UDSNSE6 November 2025

Updater Services Limited has informed the Exchange about Investor Presentation

Updater Services Limited

Redefining Business Services

November 06, 2025

To: BSE Limited (BSE) Corporate Relationship Department Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai - 400001

To: National Stock Exchange of India Limited (NSE) Listing Department Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai — 400051

BSE Scrip Code: 543996

NSE Code: UDS

Dear Sir/Madam,

Sub: Investor Presentation on the Standalone and Consolidated Un-audited Financial Results for the Quarter and Half Year Ended September 30, 2025

In Continuation to our letter dated November 01, 2025, regarding the Board Meeting scheduled to be held on November 05, 2025, we wish to inform you that the Board of Directors approved the Standalone and Consolidated Un-audited Financial Results for the quarter, and half year ended September 30, 2025.

In this regard, please find enclosed the following document for your information and records:

1. Investor Presentation on the Un-audited Standalone and Consolidated Financial Results

for the Quarter and Half Year Ended September 30, 2025.

This disclosure is being submitted in compliance with applicable regulations and for your kind information and record.

Yours faithfully,

For Updater Services Limited

Sandhya Saravanan Company Secretary and Compliance Officer A66942

1st Floor, No.42, Gandhi Mandapam Road, Kotturpuram, Chennai - 600085

Updater Services Limited (earlier Updater Services Pvt Ltd)

+91 44 2446 3234 I 0333 I sales@uds.in I facility@uds.in I www.uds.in I CIN L74140TN2003PLC051955

Our Values: happy people I clear purpose I better everyday I do good I balance all

Updater Services Limited

Leading Integrated Business Service Platform

Investor Presentation November 2025

Safe Harbor

This presentation has been prepared by and is the sole responsibility of Updater Services Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the

trailing restrictions.

This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer or recommendation to purchase or subscribe

for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment thereof. In

particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. No representation or warranty, express or

implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such

information and opinions are in all events not current after the date of this presentation. There is no obligation to update, modify or amend this communication or to otherwise notify

the recipient if the information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Certain statements contained in this presentation that are not statements of historical fact constitute “forward-looking statements.” You can generally identify forward looking

statements by terminology such as “aim”, “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “objective”, “goal”, “plan”, “potential”, “project”, “pursue”,

“shall”, “should”, “will”, “would”, or other words or phrases of similar import. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other

factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied

by such forward-looking statements or other projections. Important factors that could cause actual results, performance or achievements to differ materially include, among others: (a)

our ability to successfully implement our strategy, (b) our growth and expansion plans, (c) changes in regulatory norms applicable to the Company, (d) technological changes, (e)

investment income, (f) cash flow projections, and (g) other risks.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. The Company

may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such change or changes.

Contents

1 Q2 & H1 FY26 Financial Highlights

Segment Highlights

3 Why UDS

Key Growth Strategies

Industry Outlook

6 Historical Financials

Q2 & H1 FY26 Financial Highlights

Key Financial & Operational Highlights – Q2 & H1 FY26

Committed to being a leading integrated business services provider, delivering reliable, efficient, and technology-driven solutions across diverse industries.

H1 FY26 Consolidated Financial Highlights

Key Updates for H1 FY26

Revenue ₹ 14,402 Mn

EBITDA ₹ 815 Mn

PAT ₹ 488 Mn

Head Count 74,500+

✓ Our BSS companies, Denave and Athena, have seen some impact

from global and industry headwinds

✓ We are actively investing in digital tools and automation capabilities to adapt to this change and future-proof our businesses against further disruption

✓ UDS Group added 28 Marquee Logos during the quarter across BSS &

IFM

✓ We was also awarded the Great Place to work accreditation for the

3rd year in a row

Q2 FY26 Financial Highlights

Total Revenue (₹ Mn.)

+7%

6,869

7,349

Total Revenue (IFM) (₹ Mn.)

65%

4,486

+10%

67%

4,929

Total Revenue (BSS) (₹ Mn.)

35%

2,383

+2%

33%

2,419

Q2 FY25

Q2 FY26

Q2 FY25

Q2 FY26

Q2 FY25

Q2 FY26

EBITDA (₹ Mn.)

Profit After Tax (PAT) (₹ Mn.)

EPS (₹)

7.4%

506

291

216

Q2 FY25

5.0%

371

218 153 Q2 FY26

6.5%

9.1%

4.4%

6.3%

IFM Margin (%)

BSS Margin (%)

4.1%

280

IFM BSS

2.7%

198

4.2

3.0

Q2 FY25

Q2 FY26

Q2 FY25

Q2 FY26

% of Sales

Margin (%)

H1 FY26 Financial Highlights

Total Revenue (₹ Mn.)

+7%

13,456

14,402

Revenue (IFM) (₹ Mn.)^

65%

8,733

+10%

67%

9,608

Revenue (BSS) (₹ Mn.)^

35%

33%

+1%

4,723

4,793

EBITDA (₹ Mn.)

7.3%

980

529 451

H1 FY25

H1 FY26

H1 FY25

H1 FY26

H1 FY25

H1 FY26

H1 FY25

IFM

BSS

5.7%

815 476 339 H1 FY26

EPS

RoCE (%)

Net Debt / Equity (X)

6.1%

9.6%

5.0%

7.1%

8.0

7.2

22.1%

13.0%

H1 FY25

H1 FY26

H1 FY25

H1 FY26

Mar-25

Sep-25

UDS is a Net Cash Company

-0.20 Mar-25

-0.16

Sep-25

IFM Margin (%)

BSS Margin (%)

% of Sales

Margin (%)

Profit After Tax (PAT) (₹ Mn.)

4.0%

536

3.4%

488

Segment Wise Highlights - IFM

Segment Wise Split

#Sector Wise Revenue Contribution

Customer Concentration

7.5% 0.6%

5.2% 6.0%

1.1%

6.5%

4.4%

19.0%

36.1%

46.4%

25.2%

28.3%

91.9%

21.8%

IFMS F&B Feminine Hygeine

Industrial Others BFSI Real Estate

Health Care IT/ITES Education Hospitality

Top 10

Next 40

Others

Long standing relationships with customers having a 95% Retention over a 5-year window

*Note all data are as on H1 FY26

#This classification does not change significantly from Quarter to Quarter

Segment Wise Highlights - BSS

Segment Wise Split

#Sector Wise Revenue Contribution

Customer Concentration

4.5%

4.8%

3.2%

8.1%

26.1%

30.6%

6.3%

22.4%

12.9%

79.4%

Sales Enablement Services Audit & Assurances Employee Background Verification Check Services Warehouse Management and Niche Logistics Solutions Airport Ground Handling Services

30.4%

IT/ITES RETAIL

BFSI Others

71.3%

Top 10

Next 40

Others

Long standing relationships with customers having a 95% Retention over a 5-year window

*Note all data are as on H1 FY26

#This classification does not change significantly from Quarter to Quarter

Q2 & H1 FY26 Profit & Loss Statement

Particulars (₹ Mn.)

Q2 FY26 Q2 FY25

Y-o-Y

Q1 FY26

Q-o-Q

H1 FY26 H1 FY25

Y-o-Y

Total revenue from operations

7,348.7

6,869.2

7,052.9

14,401.6

13,455.7

Cost of services and other raw material

Employee benefits expense (incl. ESOP)

Impairment losses on financial instrument and contract assets

Other expenses

Reported EBITDA

268.9

239.3

5,734.6

5,072.9

23.3

34.3

951.0

1,016.3

210.2

5,352.8

11.0

1,035.4

479.2

447.5

11,087.4

9,942.4

34.3

34.6

1,986.3

2,050.7

371.0

506.4

-27%

443.5

-16%

814.5

980.4

-17%

Reported EBITDA margin (%)

5.0%

7.4%

Depreciation & Amortization (excl. Amortization related to acquisition) Amortization related to acquisition

81.6

106.2

37.7

17.0

6.3%

96.2

15.6

5.7%

7.3%

177.8

199.2

53.4

38.5

251.6

383.2

-34%

331.7

-24%

583.4

742.7

-21%

EBIT

Finance Cost

Profit before tax

Tax

15.9

29.5

21.2

37.1

235.8

353.7

-33%

310.5

-24%

546.3

37.7

73.7

20.6

58.3

Reported profit after tax

198.1

280.0

-29%

289.9

-32%

487.9

EPS – Basic ₹

3.0

4.2

4.3

7.2

63.4

679.3

142.9

536.4

8.0

-20%

-9%

Strategic Contract Wins in Ramp-up Phase with Up front Costs: ❖ During the quarter, we secured several new contracts that are

highly strategic in nature, strengthening our long-term positioning with key clients and enhancing our presence across focus sectors ❖ These new contracts have led to an upfronting of employee cost as many are still in the ramp-up phase and have not yet reached their full revenue potential impacting margins

❖ We expect the cost on these strategic contracts to normalize in the

coming quarters

Sales Mix Impact: ❖ The change in the sales mix within and between the IFM and BSS segments during the quarter also influenced margins to an extent

For the Full Year FY26 We anticipate Revenue Growth to be in the range of 9 – 10%

Avon Update: ❖ During our internal review of Avon, we identified certain instances where thorough due diligence processes for a few customers were not adequately completed, which led to the issue under investigation

❖ The company has since strengthened its internal review

mechanisms and is actively working with legal advisors to recover the maximum possible amount

Consolidated Balance Sheet

Equity & Liabilities (₹ Mn.)

Equity Share Capital

Other Equity

Equity Attributable To Equity Holder Of The Parent

Non-controlling Interest

Total Equity

Financial Liabilities

Borrowings

(i) Lease Liabilities

(ii)Other Financial Liabilities

Provisions

Deferred Tax Liabilities (Net)

Total Non-current Liabilities

Financial Liabilities

Borrowings

(i) Lease Liabilities

(ii) Trade Payables

Sep-25

669.5

9,423.8

10,093.3

70.8

10,164.1

0.2

277.8

115.5

684.7

95.1

Mar-25

669.5

8,912.4

9,581.9

64.3

9,646.1

0.0

356.5

131.2

731.3

96.1

1,173.2

1,315.0

26.8

201.8

793.6

484.3

183.0

895.0

(iii) Other Current Financial Liabilities

2,191.5

2,000.1

Short Term Provision

Current Tax Liabilities

Other Current Liabilities

Total Current Liabilities

Total Liabilities

Total Equity And Liabilities

908.2

356.0

90.4

4,568.3

5,741.5

15,905.6

325.6

78.5

948.4

4,914.9

6,229.9

15,876.0

Assets (₹ Mn.) Property, Plant And Equipment Capital Work In Progress Goodwill Other Intangible Assets Intangible Asset Under Development Right-of-use Assets Contract Assets Financial Assets (i)Investments (ii)Loans (iii) Other Financial Assets Deferred Tax Assets (Net) Non-current Tax Assets Other Non-current Assets Total Non-current Assets Inventories Contract Assets Financial Assets (i) Investments (ii) Trade Receivables (iii) Cash And Cash Equivalents (iv) Bank Balances Other Than Above (v) Loans (vi) Other Financial Assets Other Current Assets Total Current Assets Total Assets

Sep-25 640.2 0.8 1,947.9 450.5 21.9 427.0 285.2

79.3 0.0 310.7 614.5 914.1 51.7 5,743.8

98.8 473.0

450.8 6,524.9 961.3 671.4 5.8 670.0 305.7 10,161.8 15,905.6

Mar-25

649.7 7.6 1,947.9 489.6 4.5 485.4 302.1

79.3 0.0 256.4 531.1 913.9 47.9 5,715.5 78.7 444.6

351.4 6,081.9 1,185.0 1,145.8 6.5 569.4 297.3 10,160.5 15,876.0

Consolidated Cash Flow Statement

Cash Flow Statement (₹ Mn.)

Net Profit Before Tax

Adjustments for: Non - Cash Items / Other Investment or Financial Items

Operating profit before working capital changes

Changes in working capital

Cash generated from Operations

Direct taxes paid (net of refund)

Net Cash from Operating Activities

Net Cash from Investing Activities

Net Cash from Financing Activities

Net Decrease in Cash and Cash equivalents

Add: Cash & Cash equivalents at the beginning of the period

Cash & Cash equivalents at the end of the period

Cash & Cash Equivalents Including Mutual Funds and FD’s

Sept-25

546.3

228.9

775.2

-341.5

433.6

-129.8

303.8

56.8

-559.6

-199.0

1,185.0

986.0

1,929.1

Sept-24

679.3

239.0

918.3

-328.4

589.9

236.6

353.3

-344.4

311.7

320.6

836.1

1,156.7

3,083.8

Why UDS…

Awards & Accreditations

Awards & Accreditions of UDS

Awards & Accreditations of Key Subsidiaries

Denave

Athena

Matrix

Avon

About Us

Leading Integrated Business Services Platform - Unique mix of businesses transforming from only IFM to integrated platform with BSS

Transformed into an integrated business services platform offering IFM services and BSS led through strategic acquisitions and Organic Growth

PAN-India presence with large and efficient workforce coupled with strong recruitment capabilities

Track record of successful acquisitions funded through internal accruals and successful integration

Longstanding relationship with customers across diverse sectors leading to recurring business

Technology at the forefront of current and future business

Highly experienced professionally managed team

Journey so far

IFM & Others

BSS

Soft Services

Staffing

Maintenance Contracts

Other Allied Services

1990

100% IFM

Mailroom Management

FY2007

Entered mail room management with acquisition of majority stake in Avon Solutions and Logistics

Airport Ground Handling

FY2019

Entered the business with acquisition of majority stake in Global Flight Handling Services in 2018

Catering

FY2018

Entered Catering with acquisition of majority stake in Fusion Foods in 2017

BPO-tele calling

FY2023

Acquired majority stake in Athena BPO (Sales Enablement)

FY2024

Took the company into IPO and raised INR 640 cr

Sales Enablement

FY2022

Entered Sales Enablement segment with acquisition of majority stake in Denave

Global - Aviation Training Center & Avon - Transport Business

FY2025

Avon expanded its market into Transport Business and Global launched Advanced Training Center for Aviation Skills

66% IFM

34% BSS

Feminine Hygiene

Employee Background Check , Audit & Assurance

FY2020

Entered hygiene segment with acquisition of majority stake in Washroom Hygiene Concepts in 2019

Entered Audit and Employee Background Checks with acquisition of majority stake in Matrix Business Services

Note: The years mentioned are Financial Years Above mentioned years reflect the date of the agreements to acquire and actual investment was made plus additional stakes were acquired in subsequent years All the highlighted blocks are the businesses added through acquisitions

Integrated Facility Management (IFM) & Other Services

Soft Services

Housekeeping and cleaning services, disinfecting, and sanitizing services, pest control, horticulture, and facade cleaning

Production Support Services

Material handling, material movement, on-site warehouse management, stores and inventory management, production support activities, and equipment maintenance

Engineering Services

Institutional Catering

Mechanical, electrical, and plumbing (MEP) services. Also referred to as hard services, include maintenance, repair, overhaul and performance management of heating, ventilation, and air conditioning (HVAC)

Catering and food services to corporates, educational institutions, and industrial facilities

Washroom and Feminine Hygiene Care Solutions

Feminine hygiene care solutions and products and services such as LFCB, SPVM, sanitizers and washroom solutions

Warehouse Management

General Staffing

Manage customer warehouses and operations within them, which could include material handling, stock keeping, grading, and sorting, breaking bulk, repacking, inward and outward dispatches, return logistics

Services where field staff are provided to customers for deployment in various roles and who operate under the customer’s supervision. Integrated Technical Staffing and Solutions, generally comprise recruitment, payroll and human resource services

Others

Technology Services & Procurement Services

Integrated Facility Management (IFM) & Other Services – 67% of Revenues in H1 FY26

Business Support Services (BSS)

Sales Enablement Services

Audit & Assurances

Serving global customers across multiple industries including information technology / information technology enabled services, telecom and other industries, through global delivery centres located in India, Singapore, Malaysia, UK & South Korea and also through partners in other parts of the world. BPO service includes in-bound and outbound telecalling focusing on Chatbots and Virtual assistant support

Services such as supply chain audit including warehouse depot audit, distributer audit, and retail point audit, among others. Provide back-office services related to marketing programs and channel partner claim processing to global customers

Employee Background Verification Check Services

Services comprise address verification, identity verification, educational qualifications verification, employment history verification, legal case history, among others

Mailroom Management and Niche Logistics and Transport Solutions

Leading service provider in India and a pioneer in the mailroom and asset movement business. Leverage this presence to also offer services such as office supplies management, courier and transport including handling warehouse among others

Airport Ground Handling Services

Services include baggage and cargo handling, passenger movement, and aircraft turnaround, among others. We also provide meet and greet services at various airports across the country and are currently operational in 23 airports. In addition, the company runs an advanced training centre in aviation skills under the Global School of Aviation, helping build a skilled workforce for the industry

Business Support Services (BSS) – 33% of Revenues in H1 FY26

Leading Integrated Business Services Platform

Updater Services Limited

Integrated Facility Management (IFM) & Other Services

Business Support Services (BSS)

IFM | Integrated Facility Management

BSS | Employee Background Verification (Matrix Business Services)

BSS | Audit & Assurance

(Matrix Business Services)

BSS | Mailroom Management & Niche Logistics and Transport

(Avon Solutions & Logistics)

BSS | Sales Enablement

(Denave & Athena BPO)

BSS | Airport Ground Handling

(Global Flight Handling Services)

UDS’s / Subsidiary’s Position in the Industry

Note: The rankings are based on market share for the financial year ended Mar 31, 2023 as per Frost & Sullivan report

PAN INDIA presence with large and efficient workforce

Customer Locations 4,000+

(excluding staffing locations)

Managed Space 200+ mn sq. ft.

Points of Presence 51

In India

Overseas points of presence 5

1) Data as of March 31, 2025| 2) Map is not to scale

Widespread network with 56 points of presence…

...gives the company competitive advantage over its peers in several aspects

UDS State wise presence in India

Preferred Service Provider

Ability to provide services for companies with presence across multiple locations

Quick Recruitment Capabilities

Ability to recruit, train and deploy resources at various locations in a short span of time

UDS also has presence in South- East Asia, South Korea and Europe

Efficient Monitoring

Ease of monitoring employees at different customer locations and administer to the clients’ needs

Easy Repositioning

In-house recruitment model coupled with wide presence enables the company to ramp up/down the activities effectively and helps in easy repositioning of resources across different locations

Track record of successful acquisitions and seamless integration of high margin businesses…

Selective Strategic acquisitions as means to expand the operations in value added business support services space ✓ Focus has been to acquire companies and businesses with offerings that are complementary and supplementary to the company’s existing services portfolio ✓ All acquisitions are selectively picked and have added either New Customer Segment | New Service Line | New Geography

Service Portfolio Before 2019

Current Service Portfolio

Integrated Facility Management

Engineering Services

Staffing and Soft Services

Engineering Services

Staffing and Soft Services

Feminine Hygiene

Production Support Services

Catering

Production Support Services

Catering

Business Support Services

Mailroom Management

Airport Ground Handling

Mailroom Management

Airport Ground Handling

Audit & Assurance

Sales Enablement

Employee Background Checks

Field Marketing & Marketing Services

Note: Shaded boxes represent the business segments which UDS entered through acquisitions

Denave at a Glance

Service Offerings

About Denave and its Offerings

Key Industries Served

Key Clients Include

Sales Intelligence

Digital Marketing

Intelligent Data Services

Denave is the pioneer of B2B sales enablement strategy. Today, the Company works closely with industry-leading clients to implement a transformational approach aimed at enabling enterprises to grow sustainably, build a competitive edge, and drive positive impacts across the value chain.

How our Services Enhance:

• AI Driven Models: Denave India leverages AI to enhance sales

efficiency through predictive analytics, conversational intelligence, and signal-based selling for smarter, faster revenue generation

• Revenue Development: Sales Intelligence, Intelligent Data

Services, Digital Marketing, Tele sales, Webinar Marketing, Field Sales

• Brand Activation: Digital Marketing, Merchandising & Audit, BTL

Marketing & Events

IT Services

IT Consulting

Banking

Insurance

Field Marketing

• Revenue Enablement: Sales Training, Business Analytics, Tech &

Platforms

Consumer Retail

FMCG

Ownership Metrics

Revenue CAGR

EBITDA CAGR

Revenue Influenced

Customers Served

Customer Retention

57.00%

FY 2023

100.0%

FY 2025

26%

FY22 to FY25

16%

FY22 to FY25

$7+ Billion

1,200+

90%+

Matrix at a Glance

Service Offerings

Description of Offerings

Key Industries Served

Key Clients Include

• Comprehensive Checks: Covers identity, address, education,

•

employment history, criminal records, and reference verification Technology-Driven Process: Uses digital tools for faster turnaround and higher accuracy

• Pan-India Reach: Extensive on-ground network enables verification

across urban and remote locations

• Compliance Support: Helps organizations meet statutory and

regulatory requirements in hiring

Employee Background Verification

• Retail & Inventory Audits: Conducts physical verification of stock,

assets, and compliance checks across retail and warehouse locations • Process & Compliance Audits: Assesses adherence to SOPs, statutory

norms, and internal controls

• Mystery Audits & Surveys: Evaluates customer experience, service

quality, and operational efficiency through discreet audits

• Data-Driven Insights: Delivers actionable reports to identify gaps,

reduce pilferage, and improve business efficiency

Audit & Assurance

IT Services

IT Consulting

Banking

Insurance

FMCG

Consumer Retail

Ownership Metrics

Revenue CAGR

EBITDA CAGR

Employee Count

Customer Count

Touchpoints

75.00% FY 2020

100.00% FY 2023

11%

FY20 to FY25

1,500+

450+

Corporate Customer Base

750+

Athena at a Glance

Service Offerings

Description of Offerings

Key Industries Served

Key Clients Include

•

Lead Generation & Conversion: Contacts potential customers to generate interest and convert leads into sales across various sectors

• Cross-Selling & Upselling: Promotes additional or higher-value products/services to existing customers to boost client revenue

• Customer Follow-ups & Renewals: Conducts follow-up calls for service

reminders, policy renewals, and feedback collection to enhance customer retention

Outbound Calls

•

• Customer Support & Query Resolution: Handles incoming customer calls for assistance, complaints, and product/service-related queries Lead Handling & Conversion: Manages inbound leads from digital channels and aggregators, helping convert interest into sales Service Requests & Renewals: Supports customers with policy renewals, service scheduling, and other transaction-related requests

•

Inbound Calls

Banking

Insurance

Education

Financial Services

Telecom

FMCG

Travel

Capital Goods

Ownership Metrics

Revenue CAGR

EBITDA CAGR

Seat Count

Customer Count

Customer Retention

57.00%

FY 2023

73.5%

FY 2025

FY22 to FY25

13%

FY22 to FY25

3,000+

25+

90%+

Experienced Board…

Strong standards of corporate governance with experienced directors on board

✓ One of the founding Directors of the Company

✓ 30 years of experience in the service sector as an entrepreneur

✓ Focuses primarily on corporate governance, organizational development, capital allocation and strategic growth

Raghunandana Tangirala Promoter, Chairman of the Board & MD

✓ Previously been associated with Ziqitza Healthcare, First Meridian Business Services, Reliance Jio, AGS Transact, Monsanto India, PepsiCo India, Quess Corp, GE Lighting and Blow Past

✓ Handles corporate affairs, investor relations and key strategic

Amitabh Jaipuria Non Executive Director

initiatives at UDS

✓ Brings a wealth of experience in economics and policy, having worked with C-suite officials in Asia and the US

✓ Holds a Master’s degree in Applied Economics from the National University of Singapore and Technology Policy from the prestigious University of California, Berkeley

Jigyasa Sharma Executive Director

✓ Handles Strategy, Marketing, Branding, People, Technology,

Internal Audit and Risk governance

✓ B.Com from Sydenham College of Commerce and Economics, University of Bombay, and Diploma in Systems Management (Honours) from National Institute of Information Technology

✓ Associate member of ICAI

✓ Previously served as a partner at Ernst & Young India

✓ B.Com (Calcutta University) and passed the final examination held by the ICAI and was awarded a proficiency certificate

✓ Founder and CEO of Medwiki, Dawa Dost. Senior VP at

SnapDeal. Group Finance Manager in P&G

Sunil Rewachand Chandiramani Independent Director

Amit Choudhary Independent Director

✓ Served as an executive director and a CFO with Dun & Bradstreet

Technologies

✓ Associate member of ICAI

Sangeeta Sumesh Independent Director

✓ Was previously associated with Lovelock & Lewes, Lebara

Foundation, Thales Software India, Tupperware India, Alstom Limited and PWC (Price Waterhouse Coopers)

Why UDS…

Unique Integrated Business Support Services Platform with widest offerings in the Industry

IFM + BSS

Highly experienced management team with support from PE investors

Long standing presence in India has helped us gain an understanding of the market

Track record of successful acquisition and integration of high margin business segments

Robust and loyal customer base is a significant strategic advantage

Technology at the forefront of our current and future business

Pan India presence with large and efficient workforce coupled with strong recruitment capabilities

Consistently growing business

•

Revenues : 23% CAGR (FY21-25) EBITDA : 29% CAGR (FY21-25) PAT : 26% CAGR (FY21-25)

•

India's Largest one-stop Solution for IFM and Business Services

Unique growth strategy – Organic + Inorganic

Key Growth Strategies

Retain, strengthen and grow customer base

✓ Focus on deepening relationships with existing customers

✓ Increasing wallet share through cross selling

✓ Leveraging technology to improve service delivery

Grow market share in key segments

✓ Existing customer

mining

✓ Business development using strong marketing skills and technology

Introduce new products and services

✓ Catering to existing and new customer segments

✓ Entering segments that are potentially large and margin accretive

Continue to improve operating margins

✓ Changing business

mix

✓ Improving Operating

leverage

✓ Using technology to improve service delivery

Pursue Inorganic Growth

✓ Strategic acquisitions

of high margin businesses supplemental to the company’s operations

CSR Activities

Empowering Communities through our CSR Acitivites

Digital Pathshala: ✓ Empowering 100+ children with special needs in

Ghaziabad through a new tech lab

Animal Welfare Activities: ✓ Backed stray animal shelters in Noida and Bangalore

Shop for Good ✓ Support eco-friendly products by marginalized

women

UDS Group is Committed to a Brighter and Sustainable Future

Industry Outlook

Outsourced IFM Market in India | Growth momentum to aid UDS' leading position ...

IFM: Well diversified market in terms of end customers…

…a large portion of which is currently being served in-house…

Education 4%

Residential 5%

Healthcare 9%

Government Infrastructure 10%

Retail 10%

Hospitality 11%

Others 2%

Industrial 34%

Commercial Offices 15%

Overall IFM Market

Outsourced 39.4%

FY25 ~ ₹10L+ Mn

In-housed 60.6%

…with a continued trend and preference for outsourcing…

..potentially leading to ~10.8% CAGR for Outsourced IFM during 20243-2029P

#IFM In-house vs Outsourced Services

*Outsourced IFM Market Size (INR Crs)

In-house

Outsourced

36.2%

63.8%

39.4%

60.6%

45.3%

54.7%

FY18

FY25

FY28P

10.8%

67,111

39,470

2025

2029P

#Source: All the graphical representations in this slide are sourced from Industry report by Frost & Sullivan

*Source: IFM Market Size as per Report by Mordor Intelligence

... further aided by the move towards organized integrated players

Increase in Share of Outsourced IFM services

Preference for Organized/Integrated Players

IFM: IN-HOUSE VS OUTSOURCED SERVICES

F Y 1 8

F Y 2 5

63.8%

36.2%

60.6%

39.4%

In-House

Outsourced

F Y 2 8 ( P )

54.7%

45.3%

UDS is 2nd Largest in Outsourced IFM

Comp. 1, 4.1% Comp. 2, 2.8%

Others, 80.4%

UDS, 2.8%

Comp. 3, 2.7%

Comp. 4, 2.2%

Comp. 5, 1.8%

Comp. 7, 1.5%

Comp. 6, 1.7%

The market is now shifting from single service contract model to Integrated Services Model

Key Drivers for preference towards organized players

✓ Preference for Organized IFM companies

offering a basket of services

✓ Gaining Cost Efficiencies*

✓ Accelerated use of technology

implementation*

Consolidation on the rise

IFM Un-Organized vs Organized Services

53%

47%

FY25

58%

42%

FY28P

Un-Organized

Organized

Key Drivers for industry consolidation

✓ Addition of more service activities

through mergers or tie-ups with regional

✓ Need for stringent quality standards and

players

Compliance

✓ Regulatory and Capability challenges for

✓ Increased need for mechanized cleaning

smaller companies to scale up

Source: All the graphical representations in this slide are sourced from Industry report by Frost & Sullivan *Source: Industry Report by Frost and Sullivan: https://www.uds.in/webroot/media/relatedlinkfiles/industry-report23-file-5691.pdf

BSS Industry | Emerging Segment with increasing outsourcing potential

Key verticals comprising the ~ ₹ 7,115 Cr BSS Segment and their

Sales Enablement Services (~₹ 2,000 Crs.)

✓ Demand generation ✓ Lead management ✓ Database management services ✓ Digital marketing ✓ Sales and retail analytics ✓ Field force management ✓ Field marketing services and ✓ Outbound tele-sales

pie share

Business Process Audits & Assurance (~₹ 270 Crs.)

✓ Supply Chain Audits ✓ Warehouse Audits ✓ Distributor Audits ✓ Retail Point Audits ✓ Scheme Audits and Processing for Distributors/Retailers

Airport Ground Handling (~₹ 2,900 Crs.)

✓ Aircraft turnaround services ✓ Baggage and Cargo Loading / Unloading

✓ Terminal Service ✓ Ramp Handling ✓ ancillary support services to aircrafts (ground power units, ground air conditioning units)

Employee Background Verification (~₹ 1,350 Crs.)

✓ Document Verification ✓ Criminal Background Check ✓ Education & Employment Verification ✓ Credit checks

Mailroom Management / Logistics & Warehousing (~₹ 550 Crs.) ✓ Facilitating and coordinating inbound and outbound mail, letters, packages ✓ Niche cargo and logistics solutions ✓ Warehousing is currently experiencing unprecedented demand

Note: Only the 5 abovementioned services are considered for arriving at the market size Industry Report: https://www.uds.in/webroot/media/relatedlinkfiles/industry-report23-file-5691.pdf

Source: Frost & Sullivan report

Driven by growth in these verticals the BSS segment is expected to grow at ~15.3% CAGR during FY23-FY28P

BSS Market Size (₹ Crs.)

+15.3%

14,478

+9.2%

8,182

4,814

CY2018

CY2024

CY2028P

UDS well placed with wide service offerings, onboarded through acquisitions

Sales Enablement Services

Employee Background Verification

Mailroom and Warehouse Management

Business Process Audits & Assurance

Airport Ground Handling

Growth Trend (₹ Crs.)

4,517

3,152

895

560

5,355

2,372

1,095

1,593

898

600

400

313

184

3,322

2,267

CY2018

CY2024

CY2028P

CY2018

CY2024

CY2028P

CY2018

CY2024

CY2028P

CY2018

CY2024

CY2028P

CY2018

CY2024

CY2028P

CAGR FY18-23: 12.9% | FY23-28: 17.6%

CAGR FY18-23: 8.5% | FY23-28: 18.5%

CAGR FY18-23: 6.4% | FY23-28: 10.4%

CAGR FY18-23: 8.0% | FY23-28: 15.7%

CAGR FY18-23: 5.3%* | FY23-28: 12.7%

Growth Drivers

✓ Digital communication | Cloud | Digitalization ✓ Analytics and content

intelligence

✓ Technology driven

Database generation ✓ Localization of voice activated instructions

✓ Demand for employee

background screening and data intelligence

✓ Avoiding Discrepancies ✓ Growth in gig economy ✓ New age business models

✓ Demand for end-to-end asset movement services

✓ Need for data security ✓ Cost reductions

*Segment witnessed a negative impact in 2020 due to COVID as airport operations were shut down

✓ Increasing integration

✓ Growth in passenger traffic

with 3rd party companies (suppliers, distributors and outsourced service providers)

✓ Retail industry growth

and tourism

✓ Growth in Meetings,

Conferences and Exhibitions

✓ Focus on airport

infrastructure in India ✓ Regional Connectivity

scheme

Integrated Business Services Platform with wide-range of services offered

FM Company Name

UDS

Competitor 1

Competitor 2

Competitor 3

Competitor 4

Competitor 5

Competitor 6

Competitor 7

Competitor 8

Competitor 9

s e c i v r e S t f o S

✓

s e c i v r e S d r a H

✓

s e c i v r e S m o o R

l i

a M

✓

t r o p p u S n o i t c u d o r P

✓

g n i r e t a C & d o o F

s e c i v r e S

✓

e e y o p m E

s k c e h C d n u o r g k c a B

e n n a h C / e d a r T / l i

a t e R

s e c n a r u s s A & s t i d u A

e n e i g y H e n n m e F

t n e m e b a n E s e a S

✓

d n u o r G t r o p r i A

g n

i l

d n a H

✓

t n e m e g a n a M e t s a W

s e c i v r e S y c n e g r e m E

✓

s e c i v r e S y t i r u c e S

p u e i t h g u o r h t

✓

s t c e j o r P

a t i p a C

✓

g n i f f a t S

✓

Note: The colors show relative strength of the company in a business segment For Soft Services, Hard Services, PSS, and Food & Catering Services the relative strength is based on market shares and for the rest of the business segment, the strength of a company is based on qualitative insights gathered during the research.

Source: The tabular form with services mapping in this slide are sourced from Industry report by Frost & Sullivan

High

Medium

Low

Historical Financials

Demonstrated Record of Robust Financial Performance

Total Revenue (₹ Mn.)

Revenue (IFM) (₹ Mn.)^

Revenue (BSS) (₹ Mn.)^

EBITDA (₹ Mn.)

90%

80%

72%

67%

66%

10%

20%

28%

33%

34%

6.9%

6.2%

5.0%

6.4%

7.3%

+23%

21,121

24,680 27,717

12,164 14,979

11,220 12,183

+13% 15,288 16,563 18,182

+68%

6,089

8,117

9,535

3,113

1,186

+29%

1,058

2,022

1,578

724

926

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

Profit After Tax (PAT) (₹ Mn.)

3.9%

3.8%

1.6%

2.7%

4.3%

476

574

+26%

346

1,190

663

961

666

Cash PAT (₹ Mn.)

+26%

1,169

RoCE (%)

Net Debt / Equity

UDS is a Net Cash Company

1,690

1,409

27.2%

21.4%

24.1% 23.4% 22.1%

0.0

-0.1

-0.2

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

FY24

FY25

FY21

FY22

FY23

^ Before Adjustments & Eliminations Cash PAT = Reported PAT + Depreciation & Amortization + ESOP Cost + Fair value changes in Liability payable/paid to promoters of acquired subsidiary For calculation of Net Debt, Cash & Cash equivalents(incl. bank balances) and bank deposits for more than 12 months is considered

% of Sales

Margin (%)

-0.4

FY24

-0.3

FY25

Historical Consolidated Profit & Loss Statement

Particulars (₹ Mn.)

Total Revenue from Operations

Cost of Services and Other RM

Employee benefits expense (incl. ESOP)

Impairment losses on financial instrument and contract assets

Other Expenses

Fair value changes in Liability payable/paid to promoters of acquired subsidiary

Reported EBITDA

Reported EBITDA Margin (%)

Depreciation & Amortization (excl. Amortization related to acquisition)

Amortization related to acquisition

EBIT

Finance Cost

Profit before Tax

Tax

Reported Profit After Tax

FY25

27,717.3

911.1

20,402.7

131.4

4,250.0

0.0

2,022.1

7.3%

394.5

76.9

1,550.8

103.5

1,447.3

257.5

1,189.8

FY24

24,679.7

1,019.6

18,156.5

69.6

3,749.8

105.9

1,578.3

6.4%

451.0

88.6

1,038.7

192.8

845.8

183.2

662.6

FY23

21,120.9

3,469.3

13,840.6

36.3

2,303.1

413.6

1,058.0

5.0%

308.4

62.1

687.5

145.7

541.9

195.8

346.0

FY22

14,979.4

393.5

11,387.8

60.0

1,998.7

213.5

925.9

6.2%

131.1

34.3

760.6

50.7

709.9

135.7

574.2

FY21

12,163.5

316.1

9,816.6

55.5

1,212.8

38.8

723.8

6.0%

128.0

21.9

574.0

29.7

544.3

68.7

475.6

Historical Consolidated Balance Sheet

EQUITY & LIABILITIES (₹ Mn.)

Mar-25

Mar-24

Mar-23

Mar-22

Mar-21

ASSETS (₹ Mn.)

Equity Share Capital

Other Equity

669.5

529.5

528.2

8,912.4

7,709.3

3,279.4

2,876.1

2,324.5

Equity attributable to equity holder of the parent

9,581.9

8,378.8

3,808.9

3,404.3

2,852.6

Non Controlling Interest

64.3

59.5

69.2

53.1

69.3

Property, plant and equipment

Capital Work in Progress

Goodwill

Other Intangible assets

Intangible asset under development

Total Equity

Financial liabilities

(i)Borrowings

(ii) Lease liabilities

(iii)Other Financial Liabilities

Net Employee Defined benefit liabilities

Deferred Tax Liabilities (Net)

Total Non-Current Liabilities

Financial liabilities

(i) Borrowings

(ii) Lease liabilities

(iii) Trade payables

9,646.1

8,438.3

3,878.1

3,457.4

2,921.9

0.0

356.5

131.2

731.3

96.1

0.3

325.2

311.6

496.9

117.0

179.3

284.2

1,138.7

539.5

157.5

0.0

78.7

804.1

488.0

108.5

1,315.0

1,251.1

2,299.2

1,479.3

484.3

183.0

895.0

528.7

192.7

792.6

1,586.1

149.0

793.4

586.8

47.7

456.8

0.0

23.2

84.5

339.6

25.6

472.9

116.1

21.8

318.6

(iv) Other current financial liabilities

2,000.1

2,828.0

2,321.9

1,780.6

1,174.3

Right-of-use assets

Contract Assets

Financial Assets

(i) Investments

(ii)Loans

(iii) Other Financial Assets

Deferred tax assets (net)

Non-current tax assets

Other non-current assets

Total Non-Current Assets

Inventories

Contract Assets

Financial assets

(i) Investments

Short Term Provision

Net Employee Defined benefit liabilities

Current Tax Liabilities

Other current liabilities

Total Current Liabilities

Total Liabilities

325.6

813.4

0.0

78.5

948.4

0.0

401.3

79.8

107.5

222.6

57.3

754.4

99.9

192.5

37.1

607.7

104.9

173.8

38.4

452.4

4,914.9

5,636.4

5,992.2

3,809.0

2,400.2

6,229.9

6,887.5

8,291.4

5,288.3

2,873.0

(ii) Trade receivables

(iii) Cash and cash equivalents

(iv) Bank balances other than (iii) above

(v)Loans

(v) Other financial assets

Other current assets

Total Current Assets

Total Equity and Liabilities

15,876.0

15,325.7

12,169.5

8,745.7

5,794.9

Total Assets

Mar-25 Mar-24 Mar-23 Mar-22 Mar-21

649.7

7.6

602.7

103.6

607.9

332.0

135.1

0.0

41.2

3.2

1,947.9

1,925.6

1,947.9

1,280.3

457.0

489.6

555.4

636.1

311.3

120.2

4.5

485.4

302.1

79.3

0.0

256.4

531.1

913.9

47.9

5.2

460.3

226.9

48.1

0.6

232.7

474.5

773.3

54.7

2.3

402.1

221.6

38.1

1.3

273.9

488.1

547.2

23.7

0.0

120.4

184.8

0.1

1.6

307.3

473.8

519.4

120.8

0.0

36.7

108.3

0.1

0.0

139.1

381.1

489.5

8.9

5,715.5

5,463.4

5,190.0

3,692.9 1,879.3

78.7

444.6

69.9

490.1

69.9

668.2

63.3

50.1

560.9

331.7

351.4

16.3

0.0

40.3

6,081.9

5,039.0

4,277.3

3,474.9

2,689.4

1,185.0

1,145.8

6.5

569.4

297.3

836.2

671.2

6.8

2,476.5

1,146.7

504.3

7.4

66.8

572.9

137.3

6.3

89.4

445.8

192.3

4.6

58.2

256.3

239.1

147.9

103.2

10,160.5

9,862.3

6,979.5

5,052.8 3,915.6

15,876.0 15,325.7 12,169.5 8,745.7 5,794.9

Historical Consolidated Cash Flow Statement

Cash Flow Statement (₹ Mn.)

Net Profit Before Tax

Adjustments for: Non - Cash Items / Other Investment or Financial Items

Operating profit before working capital changes

Changes in working capital

Cash generated from Operations

Direct taxes paid (net of refund)

Net Cash from Operating Activities

Net Cash from Investing Activities

Net Cash from Financing Activities

Net Decrease in Cash and Cash equivalents

Add: Cash & Cash equivalents at the beginning of the period

Mar-25

1,447.3

408.6

1,855.9

-879.2

976.6

-468.3

508.4

185.5

-345.1

348.8

836.2

Cash & Cash equivalents at the end of the period

1,185.0

Mar-24

845.8

813.8

1,659.6

-218.2

1,441.4

-415.0

1,026.4

-3,564.1

2,227.2

-310.5

1,146.7

836.1

Mar-23

541.9

908.0

1,449.9

-98.2

1,351.7

203.9

1,147.8

-1,529.8

955.8

573.8

572.9

1,146.7

Cash & Cash Equivalents Including Mutual Funds and FD’s

2,773.0

3,900.0

Mar-22

709.4

385.3

1,094.8

-570.4

524.4

213.7

310.7

-471.6

287.9

127.0

445.8

572.9

Mar-21

544.3

236.0

780.2

629.9

1,410.1

125.1

1,285.0

-165.5

-846.6

272.8

173.0

445.8

THANK YOU

Company: Updater Services Limited

CIN: U74140TN2003PLC051955 Mr. Surinder Kumar surinder.kumar@uds.in Website : www.uds.in

Investor Relations: Strategic Growth Advisors Pvt. Ltd.

CIN: U74140MH2010PTC204285 Mr. Deven Dhruva / Mr. Varun Shivram deven.dhruva@sgapl.net / varun.shivram@sgapl.net +91 98333 73300 / +91 91378 91895 Website : www.sgapl.net

← All Transcripts UDS Stock Page →

Updater Services Limited has informed the Exchange about Investor Presentation

Market Movers