United Drilling Tools Secures ₹10.35 Crore Order from ONGC
United Drilling Tools Limited received a domestic order from ONGC for Large OD casing pipe with multi-start connectors. The contract value is ₹10.35 Crore and is to be executed within 6 months.
The order value of ₹10.35 Crore is significant for the company and is expected to contribute to its revenue and growth.
The company has secured a new order from a major client, ONGC, which is a positive development for its business.
United Drilling Tools Limited has announced the receipt of a significant domestic order from Oil and Natural Gas Corporation Limited (ONGC). The order is for the supply of Large OD casing pipe with multi-start connectors, a commercial contract awarded in the ordinary course of business.
The estimated contract value for this order is ₹10,35,50,000 (Rupees Ten Crore Thirty-Five Lakh Fifty Thousand only). The company is expected to execute this order within a period of 6 months from the date of the agreement. Neither the promoter nor the promoter group or their group companies have any interest in ONGC, and the transaction does not fall within related party transactions.
This order further strengthens United Drilling Tools' position in the oil drilling equipment manufacturing and services sector.
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United Drilling Tools Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by United Drilling Tools Limited. Read the original for the full detail.