Updater Services Limited, formerly known as Updater Services Pvt Ltd, has reported a substantial INR 250 million in trade receivables as of September 30, 2025, reflecting ongoing financial activities despite noted irregularities. During a Board Meeting held on November 5, 2025, the company approved its standalone and consolidated un-audited financial results for the quarter and half year ended September 30. These results, which include a Limited Review Report, will be published in both English and Tamil newspapers and made available on the company’s website, ensuring compliance with the SEBI (Listing Obligations and Disclosure Requirements) regulations.

The financial overview highlights a net provision of INR 30 million related to trade receivables and trade payables of INR 50 million, which have been linked to alleged irregularities within its subsidiary, Avon Solutions & Logistics Private Limited. An internal investigation is ongoing to address these concerns, which could potentially impact the company’s financial statements. The management has acknowledged that they are currently unable to determine if adjustments are necessary until the investigation concludes. This situation emphasizes the need for transparency and thoroughness in addressing financial discrepancies.

In addition, the company has accounted for the amalgamation of Stanworth Management Private Limited (SMPL) and Tangy Supplies & Solutions Private Limited (TSSPL), which was approved by the National Company Law Tribunal on May 8, 2025. The financial effects of this amalgamation have been retroactively applied, affecting prior periods from April 1, 2024, onwards. The overall financial results show a commitment to regulatory compliance and operational integrity, but the scrutiny around Avon’s transactions raises questions about potential vulnerabilities in the company’s financial practices going forward.