The security industry in India has picked up steam in recent years with the rise in crime rates and thus the need for increased security measures. Dhiraj Singh, the Group CEO at SIS India-SIS Group Enterprises, recently spoke to CNBC-TV18 about the growth of India’s security industry. According to Singh, India’s security growth has increased by 20 percent year on year, which is a positive sign for the industry.
“India security business has grown 20 percent year-on-year (YoY) which is a phenomenal comeback,” he said. Singh also discussed the recent quarter-on-quarter (QoQ) margin improvement in facility management and security solutionS business in India.
“The cash business and the facility management business have grown by more than 35 percent YoY basis. The main business of security and facility management, the absolute EBITDA growth has been more than 28 percent. On the margin front, there has been improvement. Facility management was down in quarter three at about 4 percent, it has bounced back to 4.4 percent and the security business continues to inch upwards even in the margin percentage from 4.9 percent to 5 percent,” he added.
This improvement indicates that the industry is moving in the right direction and that businesses are adopting better strategies to improve their margins.
Furthermore, Singh revealed that the goal of SIS India-SIS Group Enterprises is to reach the pre-COVID margin of 5.5-6 percent for the India security solutions business by Q4 of FY24.
