SIS’s Strong Q3 Beat Led By Robust Growth In International Business: Motilal Oswal
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Motilal Oswal Report
Security and Intelligence Services Ltd. reported strong growth of 8% YoY (6% beat to our estimate), led by 26.5% growth in the International business as aviation and special events related businesses resumed.
While India security and facilities management business saw healthy QoQ growth, they continue to remain down 2% and 15% YoY, respectively.
We continue to see a pick-up in growth in the India business (security and facility managememt) in FY22, helped by a quick rebound in macroeconomic activity.
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