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Yes Securities Report
Security and Intelligence Services Ltd. reported revenue of Rs 26 billion( up 7% QoQ), led by recovery across business segments‐ ( India security business up 5.2% QoQ; International security business up 7.2% QoQ; facilities management up 9.4% QoQ.
Facilities management business which was worst impacted due to Covid-19 lockdowns showed strong recovery with ease in lockdown restrictions across the economy.
Ebitda margin was flat QoQ at 5% despite, despite pay revision, one time incentive payouts and expenses towards medical assistance and vaccination of employees. Margin recovery is on track and moving back to pre Covid level.
During the quarter, SIS completed the acquisition of remaining 49% shares in Platform4 Group.
Gross debt declined by Rs 120 million QoQ; while cash and equivalent was down 760 million QoQ on increase in day sales outstanding during the quarter resulting from large contract deployment.
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