United Drilling Tools (UDTL) rose 1.41% to Rs 425 after the company said it received design patent registration for three products in the UK.
UDTL said it recently received UK design patent registration for its multi-starter box pipe connectors, metal-to-metal gasket-box pipe connectors and weight-box pipe connectors. Patents are valid for five 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 it is the sole manufacturer of these connectors in 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 crore.
UDTL currently holds an almost 100% market share of connectors for large outside diameter casing pipe in India which translates to around Rs 100-150 crore. With these design records and certificate of conformity from ABS Quality Evaluations, it has opened up the world market, which is around Rs 5000-8000 crore.
So far UDTL has 13 registered design patents, 8 in India and 5 in UK and 5 more pending registration process. The UDTL owns 20 registered trademarks while it has also filed 9 patents.
UDTL net profit rose 64.81% to Rs 15.08 crore on a 31.80% increase in net sales to Rs 47.99 crore in the second quarter of September 2021 compared to the second quarter September 2020.
UDTL is the world leader in connectors. It is a leading manufacturer of line and well service equipment, gas lifting equipment, downhole tools and large outside diameter connectors in the world.
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