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SIS reported strong Q2 FY26 results with consolidated revenue up 15% YoY to INR 3,759 Cr, its highest ever. EBITDA grew 16.2% to INR 168 Cr, with Facility Management margins improving to 5.2%. Management targets 6% EBITDA margins for India Security and FM businesses within the next few quarters. The AP Securitas acquisition is set to boost India Security's monthly revenue run rate by ~17% from Q3. Two-thirds of growth is volume-led, signaling robust demand. The outlook is confident, with FY26 projected as a rebound year and a cash logistics IPO planned to unlock shareholder value and reduce debt.