.0 -14.1 -22.2
Investments made/realised 4.1 -1.5 0.0 -85.6
Other items 0.0 0.0 0.0 -0.1
Net Investing cash flows -0.1 -5.4 -14.1 -107.9
Borrowings, net -5.2 -46.1 3.5 -47.8
Lease liability -7.7 -12.8 -1.7 -22.1
Interest paid -12.9 -8.7 -3.5 -24.5
Other items -99.7 0.7 0.0 -98.9
Net financing cash flows -125.5 -66.9 -1.6 -193.3
Net change in cash flows 42.1 12.9 64.1 119.7
EBITDA 98.4 74.1 34.7 207.0
OCF/EBITDA% 170.3% 115.0% 230.1% 203.3%
Particulars (in ₹ cr.) March 2026 December 2025
India Intl Total India Intl Total
Long-term borrowings 340 557 897 389 587 976
Working capital borrowings 508 30 538 615 5 620
Add: Lease liabilities 124 230* 354 119 212 331
Gross Debt 972 817 1,789 1,123 805 1,927
Less: Cash and Cash Equivalents 365 717 1,082 416 672 1,087
Net Debt 607 100 707 707 133 840
FY Value
FY21 0.72
FY22 1.38
FY23 1.75
FY24 1.52
FY25 0.71
FY26 0.99
FY Value
FY21 138.3%
FY22 46.9%
FY23 34.8%
FY24 67.5%
FY25 123.0%
FY26 107.0%
FY Value
FY21 1.2%
FY22 1.1%
FY23 1.2%
FY24 1.4%
FY25 1.2%
FY26 1.3%
FY Value
FY21 1.4%
FY22 1.0%
FY23 1.0%
FY24 1.2%
FY25 1.2%
FY26 1.1%
Particulars Q4 FY26 Q4 FY25 Y-o-Y Change % Q3 FY26 QoQ Change %
Revenue 1,925.3 1,435.1 34.2% 1,898.0 1.4%
Reported EBITDA

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