Security & Intelligence Services India Ltd.(SIS), the nation’s only listed provider of security services, aims to treble sales in the next five years by increasing its share in the fast-growing local market. Factors including rising urbanization, increasing demand for protection from crime and terrorism, as well as a jump in completed new buildings, are boosting demand for private security services in India.
However, in five years, SIS India aims to capture a ‘double-digit’ share of India’s market for security and management services – including the use of drones to inspect and map customer sites — as it wins over clients ranging from energy firms to owners of shopping malls, warehouses and residential buildings, said Rituraj Sinha, managing director of SIS India, in an recent interview. He also predicts registered security businesses’ sales will increase to 65% of the market from about 40% as they elbow out other operators.
SIS India’s total net debt rose 64% to Rs 690 crore as of June 30 from March 31, according to the company’s latest investor presentation, with a net debt to Ebitda ratio of 1.4. Group revenue from April to June rose 25% from a year earlier to Rs 2,010 crore.
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