BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Security and Intelligence Services India Ltd. has reported a revenue decline of 1.9% QoQ with Indian Security business and facility management declining 7.2% and 14.6%, sequentially, primarily due to volume reduction within retail, entertainment and hospitality clients.
International business grew 3.5% QoQ in constant currency (CC) terms. SIS, being an essential service provider, faced minimal interruption in its business in terms of supply-side issues (within India Security Services business, 98% of headcount was available).
The Company also provided Rs 540 million in provisioning for doubtful debts and credit notes. Gross margins were broadly stable across segments.
SIS believes the current tough environment provides a ripe opportunity to gain market share both in terms of organic (as customers prefer high quality vendors) and inorganic means (consolidation of vendors), suggesting a significant headroom for growth.
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