Key Metrics of Updater Services Limited
About Updater Services Limited
Company details
- Registered office
- 1st Floor, No.42, Gandhi Mandapam Road, Kotturupuram, Kotturpuram, Chennai City Corporation, Chennai, In-tn, 600085
- Listed
- NSE: UDS · ₹205.45
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 29 Sep 2026 | ICRA | Reaffirmed | AA- | A1+ | Stable | ₹214 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Prominent player in IFM and BSS industry with proven track record; diversified customer base with high client retention rates
UDS is among the top players in the highly fragmented IFM and BSS industry, with over 720 clients (standalone level) and a retention rate of over 90%.
+ Strong financial profile and liquidity position
UDS’ financial profile is characterised by a comfortable scale of operations, low gearing and strong coverage metrics.
+ Established presence of more than three decades; strong management
UDS, incorporated by Mr. Raghunanda Tangirala, has been operational for more than three decades in the IFM space.
Credit challenges
− Moderate geographical concentration of revenues
The company has operations across 24 states in India.
− Highly fragmented industry; intense competition leads to pricing pressure
IFM is a highly fragmented industry with intense competition from both organised and unorganised players.
Could lead to an upgrade
The ratings could be upgraded if there is a substantial improvement in scale along with a sustained improvement in operating and net margins while maintaining a healthy working capital cycle and
Could lead to a downgrade
Pressure on the ratings could arise if there is any significant contraction in revenues or margins or large debt-funded acquisition that could lead to a deterioration in its
Agency-reported financials (ICRA, 29 Sep 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹2,736 Cr | ₹2,940 Cr |
| PAT | ₹119 Cr | ₹82.80 Cr |
| OPBDIT/OI | 6.2% | 4.6% |
| PAT/OI | 4.3% | 2.8% |
| Total outside liabilities/Tangible net worth (times) | 0.60× | 0.50× |
| Total debt/OPBDIT (times) | 0.60× | 0.30× |
| Interest coverage (times) | 16.50× | 20.20× |
| Revenue growth (YoY) | — | 7.4% |
| EBITDA (margin × income) | ₹170 Cr | ₹135 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹102 Cr | ₹40.57 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹10.28 Cr | ₹6.69 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Fund-based | Working capital & bank lines | ₹135 Cr | ₹135 Cr | 0.0% | AA- (Stable) | Reaffirmed | ICRA |
| Long-term – Fund-based – (30.00) (30.00) (sublimit) Short-term – Non-fund based | Non-fund based limits | ₹44.0 Cr | ₹44.0 Cr | 0.0% | AA- / A1+ (Stable) | Reaffirmed | ICRA |
| Short-term – Fund-based | Working capital & bank lines | ₹35.0 Cr | ₹35.0 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 82% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 82% chance the next rating action is stable or better
- Current rating AA- (investment grade)
- Interest coverage 20.2×
Rated limits by facility
Timeline
From the report
ICRA notes that the company continues to maintain a near debt-free position (excluding lease liabilities) as of March 2026, supporting its overall leverage and coverage metrics, with interest cover, total debt/OPBDITA and gearing at 20.2 times, 0.3 times and 0.04 times, respectively, in FY2026, as against 16.5 times, 0.6 times and 0.1 times, respectively, in FY2025.
From the report
Despite moderation in margins to 4.6% in FY2026 from 6.2% in FY2025, the company was able to manage its working capital requirements and largely remained debt-free as of March 2026 (excluding lease liabilities).
From the report
Liquidity position: Strong UDS’ liquidity position is strong, given the expected cash flow from operations of Rs. 100 -125 crore annually, sizeable cash and bank balances of Rs. 367.4 crore, and buffer in the working capital limits of around Rs. 235.0 crore as of March 31, 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.