United Drilling Tools (UDTL) rose 1.41% to Rs 425 after the company said it has received registration for design patents for three products in the UK.
UDTL said 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. The patents are valid for five 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 it is the only manufacturer of these connectors in India. Now the recent design patent registrations in United Kingdom will provide much greater opportunity for UDT to market and supply their products in the global market, which is currently approximately Rs 5000-8000 crore.
UDTL is currently having almost 100% market share of connectors for Large OD casing pipes in India which translates to approximately Rs 100-150 crore. With these design registrations and compliance certificate from ABS Quality Evaluations, it has opened up global market, which is approx Rs 5000-8000 crore.
So far UDTL have 13 design patents registered, 8 in India and 5 in UK and another 5 awaiting for registration process. UDTL has 20 registered trademarks whereas it has also applied for 9 patents.
Net profit of UDTL rose 64.81% to Rs 15.08 crore on 31.80% rise in net sales to Rs 47.99 crore in Q2 September 2021 over Q2 September 2020.
UDTL is worldwide leader in connector technology. It is a leading manufacturer of wire line & well service equipment, gas lift equipment, downhole tools and large OD casing connector in the world.
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