Updater Services reported consolidated revenue from operations of ₹29,395 million for the financial year ended March 31, 2026, marking a 7.4% increase compared to ₹27,360 million in FY25. Despite top-line growth driven by its Integrated Facility Management (IFM) and Business Support Services (BSS) segments, consolidated profit after tax (PAT) fell 30% to ₹827.79 million from ₹1,189.77 million in the prior year. The decline in profitability was attributed to cost pressures, strategic growth investments, and a one-time provision of approximately ₹230 million related to logistics receivables at subsidiary Avon Solutions & Logistics Private Limited.

The IFM segment delivered robust performance, with revenues rising 10% to ₹20,480 million, supported by sustained demand across manufacturing, healthcare, and logistics sectors. The BSS segment grew by 2% to ₹9,678 million, bolstered by momentum in sales enablement services. On a standalone basis, revenue increased 10.7% to ₹17,624 million, while standalone PAT dropped to ₹528.59 million from ₹793.31 million.

Financial Performance Overview

The Board of Directors decided not to recommend a dividend for the year, opting to retain profits to support business expansion initiatives. The company remains a net cash entity, with total capital and net debt standing at ₹8,229 million as of March 31, 2026.

Operational Highlights and Risks

Updater Services emphasized its resilience in maintaining EBITDA margins despite the one-time provision for Avon’s logistics receivables. The company highlighted improved working capital efficiency through better receivables management and optimized billing cycles. However, statutory auditors BSR & Co. LLP noted qualifications regarding the maintenance of accounting software audit trails and backup procedures, which management has since addressed with corrective measures.

Significant contingent liabilities include disputed income tax dues of ₹410.72 million and Goods and Services Tax (GST) disputes totaling over ₹193 million. These matters are currently pending before appellate authorities. Additionally, undisputed Labour Welfare Fund dues of ₹87.26 million remain unpaid.

What the Numbers Show

The divergence between strong revenue growth and declining profitability underscores the impact of margin compression in labor-intensive service segments. While the IFM segment expanded rapidly, the overall group profitability was weighed down by specific operational lapses and strategic provisions. The company’s net cash position provides a buffer for future acquisitions, aligning with its strategy to pursue inorganic growth opportunities in high-margin business support services.

Updater Services Limited has announced the convening of its 23rd Annual General Meeting (AGM) on Tuesday, August 25, 2026, at 12:30 P.M. IST. The meeting will be conducted through Video Conferencing (VC)/Other Audio Visual Means (OAVM), in compliance with applicable Ministry of Corporate Affairs (MCA) and SEBI circulars. The AGM notice was signed by Company Secretary and Compliance Officer Sandhya Saravanan and dated May 28, 2026.

AGM Agenda at a Glance

The meeting has been called to transact both ordinary and special business. The key agenda items are summarised below:

Re-appointment of Chairperson and Managing Director

A key item on the special business agenda is the re-appointment of Mr. Raghunandana Tangirala (DIN: 00628914) as Chairperson and Managing Director for a further term of five years, commencing January 01, 2027 and ending December 31, 2031. Mr. Tangirala was previously re-appointed for a period of three years from January 01, 2024 to December 31, 2026, pursuant to approval by members through postal ballot on December 29, 2023. He holds a bachelor's degree in commerce and has approximately 35 years of experience, of which more than 32 years have been in the service sector as an entrepreneur. The Nomination and Remuneration Committee (NRC), at its meeting held on May 28, 2026, recommended his re-appointment following an evaluation of his performance, leadership, and industry expertise.

The proposed remuneration terms for Mr. Raghunandana Tangirala are as follows:

Notably, Mr. Tangirala will attain the age of 70 years on November 03, 2030, during the proposed tenure. Accordingly, the Board has also sought shareholder approval by way of Special Resolution for continuation of his directorship beyond the age of 70 years, as required under Section 196(3)(a) of the Companies Act, 2013. As on March 31, 2026, Mr. Tangirala holds 1,61,52,010 shares (24.12%) in the Company.

Re-appointment of Executive Director

Mrs. Jigyasa Sharma (DIN: 10474292), Executive Director, is proposed for re-appointment as she retires by rotation at this AGM. She was first appointed to the Board on April 02, 2024, and holds 5,00,000 shares (0.75%) in the Company as on March 31, 2026. Her proposed remuneration is Rs. 96,00,000/- per annum, and she is not eligible for sitting fees or commission. Mrs. Sharma is the daughter-in-law of Mr. Raghunandana Tangirala. She attended 6 out of 7 Board Meetings during the year and serves as a member of the Stakeholders' Relationship Committee, Corporate Social Responsibility Committee, and Risk Management Committee.

E-Voting and Meeting Participation Details

The Company has engaged National Securities Depository Limited (NSDL) to facilitate remote e-voting. Key dates and details for member participation are as follows:

Members wishing to register as speakers or submit questions in advance may do so by emailing compliance.officer@uds.in on or before 05:00 P.M. IST on Wednesday, August 19, 2026. The AGM proceedings will be webcast on the Company's website at www.uds.in , and results will be declared within the time stipulated under applicable laws. The scrutinizer's consolidated report will be submitted to the Chairperson and the results will be posted on the Company's website and communicated to the stock exchanges within two working days from the conclusion of the meeting.