What is guidance for FY27?

SIS is focused on two metrics – 15 per cent growth and 15 per cent return on capital/return on equity. FY26 has been a year of rebound. We are exiting FY26 with the highest revenue for the quarter, highest margin, highest profit after tax. We believe that we have the momentum to make FY27 a stronger year.

What’s the absolute number you are looking for?

We are working on ₹20,000 crore, but I think 15 per cent is better guidance for the market. SIS is a proxy for India’s growth. If the economy is going to grow at 7-8 per cent, SIS will grow at 2x the GDP and that has been the trend for the last 20 years. We have been listed since 2018, and since then SIS has maintained a 15 per cent growth. We believe that if ours is a compounding story, we need to execute 15 per cent growth and 15 per cent return on a compounding basis and the rest will fall in place.

The group has three divisions: security solution-India, faculty management and the security solution international. Which one will have better performance and share?

SIS group clocks roughly ₹1,500 crore of revenue per month, as of March 2026. Out of this, roughly ₹850 crore come from India and the remaining from international operations.  The Indian business is growing at roughly 15 per cent plus and we believe that this year, particularly FY27, should grow at 15 per cent plus. We are the largest in India in security – almost double the size of the next competitor. We are also the largest in India in facility management.

We believe that now the focus has to be to grow the India businesses at a fast clip and accelerating market share growth and the migration from services to solution, which is basically adopting more technology with manpower,  to give customer solutions, not just manpower service part. Accelerating market share and solutioning is our key focus in FY27.

What about the international business?

Since listing, international business for the last 8 years has been growing at an average rate of 10 to 11 per cent per year. And we believe that it will maintain the same trajectory.

What would be the growth strategy – organic or inorganic? Any plan for acquisition?

SIS is primarily a organic growth dependent company. We have made acquisitions as and when such opportunities have come up which are for our shareholders, but growth is basically organic driven.

What are the new trends in the security solution business?

Today, AI is being used very extensively in CCTV monitoring and remote surveillance, and these are adding a lot of value to our clients. AI for video analytics using CCTV footage is a mega trend and we are using it. The other mega trend is robotics. We were the first to bring robot dogs last year. Drones are also being used. SIS is using other devices for servicing, cleaning. Robotics is the second mega trend which we are very much focused on.

You have a manpower of 3.5 lakh. Now, with more use of AI and robotics, will we see the same growth in manpower recruitment in the coming years?

As of now, it’s not a replacement technology, but a value-added technology. The guards and the janitors, cleaning staff are using these robots to do their services better. People in the CCTV control room are using AI video analytics to monitor better than watching the cameras themselves.

Does this mean you are focusing on combining AI with HI (Human Intelligence)?

Yes. We call it ‘ManTech’.

What are the impacts of labour codes on your company?

Security, facility management is a labour-intensive sector. We, however, believe that this is a very positive development and aims at better social security for employees besides better compliance by employers. It is digitising compliance through Suvidha portal; it is eliminating the humongous amount of paperwork of chalans through a single license. We believe these codes will act as a demand stimulus for SIS.

What is the plan for SIS Prosegur IPO?

We have filed DRHP and it is under consideration. What I can say is that SIS is committed to unlocking shareholder value by listing the cash joint venture company IPO in FY27. This has been delayed owing to the unfavourable stock market conditions for new IPOs, owing to the Gulf situation. We believe that once the market stabilises, at the opportune time in FY27, we will be able to hopefully get this listing across.