External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>In Q4FY23, SIS reported strong growth with revenue at Rs 2,996 Cr, registering a growth of 3.1% QoQ.</li><li>Consolidated EBITDA for the quarter grew by 15.1% QoQ to Rs 135 Cr, owing to the rebound of international business.</li><li>The company reported a net income of Rs 94 Cr which declined by 10.5% QoQ.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In Q4FY23, SIS reported strong growth with revenue at Rs 2,996 Cr, registering a growth of 3.1% QoQ.Consolidated EBITDA for the quarter grew by 15.1% QoQ to Rs 135 Cr, owing to the rebound of international business.The company reported a net income of Rs 94 Cr which declined by 10.5% QoQ.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SIS Ltd - Better Execution; Improving Outlook to Support Growth

<ul>
<li>Robust outlook on the verticals such as Security Solutions and Facility Management.</li>
<li>The international business vertical has improved and is likely to regain momentum.</li>
<li>The management is confident of gaining medium-term demand momentum on the backdrop of the deals it has won in the previous quarters. It also expects improvement on the margin front moving forward.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Robust outlook on the verticals such as Security Solutions and Facility Management.
The international business vertical has improved and is likely to regain momentum.
The management is confident of gaining medium-term demand momentum on the backdrop of the deals it has won in the previous quarters. It also expects improvement on the margin front moving forward.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SIS Ltd. - Robust Execution; Improving Outlook to Support Growth

<ul><li>SIS reported moderate growth in Q4FY22 with Revenue at Rs 2,648 Cr, registering an encouraging growth of 1.8% QoQ, (below our expectations).</li><li>Consolidated EBITDA for the quarter de-grew by 4.1% QoQ to Rs 124 Cr, owing to tepid international business</li><li>We recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share, implying an upside of 13% from the CMP.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

SIS reported moderate growth in Q4FY22 with Revenue at Rs 2,648 Cr, registering an encouraging growth of 1.8% QoQ, (below our expectations).Consolidated EBITDA for the quarter de-grew by 4.1% QoQ to Rs 124 Cr, owing to tepid international businessWe recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share, implying an upside of 13% from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SIS Ltd: International Business Struggles; Healthy Recovery to Support Growth

<ul><li>SIS reported moderate growth in Q3FY22 with Revenue at Rs 2,601 Cr, registering an encouraging growth of 7% QoQ, (above our expectations).</li><li>Consolidated EBITDA for the quarter grew by 5.7% QoQ to Rs 130 Cr, owing to strong growth in the India business</li><li>We recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share, implying an upside of 13% from CMP.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

SIS reported moderate growth in Q3FY22 with Revenue at Rs 2,601 Cr, registering an encouraging growth of 7% QoQ, (above our expectations).Consolidated EBITDA for the quarter grew by 5.7% QoQ to Rs 130 Cr, owing to strong growth in the India businessWe recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share, implying an upside of 13% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SIS: Healthy Recovery; Robust International Business

<p>We recommend a BUY with TP of Rs. 530 share. Security and Intelligence Services (India) Ltd (SIS), is a leading security services company in India and Australia with leadership positions in cash logistics and facility management services. The SIS group has expanded its footprint not just across 29 Indian states, but also across a widespread network in Australia and Singapore with strong client relationship and best in class services across all the verticals.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We recommend a BUY with TP of Rs. 530 share. Security and Intelligence Services (India) Ltd (SIS), is a leading security services company in India and Australia with leadership positions in cash logistics and facility management services. The SIS group has expanded its footprint not just across 29 Indian states, but also across a widespread network in Australia and Singapore with strong client relationship and best in class services across all the verticals.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

SIS Ltd provides private security services. The Company offers security solutions including planning and deployment of security and armed guards, firemen, dog handlers, consulting, and investigation works. SIS serves customers in India, New Zealand, and Australia.

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SIS (SECIS IN)

SIS Ltd - Better Execution; Improving Outlook to Support Growth

In Q4FY23, SIS reported strong growth with revenue at Rs 2,996 Cr, registering a growth of 3.1% QoQ. Consolidated EBITDA for the quarter grew by...

Axis Direct

SIS Ltd. - Robust Execution; Improving Outlook to Support Growth

Robust outlook on the verticals such as Security Solutions and Facility Management. The international business vertical has improved and is likely...

Axis Direct

SIS Ltd: International Business Struggles; Healthy Recovery to Support Growth

We recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share,...

Axis Direct

SIS: Healthy Recovery; Robust International Business

We recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share,...

Axis Direct

Pick of the Week: SIS Ltd

We recommend a BUY with TP of Rs. 530 share. Security and Intelligence Services (India) Ltd (SIS), is a leading security services company in India...

Axis Direct

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