Standing the Test of Time
This year has been tumultuous for everyone in the world not just SIS. Our personal andprofessional lives have been impacted to a great extent and every day brings forth a freshset of challenges.
Every year I talk about our financial and operating performance which has always beena source of pride for me and this year even more so especially since we have performedagainst the backdrop of a once-in-a-generation event. Our revenues were up 7.6% and ourEBITDA was the same as last year despite significant COVID-related expenditure.
PERFORMANCE OF THE BUSINESS
Our Security vertical in India continues to be the largest and we have made someimpressive strides in our Alarm Monitoring and Response business under the VProtect brand.Our India security vertical revenues were flat y-o-y at close to Rs 3500 Crore.
Our International segment stood out with 22% growth in revenues and 29% growthin EBITDA - with our services being invaluable to the government in addressing severalCOVID-related security needs. All the geographies - Australia Singapore and New Zealand -have done exceedingly well this year.
The Facility Management segment has been impacted due to many end user segmentsstill not being fully operational including Railways IT Parks Hospitality
Retail etc. Due to this the revenues were done 12% over last year. With the enhancedfocus on hygiene and cleanliness post-COVID I feel confident that this segment willrecover quickly.
Our cash logistics joint venture with PROSEGUR continues to consolidate itsposition in a market that has many structural issues.
We have delivered strong revenue and EBITDA growth during the year and the segment ison steady revenue and margin uptrend.
SUPPORTED BY A PASSIONATE WORKFORCE
While our performance can be attributed to the resilience of our business segmentswhich play a vital role in our economy businesses and households it would not have beenpossible without the commitment dedication and passion of our employees. The individualstories of grit energy and unrelenting service spirit make me proud. The images andstories of our employees' efforts during these last few months are a source of inspirationto everyone in the organisation including myself.
The healthcare worker who had to spend three days at a hospital in the peak ofthe Mumbai COVID crisis and the heat of the Mumbai summer
The pest control worker who walked 15 kilometres in the absence of publictransport to disinfect a client's premises
The security personnel who had to secure quarantine centres at great risk totheir personal well-being
All these stories are a strong reinforcement of the SIS values and culture. Withemployees like these
I am confident of the continued success of the Company.
We have got over 1 Lakh employees vaccinated already and are hopeful that by July allour employees will be covered.
It is during extraordinary times like these that our services come to the fore and arerecognised by everyone. This year our employees were recognised by all sections of thesociety - right from the Prime Minister to our customers and vendors. Our hard work andefforts of 40 years allowed us to emerge stronger and more nimble over the past 12 months.
We lost some of our employees to the pandemic. Though we have supported their familiesnothing can replace the loss of a loved one. I pray for the departed souls and for theirfamilies to have the fortitude to bear the loss. Their services were immeasurable.
We set up a 'Hamare Heroes COVID Welfare Fund' early on in the pandemic to offermedical and associated support to the families afflicted by COVID. We are glad that wehave been able to provide '6.7 Crore to 5430 employees in their testing times.
LEVERAGING THE POWER OF THE DIGITAL
The last year has seen a steep increase in digital adoption across all industries andSIS too has seen a massive shift in technology usage across all areas of operation. All ofthese measures will help us in delivering our solutions more efficiently and productively.We will continue to invest in technology to improve our operations so that we remain aheadof the curve in solutions building and delivery capability.
READY FOR THE FUTURE
As the country gently eases its way out of the crisis clients would expect ourservices to become fully operational. We are gearing up to ensure that our customers'premises are safe hygienic and secure so that employees feel comfortable coming back towork. We have prioritised EHS with over 1 Lakh employees vaccinated through an aggressiveoutreach and vaccine education program. We are confident that our employees will be ableto return to work with comfort and confidence. As the largest essential services providerin the country we have
We set up a 'Hamare Heroes COVID Welfare Fund' early on in the pandemic to offermedical and associated support to the families afflicted by COVID. We are glad that wehave been able to provide Rs 6.7 Crore to 5430 employees in their testing times.
a vital role to play in getting our businesses and economy back. The economic andhealth scenarios in the country are still fragile and we are prepared to face the comingyear with the same sense of unflinching commitment we are known for.
On behalf of the Board and the entire leadership team I thank all our stakeholders fortheir continued belief in SIS. Your continued support and confidence is an unending sourceof comfort for us as we navigate the toughest challenge in our lifetimes. I am positivethat the SIS family will rise to the occasion as always.
RAVINDRA KISHORE SINHA