Stock Report

United Drilling Tools limited - Design Patent Registration

Posted On : 2021-12-29 14:27:55( TIMEZONE : IST )

United Drilling Tools Ltd. (UDTL) (BSE - 522014, NSE - UNIDT) has announced that it has recently received registration for design patents in United Kingdom for their Multi-Start Casing Pipe Connectors, Metal to Metal Seal Casing Pipe Connectors and Weight Set Casing Pipe Connectors which is valid for a period of 5 years.

UDTL has been manufacturing & supplying these connectors with trade name as UDT Leopard, UDT Swift and UDT Lynx connectors from last 15 years and is the only manufacturer of these connectors in India. UDT already has a significant presence in the Indian Oil & Gas upstream segment & is a sole supplier to major Indian oil PSUs like ONGC & OIL India. Now the recent design patent registrations in United Kingdom will provide much greater opportunity for UDT to market & supply their products in the global market which is currently approx. Rs. 5000-8000 cr.

UDTL has also recently passed the requirement set forth for ISO 13679-2019 CAL I, where internal analysis is verified and evaluated by physical testing through internal and external sources. This certification has been provided by one of the world leading quality Evaluation Company which is ABS Quality Evaluations Inc.

UDTL is currently having almost 100% market share of Connectors for Large OD Casing Pipes in India which means to approx. Rs. 100-150 er. and with these design registrations and compliance certificate from ABS Quality Evaluations it has opened up the doors in the world market which is approx Rs. 5000-8000 cr. Thus there exist vast opportunity for UDT in the global market & in turn to the customer to have the most cost effective UDT products with global standards.

So far United Drilling Tools Ltd have 13 design patents registered, 8 in India & 5 in UK and another 5 awaiting for registration process.. UDT has 20 registered trademarks whereas we have also applied for 9 patents.

Shares of United Drilling Tools Limited was last trading in BSE at Rs. 419.10 as compared to the previous close of Rs. 376.30. The total number of shares traded during the day was 17918 in over 825 trades.

The stock hit an intraday high of Rs. 431.30 and intraday low of 387.80. The net turnover during the day was Rs. 7498540.00.