External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>SIS reported moderate growth in Q3FY22 with Revenue at Rs 2,601 Cr, registering an encouraging growth of 7% QoQ, (above our expectations).</li><li>Consolidated EBITDA for the quarter grew by 5.7% QoQ to Rs 130 Cr, owing to strong growth in the India business</li><li>We recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share, implying an upside of 13% from CMP.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

SIS reported moderate growth in Q3FY22 with Revenue at Rs 2,601 Cr, registering an encouraging growth of 7% QoQ, (above our expectations).Consolidated EBITDA for the quarter grew by 5.7% QoQ to Rs 130 Cr, owing to strong growth in the India businessWe recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share, implying an upside of 13% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SIS: Healthy Recovery; Robust International Business

<p>We recommend a BUY with TP of Rs. 530 share. Security and Intelligence Services (India) Ltd (SIS), is a leading security services company in India and Australia with leadership positions in cash logistics and facility management services. The SIS group has expanded its footprint not just across 29 Indian states, but also across a widespread network in Australia and Singapore with strong client relationship and best in class services across all the verticals.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We recommend a BUY with TP of Rs. 530 share. Security and Intelligence Services (India) Ltd (SIS), is a leading security services company in India and Australia with leadership positions in cash logistics and facility management services. The SIS group has expanded its footprint not just across 29 Indian states, but also across a widespread network in Australia and Singapore with strong client relationship and best in class services across all the verticals.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<p>We recommend a BUY and assign 18x P/E multiple to its FY23E earnings of Rs 29.2/share which gives a TP of Rs 530/share, implying an upside of 10% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We recommend a BUY and assign 18x P/E multiple to its FY23E earnings of Rs 29.2/share which gives a TP of Rs 530/share, implying an upside of 10% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SIS: Tepid Growth; International Business Struggles

India

SIS Ltd provides private security services. The Company offers security solutions including planning and deployment of security and armed guards, firemen, dog handlers, consulting, and investigation works. SIS serves customers in India, New Zealand, and Australia.

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SIS (SECIS IN)

SIS: Healthy Recovery; Robust International Business

We recommend a BUY rating on the stock and assign a 21x P/E multiple to its FY24E earnings of Rs 28.4/share which gives a TP of Rs 590/share,...

Axis Direct

Pick of the Week: SIS Ltd

We recommend a BUY with TP of Rs. 530 share. Security and Intelligence Services (India) Ltd (SIS), is a leading security services company in India...

Axis Direct

SIS: Tepid Growth; International Business Struggles

We recommend a BUY and assign 18x P/E multiple to its FY23E earnings of Rs 29.2/share which gives a TP of Rs 530/share, implying an upside of 10%...

Axis Direct

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