In this article, we will analyze the Updater Services share price target for 2023, 2024, 2025, 2030, and 2035 based on the company’s financials and various reports from brokerage firms.
Recent News-
Updater Services Limited share price was listed at Rs 285 per share, 5% lower than the issue price of Rs 300.
Updater services consist of the fresh issue of shares of up to Rs 400 crore and an offer for sale (OFS) of up to 80 lakh equity shares with a face value of Rs 10 each by a promoter and others.
Financial Report
The company’s working capital requirements have been reduced from 25.6 days to 18.6 days.
The company’s revenue from operations jumped 42% year on year to Rs 2,099 crore for the year ended March 2023. In the same period, net profit fell 39% to Rs 34.6 crore.
Compounded sales growth was 17% in the previous 3 years.
Compounded profit growth has been 3% in the last 3 years.
The return on equity has been 17% in the last 3 years.
Total assets of the company have doubled in just 4 years, from Rs 611 crore to Rs 1,201 crore.
The cash conversion cycle has been reduced from 81 days to 74 days.
Working capital Days have improved from 51 days to 19 days.
Company overview-
Updater Services Limited was incorporated on November 13, 2003, in Kancheepuram, Tamil Nadu. Updater Services Limited provides integrated facilities management and business support services. The company offers products and services in the sectors of property management services, mechanical and electrical maintenance, BMS operation, plant maintenance, HVAC, staffing, and payroll management.
Updater is a market leader in the integrated facilities management (IFM) market in India and has business support services in pan-India. It also provides services for employee background checks, sales enablement, airport ground handling, mailroom management, and niche logistics solutions.
The company offers audit and assurance services in the BSS segment through its subsidiary companies.
Subsidiary Companies-
- Stanworth Management Private Limited
- Avon Solutions & Logistics Private Limited
- Zappy Home Solutions Private Limited
- Tangy Supplies & Solutions Private Limited
- Fusion Foods and Catering Private Limited
- Integrated Technical Staffing and Solutions, Private Limited
Fundamentals-
| Market Cap | 2,410 Cr |
| P/E Ratio | 44.67 |
| Industry p/E | 40.39 |
| Debt to Equity | 0.33 |
| Return on Equity | 4.85% |
| Dividend Yield | 0.00% |
Net-profit margin-
| Year | Revenue | Profit |
|---|---|---|
| 2023 | 2,112 | 35 |
| 2022 | 1,484 | 57 |
| 2021 | 1,210 | 48 |
Share-Holding Pattern
| Dec’23 | Sep’23 | |
|---|---|---|
| Promoters | 58.74% | 58.47% |
| Retail | 20.39% | 20.98% |
| Foreign Institutions | 7.26% | 12.16% |
| Mutual Funds | 9.08% | 6.23% |
| Domestic Institutions | 4.53% | 2.16% |
Share price targets for a specific company are highly speculative and influenced by numerous factors, such as market conditions, economic indicators, company performance, industry trends, and many more.
We will predict the Updater Services share price target in 2023, 2024, 2025, 2030, and 2035 by analyzing the previous performance and after studying various brokerage and research firm forecasts.
Updater Services share price target: 2023
| 2023 | Minimum Share Price | Maximum Share Price |
|---|---|---|
| November | 235 | 305 |
| December | 248 | 324 |
The share price of Updater Services is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 324 in December 2023 and a minimum price target of Rs 235 in November 2023. The average price target for Updater Services in 2023 is expected to be around Rs 322.
Updater Services share price target prediction for 2023 is based on the company’s financials, previous trends, and various brokerage firm reports.
Updater Services share price target: 2024
| 2024 | Minimum Share Price | Maximum Share Price |
|---|---|---|
| January | 288 | 365 |
| February | 275 | 397 |
| March | 295 | 402 |
| April | 304 | 424 |
| May | 296 | 428 |
| June | 312 | 436 |
| July | 317 | 455 |
| August | 322 | 428 |
| September | 335 | 415 |
| October | 338 | 422 |
| November | 346 | 438 |
| December | 358 | 444 |
The share price of Updater Services is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 444 in December 2024 and a minimum price target of Rs 275 in February 2024. The average price target for Updater Services in 2024 is expected to be around Rs 368.
Updater Services Share’s price target prediction for 2024 is based on the company’s financials, previous trends, and various brokerage firm reports.
Updater Services share price target: 2025
| 2025 | Minimum Share Price | Maximum Share Price |
|---|---|---|
| January | 355 | 452 |
| February | 368 | 448 |
| March | 375 | 441 |
| April | 388 | 465 |
| May | 396 | 473 |
| June | 412 | 466 |
| July | 425 | 475 |
| August | 428 | 485 |
| September | 436 | 493 |
| October | 447 | 504 |
| November | 465 | 516 |
| December | 476 | 525 |
The share price of Updater Services is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 525 in December 2025 and a minimum price target of Rs 355 in January 2025. The average price target for Updater Services in 2025 is expected to be around Rs 457.
Updater Services share price target prediction for 2025 is based on the company’s financials, previous trends, and various brokerage firm reports.
Updater Services share price target: 2030
| 2030 | Minimum Share Price | Maximum Share Price |
|---|---|---|
| January | 1285 | 1532 |
| February | 1294 | 1554 |
| March | 1204 | 1567 |
| April | 1314 | 1575 |
| May | 1322 | 1584 |
| June | 1328 | 1595 |
| July | 1336 | 1608 |
| August | 1347 | 1616 |
| September | 1359 | 1625 |
| October | 1368 | 1638 |
| November | 1383 | 1644 |
| December | 1405 | 1658 |
The share price of Updater Services is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 1658 in December 2030 and a minimum price target of Rs 1285 in January 2030. The average price target for Updater Services in 2030 is expected to be around Rs 1450.
Updater Services Share’s price target prediction for 2030 is based on the company’s financials, previous trends, and various brokerage firm reports.
Updater Services share price target: 2035
| 2024 | Minimum Share Price | Maximum Share Price |
|---|---|---|
| January | 1746 | 1955 |
| February | 1759 | 1934 |
| March | 1732 | 1966 |
| April | 1765 | 1976 |
| May | 1788 | 1988 |
| June | 1823 | 2005 |
| July | 1845 | 2026 |
| August | 1856 | 2035 |
| September | 1874 | 2048 |
| October | 1880 | 2055 |
| November | 1894 | 2082 |
| December | 1906 | 2103 |
The share price of Updater Services is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 2103 in December 2035 and a minimum price target of Rs 1732 in March 2035. The average price target for Updater Services in 2035 is expected to be around Rs 1958.
Updater Services Share’s price target prediction for 2035 is based on the company’s financials, previous trends, and various brokerage firm reports.
Strength of Updater Services
Over the years, the company expanded its operations across India and now stands as the second-largest IFM company in the country.
Besides its core services, the company has ventured into the procurement and supply of essential items for the facilities management sector.
In India’s highly fragmented soft services market, the company had a 4.1% market share as of March 31, 2023. They are also a leading provider of services to the healthcare industry.
The company has a network of 4,667 locations as of June 30, 2023. They operate from 112 offices within India and 13 offices overseas.
Weaknesses of Updater Services
The company’s profit decreased in 2023 compared to the previous two years.
There are ongoing legal proceedings involving the company, its promoters, subsidiaries, and directors.
Significant revenue for the company comes from a few geographical regions, particularly South India.
The top 10 customers within the IFM & other services segment accounted for 33.96%, 35.30%, and 35.39% of the company’s total income.
Conclusion
Updater Services is a leading integrated facilities management services and business support services provider to their customers, with a pan-India presence.
Updater Services share price targets for 2023, 2024, 2025, 2030, and 2035 are discussed above.
Disclaimer: I am not a SEBI-registered investment adviser or research analyst. The information shared is only for educational purposes. This is not an investment advice.
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