SIS Q2 FY27 Results: Consolidated Net Profit ₹111 Crore

SIS reported consolidated revenue from operations of ₹4,816.01 crore and net profit of ₹110.72 crore for the quarter ended 30 Sep 2026. On a standalone basis, net profit was ₹152.63 crore for the same quarter.

Key highlights

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Net profit grew faster than revenue and faster than profit before tax. Revenue from operations rose 28.1% YoY to ₹4,816.01 crore, profit before tax rose 17.8% to ₹121.97 crore, and net profit rose 37.1% to ₹110.72 crore. The tax expense was ₹11.25 crore, against ₹22.77 crore in Q2 FY26, a fall of 50.6%.

Finance costs and depreciation both rose faster than revenue. Finance costs rose 59.6% to ₹58.71 crore and depreciation rose 42.6% to ₹67.85 crore. The consolidated statement prints acquisition-related depreciation of ₹7.9 crore and acquisition-related finance cost of ₹8.2 crore in Q2 FY27, both nil in Q2 FY26.

The company presents results without Ind AS 116 alongside the statutory figures. It says Ind AS 116 moves lease rentals into depreciation and finance cost, which inflates reported EBITDA. On that basis, EBITDA is ₹200.5 crore against reported EBITDA of ₹223.3 crore, and PAT is ₹115.6 crore against reported PAT of ₹110.7 crore.

The auditor, S S Kothari Mehta & Co. LLP, reported that nothing has come to its attention indicating a material misstatement. For the consolidated results it did not review 37 subsidiaries and step-down subsidiaries, with quarterly total revenue of ₹3,222.36 crore; other auditors reviewed those, and the conclusion is not modified on that account.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone net profit rose 27.6% YoY to ₹152.63 crore and 183.2% from ₹53.89 crore in Q1 FY27. Profit before tax was ₹156.20 crore, up 22.0% YoY and from ₹51.37 crore in the previous quarter. The tax expense was ₹3.57 crore, against ₹8.33 crore a year earlier.

Standalone other income was ₹105.07 crore, against ₹3.01 crore a year earlier. Standalone revenue from operations was ₹1,562.13 crore in Q2 FY27 and ₹1,468.10 crore in Q1 FY27.

Standalone finance costs rose 9.6% YoY to ₹21.28 crore and depreciation rose 24.5% to ₹22.85 crore. Basic EPS was ₹10.84, against ₹8.49 a year earlier and ₹3.81 in Q1 FY27.

Inference

The company bought back 21,74,134 equity shares in the quarter for ₹91.31 crore, and a further 3,28,540 shares for ₹13.60 crore after 30 Sep 2026. The buyback closed on 16 Oct 2026 with 25,02,674 shares bought back in aggregate, all extinguished; the standalone notes give a maximum buyback size of ₹106.00 crore. Paid-up equity after 45,473 option shares were allotted is 14,13,46,223 shares of ₹5 each.

Net debt was ₹1,025.6 crore at 30 Sep 2026, against ₹807.1 crore at 30 Jun 2026, and Net Debt to EBITDA was 1.24 times against 1.05 times. The update lists a working capital outflow of ₹273 crore and buyback payouts of ₹92 crore in the quarter. The company's ₹250 crore of secured NCDs carry asset cover stated as at least 2 times, and the trustee annexure says no breach of the security cover requirement took place in the half year to 30 Sep 2026.

The board approved the continuation of Upendra Kumar Sinha as a Non-Executive Independent Director from 2 Mar 2027 until 28 Jun 2030, subject to a shareholder special resolution. Shareholders approved, by postal ballot, the continuation of Arvind Kumar Prasad as Whole-time Director up to 23 Apr 2027 on existing terms. The reason for the fall in consolidated tax expense is not stated in the filing, and the company says the major part of the Labour Code repricing benefit is still ahead.