Announcement • Jul 27
Updater Services Limited to Report Q1, 2027 Results on Jul 30, 2026 Updater Services Limited announced that they will report Q1, 2027 results on Jul 30, 2026 Announcement • Jun 06
SIS Limited (NSEI:SIS) acquired 4.20% stake in Updater Services Limited (NSEI:UDS) for approximately INR 510 million. SIS Limited (NSEI:SIS) acquired 4.20% stake in Updater Services Limited (NSEI:UDS) for approximately INR 510 million on June 5, 2026. A cash consideration of INR 513.9 million will be paid by SIS Limited. As part of consideration, INR 513.9 million is paid towards common equity of Updater Services Limited. The acquisition of shares forms part of the Company's ongoing treasury management operations.
SIS Limited (NSEI:SIS) completed the acquisition of 4.20% stake in Updater Services Limited (NSEI:UDS) on June 5, 2026. Reported Earnings • May 29
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹12.80 (down from ₹17.75 in FY 2025). Revenue: ₹29.6b (up 8.2% from FY 2025). Net income: ₹856.8m (down 28% from FY 2025). Profit margin: 2.9% (down from 4.3% in FY 2025). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 5.9%. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Commercial Services industry in India. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹148, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 18x in the Commercial Services industry in India. Total loss to shareholders of 48% over the past year. New Risk • Mar 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.25b (US$98.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Price Target Changed • Feb 08
Price target decreased by 12% to ₹264 Down from ₹299, the current price target is an average from 4 analysts. New target price is 70% above last closing price of ₹155. Stock is down 55% over the past year. The company is forecast to post earnings per share of ₹14.70 for next year compared to ₹17.74 last year. Reported Earnings • Feb 06
Third quarter 2026 earnings released: EPS: ₹1.37 (vs ₹4.61 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.37 (down from ₹4.61 in 3Q 2025). Revenue: ₹7.70b (up 11% from 3Q 2025). Net income: ₹91.6m (down 70% from 3Q 2025). Profit margin: 1.2% (down from 4.4% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Commercial Services industry in India. Recent Insider Transactions • Dec 06
Founder recently bought ₹1.4m worth of stock On the 4th of December, Raghunandana Tangirala bought around 8k shares on-market at roughly ₹174 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Raghunandana has been a buyer over the last 12 months, purchasing a net total of ₹2.0m worth in shares. Recent Insider Transactions • Nov 26
Founder recently bought ₹567k worth of stock On the 24th of November, Raghunandana Tangirala bought around 3k shares on-market at roughly ₹189 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Raghunandana's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹196, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Commercial Services industry in India. Total loss to shareholders of 50% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₹321 per share. Price Target Changed • Nov 08
Price target decreased by 11% to ₹333 Down from ₹374, the current price target is an average from 4 analysts. New target price is 66% above last closing price of ₹201. Stock is down 51% over the past year. The company is forecast to post earnings per share of ₹16.45 for next year compared to ₹17.74 last year. Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: ₹2.96 (vs ₹4.20 in 2Q 2025) Second quarter 2026 results: EPS: ₹2.96 (down from ₹4.20 in 2Q 2025). Revenue: ₹7.35b (up 8.1% from 2Q 2025). Net income: ₹198.9m (down 29% from 2Q 2025). Profit margin: 2.7% (down from 4.1% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Commercial Services industry in India. Price Target Changed • Aug 08
Price target decreased by 14% to ₹390 Down from ₹456, the current price target is an average from 3 analysts. New target price is 48% above last closing price of ₹263. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₹20.27 for next year compared to ₹17.74 last year. Reported Earnings • Jul 17
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹17.75 (up from ₹11.36 in FY 2024). Revenue: ₹27.4b (up 12% from FY 2024). Net income: ₹1.19b (up 75% from FY 2024). Profit margin: 4.3% (up from 2.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 3.7%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Commercial Services industry in India. Reported Earnings • May 28
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹17.74 (up from ₹11.36 in FY 2024). Revenue: ₹27.4b (up 12% from FY 2024). Net income: ₹1.19b (up 75% from FY 2024). Profit margin: 4.3% (up from 2.8% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 3.7%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Commercial Services industry in India. Buy Or Sell Opportunity • Jan 29
Now 20% overvalued Over the last 90 days, the stock has fallen 15% to ₹350. The fair value is estimated to be ₹290, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 63% in the next 2 years. Reported Earnings • Jan 28
Third quarter 2025 earnings released: EPS: ₹4.61 (vs ₹3.12 in 3Q 2024) Third quarter 2025 results: EPS: ₹4.61 (up from ₹3.12 in 3Q 2024). Revenue: ₹7.01b (up 10% from 3Q 2024). Net income: ₹308.8m (up 48% from 3Q 2024). Profit margin: 4.4% (up from 3.3% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Commercial Services industry in India. Announcement • Jan 20
Updater Services Limited to Report Q3, 2025 Results on Jan 27, 2025 Updater Services Limited announced that they will report Q3, 2025 results on Jan 27, 2025 Buy Or Sell Opportunity • Nov 29
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to ₹425. The fair value is estimated to be ₹349, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last year. Earnings per share has grown by 104%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 76% in the next 2 years. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹414, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 21x in the Commercial Services industry in India. Total returns to shareholders of 58% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₹352 per share. Buy Or Sell Opportunity • Oct 31
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to ₹411. The fair value is estimated to be ₹323, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last year. Earnings per share has grown by 104%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 80% in the next 2 years. Reported Earnings • Oct 30
Second quarter 2025 earnings released: EPS: ₹4.20 (vs ₹1.86 in 2Q 2024) Second quarter 2025 results: EPS: ₹4.20 (up from ₹1.86 in 2Q 2024). Revenue: ₹6.80b (up 13% from 2Q 2024). Net income: ₹281.2m (up 183% from 2Q 2024). Profit margin: 4.1% (up from 1.7% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Commercial Services industry in India. Price Target Changed • Oct 26
Price target increased by 8.7% to ₹470 Up from ₹432, the current price target is an average from 4 analysts. New target price is 32% above last closing price of ₹357. Stock is up 37% over the past year. The company is forecast to post earnings per share of ₹15.75 for next year compared to ₹11.36 last year. Buy Or Sell Opportunity • Oct 09
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to ₹385. The fair value is estimated to be ₹314, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last year. Earnings per share has grown by 76%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 107% in the next 2 years. Buy Or Sell Opportunity • Sep 20
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to ₹384. The fair value is estimated to be ₹313, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last year. Earnings per share has grown by 76%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 106% in the next 2 years. Buy Or Sell Opportunity • Sep 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to ₹380. The fair value is estimated to be ₹313, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last year. Earnings per share has grown by 76%. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 106% in the next 2 years. New Risk • Aug 31
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹5.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Aug 24
Insider recently sold ₹5.3m worth of stock On the 22nd of August, Samir Trivedi sold around 15k shares on-market at roughly ₹356 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹844k more than they sold in the last 12 months. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹367, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the Commercial Services industry in India. Simply Wall St's valuation model estimates the intrinsic value at ₹623 per share. Announcement • Aug 21
Updater Services Limited (NSEI:UDS) acquired an additional 22.3% stake in Denave India Pvt Ltd for approximately INR 530 million. Updater Services Limited (NSEI:UDS) acquired an additional 22.3% stake in Denave India Pvt Ltd for approximately INR 530 million on August 20, 2024. A cash consideration will be paid by Updater Services Limited towards the common equity of Denave India Pvt Ltd. Updater Services Limited acquired 3.748614 million equity shares of Denave India Pvt Ltd for a total value of approximately INR 530 million. As of March 31, 2024 Denave India Pvt Ltd reported revenue of INR 4,542.83 million and net income of INR 202.35 million.
Updater Services Limited (NSEI:UDS) acquired an additional 22.3% stake in Denave India Pvt Ltd on August 20, 2024. Reported Earnings • Aug 06
First quarter 2025 earnings released: EPS: ₹3.79 (vs ₹2.44 in 1Q 2024) First quarter 2025 results: EPS: ₹3.79 (up from ₹2.44 in 1Q 2024). Revenue: ₹6.59b (up 14% from 1Q 2024). Net income: ₹253.6m (up 105% from 1Q 2024). Profit margin: 3.9% (up from 2.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Commercial Services industry in India. Announcement • Aug 03
Updater Services Limited (NSEI:UDS) completed the acquisition of an additional 11.50% stake in Athena BPO Private Limited from from promoters of Athena BPO Pvt Ltd for approximately INR 160 million. Updater Services Limited (NSEI:UDS) acquired an additional 11.50% stake in Athena BPO Private Limited from from promoters of Athena BPO Pvt Ltd for approximately INR 160 million on August 1, 2024. A cash consideration of INR 163.39 million will be paid by Updater Services Limited. As part of consideration, INR 163.39 million is paid towards common equity of Athena BPO Private Limited. Upon completion, Updater Services Limited will own 85% stake in Athena BPO Private Limited. For the period ended March 31, 2024 Athena BPO Private Limited reported revenue of INR 1.4 billion and net income of INR 150 million.
Updater Services Limited (NSEI:UDS) completed the acquisition of an additional 11.50% stake in Athena BPO Private Limited from from promoters of Athena BPO Pvt Ltd for approximately INR 160 million on August 1, 2024. Recent Insider Transactions • Jun 04
Founder recently bought ₹18m worth of stock On the 31st of May, Raghunandana Tangirala bought around 65k shares on-market at roughly ₹272 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Raghunandana has been a buyer over the last 12 months, purchasing a net total of ₹58m worth in shares. Announcement • May 23
Updater Services Limited, Annual General Meeting, Jul 08, 2024 Updater Services Limited, Annual General Meeting, Jul 08, 2024. Reported Earnings • May 21
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ₹11.36 (up from ₹6.78 in FY 2023). Revenue: ₹24.7b (up 18% from FY 2023). Net income: ₹679.5m (up 90% from FY 2023). Profit margin: 2.8% (up from 1.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 11%. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Commercial Services industry in India. Announcement • Mar 30
Updater Services Limited Announces Resignation of P C Balasubramanian as Executive Director, Effective 2Nd April 2024 Updater Services Limited informed that, Mr. P C Balasubramanian Executive Director of the Company, who is resigning from the position with effect from 2nd April 2024 (close of business hours) will be connected with the Company as an Advisor to the Board. Recent Insider Transactions • Mar 29
Senior Vice President recently sold ₹2.0m worth of stock On the 26th of March, Santosh Lal sold around 6k shares on-market at roughly ₹327 per share. This transaction amounted to 68% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.7m. Insiders have been net sellers, collectively disposing of ₹10m more than they bought in the last 12 months. Recent Insider Transactions • Mar 14
Founder recently bought ₹5.7m worth of stock On the 12th of March, Raghunandana Tangirala bought around 18k shares on-market at roughly ₹317 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹22m. Raghunandana has been a buyer over the last 12 months, purchasing a net total of ₹40m worth in shares. Recent Insider Transactions • Feb 22
Founder recently bought ₹22m worth of stock On the 19th of February, Raghunandana Tangirala bought around 63k shares on-market at roughly ₹345 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Raghunandana has been a buyer over the last 12 months, purchasing a net total of ₹35m worth in shares. Reported Earnings • Feb 13
Third quarter 2024 earnings released Third quarter 2024 results: EPS: ₹3.12. Net income: ₹208.3m (up ₹208.3m from 3Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Commercial Services industry in India. Announcement • Feb 12
Updater Services Limited Appoints Sandhya Saravanan as Company Secretary The Board of Directors of Updater Services Limited at their meeting held on 10th February 2024 inter-alia: Considered and approved the appointment of Ms. Sandhya Saravanan (ACS 66942) as the Company Secretary and Compliance Officer of the Company with effect from February 10, 2024. Ms. Sandhya Saravanan has been associated with the company since July 13, 2022. She is handling Secretarial Compliances of the company. She holds a LLB Hons from School of Excellence in Law, Tamil Nadu and MSc Law, Finance and Accounting from The London School of Economics and Political Science (LSE), London, UK. She is an associate member of the Institute of Company Secretary of India. Before her association with the company, she was associated with Australian Foods India Private Limited as Company Secretary. Announcement • Jan 18
Updater Services Limited Announces Resignation of B. Ravishankar as Company Secretary and Compliance Officer Updater Services Limited announced that Mr. B. Ravishankar (ACS 8688) has resigned from the post of Company Secretary and Compliance officer of the Company w.e.f. January 18, 2023, due to his personal reasons. He will continue to discharge his duties as the Company Secretary of the Company, until the close of business hours on Saturday, February 10, 2024 to facilitate smooth transition. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹355, the stock trades at a trailing P/E ratio of 61.6x. Average trailing P/E is 31x in the Commercial Services industry in India. Recent Insider Transactions • Dec 19
Insider recently sold ₹12m worth of stock On the 13th of December, C. Saravanan sold around 40k shares on-market at roughly ₹301 per share. This transaction amounted to 80% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹11m more than they bought in the last 12 months. Recent Insider Transactions • Dec 01
Founder recently bought ₹3.0m worth of stock On the 29th of November, Raghunandana Tangirala bought around 11k shares on-market at roughly ₹265 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Raghunandana's only on-market trade for the last 12 months. New Risk • Nov 11
New major risk - Revenue and earnings growth Earnings have declined by 0.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 0.5% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.7% net profit margin). Announcement • Nov 01
Updater Services Limited to Report Q2, 2024 Results on Nov 07, 2023 Updater Services Limited announced that they will report Q2, 2024 results on Nov 07, 2023 Reported Earnings • Oct 22
First quarter 2024 earnings released First quarter 2024 results: EPS: ₹2.34. Net income: ₹123.9m (up ₹123.9m from 1Q 2023). Announcement • Oct 21
Updater Services Limited, Annual General Meeting, Nov 29, 2023 Updater Services Limited, Annual General Meeting, Nov 29, 2023, at 12:00 Indian Standard Time. Announcement • Oct 13
Updater Services Limited to Report Q1, 2024 Results on Oct 19, 2023 Updater Services Limited announced that they will report Q1, 2024 results on Oct 19, 2023