Security and Intelligence Services (India) Limited was incorporated as a private limited company with the name Security and Intelligence Services (Eastern India) Private Limited' on January 2, 1985. I
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n order to effectively expand its operations at the national level, the words Eastern India' were removed from company name in 1992, and the name of the company was changed to Security and Intelligence Services (India) Private Limited' on May 27, 1992. Subsequently, the Company converted into a public limited company and the name was changed to Security and Intelligence Services (India) Limited' on July 29, 1993.
The Company has a portfolio in Private Security, Facility Management and Cash Logistics Services. The Company is directly and indirectly engaged in rendering security and related services consisting of manned guarding, training, and indirectly engaged in paramedic and emergency response services; loss prevention, asset protection and mobile patrols; facility management services consisting of cleaning, housekeeping and pest control management services in the areas of facility management; cash logistics services consisting of cash-in-transit, ATM cash replenishment activities and secure transportation of precious items and bullion; and alarm monitoring and response services consisting of trading and installation of electronic security devices and systems through its subsidiaries, joint ventures and associates.
In 2005, company-wide implementation of ISO 9001 was initiated. During the year under review, the company entered into cash logistics services segment.
In 2006, Version 1 of SIS ERP was rolled out. During the year under review, the company crossed the 10,000-employee mark.
In 2008, D. E. Shaw Composite Investments (Mauritius) Limited, PCC made investment into the company. During the year under review, the company launched mechanized cleaning services. During the year under review, credit rating agency CRISIL awarded SME 1' rating to the company. During the year under review, the company acquired MSS Security from Chubb Security Australia Pty. Limited for AUD 45 million.
In 2011, the company entered into a joint venture with Prosegur Spain for cash logistics business. During the year under review, the company entered into a joint venture with Terminix US for entry into pest control business. In 2013, D. E. Shaw sold its entire investment in the company. During the year under review, CX Partners (Theano and AAJV) made investment into the company. During the financial year ended 31 March 2013, the company crossed Rs 2500 crore in-consolidated revenue. In December 2014, the company acquired the cash logistics business of ISS SDB Security Services Private Limited.
In 2015, the number of employees of the company crossed 1 lakh. During the year under review, the company became India's second largest operator in cash logistics business segment, in terms of total revenue and number of employees, according to Frost & Sullivan. During the financial year ended 31 March 2015, the company crossed Rs 3500 crore in consolidated revenue.
In 2016, the company's subsidiary MSS Security was recognised for operating a quality management system for security manpower services at contracted locations across Australia and was certified to be in compliance with the requirements of ISO 9001:2008. During the year under review, the company acquired 78.72% of the outstanding equity shares of Dusters Total Solutions Services Private Limited (Dusters), with the agreement to increase its shareholding to 100% over the next three years (pursuant to which it acquired a further 7.2% of the outstanding equity of Dusters on 31 July 2017). Dusters are the fourth largest facility management services provider in India, in terms of revenues, as of 31 March 2016, according to Frost & Sullivan.
In 2017, the company through its indirect subsidiary SIS Australia Group acquired 51% of the voting rights in Andwills Pty Ltd which resulted in acquisition of additional 41% of voting rights in Southern Cross Protection Pty. Ltd. (SXP) (one of the former associates of the company), thereby resulting in Andwills Pty Ltd., SX Protective Services Pty Ltd., SXP and subsidiaries of SXP becoming subsidiaries of the company.
The company came out with an initial public offer (IPO) during the period from 31 July 2017 to 2 August 2017. The IPO was a combination of fresh issue of Rs 362.25 crore and offer for sale of 51.2 lakh equity shares by the selling shareholders. The stock debuted at Rs 875 on BSE on 10 August 2017, a premium of 7.36% compared with the IPO price of Rs 815 per share.
On 2 August 2018, Security and Intelligence Services (India) Limited (SIS) announced a strategic partnership with SLV Security Services (SLV), headquartered in Gurgaon, whereby it would take a 51% stake in SLV. This is the first strategic transaction for SIS since its IPO. Founded by Mr. Vishal Swara and Mr. Shyam Swara, SLV was incorporated in 1986. SLV provides security services, electronic surveillance, event security/management and security consulting services. The business currently generates over Rs240 crores in revenues with a majority of the revenues coming from the NCR region. The company has over 650 customers and operates 1,575 sites. Through this strategic partnership, the SIS - SLV combine shall secure the highest market share in Gurgaon - NCR market. The SLV partnership is also expected to offer valuable synergies in targeting the residential market in Gurgaon.
On 4 October 2018, Security and Intelligence Services (India) Limited (SIS) announced that it has been awarded a three year contract valued at approximately Rs. 300 crores to provide security solutions to 47 facilities of Cognizant Technologies located across India. As part of the contract, SIS will deploy around 5,000 security personnel in different categories to provide security services across 47 sites of Cognizant at Chennai, Bangalore, Kochi, Coimbatore, Pune, Mumbai and Kolkata.
On 17 October 2018, Security and Intelligence Services (India) Limited (SIS) signed definitive agreements to acquire initially 80% shareholding in Rare Hospitality and Services Private Limited (Rare). Rare provides facility management services. The acquisition would help SIS increase market share in the facility management services and also increase its presence in the Western region. Rare is a strong player in the healthcare segment and post-acquisition, SIS + Rare will be a dominant player in the healthcare segment which is poised to be a high growth industry with increasing focus on healthcare by private and government institutions.
As on March 31, 2019, the Company has 38 subsidiaries 3 associates and 2 Joint Ventures.
In March 2019, the Company acquired the majority shareholding in Henderson Group and P4G businesses and extended the international businesses to Singapore and New Zealand.
On April 24, 2019, the Company has acquired 50% shareholding in SIS Prosegur Alarm Monitoring and Response Services Private Limited (SPAMRS) from Singpai Alarms Private Limited, in addition to the existing 50% shareholding held by it directly and indirectly. This acquisition would result in SPAMRS becoming a 100% subsidiary of the Company effective this date.
During the year September 1, 2018, the Company acquired 51% of the outstanding equity shares of SLV Security Services Private Limited.
During the year November 1, 2018, the Company acquired 80% of the outstanding equity shares of Rare Hospitality and Services Private Limited.Effective February 1, 2019, the Company acquired 51% of the outstanding equity of shares of Uniq Detective and Security Services Private Limited.
Effective the close of business on February 28, 2019, the Company, through its wholly owned subsidiary, acquired 60% of the outstanding equity shares of SIS Henderson Holdings Pte. Ltd.
Effective the close of business on February 28, 2019, the Company, through its wholly owned subsidiary, acquired 51% of the outstanding equity shares of Platform 4 Group Limited.
In FY 2019-20, the Company acquired e stake held by Prosegur in April 2019. In July 2019. it acquired Triton Security Solutions Ltd., in New Zealand market. Effective July 30, 2019, the Company acquired the remaining shareholding of 6.94% in Dusters Total Solutions Services
Private Limited (DTSS), a subsidiary of the Company, which resulted in DTSS becoming a wholly owned subsidiary of the Company. Effective February 1, 2020, the Company, through DTSS, its wholly owned subsidiary, acquired 51% of the outstanding equity shares of Adis Enterprises Private Limited (AEPL). Effective February 10, 2020, the Company acquired an additional shareholding of 39.01% in SLV Security Services Private Limited (SLV), a subsidiary of the Company, which now holds 90.01% stake in SLV as at March 31, 2020.
During the year 2020-21, Company acquired the remaining 49% stake in Southern Cross Protection (SXP) and became wholly owned subsidiaries of the Company. It acquired 100% share capital of SLV. It entered into a Business Transfer Agreement with SIS Group Enterprises Limited to purchase the business, which was approved by the Board. It acquired shareholding of 17.11% in Rare Hospitality and Services Private Limited (RHPL), a subsidiary of the Company, and as a result RHPL became a wholly owned subsidiary of the Company.
During the year 2020-21, Dusters Total Solution Services Private Limited, a wholly owned subsidiary of the Company, acquired all of the remaining shareholding of 49% in ADIS Enterprises Private Limited (AEPL), an indirect subsidiary of the Company, and as a result AEPL became a wholly owned subsidiary of the Company.
In FY 2021-22, Company acquired P4G business in New Zealand and Henderson business in Singapore. It launched new solutions like AVES-X (Bird control) and Rodent Smart Solutions.
During the year 2021-22, the Company acquired 49% shareholding in Uniq Security Solutions Private Limited (USSPL), a subsidiary of the
Company and as a result USSPL, and its subsidiaries Uniq Detective and Security Services (AP) Pvt Ltd, Uniq Detective and Security
Services (Tamilnadu) Pvt Ltd and Uniq Facility Services Pvt Ltd became wholly owned subsidiaries of the Company.
During the year 2022-23, the Company acquired the entire remaining shareholding of 49.99% in Terminix SIS India Private Limited, a subsidiary of the Company, and as result, Terminix became a wholly owned subsidiary of the Company. The Company, through its wholly owned subsidiary, acquired 85% of outstanding equity shares of Safety Direct Solutions Pty Ltd for an aggregate consideration of Rs 2.705 Crores. The Company acquired the remaining shareholding of SLV Security Services Private Limited (SLV) and as a result, the Company held 100% of the capital of SLV.
In 2023, the Company launched Go Secure', an innovative mobile security solution.
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