Updater Services Limited (UDS) has released the transcript of its earnings call for the quarter and financial year ended March 31, 2026. The call, held on May 29, 2026, provided an in-depth review of the company's performance and strategic outlook. During the call, key leadership announcements were made, including the elevation of Amitabh Jaipuria to Senior Executive Director and the appointment of Ram Praveen as Chief Financial Officer. The company also outlined a simplified organizational structure where CEOs of Denave, Athena, and Matrix will report directly to the MD. FY26 was described as a challenging but resilient year for UDS, with revenue growing around 7% year-on-year. The company addressed a provision of approximately ₹23 crore related to receivables from its subsidiary Avon's logistics business, stating that the core business remains stable and a full provision has been made. The IFM division showed healthy momentum, with revenue growing 10% year-on-year to ₹1,995 crore, contributing 67% to the total revenue for FY26. EBITDA margins for the IFM segment stood at 4.5% for the full year. The BSS segment's revenue for FY26 was approximately ₹965 crore, broadly flat year-on-year, with adjusted EBITDA margins at approximately 9%. Denave's sales enablement business grew 11% with an EBITDA of ₹26 crore, while Athena's revenue stood at ₹113 crore with an EBITDA of ₹23.6 crore. The Matrix business reported EBITDA of ₹14.9 crore. Looking ahead, UDS aims for profitable and sustainable growth, margin improvement, strong cash flow generation, and technology-led operational excellence. The company highlighted strong structural opportunities in the IFM industry driven by workforce formalization, new office and industrial space demand, and a shift to outcome-based contracts. UDS maintains a net cash position and is evaluating value-accretive acquisition opportunities.
