Updater Services Ltd

(UDS)

Updater Services Limited was incorporated in Chennai Tamil Nadu as Updater Services Private Limited dated November 13 2003 issued by the RoC upon conversion of Updater Services a Partnership Firm into a Private Limited Company. Thereafter Company wasconverted from a Private Limited Company to a Public Limited Company and consequently name of the Company was changed to Updater Services Limited and a fresh Certificate of Incorporation dated March 24 2022 was issued to Company by the RoC.The Company is a leading focused and integrated business services platform in India offering integrated facilities managementIFM services and business support services BSS to clients with a panIndia presence. Within BSS segment the Company offer Audit and Assurance services through its Subsidiary Matrix which is a leading Audit and Assurance company for dealer / distributor audits and retail audits and its strong branch reach and field associate reach has driven the company to reach the top spot in India. The portfolio of services include FMCG manufacturing and engineering BFSI healthcare IT / IteS automobiles logistics and warehousingairports ports infrastructure and retail among others.The Company was founded as a Partnership Firm between Raghunandana Tangirala and K. Hariharan which commenced operations in 1990 as a housekeeping and catering services company at Chennai Tamil Nadu. In 2002 the Company got into an agreement with SaintGobain Glass India Private Limited for providing operations services. In 2006 Avon Solutions and Logistics Private Limited a mail room management company was acquired with 51 shareholding into the Company.Later in January 2017 Company acquired 100 shareholding in Stanworth Management Private Limited SMPL and consequently SMPL became a wholly owned subsidiary of Company. It acquired equity shares of Fusion Foods and Catering Private Limited which engaged in hospitality and industrial catering and became a wholly owned subsidiary of Company in November 2021. The Company got into an agreement for providing and managing the human resource services at a hospital in Ahmedabad in 2018 and acquired 70 stake in Global Flight Handling Services Private Limited acquired 75 shareholding in Matrix Business Services India Private Limited in April 2019 and became wholly owned Subsidiary 74 shareholding in Washroom Hygiene Concepts Private Limited in September 2019 and became a wholly owned Subsidiary of Company on August 31 2021. In 2022 the Company acquired 57 shareholding in Athena BPO Private LimitedThe Company is proposing Public Offer consisting of equity shares by raising capital of Rs 400 crore through fresh issue and by issuing 13300000 equity shares through offer for sale..

Share Price: ₹391.05 per share as on 17 Sep, 2024 04:01 PM
Market Capitalisation: ₹2,663.88Cr as of today
Revenue: ₹652.17Cr as on June 2024 (Q2 24)
Net Profit: ₹25.63Cr as on June 2024 (Q2 24)
Listing date: 04 Oct, 2023
Chairperson Name: Raghunandana Tangirala