Rituraj Kishore Sinha, Group MD, SIS, told FE that the company’s nine-month FY22 results bolster inelastic demand for critical services such as security, facilities management and cash logistics. through the waves of Covid-19 and the rebound phases of economic activity. “We are ready to face the third wave with resilience,” he said.
In Q3FY22, SIS Ltd, the security solutions leader, reported its highest ever quarterly revenue of Rs 2,601 crore, compared to Rs 2,357 crore in Q3FY21. Ebitda for the quarter was Rs 129.7 crore and PAT was Rs 100.6 crore. The company’s security solutions business in India contributed Rs 995 crore, international security solutions contributed Rs 1,247 crore and facilities management business contributed Rs 368 crore, SIS said.
Rituraj Kishore Sinha, Group MD, SIS, told FE that the company’s nine-month FY22 results bolster inelastic demand for critical services such as security, facilities management and cash logistics. through the waves of Covid-19 and the rebound phases of economic activity. “We are ready to face the third wave with resilience,” he said.
According to a FICCI report, the Private Security Industry (PSI) is one of the largest employers in India (nearly 90 lakh people, with the potential to employ 31 lakh more by 2022) . These unarmed security guards are employed by approximately 22,000 private security agencies, and the major players are G4S, SIS, Securitas, Peregrine, CISS, Checkmate, etc., covering areas such as private security, facility management and cash logistics services.
Demand for security services is increasing due to urbanization, real and perceived risks of crime, the belief that public security measures are insufficient, and the growth of a middle class with assets to protect and means. to pay for additional security measures.
The Covid-19 pandemic has further increased the demand for security services, as although the general public did not need to leave their homes, residential, commercial and public places still needed to be managed. “This sector (PSI) is resistant to the worst types of crises,” Sinha added.
SIS operates in India, as well as Australia, Singapore and New Zealand. With over 2.3 lakh frontline essential services workforce, SIS is among the top 10 private sector employers in India and is the largest security solutions company in Australia.
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