SIS LIMITED — Investor Meet, 28-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

SIS management views the New Labor Codes as a "GST moment for labor," driving workforce formalization. As a fully compliant player, SIS anticipates significant growth as increased regulatory burden shifts business from unorganized to organized players. Contracts ensure full statutory cost pass-through, protecting margins. Higher minimum wages are expected to boost revenue and profitability. Gratuity and PF changes have negligible impact due to existing SIS practices. Management projects a reduction in working capital intensity, as clients become directly liable for timely payments to contract staff. Overall sentiment is highly positive, signaling an inflection point for the industry.