Updater Services appoints Amitabh Jaipuria as Whole-time Director

Updater Services announced that its shareholders have approved the appointment of Mr. Amitabh Jaipuria as Whole-time Director and Key Managerial Personnel, changing his designation from Non-Executive Director to Senior Executive Director. The resolution was passed through a postal ballot process, receiving 99.77% assent from the votes cast. The appointment is effective from April 01, 2026, for a period of three years with the possibility of extension as mutually agreed.

The postal ballot voting, conducted via remote e-voting, concluded on June 25, 2026. A total of 195 members participated, casting 50,087,330 votes. The resolution received 49,971,087 votes in favour and 116,243 votes against. The scrutiny of the votes was carried out by Alagar & Associates LLP, Company Secretaries, who were appointed as the Scrutinizer.

Voting Breakdown

The detailed voting results showed strong support across different shareholder categories. Promoters and the Promoter Group cast all their votes in favour of the resolution.

Category	Votes Held	Votes Polled	Votes in Favour	Votes Against	% Favour
Promoter and Promoter Group	39,563,155	39,563,155	39,563,155	0	100
Public - Institutions	10,732,153	9,381,952	9,364,812	17,140	99.82
Public - Non Institutions	16,657,933	1,142,223	1,043,120	99,103	91.32
Total	66,953,241	50,087,330	49,971,087	116,243	99.77

Remuneration Details

Shareholders also approved the remuneration package for Mr. Jaipuria. The remuneration structure includes a fixed salary and other benefits as per the company's policy.

Component	Details
Fixed Salary	₹1.5 crore per annum
Other Benefits	Mutually agreed variable pay scheme; separate contract for M&A deal commission
Perquisites	As per the Company's remuneration policy and applicable provisions of the Act

The resolution ensures that in the event of absence or inadequacy of profits in any financial year, the remuneration payable to Mr. Jaipuria shall be given over and above the limits prescribed under Schedule V to the Companies Act, 2013. The Board is authorized to vary the terms of appointment and remuneration in accordance with applicable laws.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.32%	+0.69%	+4.84%	-8.84%	-35.72%	-36.15%

Updater Services reported financial results for the fourth quarter and fiscal year ended March 31, 2026, revealing a 7% year-on-year increase in total revenue from operations to ₹29,602.0 Mn. The Integrated Facility Management (IFM) segment delivered its highest-ever annual revenue, driven by new client additions and the ramp-up of strategic contracts. Despite the revenue growth, the company's reported profit after tax (PAT) for FY26 declined by 30% to ₹827.8 Mn, impacted by one-time provisions and strategic investments in higher-volume contracts. The audio recording of the earnings call held on May 29, 2026, is now available on the company's website.

Financial Performance

For the quarter ended March 31, 2026 (Q4FY26), total revenue from operations stood at ₹7,495.7 Mn, a 3% increase from ₹7,256.0 Mn in Q4FY25. Reported EBITDA for Q4FY26 was ₹493.5 Mn, a 6% decrease year-on-year, with margins contracting to 6.6% from 7.2% in the prior year. The decline in margins was attributed to a strategic decision to undertake higher volume contracts, which incurred upfront costs, as well as transitory factors. Profitability is expected to normalize as these contracts mature.

Particulars (₹ Mn.)	Q4 FY26	Q4 FY25	YoY	FY26	FY25	YoY
Total revenue from operations	7,495.7	7,256.0	3%	29,602.0	27,717.3	7%
Reported EBITDA	493.5	522.7	-6%	1,548.5	2,022.1	-23%
Reported EBITDA margin (%)	6.6%	7.2%		5.2%	7.3%
Reported profit after tax	273.7	341.9	-20%	827.8	1,189.8	-30%

One-Time Provisions and Adjustments

The financial results were affected by specific one-time charges. The company recorded a one-time loss of ₹211.0 Mn in FY26 related to receivables at Avon, taken as a prudent measure. Additionally, the adoption of new Labour Codes resulted in an exceptional charge of ₹53.6 Mn, primarily due to higher provisioning for gratuity. Excluding these items, Adjusted EBITDA for FY26 was ₹1,759.5 Mn, and Adjusted PAT was ₹828 Mn.

Segment and Operational Highlights

The IFM segment, which contributed 67% of revenues in FY26, achieved its highest-ever annual revenue, with growth momentum back on track. The Business Support Services (BSS) segment, contributing 33% of revenues, continued to invest heavily in technology and AI-led solutions to improve efficiency and scalability. Denave, a BSS subsidiary, witnessed strong margin recovery in Q4FY26 driven by a better service mix of higher-margin new logos and increasing adoption of AI-led automation. Global delivered its highest-ever profitability, supported by high-margin non-scheduled flight operations and strong seasonal traffic.

Balance Sheet and Cash Flow

Updater Services maintained a net cash position with a Net Debt to Equity ratio of -0.24X. Cash and cash equivalents at the end of FY26 stood at ₹2,085.3 Mn, up from ₹1,185.0 Mn in the previous year. Including mutual funds and fixed deposits, total liquid assets were ₹4,565.5 Mn. Net cash generated from operating activities for FY26 was ₹1,436.5 Mn.