SIS LIMITED - Board/Management Information 2019

Date: October 24, 2019

National Stock Exchange of India Limited Exchange Plaza C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai-400051

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai-400001

BSE Code: 540673

NSE Symbol: SIS Dear Sir/Madam,

Sub.: Outcome of the Board meeting held on October 24, 2019

We wish to inform you that the Board of Directors at its meeting held today i.e. October 24, 2019 has:

1. Approved the un-audited financial results (standalone and consolidated) for the quarter and half-year ended September 30, 2019.
1. Approved the sub-division of equity shares of the Company from 1 (one) equity share of face value of Rs. 10 each to 2 (two) equity shares of face value of Rs. 5 each, subject to the approval of the members.
1. Approved the alteration of 'Capital Clause Clause V' of the Memorandum of Association of the Company, subject to the approval of the members.
1. Accepted and noted the resignation of Mr. Arun Kumar Batra, Independent Director effective October 24, 2019. As per the resignation letter dated October 24, 2019, the reasons for resignation of Mr. Batra are personal considerations, family compulsions and his extensive travelling. Mr. Batra has confirmed that there are no other material reasons other than those mentioned.

The Board places on record its sincere appreciation for the services rendered by Mr. Batra during his association with the Company.

Appointed Mr. Sunil Srivastav (DIN 00237561) as Additional Director (Independent) of the Company effective October 24, 2019 based on the recommendation of Nomination and Remuneration Committee. We hereby affirm that Mr. Srivastav is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.

Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), 2015 (SEBI Listing Regulations), we have enclosed the un-audited financial results (standalone and consolidated) for the quarter and half-year ended September 30, 2019 along with the limited review report issued by the statutory auditors.

The detailed disclosures as regards the appointment of Mr. Sunil Srivastav and sub-division of equity shares in accordance with Regulation 30 of the SEBI Listing Regulations and the relevant SEBI circular are enclosed as Annexure - 1 and 2 to this intimation.

A copy of the Press Release being issued in respect of the aforesaid financial results is enclosed.

The meeting commenced at 03:00 p.m. and ended at $.6:50$ p.m.

We request you to take the above on record.

Thanking you.

Yours Faithfully, For Security and Intelligence Services (India) Limited

Pushpalatha K Company Secretary

SrNo.	Details of events that need to beprovided	Information of such event(s)

$\mathbf{1}$	ReasonforChangeviz.appointment, resignation, removal,death or otherwise	Appointment
$\overline{2}$	Date of appointment/cessation (as	October 24, 2019
	applicable) & term of appointment;	Mr. Srivastav will hold office upto the date of the next annualgeneral meeting of the Company.
3	Briefprofile(inofcaseappointment);	Mr. Srivastav was at the helm of the Corporate Accounts Groupat State Bank of India. He served as Deputy Managing Directorof Corporate Strategies and New Businesses at SBI since May2014 and served as its Chief General Manager of Kolkata. Mr.Srivastav joined State Bank of India as a probationary officer in1980.
		In a career spanning over 38 years, Mr. Srivastav acquired a richexperience in Credit Risk, Project Finance, Corporate Finance,International Banking, Investment Banking, Corporate Strategyand Digital & Retail banking. He is a keen analyst andcommentator on developments in the field of Corporate Financeand Banking.
		Post retirement in April 2018, Mr. Srivastav has been engagedas a Senior Advisor with Edelweiss Global Wealth and AssetManagement besides being a member of the Global AdvisoryBoard of a Silicon Valley start-up, Harvesting Inc., and a SeniorAdvisor to the World Bank for their Energy and ExtractivesProgram in India.
		Mr. Srivastav previously served on the Boards of GillandersArbuthnot Ltd., SBICAP Trustee and Custodial Services, WestBengal Financial Development Corp., National PaymentsCorporation of India and Member Global Advisory Board ofMaster Card.
		Mr. Srivastav is a graduate of the University of Delhi and holdsa master's degree in business administration from Faculty ofManagement Studies, Banaras Hindu University.
$\overline{4}$	Disclosure of relationships betweendirectors (in case of appointment ofa director).	None

$\epsilon$

SI.	Particulars	Details
No.
1.	Sub-division ratio		Sub-division of equity shares of the Company from 1 (one) equity share
		of face value of Rs. 10 each to 2 (two) equity shares of face value of Rs.5 each
2.	Rationale behind the		In order to augment the affordability of the Company's equity shares and
	Sub-division	participation of the retail/individual investors and thereby facilitate more
		is proposed.	liquidity of the Company's equity shares sub-division of the equity shares
3.	Pre and post sharecapital - authorized,	Authorized Share Capital:
	paid-up and	Pre sub-divisionPost sub-division
	subscribed	Rs. 1,35,00,00,000 divided into	Rs. 1,35,00,00,000 divided into
		13,50,00,000 Equity Shares of	27,00,00,000 Equity Shares of
		Rs. 10 each.Rs. 5 each.

		Paid-up and subscribed Share Capital:
		The pre-split and post-split share capital will be disclosed by the Company
			as on the Record Date to be determined for the subdivision. The Board of
			Directors will determine the Record Date subsequent to the approval of
		the members.
4.	Expected time of	Approximately within 3-4 months of the approval of the members.
	completion;
5.	Class of shares whichare subdivided	Existing Equity Shares of face value of Rs. 10 each
6.	Number of shares of	Please refer point no. 3 above
	each class pre and
	post Sub-division
7.	Number of	Not Applicable
	shareholders who did
	not get any shares in
	consolidation and
	their pre-
	consolidation
	shareholding.

$P = \sqrt{\frac{2}{\frac{1}{2}} \sum_{i=1}^{N} \frac{1}{i}}$ ce Serv $\rightarrow$ 'Q

All 4 business verticals maintain momentum to deliver 63% YoY growth. With 248 crs EBITDA in H1 FY20, a standout performance amidst trying macro environment.

Board approves stock split from a face value of Rs10/ share to Rs5/ share.

Consolidated Revenue for Q2 FY20 is Rs. 2,089 cr, a growth of 23.6% YoY
Consolidated EBITDA for Q2 FY20 is Rs. 124 cr, growth of 58.1% YoY
Consolidated PAT for Q2 FY20 is Rs. 76 cr, showing a growth of 74% on a YoY basis
Sound return ratios - RONW at 22.6% and ROCE at 20.3%
75% OCF/ EBITDA in Q2 FY20

New Delhi, October 24th, 2019, Security and Intelligence Services (India) Ltd. (SIS) (NSE: SIS, BSE: 540673), A market leader in Security, Facility Management & Cash Logistics solutions, announced its Unaudited Financial Results for the quarter ended September 30th, 2019.

Key Consolidated Financials at a Glance:

Rs. In crs	Q2 FY20	Q2 FY19	Y-o-Y	Q1 FY20	Q-o-Q	H1FY20	H1FY19	Growth
Revenue fromoperations	2,088.8	1,690.2	23.6%	2,008.4	4.0%	4,097.1	3,301.6	24.1
EBITDA	123.6	78.2	58.1%	124.7	-0.9%	248.3	152.6	62.7%
EBITDA %	5.9%	4.6%		6.2%		6.1%	4.6%
Profit after taxes	76.2	43.8	74.0%	74.9	1.7%	151.1	83.3	81.4%
Profit after taxes %	3.6%	2.6%		3.7%		3.7%	2.5%

Return Ratios: Trailing 12month ROCE and RONW are 20.3% and 22.6% respectively.

Business Updates:

India Security Business:

Revenues Rs. 878.9 cr in Q2 FY20 v/s Rs. 812.3 crs in Q4 FY19 and Rs 629.9 cr in Q2FY19
- ‒ This translates to a QoQ growth of 8.2% and YoY growth of 39.5%
- ‒ Organic revenue growth is 8.2% QoQ and 24% YoY
EBITDA Rs. 53.7 crs in Q2 FY20 v/s Rs. 53.1 crs in Q1 FY20 and Rs 32.4 cr in Q2FY19
- ‒ This translates to a QoQ growth of 1.1% and YoY growth of 65.6%
- ‒ Margin has declined marginally from 6.5% in Q1 FY20 to 6.1% in Q2 FY20, margin decline due to annual wage hikes for back office staff
The India security business also saw a strong quarter for new sales ending the quarter with a monthly revenue run rate of Rs295 cr

International Security Business:

Revenues Rs. 903.4 cr in Q2FY20 vs Rs. 913.4 Crs in Q1 FY20 and Rs. 843.9 cr in Q2FY19
- ‒ This translates to a QoQ decline of -1.1% and YoY growth of 7.1%
EBITDA Rs. 49.6 crs in Q2 FY20 v/s Rs. 53.7 crs in Q1 FY20 and Rs. 30.9 cr in Q2FY19
- ‒ This translates to a QoQ decline of -7.6% and YoY increase of 60.3%
- ‒ EBITDA Margin has increased from 3.7% in Q2 FY19 to 5.5% in Q2 FY20 though this quarter has seen a decline in margin from 5.9% in Q1FY20 on account of Federal minimum wage revisions in Australia that get passed on with a lag.
Segment ended September with a monthly run rate of Rs318 cr.

Facility Management:

Revenues Rs.314.3 crs in Q2FY20 vs 290.2 crs in Q1 FY20 and Rs. 221.3 Crs in Q2 FY19
- ‒ This translates to a QoQ growth of 8.3% and YoY growth of 42.0%
EBITDA Rs. 20.9 crs in Q2FY20 vs Rs. 18.1 Crs in Q1 FY20 and Rs. 15.6 Crs in Q2 FY19
- ‒ This translates to a QoQ increase of 15.5% and YoY growth of 34.2%
- ‒ EBITDA Margin increased from 6.2% in Q1 FY20 to 6.6% in Q2 FY20
The segment also ended the quarter with a monthly run rate of Rs108 cr which takes us closer to becoming No. 1 in the sector as a part of our Vision 2020 plan.

Commenting on the performance, Mr. Rituraj Sinha, Group Managing Director said, "SIS has demonstrated significant resilience in a period of challenging times for the Indian economy. Our 9-quarter revenue CAGR of 5.9% and EBITDA CAGR of 7.1% reinforces the predictability and scalability that underpin the SIS model. Our businesses are quite demand inelastic and we are seeing proof of that in the SIS performance amidst the current mood of downturn. We ended the quarter with a monthly run rate of Rs748 cr which is a significant jump over the June run rate of Rs670 cr. Our cash flow generation also improved, despite stressed clientele, to generate operating cash flows at 75% of EBITDA.

With significant reform measures undertaken by the government over the past couple of months, we are hopeful of a quick economic recovery. Formalisation measures continue apace with the labour reforms that have been rolled out recently being an important stepping stone in this process. SIS is ideally poised to capture the coming growth recovery and the rapid formalization underway in the economy."

About Security and Intelligence Services (India) Ltd. (SIS):

SIS is a market leader in all the 3 business segments of Security, Facility management & Cash Logistics services. SIS is the 2nd largest & fastest growing Security services company in India and the largest security services company in Australia. It is also the 2 nd largest Facility Management Services company in India. SIS is the 2nd largest Cash Logistics Service provider in India. The company strongly believes in technology and leverages and deploys innovative tools to manage its manpower and improve employee productivity. SIS has the largest trained manpower supply chain in India.

Safe harbor statement:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

For further details please contact:

Company:
Security and Intelligence Services (India) Ltd.
CIN: U75230BR1985PLC002083
Mr. Vamshidhar Guthikonda
Email: [email protected]

603-604. New Delhi House 27. Barakhamba Road New Delhi-110 001 Phone: 011-43044999 E-mail: [email protected] Website: www.saxenaandsaxena.com

Independent Auditor's Review Report on the Consolidated Quarterly and half yearly Financial Results of Security and Intelligence Services (India) Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors of Security and Intelligence Services (India) Limited

We have reviewed the accompanying statement of unaudited consolidated financial results ("Statement") of Security and Intelligence Services (India) Limited ("the Parent"), its subsidiaries (collectively referred to as "the Group"), its associates and joint ventures, as listed in annexure to this report, for the quarter and six months ended September 30, 2019 attached herewith. being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. Attention is drawn to the fact that the consolidated cash flow statement for the corresponding period from April 01, 2018 to September 30, 2018, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review.

This Statement is the responsibility of the Parent's Management and has been approved by the Board of Directors at its meeting held on October 24, 2019. This statement has been compiled from the related unaudited interim consolidated financial statements. which has been prepared in accordance with Indian Accounting Standard 34, "Interim Financial Reporting" prescribed under Section 133 of Companies Act, 2013, read with relevant rules issued thereunder ("Ind AS") and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial results based on our review.

We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance about whether the financial results are free of material misstatements. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Based on our review conducted and procedures performed as stated in paragraph above and based on the consideration of the review reports of the other auditors referred to in paragraph below, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

We did not review the financial results and financial information in respect of 40 subsidiaries whose financial results reflect total assets of INR 28,255.30 Mn as at September 30, 2019, total revenue from operations of INR 12,568.77 Mn and INR 25,009.70 Mn and total net profit after tax of INR 348.09 Mn and INR 676.65 Mn and total comprehensive income of INR 375.75 Mn and INR 729.82 Mn for the quarter and six months ended September 30, 2019, respectively and net cash outflows of INR 1,204.86 Mn for the six months ended September 30, 2019, as considered in the consolidated financial results. The financial results and other financial information of these subsidiaries have been reviewed by other auditors and the financial results, other financial information and limited review reports have been furnished to us by the Parent's management. The consolidated financial results also include the group's share of net profit / (loss) of INR 0.40 Mn and INR (22.84) Mn for the quarter and six months ended September 30, 2019, in respect of 4 associates/jointly controlled entities, whose financial results and other financial information have been reviewed by other auditors, whose report has been furnished to us by the Parent's management. Our conclusion, in so far as it relates to the affairs of such subsidiaries and associates/jointly controlled entities is based solely on reports of other auditors and the procedures performed by us as stated in paragraph above. Our report is not modified in respect of this matter.

603-604, New Delhi House 27. Barakhamba Road New Delhi-110 001 Phone: 011-43044999 E-mail: [email protected] Website: www.saxenaandsaxena.com

Certain of these subsidiaries and associates/jointly controlled entities are located outside India whose financial statements have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standards applicable in their respective countries. The Parent's management has converted the financial statements of such subsidiaries and associates/jointly controlled entities from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Parent's management. Our opinion in so far as it relates to the balances and affairs of such subsidiaries and associates/ jointly controlled entities is based on the report of other auditors, the conversion adjustments prepared by the Parent's management and the procedures performed by us as stated in paragraph above.

For Saxena & Saxena Chartered Accountants (Firm Regn. No.006103N)

CA. Dilip Kumar (Partner) M. No. 82118 $1908$ 2118 AAAAGB2758 UDIN:

Place: - New Delhi Date: - October 24, 2019

Annexure to Auditor's Review Report

List of Subsidiaries:

1. Service Master Clean Limited
1. Tech SIS Limited
$3.$ Terminix SIS India Private Limited
1. SIS Business Support Services Private Limited
1. Dusters Total Solutions Services Private Limited
1. SISCO Security Services Private Limited
1. SLV Security Services Private Limited
1. Rare Hospitality and Services Private Limited
1. Uniq Detective and Security Services Private Limited
1. Uniq Detective and Security Services (Tamilnadu) Private Limited
1. Uniq Detective and Security Services (AP) Private Limited
1. Uniq Facility Services Private Limited
1. SIS Alarm Monitoring & Response Services Private Limited (formerly known as SIS Prosegur Alarm Monitoring & Response Services Private Limited)
1. SIS International Holdings Limited
1. SIS Asia Pacific Holdings Limited
1. SIS Australia Holdings Pty Ltd
1. SIS Australia Group Pty Ltd
1. SIS Group International Holdings Pty Ltd
1. MSS Strategic Medical and Rescue Pty Ltd
1. SIS MSS Security Holdings Pty Ltd
1. MSS Security Pty Ltd
1. Australian Security Connections Pty Ltd
1. SX Protective Holdings Pty Ltd (formerly known as Andwills Pty. Limited)
1. SX Protective Services Pty Ltd
1. Southern Cross Protection Pty Ltd
1. Southern Cross FLM Pty Ltd
1. Southern Cross Loss Prevention Pty Ltd
1. Cage Security Alarms Pty Limited
1. Cage Security Guard Services Pty Ltd
1. Eymet Security Consultants Pty Ltd
1. Askara Pty Ltd
1. Charter Customer Services Pty Ltd
1. Charter Security Protective Services Pty Ltd
1. Charter Security (NZ) Pty Limited
1. MSS AJG Pty Ltd
1. Platform 4 Group Ltd
1. SIS Henderson Holdings Pte Ltd
1. Henderson Security Services Pte Ltd
1. Henderson Technologies Pte Ltd
1. Triton Security Services Ltd
1. The Alarm Centre Limited

List of associates/Jointly controlled entities

1. SIS Cash Services Private Limited
1. SIS Prosegur Holdings Private Limited
1. SIS Prosegur Cash Logistics Private Limited
$4.$ Habitat Security Pty Ltd.

	Security and Intelligence Services (India) LimitedRegistered office : Annapoorna Bhawan, Telephone Exchange Road, Kurji, Patna - 800010
			CIN: L75230BR1985PLC002083
	Statement of consolidated financial results for the quarter and six months ended September 30, 2019
SI	Particulars					(Rupees in million except per share data)
No			Quarter ended			Six months ended	Year ended
		September30, 2019	June 30.2019	September30, 2018	September30, 2019	September30, 2018	March 31,2019
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	Income
$\mathbf{I}$	a) Revenue from Operations	20,888.58	20,083.95	16,902.10	40.972.53	33,015.85	70,932.73
	b) Other Income	41.94	35.94	47.44	77.88	103.65	175.64
	c) Other Gain/loss	$-63.30$	$-34.17$	3.21	$-97.47$	4.49	1.27
	Total Income $(a + b + c)$	20,867.22	20,085.72	16,952.75	40,952.94	33,123.99	71,109.64
	Expenses
	a) Cost of materials consumed	80.88	77.25	58.39	158.13	114.95	259.83
	b) Purchases of Stock-in-Trade	52.55	17.37	6.98	69.92	16.93	475.05
$\overline{2}$	c) Changes in inventories of finished goods	67.99	86.84	78.27	154.83	134.73	$-108.43$
	d) Employee benefits expense	17,091.92	16,422.25	13,832.45	33,514.17	27,104.31	57,570.72
	e) Finance costs	377.64	370.89	184.62	748.53	352.79	938.34
	f) Depreciation and amortization expenses	325.57	294.29	159.44	619.86	292.12	659.51
	g) Other expenses	2,358.43	2,232.85	2,144.30	4,519.28	4,118.69	9,083.98
	Total expenses $(a + b + c + d + e + f + g)$	20,354.98	19,501.74	16,464.45	39,856.72	32,134.52	68,879.00

3	Profit before tax and exceptional items (1-2)	512.24	583.98	488.30	1,096.22	989.47	2,230.64
$\overline{4}$5	Share of profit/(loss) of associates	0.40	$-23.24$	$-46.23$	$-22.84$	$-89.26$	$-135.39$
6	Profit before exceptional items and tax (3+4)Exceptional items	512.64	560.74	442.07	1,073.38	900.21	2,095.25
$\overline{7}$	Profit before tax (5-6)
8	Tax expense	512.64	560.74	442.07	1,073.38	900.21	2,095.25
	Current tax	154.77	229.48	66.89	384.25
	Deferred tax	$-403.80$	$-417.88$	$-62.66$	$-821.68$	235.45$-167.91$	772.73$-824.27$
	Total tax expense	$-249.03$	$-188.40$	4.23	$-437.43$	67.55	$-51.54$
$\overline{Q}$	Profit for the period (7-8)	761.67	749.14	437.84	1,510.81	832.66	2,146.79
10	Other comprehensive income
	Items that will be reclassified to profit or loss:
	a) Foreign exchange gain/loss on monetary items
	included in Net Investment in a foreign subsidiary	$-110.63$	$-33.45$	98.67	$-144.08$	132.13	$-108.92$
	b) Income tax relating to these items			7.76		10.98
	Items that will not be reclassified to profit or loss:
	a) Remeasurement of defined benefits plan	$-79.39$	18.99	47.10	$-60.40$	44.32	48.85
	b) Income tax relating to these items	28.09	$-6.80$	$-16.59$	21.29	$-15.55$	$-19.11$
	Other Comprehensive income for the period (net	$-161.93$	$-21.26$	136.94	$-183.19$	171.89	$-79.18$
	of taxes)
$\mathbf{1}$	Total comprehensive income for the period $(9+10)$	599.74	727.88	574.78	1,327.62	1,004.55	2,067.61
12	Non-controlling Interests	$-0.23$	$-1.04$	$-3.97$	$-1.27$	$-7.76$	$-11.51$
13	Total comprehensive income attributable toowners (11-12)	599.97	728.92	578.75	1,328.89	1,012.31	2,079.12
14	Paid-up equity share capital (face value of Rs. 10 pershare)	733.18	733.18	733.00	733.18	733.00	733.13
15	Reserves i.e. Other equity	12,835.49	12,402.41	10,668.10	12,835.49	10,668.10	11,765.80
16	Earnings Per Share (EPS) (of Rs.10/- each)	(not)annualized)	(not)annualized)	(notannualized)	(not)annualized)	(not)annualized)	(Annualized)
	(a) Basic $(Rs)$	10.39	10.23	5.98	20.62	11.38	29.48
	$(b)$ Diluted $(Rs)$	10.23	10.07	5.89	20.29	11.19	29.01

Please see the accompanying notes to the financial results

$\tilde{\boldsymbol{\sigma}}$

	Security and Intelligence Services (India) Limited
	Registered office : Annapoorna Bhawan, Telephone Exchange Road, Kurji, Patna - 800010
	CIN: L75230BR1985PLC002083
	Statement of unaudited consolidated Assets and Liabilities as at September 30, 2019
			(Rupees in million)
	Particulars	September 30,	March 31, 2019
		2019
		(Unaudited)	(Audited)
A	ASSETS
	Non-Current Assets
	Property, Plant and Equipment	2.663.13	1,742.07
	Capital work-in-progressGoodwill	16.53	9.81
		12,400.39	12,284.35
	Other Intangible Assets	1,730.56	1,718.87
	Intangible assets under Development	90.79	75.30
	Investments in associates and Joint ventures	543.94	538.41
	Financial Assets
	(i) Investments	364.77	607.42
	(ii) Other non-current financial assets	586.29	636.68
	Deferred tax assets (net)	3,086.25	2,049.55
	Income tax Assets	1,475.23	1,347.43
	Other Non - Current Assets	109.43	96.49
	Total Non - Current Assets	23,067.31	21,106.38
	Current Assets
	Inventories	291.83	253.61
	Financial Assets
	(i)Investments	23.96	68.21
	(ii) Trade Receivables	10,273.47	9,529.61
	(iii) Cash and Cash Equivalents	3,223.96	4,197.33
	(iv) Bank Balances other than in (iii) above	1,604.64	1,231.46
	(v) Others	6,115.33	4,951.89
	Other Current Assets	1,217.60	903.51
	Assets classified as held for distribution to shareholders of subsidiaries	1.15	1.15
	Total Current Assets	22,751.94	21,136.77
	Total Assets	45,819.25	42,243.15

B	EQUITY AND LIABILITIES
	Equity
	Equity share capital	733.18	733.13
	Other Equity	12,835.49	11,765.80
	Equity attributable to owners	13,568.67	12,498.93
	Non-Controlling Interests
	Total Equity	1.91	3.45
	Liabilities	13,570.58	12,502.38
	Non - Current Liabilities
	Financial Liabilities
	(i) Borrowings
	(ii) Other Financial Liabilities	6,455.02	6,141.60
	Provisions	8,131.05	7,760.19
	Deferred tax liabilities	1,356.21	1,193.89
		517.91	350.81
	Total Non- Current liabilities	16,460.19	15,446.49
	Current LiabilitiesFinancial Liabilities

	(i) Borrowings	4,702.72	3,355.99
	(ii) Trade Payables
	a)Total outstanding dues of micro enterprises and small enterprises	19.02	13.57
	b)Total outstanding dues of creditors other than micro enterprises and small enterprises	487.86	647.85
	(iii) Others	6,803.13	6,344.29
	Other Current Liabilities	1,279.00	1,345.17
	Income tax liabilities		173.00
	Provisions	2,494.89	2412.55
	Liabilities classified as held for distribution to shareholders of subsidiaries	1.86	1.86
	Total Current Liabilities	15,788.48	14294.28
	Total Liabilities	32,248.67	29,740.77
	Total Equity and Liabilities	45,819.25	42,243.15

Security and Intelligence Services (India) Limited
	Registered office : Annapoorna Bhawan, Telephone Exchange Road, Kurji, Patna - 800010
	CIN: L75230BR1985PLC002083
	Consolidated statement of Cash flows for the six months ended September 30, 2019
			(Rupees in million)
	Particulars	September 30	September 30,
		2019	2018
		(Unaudited)	(Unaudited)
A	CASH FLOWS FROM OPERATING ACTIVITIES
	Profit before tax	1,073.38	900.21
	Adjusted for:
	Depreciation and Amortization expenses	619.86	292.12
	Unrealised Foreign exchange (gain) / loss	107.14	1.96
	Net (gain) /loss on sale of property, plant and equipment	$-9.20$	$-4.05$
	Finance costs	748.53	352.79
	Interest income classified as investing cash flows	$-78.92$	$-103.09$
	Provision for doubtful debts	61.40	34.13
	Employee stock option compensation expenseOther non-cash items	21.22	42.40
		75.49	89.26
	Operating profit/(loss) before changes in working capitalChanges in working capital:	2,618.90	1,605.73
	Decrease / (increase) in Trade receivables
	Decrease / (increase) in Inventories	$-900.38$	$-1,402.25$
	Decrease / (increase) in other current assets	4.36$-292.10$	$-31.96$$-997.44$
	Decrease / (increase) in other current financial assets	$-1,188.49$	$-416.75$
	(Decrease) / increase in Trade payables	$-243.10$	22.56
	(Decrease) / increase in provisions	263.41	202.13
	(Decrease) / increase in other current liabilities	$-22.06$	$-195.97$
	(Decrease) / increase in other current financial liabilities	222.40	342.50
		462.94	$-871.45$
	Decrease / (increase) in other non-current assets	9.77	$-8.72$
	Decrease / (increase) in other non-current financial assets	15.27	109.06
	(Decrease) / increase in other non-current financial liabilities	$-19.34$	$-57.11$
	Cash (used in) /generated from operations	468.64	$-828.22$
	Direct tax paid including fringe benefit tax (net of refunds)	$-619.30$	$-595.81$
	Net cash inflow / (outflow) from operating activities	$-150.66$	$-1,424.03$

B	CASH FLOWS FROM INVESTING ACTIVITIES
	Purchase of property plant and equipment and changes in capitalwork in progress	$-419.42$	$-436.08$
	Proceeds from sale/disposal of property, plant and equipment
	Proceeds from sale of Investments	16.1044.26	13.65
	Investments made	$-1,139.00$
	(Investment) in / matured fixed deposits (net)	130.24	$-652.56$50.53
	Restricted balances	$-462.98$	267.06
	Interest received	48.63	117.60
	Net cash inflow / (outflow) from investing activities	$-1,782.17$	$-639.80$

$\mathsf{C}$	CASH FLOWS FROM FINANCING ACTIVITIES
	Proceeds from issue of share capital (net of share issue expenses)	0.01	0.11
	Foreign exchange gain / (loss) realized	$-1.84$
	Proceeds from term loans	608.52	182.55
	Repayment of term loans	$-171.20$	$-1,746.57$
	Change in loans repayable on demand	511.25	388.59
	Bonds/debentures issued / (repaid/redeemed)		1,500.00
	Interest paid	$-539.53$	$-313.94$
	Dividends paid to Company's shareholders	$-256.85$	$-109.42$
	Changes in lease liability	$-140.52$
	Net cash inflow / (outflow) from financing activities	9.84	$-98.68$

D	Net increase / (decrease) in cash and cash equivalents $(A+B+C)$	$-1,922.99$	$-2,162.51$
E	Cash and cash equivalents at the beginning of the period	2,070.78	3,645.87
F	Exchange difference on opening cash and cash equivalents	$-68.10$	166.45
G	Cash balances added on acquisition	41.16	$-492.22$
H	Effects of exchange rate changes on cash and cash equivalents	45.70	$-22.51$
	Cash and cash equivalents at the end of the period $(D+E+F+G+H)$	166.55	1.135.08

$\bar{z}$

Notes to the consolidated financial results:

The Statement of unaudited consolidated financial results ("the Statement") of Security and Intelligence Services (India) Ltd $\overline{1}$ (the "Parent" or "Company") including its subsidiaries (collectively known as the "Group"), its associates and its jointly controlled entities for the quarter and six months ended September 30, 2019 have been reviewed by the Audit Committee and, thereafter, approved by the Board of Directors at its meeting held on October 24, 2019.
The consolidated results have been prepared in accordance with the principles and procedures of Indian Accounting Standards $\overline{2}$ . ("Ind AS") as notified under the Companies (Indian Accounting Standards) Rules, 2015 as prescribed in Section 133 of the Companies Act, 2013 read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 and other recognized accounting practices and policies.
Effective May 1, 2019, the Company acquired an additional 50% of the voting rights and shares, in addition to the 50% $31$ already held, directly and indirectly, in SIS Alarm Monitoring & Response Services Private Limited (formerly known as SIS Prosegur Alarm Monitoring & Response Services Private Limited) ("Alarms") for an aggregate consideration of INR 200 million. Alarms was formerly a jointly controlled entity and, as a result, has now become a wholly owned subsidiary of the Group.
During the quarter, the Company acquired all of the remaining shareholding of 6.94% in Dusters Total Solutions Services $4.$ Private Limited ("DTSS"), a subsidiary of the Company, for an aggregate consideration of INR 525.95 million which resulted in DTSS becoming a wholly owned subsidiary of the Company.
1. Effective July 1, 2019, the Company, through its indirect subsidiary, acquired 100% of the outstanding equity shares of Triton Security Services Limited along with its subsidiary, The Alarm Centre Limited, New Zealand for an aggregate consideration of NZD $5.58 Mn.
Effective April 1, 2019, the Group adopted Ind AS 116 "Leases", using the modified retrospective method and has taken the 6. cumulative adjustment to retained earnings, on the date of initial application. Accordingly, the comparatives have not been retrospectively adjusted. On transition, the adoption of the new standard resulted in recognition of Right of use asset ('RoU') of INR 868.73 million and a lease liability of INR 1,035.79 million. The cumulative effect of applying the standard resulted in INR 71.14 million being debited to retained earnings, net of taxes. The effect of this adoption is not significant on the profit for the period and earnings per share.

For and on behalf of the Board of Directors of Security and Intelligence Services (India) Limited

ce Ser Rituraj Kishore Sinha Managing Director

Place: New Delhi Date: October 24, 2019

Security and Intelligence Services (India) Limited

Registered office : Annapoorna Bhawan, Telephone Exchange Road, Kurji, Patna - 800010

CIN: L75230BR1985PLC002083

Part 1- Statement of unaudited consolidated financial results for the quarter and six months ended September 30, 2019

	(Rupees in millions)
		Quarter ended			6 months ended	Year ended
Particulars	September 30,	June 30,	September 30,	September 30,	September 30,	March 31.
	2019	2019	2018	2019	2018	2019
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
Segment revenue
Security services - India	8.759.17	8.083.66	6,298.94	16,842.83	11,948.49	26,962.71
Security services - Australia	9,033.84	9,133.95	8,438.87	18,167.79	16,936.29	34,580.81
Facilities management	3.138.54	2,897.44	2,212.61	6,035.98	4,210.25	9,483.19
Less: Inter-segment elimination	$-42.97$	$-31.10$	$-48.33$	$-74.07$	$-79.18$	$-93.98$
Total revenue from operations	20,888.58	20,083.95	16,902.10	40,972.53	33,015.85	70,932.73
Segment EBITDA
Security services - India	537.95	530.48	317.57	1.068.43	592.23	1,514.10
Security services - Australia	489.94	536.51	309.34	1,026.45	652.64	1,520.72
Facilities management	209.13	180.91	155.72	390.04	282.28	639.90
Less: Inter-segment elimination	$-0.20$	$-0.52$	$-0.93$	$-0.72$	$-0.93$	$-23.13$
Total EBITDA	1,236.82	1,247.38	781.70	2,484.20	1.526.22	3,651.59
Share of net profit / (loss) from associates	0.40	$-23.24$	$-46.23$	$-22.84$	$-89.26$	$-135.39$
Other income and gains	30.19	35.46	50.66	65.65	105.66	219.20
Other gains / (losses) and effect of entries
resulting from consolidation and business	$-204.62$	$-209.34$	$-63.52$	$-413.96$	$-110.16$	$-505.87$
combination accountingFinance costs	$-282.01$
		$-252.86$	$-146.84$	$-534.87$	$-286.41$	$-615.07$
Depreciation	$-268.14$	$-236.66$	$-133.70$	$-504.80$	$-245.84$	$-519.06$
Unallocated corporate expenses						$-0.15$
Exceptional items
Total profit before tax	512.64	560.74	442.07	1,073.38	900.21	2,095.25

	As at	As at	As at	As at	As at	As at
	September 30,2019	June 30,2019	September 30,2018	September 30,2019	September 30,2018	March 31, 2019
Segment assets	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
Security services - India	20,012.26	19,902.42	13,949.25	20.012.26	13.949.25	17,285.35
Security services - Australia	20,193.28	19,757.60	12,626.99	20,193.28	12,626.99	19,721.44
Facilities management	5,613.36	5.924.21	4,314.48	5.613.36	4,314.48	5,235.63
Unallocated	0.35	1.65	512.35	0.35	512.35	0.73
Total	45,819.25	45,585.88	31,403.07	45,819.25	31,403.07	42,243.15
Segment liabilities
Security services - India	12,224.31	12,282.44	8,448.78	12,224.31	8,448.78	10,936.36
Security services - Australia	16.721.85	16,329.92	8,907.39	16,721.85	8,907.39	15,564.67
Facilities management	3,302.47	3,834.33	2,639.80	3,302.47	2,639.80	3,239.70
Unallocated	0.04	1.48	0.07	0.04	0.07	0.04
Total	32,248.67	32,448.17	19,996.04	32,248.67	19,996.04	29,740.77

The Group is currently focused on three business groups, viz., Security Services (India), Security Services (International) and Facility Management. The Group's organizational structure and governance processes are designed to support effective management of multiple businesses while retaining focus on each one of them. The Operating Segments have been reported in a manner consistent with the internal reporting provided to the Group Management Committee, which is the Chief Operating Decision Maker.

$\overline{\phantom{a}}$

The business groups comprise the following:

Security Services (India) Guarding, Electronic security and home alarm monitoring and response services $\vec{\mathbf{u}}$
Security Services (International) Guarding, Mobile patrols, Emergency medical response and rescue, Loss prevention and allied $\bar{\mathbf{u}}$ services
Facilities Management Housekeeping, Cleaning, Facility operation & management and Pest control services

For and on behalf of the Board of Directors of Security and Intelligence Services (India) Limited

e Serv Rituraj Kishore Sinha Ç, Managing Director $\overline{\phantom{a}}$ Place: New Delhi

603-604. New Delhi House 27. Barakhamba Road New Delhi-110 001 Phone: 011-43044999 E-mail: [email protected] Website: www.saxenaandsaxena.com

Independent Auditor's Review Report on the Standalone Quarterly and half yearly Financial Results of Security and Intelligence Services (India) Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

T0 The Board of Directors of Security and Intelligence Services (India) Limited

We have reviewed the accompanying statement of unaudited standalone financial results ("Statement") of Security and Intelligence Services (India) Limited ("the "Company"), for the quarter and six months ended September 30, 2019 attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. Attention is drawn to the fact that the standalone cash flow statement for the corresponding period from April 01, 2018 to September 30, 2018, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review.

This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors at its meeting held on October 24, 2019. This statement has been compiled from the related unaudited interim standalone financial statements which has been prepared in accordance with Indian Accounting Standard 34, "Interim Financial Reporting" prescribed under Section 133 of Companies Act, 2013, read with relevant rules issued thereunder ("Ind AS") and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial results based on our review.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Saxena & Saxena Chartered Accountants (Firm Regn. No.006103N)

(Partner) 19082118 AAAAGA2346 Membership No. 82118 UDIN:

Place: New Delhi Date: October 24, 2019

	Security and Intelligence Services (India) Limited
Registered office : Annapoorna Bhawan, Telephone Exchange Road, Kurji, Patna - 800010
			CIN: L75230BR1985PLC002083
	Statement of unaudited standalone financial results for the quarter and six months ended September 30, 2019
SI.	Particulars					(Rupees in million except per share data)
No.			Quarter ended		Six months ended		Year ended
		September	June 30,	September	September	September	March 31.
		30, 2019	2019	30, 2018	30, 2019	30, 2018	2019
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	Income
	Revenue from Operationsa)	7,471.55	6,884.86	6.044.99	14,356.41	11,682.24	25,035.17
	Other Incomeb)	157.50	26.56	26.59	184.06	54.59	209.44
	Other Gain/loss$\mathcal{C}$ )	3.70	2.08	$-1.38$	5.78	0.47	5.44
	Total Income $(a + b + c)$	7,632.75	6,913.50	6,070.20	14,546.25	11,737.29	25,250.05
	Expenses
	Purchasesa)	13.19	9.93	108.85	23.12	169.69	402.63
	Change in inventory of stock-in-tradeb)	86.79	65.41	$-26.71$	152.20	$-26.33$	$-70.71$
$\overline{2}$	Employee benefits expensec)	6,471.73	6,006.80	5,319.18	12,478.53	10,316.68	22,007.91
	Finance costsd)	192.95	161.48	106.48	354.43	199.11	475.43
	Depreciation and amortization expense$\epsilon$ )	138.26	119.26	69.69	257.52	127.02	295.10
	f)Other expenses	425.57	323.86	315.26	749.43	610.21	1,262.19
	Total expenses $(a + b + c + d + e + f)$	7,328.49	6,686.74	5,892.75	14,015.23	11,396.38	24,372.55
3	Profit before tax and exceptional items (1-2)	304.26	226.76	177.45	531.02	340.91	877.50
$\overline{4}$	Exceptional items
5	Profit before tax (3-4)	304.26	226.76	177.45	531.02	340.91	877.50
6	Tax expense
	Current tax	35.98	56.21	6.81	92.19	15.91	223.09
	Deferred tax	$-286.46$	$-307.58$	$-66.78$	$-594.04$	$-108.95$	$-538.20$
	Total Tax expense	$-250.48$	$-251.37$	$-59.97$	$-501.85$	$-93.04$	$-315.11$
$7\phantom{.0}$	Profit for the period (5-6)	554.74	478.13	237.42	1,032.87	433.95	1,192.61
8	Other comprehensive income
	Items that will not be reclassified to profit or loss
	a) Remeasurement of Defined benefits plan	$-72.40$	24.58	39.77	$-47.82$	39.11	98.31
	b) Income tax relating to these items	25.30	$-8.59$	$-13.90$	16.71	$-13.67$	$-34.35$
	Other comprehensive income for the period (net	$-47.10$
	of taxes)		.15.99	25.87	$-31.11$	25.44	63.96
9	Total comprehensive income for the period
	$(7+8)$	507.64	494.12	263.29	1,001.76	459.39	1,256.57
	Paid-up equity share capital
10	(face value of Rs. 10 per share)	733.18	733.18	733.00	733.18	733.00	733.13
11	Reserves i.e. Other equity	7,302.54	7,040.96	5,723.70	7,302.54	5,723.70	6,550.97
12	Earnings Per Share (EPS) (of Rs. 10/- each)	(not)	$($ not	(not)	$($ not	$($ not
		annualized)	annualized)	annualized)	annualized)	annualized)	(Annualized)
	Basic (Rs)(a)	7.57	6.52	3.24	14.09	5.93	16.28
	Diluted (Rs)(b)	7.45	6.42	3.19	13.86	5.83	16.02

Please see the accompanying notes to the financial results

Security and Intelligence Services (India) LimitedRegistered office : Annapoorna Bhawan, Telephone Exchange Road, Kurji, Patna – 800010
CIN: L75230BR1985PLC002083
Statement of unaudited standalone Assets and Liabilities as at September 30, 2019
Particulars		(Rupees in million)
	September 30, 2019	March 31, 2019
	(Unaudited)	(Audited)
ASSETSA
Non-Current Assets
Property, Plant and Equipment	1.312.29	1,022.01
Capital work-in-progress	12.22	9.46
Other Intangible Assets	11.34	16.15
Intangible assets under DevelopmentFinancial Assets	33.32	20.77
(i) Investments	4,647.86	3,848.76
(ii) Others	642.74	712.00
Deferred tax assets (net)	1,837.68	1,216.61
Income tax Assets	991.76	944.77
Other Non - Current Assets	14.90	16.38
Total Non - Current Assets	9,504.11	7,806.91
Current Assets
Inventories	166.31	162.13
Financial Assets
(i) Trade Receivables	3,741.44	3,473.77
(ii) Cash and Cash Equivalents	681.17	573.31
(iii) Bank Balances other than in (ii) above	599.83	736.50
(iv) Other financial assets	2,706.98	2,079.31
Other Current Assets	687.95	655.89
Total Current Assets	8,583.68	7,680.91
Total Assets	18,087.79	15,487.82

BEQUITY AND LIABILITIESEquity
Equity share capital	733.18	733.13
Other Equity	7,302.54	6,550.97
Total Equity	8,035.72	7,284.10
Liabilities
Non - Current Liabilities
Financial Liabilities
(i)Borrowings	2,659.34	2.645.41
(ii) Other Financial Liabilities	328.53	26.59
Provisions	492.19	390.72
Total Non- Current liabilities	3,480.06	3,062.72
Current Liabilities
Financial Liabilities
Borrowings(i)	3,231.90	2,082.85
(ii)Trade Payables
a.Total outstanding dues of micro enterprises and small enterprisesTotal outstanding dues of creditors other than micro enterprises and small enterprisesb.	1.10149.46	0.18155.15
(iii) Others	2,436.76	2,110.24
Other Current Liabilities	682.44	742.95
Provisions	70.35	49.63
Total Current Liabilities	6,572.01	5,141.00
Total Liabilities	10,052.07	8,203.72
Total Equity and Liabilities	18,087.79	15,487.82

Security and Intelligence Services (India) Limited
	Registered office : Annapoorna Bhawan, Telephone Exchange Road, Kurji, Patna - 800010
	CIN: L75230BR1985PLC002083Standalone statement of Cash flows for the six months ended September 30, 2019
			(Rupees in million)
		September 30,	September 30,
	Particulars	2019	2018
		(Unaudited)	(Unaudited)
А	CASH FLOWS FROM OPERATING ACTIVITIES
	Profit before tax	531.02	340.92
	Adjusted for:
	Depreciation and Amortization expenses	257.52	127.02
	Unrealised Foreign exchange (gain) / loss	$-1.86$	1.80
	Net (gain) /loss on sale of property, plant and equipmentFinance costs	$-3.92$	$-0.60$
	Interest income classified as investing cash flows	354.43$-62.15$	199.11$-51.96$
	Provision for doubtful debts	$-121.90$	$-1.49$
	Employee stock option compensation expense	40.41	30.31
	Other non-cash items	21.22	34.40
	Operating profit/(loss) before changes in working capital	1,014.77	679.51
	Changes in working capital:
	Decrease / (increase) in Trade receivables	$-308.09$	$-589.69$
	Decrease / (increase) in Inventories	$-4.18$	$-26.33$
	Decrease / (increase) in other current assets	$-71.68$	$-704.73$
	Decrease / (increase) in other current financial assets	$-611.03$	$-173.78$
	(Decrease) / increase in Trade payables(Decrease) / increase in provisions	$-4.76$	$-49.89$
	(Decrease) / increase in other current liabilities	74.38$-31.37$	72.4348.85
	(Decrease) / increase in other current financial liabilities	285.82	182.88
		343.86	$-560.75$
	Decrease / (increase) in other non-current assets	0.02	0.02
	Decrease / (increase) in other non-current financial assets	$-13.86$
	(Decrease) / increase in other non-current financial liabilities		$-3.80$
	Cash (used in) /generated from operations	330.02	$-564.53$
	Direct tax paid including fringe benefit tax (net of refunds)	$-139.18$	$-215.07$
	Net cash inflow / (outflow) from operating activities	190.84	$-779.60$

B	CASH FLOWS FROM INVESTING ACTIVITIES
	Purchase of property plant and equipment and changes in capitalwork in progress	$-142.73$	$-265.98$
	Proceeds from sale/disposal of property, plant and equipment	6.15	8.57
	Investment in Subsidiary	$-726.45$	$-656.82$
	Purchase of other non-current investments	$-69.00$	$-25.00$
	(Investment) in / matured fixed deposits (net)	162.14	64.16
	Restricted balances	60.00
	Interest received	53.68	37.15
	Dividend received	121.90	2.10
	Net cash inflow / (outflow) from investing activities	$-534.31$	$-835.82$

$\mathsf{C}$	CASH FLOWS FROM FINANCING ACTIVITIESProceeds from issue of share capital (net of share issue expenses)
	Proceeds from term loans	0.01105.29	0.1193.55
	Repayment of term loans	$-96.71$	$-104.42$
	Change in loans repayable on demand	408.80	400.00
	Bonds/debentures issued / (repaid/redeemed)		1500.00
	Interest paid	$-393.15$	$-144.76$
	Dividends paid to Company's shareholders	$-256.40$	$-109.43$
	Changes in lease liability	$-56.78$
	Net cash inflow / (outflow) from financing activities	$-288.94$	1,635.05

D	Net increase / (decrease) in cash and cash equivalents $(A+B+C)$	$-632.41$	19.63
EF	Cash and cash equivalents at the beginning of the period	573.31	708.00
	Cash credit at the beginning of the period	$-1,141.65$	$-660.74$
	Cash and cash equivalents at the end of the period $(D+E+F)$	$-1,200.75$	66.89

$\ddot{\phantom{a}}$

$\bar{\epsilon}$

Notes to the standalone financial results:

The Statement of unaudited standalone financial results ("the Statement") of the Company for the quarter and six months ended September 30, 2019 has been reviewed by the Audit Committee and, thereafter, approved by the Board of Directors at its meeting held on October 24, 2019.
The standalone results have been prepared in accordance with the principles and procedures of Indian Accounting Standards $\overline{2}$ . ("Ind AS") as notified under the Companies (Indian Accounting Standards) Rules, 2015 as prescribed in Section 133 of the Companies Act, 2013 read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 and other recognized accounting practices and policies.
$\mathcal{Z}$ Effective May 1, 2019, the Company acquired an additional 50% of the voting rights and shares, in addition to the 50% already held, directly and indirectly, in SIS Alarm Monitoring & Response Services Private Limited (formerly known as SIS Prosegur Alarm Monitoring & Response Services Private Limited) ("Alarms") for an aggregate consideration of INR 200 million. Alarms was formerly a jointly controlled entity and, as a result, has now become a wholly owned subsidiary of the Group.
$\overline{4}$ During the quarter, the Company acquired all of the remaining shareholding of 6.94% in Dusters Total Solutions Services Private Limited ("DTSS"), a subsidiary of the Company, for an aggregate consideration of INR 525.95 million which resulted in DTSS becoming a wholly owned subsidiary of the Company.
$\sim$ Effective April 1, 2019, the Company adopted Ind AS 116 "Leases", using the modified retrospective method and has taken the cumulative adjustment to retained earnings, on the date of initial application. Accordingly, the comparatives have not been retrospectively adjusted. On transition, the adoption of the new standard resulted in recognition of Right of use asset ('RoU') of INR 326.90 million and a lease liability of INR 376.20 million. The cumulative effect of applying the standard resulted in INR 19.23 million being debited to retained earnings, net of taxes. The effect of this adoption is not significant on the profit for the period and earnings per share.

6. Disclosure under Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for
six months ended September 30, 2019:

Particulars		Details
a)	credit rating in respect of above mentioned NCD by ICRA.
	We confirm there is no change in the credit rating as of	$A+$
	date.
b)	asset cover available	3.3 times
$\circ$ )	debt-equity ratio*	$0.76 ;$ times
$\mathrm{d}$	previous due date for the payment of interest / repayment	Interest of INR 143.28 Mn due on April
	of principal of non-convertible debt securities and whether	15, 2019 and paid on April 15, 2019
	the same has been paid or not; and,
e)	next due date for the payment of interest/ principal along	April 13, 2020 is the next due date for
	with the amount of interest payable and the redemption	interest payment of INR 142.11 Mn and
	amount	April 13, 2021 is the due date for
		redemption of the debentures
f)	debt service coverage ratio ** (Annualised)	$1.62 \text{ times}$
g)	interest service coverage ratio*** (Annualised)	2.07 times
h)	Debenture redemption reserve	INR 187.50 Mn
i)	net worth	INR 8,035.72 Mn
j)	net profit after tax	INR 1,032.87 Mn
$\mathbf{k}$	earnings per share (Basic)	INR 14.09 per share

* Total debt / Equity

** Profit before Interest and taxes / total debt service (i.e. interest expense plus principal amounts due within next 12 months) ***Profit before interest and exceptional items / Interest expense

In accordance with Ind-AS 108, Operating segments, segment information has been provided in the unaudited consolidated financial results of the Company and, therefore, no separate disclosure on segment information is given in these standalone unaudited financial results.

For and on behalf of the Board of Directors of Security and Intelligence Services (India) Limited

Rituraj Kishore Sinha

Managing Director

Place: New Delhi Date: October 24, 2019

AI assistant

SIS LIMITED Board/Management Information 2019

60900_rns_2019-10-24_0cdc471c-01d8-4dbe-a1f0-5fcb6c0ca79c.pdf

Sub.: Outcome of the Board meeting held on October 24, 2019

All 4 business verticals maintain momentum to deliver 63% YoY growth. With 248 crs EBITDA in H1 FY20, a standout performance amidst trying macro environment.

Key Consolidated Financials at a Glance: