SIS Ltd reported record consolidated revenue of ₹15,982 crore, up 21.2%, and EBITDA of ₹717 crore, up 19%. However, net profit was impacted by a one-time statutory adjustment related to new Labour Codes.

SIS Ltd FY26 Results: Revenue Climbs, Profit Impacted by Labour Code Adjustment

Consolidated Revenue: ₹15,982 crore (21.2% growth)
Consolidated EBITDA: ₹717 crore (19% growth)

Reader Takeaway: Strong revenue growth driven by operational expansion, but one-time costs impacted reported profits.

What just happened

SIS Limited announced its financial results for the year ended March 31, 2026. The company achieved a record consolidated revenue of ₹15,982 crore, marking a significant 21.2% year-on-year growth. Consolidated EBITDA also saw a healthy increase of 19% to ₹717 crore. However, the reported profits were affected by a one-time exceptional statutory adjustment concerning gratuity and leave liability provisions, necessitated by the new Labour Codes announced in November 2025.

Why this matters

The strong revenue and EBITDA growth highlight the company's expanding operational footprint across its Security Solutions (India and International) and Facility Management segments. The focus on a technology-enabled 'man-tech' model, incorporating AI surveillance and automated management, signals a strategic shift towards future-proofing its services. While the profit hit is non-recurring, it underscores the potential impact of regulatory changes on the sector.

The backstory

SIS Limited has been pursuing its 'Vision 2030' strategy to transform from a manpower-heavy to a technology-driven service provider. This includes investments in advanced surveillance and facility management technologies. The company has consistently focused on shareholder returns, evidenced by recent dividends and buybacks. The new Labour Codes represent a significant regulatory shift impacting employee-related liabilities across industries.

What changes now

Management expects profitability to normalize in the next financial year, easing the pressure from the one-time statutory adjustment. The company will continue to execute its technology integration plans. Leadership changes, including the appointment of Mrs. Rita Kishore Sinha as Executive Chairperson and remuneration revisions for key management personnel, will require shareholder approval.

Risks to watch

Investors will be closely monitoring profit normalization in the upcoming fiscal year as the impact of the labour cost changes on margins is assessed. The deferred IPO for the Cash Logistics business remains a point to watch for potential future value unlocking.

Peer comparison

While specific peer results were not provided in the filing, SIS Limited's broad-based revenue growth and focus on technology integration are key differentiators in the security and facility management services sector. The impact of new labour laws is a sector-wide concern that will affect competitors similarly.

Context metrics (time-bound)

Consolidated Revenue for FY26 stood at ₹15,982 crore, compared to ₹13,189 crore in FY25.
Consolidated EBITDA for FY26 was ₹717 crore, against ₹604 crore in FY25.
Operating PAT for FY26 was ₹428 crore.
Return on Capital Employed (RoCE) was 16.5% and Return on Equity (RoE) was 15.8%.
The company returned approximately ₹250 crore through dividends and buybacks in FY26.
Net debt-to-EBITDA ratio is under 1.

What to track next

Shareholders should track the company's ability to maintain its revenue growth trajectory, the successful execution of its 'Vision 2030' strategy, and the normalization of profits post the exceptional adjustment. The progress on the Cash Logistics IPO will also be a key development.