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.

Updater Services reported a consolidated profit after tax (PAT) of ₹302.83 million for Q1FY27, a 4% year-on-year increase from ₹289.88 million in the corresponding period of FY26. The Chennai-based integrated business services provider achieved this growth on the back of a 9% rise in revenue to ₹7,642.91 million, driven by record performance in its Integrated Facility Management (IFM) segment. During its board meeting on July 30, 2026, the company declared an interim dividend of ₹1 per equity share, with August 5, 2026, fixed as the record date and payment scheduled by August 28, 2026.

The Board of Directors approved the unaudited standalone and consolidated financial results along with the limited review report issued by statutory auditors B S R & Co. LLP. The results were published in compliance with Regulations 30, 33, and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also disclosed that it does not foresee any material adjustment related to the statutory impact of new Labour Codes in the current quarter, having already accounted for the incremental impact in the previous fiscal year.

Financial Performance Highlights

Consolidated revenue from operations grew to ₹7,642.91 million in Q1FY27, up from ₹7,002.41 million in Q1FY26 and representing a 3% quarter-on-quarter increase from ₹7,428.21 million in Q4FY26. EBITDA stood at ₹423.2 million, an 8% year-on-year rise from ₹393.0 million, though margins contracted slightly to 5.5% from 5.6% due to higher employee benefit expenses. Profit before tax increased 7% to ₹331.51 million from ₹310.51 million.

Standalone revenue rose 11.4% to ₹4,634.95 million, with standalone PAT increasing 9.9% to ₹171.73 million. Basic earnings per share on a standalone basis were ₹2.56, compared to ₹2.33 in Q1FY26.

Segment-wise Analysis

The IFM segment contributed ₹5,275.01 million to total income, delivering its highest-ever quarterly revenue. This growth was supported by six new logo additions and strategic contract ramp-ups across education, manufacturing, and aviation verticals. The segment maintained a high customer retention rate of 95% over a five-year window.

In the Business Support Services (BSS) segment, which contributed ₹2,550.69 million, Denave emerged as the largest contributor with strong traction in Field Marketing Services. Athena, another key BSS subsidiary, recorded no client losses and secured two new client wins. Global Flight Handling Services delivered its highest-ever profitability, aided by high-margin non-scheduled flight operations.

Cost Drivers and Regulatory Updates

Employee benefits expenses remained the primary cost driver, rising to ₹6,008.09 million from ₹5,352.81 million in Q1FY26. This increase outpaced revenue growth, leading to margin compression. Management indicated that margins were impacted by changes in business mix and higher employee costs, planning to rationalize these through AI and automation.

Regarding regulatory changes, the company noted that the Government of India notified four Labour Codes in November 2025. The Group had assessed and recorded an incremental impact of ₹53.57 million towards provision for employee benefits during FY26 as an exceptional item. Management currently does not foresee any material adjustment to be recorded in the current unaudited consolidated financial results based on available guidance.

What the Numbers Show

While top-line growth accelerated at 9% year-on-year, the slight dip in EBITDA margins to 5.5% highlights persistent pressure from rising labor costs, which constitute the majority of operating expenses. However, the 11% quarter-on-quarter jump in PAT suggests that operational efficiencies and higher-margin contributions from segments like Global Flight Handling Services are beginning to offset these cost pressures. The company’s net cash position provides ample flexibility to pursue further AI-led automation initiatives aimed at long-term margin expansion.