United Drilling wins on bagging UK design patents

0

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.

Powered by Capital Market – Live News

(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor


Source link

Share.

Comments are closed.