Clear Secured Services Limited achieved a revenue of ₹785 crore in FY26, marking a 63% increase from ₹483 crore in FY25, driven by a diversified service portfolio and strategic expansion into government contracts. The integrated facility and infrastructure solutions provider sustained its EBITDA margin at 8%, with EBITDA growing 62% to ₹60 crore, while Adjusted Profit After Tax surged 67% to ₹30 crore. This financial performance was detailed in the company's Analysts/Institutional Investor Presentation submitted to the National Stock Exchange of India Limited on June 8, 2026.

The company's growth trajectory has been significant over the past four years, with revenue climbing from ₹357 crore in FY23 to ₹785 crore in FY26, representing a compound annual growth rate exceeding 40%. A key driver of this expansion has been a deliberate pivot towards sovereign-backed projects, with revenue from government and PSUs rising to 31% in FY26 from 12% in FY24. This shift provides payment security and counter-cyclical resilience, insulating the company from private sector volatility.

Financial Performance

Clear Secured Services demonstrated robust operational efficiency alongside its top-line expansion. The company reported a balance order book of approximately ₹142 crore from government players, excluding private multi-year contracts, ensuring forward visibility for the next fiscal year. The debt-to-equity ratio improved significantly to 0.42 in FY26 from 1.02 in FY25, indicating a strengthened balance sheet following strategic capital management.

Strategic Diversification

The company operates a four-engine model comprising Integrated Facility Management, Security & E-Surveillance, Infrastructure, and Trading. Integrated Facility Management remains the anchor, contributing 47% to the revenue mix, while Security & E-Surveillance accounts for 18%. The infrastructure vertical serves as a margin booster, contributing 12%, and trading acts as a volume driver with 23%. This balanced mix hedges against sector-specific risks and supports sustainable growth.

Long-term client relationships underpin the company's stability, with contracts extending to 2029 for entities like Mumbai Metro Rail Corp and 2027 for Indian Railways. The company holds PSARA licenses in 17 states, creating a regulatory moat that allows it to bid for national tenders in railways, banking, and oil & gas sectors, which regional competitors cannot access.

Clear Secured Services Limited has secured a significant contract worth ₹156.46 crore from BSNL to execute Engineering, Procurement, and Construction (EPC) and maintenance work under the 4G saturation project. The contract encompasses the supply and erection of Ground Based Towers (GBTs) and infrastructure as a service provider (IaaS) for supply and installation, followed by operations and maintenance (O&M) for five years. This project targets uncovered villages in Cluster H, which includes the Bihar, Jharkhand, UP (E), UP (W), Punjab, and Haryana Circles.

The financial breakdown of the order reveals that approximately 80% of the total value is allocated towards the EPC of 299 towers across the specified circles. The remaining 20% of the order value is dedicated to the O&M contract, which is initially set for a period of five years with a possibility of extension for an additional five years. The total contract value includes GST.

Contract Details

Vimal Dubey, Chairman and Managing Director of Clear Secured Services Limited, expressed optimism regarding the order win. He stated that the company aims to deliver the project within nine months and maintain it for the stipulated period. Dubey further highlighted that this contract could open avenues for the company to participate in EPC contracts in other sectors such as Transmission & Distribution, Railways Kavach Projects, CCTV surveillance, solar projects, and optical fibre projects from various public sector undertakings and autonomous bodies domestically and internationally.

The company submitted the disclosure to the National Stock Exchange of India Limited on May 30, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Clear Secured Services Limited is listed on the NSE SME exchange.