Updater Services Limited has issued the notice for its 23rd Annual General Meeting (AGM), scheduled for August 25, 2026, at 12:30 P.M. IST. The meeting will be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with Ministry of Corporate Affairs (MCA) and SEBI circulars. Shareholders are being asked to approve the adoption of audited financial statements for FY25 and the re-appointment of key board members, including a special resolution to extend the tenure of Chairperson and Managing Director Raghunandana Tangirala beyond the age of 70.

The primary focus of the special business is the re-appointment of Mr. Raghunandana Tangirala as Chairperson and Managing Director for a five-year term from January 1, 2027, to December 31, 2031. As he will attain the age of 70 on November 3, 2030, during this tenure, shareholder consent is required under Section 196(3)(a) of the Companies Act, 2013. His proposed fixed salary remains unchanged at ₹1.92 crore per annum, supplemented by incentives based on Key Performance Indicators (KPIs) and perquisites as per company policy. He is not eligible for sitting fees.

Board Re-appointments and Remuneration

In addition to Mr. Tangirala’s re-appointment, shareholders will vote on the re-appointment of Mrs. Jigyasa Sharma, Executive Director, who retires by rotation. Her proposed remuneration is ₹96 lakh per annum. Mrs. Sharma, who holds 0.75% of the company’s shares, brings expertise in strategy, marketing, and risk governance. She serves on the Stakeholder’s Relationship, Corporate Social Responsibility, and Risk Management Committees.

Mr. Tangirala, who holds 24.12% of the company’s shares, has been instrumental in the company’s growth, including its Initial Public Offering and strategic acquisitions. The Nomination and Remuneration Committee (NRC) recommended his re-appointment following an evaluation of his performance and leadership contributions. His remuneration package includes reimbursement of business expenses and use of a company car for official duties.

E-Voting and Participation Details

National Securities Depository Limited (NSDL) has been engaged to facilitate remote e-voting. Members can cast their votes between August 22, 2026, at 9:00 A.M. IST and August 24, 2026, at 5:00 P.M. IST. The cut-off date for determining voting rights is August 19, 2026. Physical attendance has been dispensed with; however, body corporates may appoint authorized representatives to attend via VC/OAVM.

The scrutinizer for the process is Mr. M. Alagar of Alagar & Associates LLP. Shareholders wishing to speak or submit questions must email compliance.officer@uds.in by August 19, 2026, at 5:00 P.M. IST. The company has also informed NSDL, CDSL, and Registrar & Transfer Agent MUFG Intime India Private Limited about the dispatch of the notice. Members without registered emails are urged to update their details with depository participants to receive future communications electronically.

Updater Services Limited has released its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, offering a detailed disclosure of its environmental, social, and governance (ESG) performance on a standalone basis. The report, submitted as Annexure VIII to the company's annual filings, covers the period ending FY 2025-26 and reflects the company's commitment to transparency, accountability, and responsible business conduct in line with the National Guidelines on Responsible Business Conduct (NGRBC).

Company Overview and Operations

Updater Services Limited, incorporated on 13-11-2003 and headquartered at First Floor, No. 42, Gandhi Mandapam Road, Kotturpuram, Chennai - 600 085, is engaged in providing support services, specifically Housekeeping & Maintenance Services, which account for 100% of its turnover under NIC Code 82990. The company's paid-up capital stands at Rs. 66,95,32,410/-. For CSR applicability purposes, the company reported a turnover of Rs. 17,62,40,50,000 and a net worth of Rs. 9,05,97,80,000.

The company maintains 35 offices across India and serves customers in 27 states domestically and across 2 international markets. Exports contribute 0.09% of total turnover. Updater Services serves a diverse customer base spanning over 33 industry segments, including Manufacturing, BFSI, Healthcare, IT/ITES, Retail, Real Estate, Education, Energy, FMCG, and Pharmaceuticals, among others.

Workforce and Employee Well-Being

As of the end of FY 2025-26, the company employed 56,252 permanent employees, comprising 41,252 males (73.33%) and 15,000 females (26.67%). The company has no staff in the 'Workers' category. The following table summarises key workforce metrics:

All 56,252 permanent employees are covered by health insurance and accident insurance. Maternity benefits cover all 15,000 female permanent employees (100%). Well-being expenditure as a percentage of total revenue stood at 0.11% in FY 2025-26, compared to 0.10% in FY 2024-25. Retirement benefits including PF and Gratuity cover 100% of employees, while ESI coverage stood at 71.88% in FY 2025-26 versus 79.63% in FY 2024-25.

The company conducted 15 training programmes for employees other than Board members and KMPs, achieving 90% coverage on health and safety measures and 69% on skill upgradation in FY 2025-26. Performance and career development reviews were conducted for 100% of all permanent employees. The Lost Time Injury Frequency Rate (LTIFR) for employees improved significantly from 5.38 in FY 2024-25 to 1.03 in FY 2025-26, with total recordable work-related injuries declining from 24 to 22.

Governance and Board Composition

The Board of Directors comprises 6 members, of whom 2 are female (33.33%). Among Key Managerial Personnel (KMP), 2 out of 4 are female (50.00%). The company has an ESG Committee constituted on March 28, 2024, chaired by Mr. Raghunandana Tangirala, Chairman & Managing Director (DIN: 00628914), and responsible for overseeing alignment with NGRBC principles.

All nine NGRBC principles are covered by board-approved policies, which have been translated into procedures and extended to value chain partners. Independent assessments have been carried out by external agencies including BSI, Intertek, CERTVALUE, and SIS across multiple principles. The company has set short-term carbon emission reduction targets by 2032 and long-term targets by 2042 under Principle 6.

The following table summarises key remuneration data:

Gross wages paid to females as a percentage of total wages stood at 22.45% in FY 2025-26, up from 21.53% in FY 2024-25.

Environmental Performance

Updater Services has undertaken several sustainability initiatives, most notably the installation of a 90 kW solar power plant at SaiTech Park, Guindy, Chennai, and a 47 kW solar power plant at Kotturpuram, Chennai. The company also installed automatic electric sensors for lighting and automatic water sensors to optimise resource consumption.

The following table presents key energy and emissions data:

Air emissions data for FY 2025-26 recorded NOx at 170 µg/m³ (down from 215 µg/m³), SOx at 13 µg/m³ (down from 18 µg/m³), and Particulate Matter (PM) at 16.70 µg/m³ (down from 19.20 µg/m³), as assessed by Chennai Testing Laboratory Pvt Ltd. The company is compliant with applicable environmental laws and regulations in India and does not operate in any ecologically sensitive areas.

Subsidiaries and CSR Activities

Updater Services holds stakes in nine subsidiaries, including Avon Solutions & Logistics Private Limited (76.00%), Denave India Private Limited (89.57%), Global Flight Handling Services Private Limited (73.93%), and Updater Services (UDS) Foundation (100%), among others. None of the subsidiaries currently participate in the Business Responsibility initiatives of the listed entity.

Under its CSR mandate, the company supported two key projects during the reporting year:

On procurement, 61% of input materials were sourced directly from MSMEs/small producers in FY 2025-26, a significant increase from 31% in FY 2024-25. Domestic sourcing stood at 92% of total inputs. The company's related party transactions as a share of total purchases rose to 25.80% in FY 2025-26 from 4.12% in FY 2024-25, while sales to related parties declined marginally to 0.52% from 0.79%.