Throughout Tuesday’s buying and selling session, the shares of a micro-cap firm engaged within the manufacturing and sale of oil drilling instruments and gear surged almost 13.7 p.c to Rs. 269.05 on BSE, after securing its first order from Taiwan price $4,82,444 by Magitech Worldwide Restricted.
With a market cap of Rs. 504.2 crores, at 02:17 p.m., the shares of United Drilling Instruments Restricted had been buying and selling within the inexperienced at Rs. 248.35, up by almost 5 p.c, as in comparison with its earlier closing worth of Rs. 236.7.
What’s the information
United Drilling Instruments Restricted, as per the most recent regulatory filings with the inventory exchanges, has introduced receiving its first order from Taiwan, valued at $4,82,444, awarded by Magitech Worldwide Restricted.
This abroad order includes the availability of Survey Line Winches and Integral Blade Stabilizers, that are crucial instruments in superior drilling operations. The supply of those high-quality merchandise is predicted to be accomplished inside six months.
In regards to the Awarding Entity
Magitech Worldwide Restricted is a famend service supplier specializing in vertical and horizontal drilling industries. The corporate serves various sectors, together with oilfields, geothermal power, deep water wells, HDD, pipe jacking, micro-tunneling, tunneling, and underground pipeline tasks, working throughout Taiwan, Thailand, and China.
Earlier Orders
eleventh December 2024: United Drilling Instruments acquired an order price Rs. 148.66 crores from Vedanta Restricted (Cairn Oil & Gasoline). The order concerned the availability of varied sizes of Oil Nation Tubular Items (OCTG) and equipment, together with casing, tubing, pup joints, and X-overs, designed for offshore and deep basin purposes. The order is to be delivered over a interval of three years.
twentieth December 2024: The corporate secured an order, valued at Rs. 55.2 crores, which pertains to giant oil drilling (OD) casing pipes with multi-start connectors, a specialised product line. The order was positioned by ONGC, a reputed public sector enterprise (PSU).
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Financials
United Drilling Instruments reported a major progress in income from operations, experiencing a year-on-year enhance of almost 55.4 p.c, rising from Rs. 31.4 crores in Q2 FY24 to Rs. 48.8 crores in Q2 FY25.
Equally, throughout the identical interval, the corporate’s web revenue elevated from Rs. 2.3 crores to Rs. 4.14 crores, representing a powerful rise of round 80 p.c YoY.
In regards to the firm
United Drilling Instruments Restricted is actively engaged in considered one of India’s pivotal oil and fuel sectors, specializing within the manufacturing and provide of high-quality oil drilling (OD) gear. The corporate is a number one producer of huge OD casing pipes with connectors, wireline & effectively service gear, fuel carry gear, and downhole instruments.
Written by Shivani Singh
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