United Drilling Tools Ltd. (UDTL) (BSE – 522014, NSE – UNIDT) announced that it has recently received UK design patent registration for its Multi-Start Casing Tube Connectors, Jointed Casing Tube Connectors metal-to-metal and its Casing Pipe Connectors weight set which is valid for a period of 5 years.
UDTL has been manufacturing and supplying these connectors under the trade name of UDT Leopard, UDT Swift and UDT Lynx connectors for 15 years and is the sole manufacturer of these connectors in India. UDT already has a significant presence in the upstream Indian Oil & Gas segment and is the sole supplier to major Indian oil PSUs like ONGC & OIL India. Now, recent UK design patent registrations will provide UDT with a much greater opportunity to market and supply its products to the global market which is currently around. Rs. 5000-8000 cr.
UDTL also recently met the requirements of ISO 13679-2019 CAL I, where internal analysis is verified and evaluated by physical testing via internal and external sources. This certification was provided by one of the world’s leading quality assessment companies, ABS Quality Evaluations Inc.
UDTL currently has almost 100% market share of Large Size Box Pipe Connectors in India, which means approx. Rs. 100-150 uh. and with these design records and certificate of conformity from ABS Quality Evaluations, it opened the doors to the world market which is around Rs. 5000-8000 cr. Thus, there are vast opportunities for UDT in the global market and in turn for the customer to have the most cost effective UDT products with global standards.
So far, United Drilling Tools Ltd has filed for 13 design patents, 8 in India and 5 in UK with 5 more pending registration process. UDT has 20 registered trademarks while we have also filed 9 patents.
Shares of United Drilling Tools Limited were last trading in BSE at Rs. 419.10 from the previous close of Rs. 376.30. The total number of shares traded during the day was 17,918 in more than 825 trades.
The action hit an intraday high of Rs. 431.30 and an intraday low of 387.80. The net turnover during the day was Rs. 7,498,540.00.