Updater Services Limited — Investor Meet, 04-06-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Updater Services reported FY26 revenue up 7% to INR2,960 Cr, with IFM growing 10% (INR1,995 Cr) and BSS 1% (INR966 Cr). Adjusted EBITDA was INR176 Cr (5.9% margin), PAT INR83 Cr. Q4 revenue grew 3% to INR750 Cr. A one-time INR23 Cr provision for Avon's new logistics business impacted results, though its core operations grew 9%. Management termed FY26 a "reset year," adding 30 new IFM clients and 49 for Denave. They highlight strong IFM tailwinds and BSS's focus on tech and AI for efficiency. With INR450 Cr cash, they prioritize acquisitions and sustainable growth. Sentiment is cautiously hopeful.