United Drilling Tools announced that the Board of Directors of the Company at its meeting held on 14 August 2023, has recommended a First Interim dividend of Rs.0.60 per share (i.e.6%), subject to the approval of the shareholders.
The said offers a significant opportunity to UNDTL to pursue for its product line in near future. Earlier, UDTL has also supplied wireline winches in some other countries such as Malaysia, Nigeria & Vietnam etc. Further, UDTL has bid for orders in the overseas market and has commenced bidding in the oil & gas sector and negotiations are underway with multiple entities.Pramod Kumar Gupta, chairman-cum-managing director, said, “It is a delight to get one of the best overseas order form Mexicos state-owned Ms PEMEX, intergrated oil & gas company. We are expecting some other substantial orders from the international market which will help increase our global market share as well as presence in these untapped markets. This is a major breakthrough in the international market for UDTL and it will help in introducing further products in international markets, resulting in higher growth of UDTL in the forthcoming years. The company continues to strengthen its position as a trusted oil drilling equipment company and still focuses on broadening it product portfolio by reguIar R&Ds and to stay competitive in international markets.” United Drilling Tools is a leading manufacturer of Oil Drilling related Equipments in the country. The company has obtained Global quality standards for its major products.The companys consolidated net profit declined 60.3% to Rs 2.85 crore on 44.8% fall in net sales to Rs 22.42 crore in Q4 FY23 over Q4 FY22.
United Drilling Tools announced that the Board of Directors of the Company at its meeting held on 11 February 2023, has recommended a Second Interim dividend of Rs.0.60 per share (i.e.6%), subject to the approval of the shareholders.