SIS LIMITED — Investor Meet, 12-09-2025: Analysts/Institutional Investor Meet/Con. Call Updates

SIS Limited has acquired a 51% stake in A P Securitas (APS), significantly expanding its market share in key sectors like BFSI and logistics. APS, with FY24 revenues exceeding INR 1,000 Cr and 4.3% EBITDA margins, achieved an 18% CAGR over three years. This acquisition aligns with SIS's Vision 2030 to double market share and enhance solution-based offerings by integrating APS's comprehensive security services. Management anticipates strong synergies, targeting a 6% EBITDA margin for combined India security operations. The transaction, funded internally at ~8.3x FY24 EBITDA for the first tranche, ensures SIS's net debt-to-EBITDA remains below 1x and is projected to deliver an IRR exceeding 21%. SIS is confident in the strategic fit and accretive nature of this deal.