Nature of change: Re-appointment of Mr. Raghunandana Tangirala (DIN: 00628914) as Managing Director and Chairperson of the Company.
Effective date and tenure: The re-appointment is effective from January 01, 2027, for a period of five years.
Approval process: The re-appointment was approved by the Board of Directors at its meeting held on May 28, 2026, based on the recommendation of the Nomination and Remuneration Committee.
Profile and qualifications: Mr. Raghunandana Tangirala is a first-generation entrepreneur with over four decades of experience in the Integrated Facilities Management (IFM) industry and related services. The Board cited his entrepreneurial vision, unconventional thinking, strong leadership capabilities, and pivotal role in the company's growth, including achieving sustained growth, strengthening market position, successful completion of Initial Public Offering (IPO), and strategic acquisitions to expand capabilities, geographic presence, and service offerings.
Age consideration: Mr. Tangirala will attain the age of 70 years during the proposed tenure of re-appointment. The Board considered his extensive experience, industry expertise, strategic vision, and significant contribution to the Company as justifying the re-appointment despite age considerations.
Relationship disclosure: Mr. Tangirala is the father-in-law of Mrs. Jigyasa Sharma, who serves as Executive Director of the Company.
Governance implications: The Board believes his continued leadership would be instrumental in completing the integration of recent acquisitions and realizing long-term strategic synergies, ensuring continuity, stability, and sustained growth in the best interests of the Company and its stakeholders.
Any Other Material Information
Regulatory compliance: This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and references SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
Company details: Updater Services Limited (formerly Updater Services Pvt Ltd), CIN L74140TN2003PLC051955, with registered office at 1st Floor, No.42, Gandhi Mandapam Road, Kotturpuram, Chennai - 600085.
Contact information: Company Secretary and Compliance Officer - Sandhya Saravanan (Membership Number: A66942).
