+
United Drilling Tools Secures ONGC Order For Blade Stabiliser
ECONOMY & POLICY

United Drilling Tools Secures ONGC Order For Blade Stabiliser

United Drilling Tools Limited (UDTL) has announced that it has received an order from Oil and Natural Gas Corporation Limited (ONGC) for the supply of an integral blade stabiliser including accessories. The company stated the contract was awarded by a domestic entity and described the nature of the work as commercial. The announcement was made pursuant to applicable listing regulations and corporate disclosure requirements.

The order requires delivery in four to five months and covers the manufacture and supply of the specified drilling equipment in the ordinary course of business. The estimated contract value is Rs. 50.36 mn, equivalent to Rs. 50,355,686.80, and will be executed under the terms outlined in the communication to exchanges. The company identified the order as domestic and confirmed that it forms part of regular operations.

United Drilling Tools Limited indicated that there is no interest of the promoter or promoter group in the entity that awarded the contract and that the order does not constitute a related party transaction. The company further confirmed that transactions will be carried out on an arm's length basis and within standard commercial terms. Execution of the order will follow internal controls and compliance processes required for listed entities.

The disclosure was submitted to the stock exchanges for information and record and was signed by the company secretary on behalf of the board. Contact details and corporate office information were provided in the filing for further correspondence. The company reaffirmed that the receipt of the order is expected to contribute to its operational workload over the contract period. The company noted that timely mobilisation of resources and coordination with suppliers will be undertaken to meet the delivery schedule while maintaining quality and regulatory compliance throughout the execution phase and will monitor progress through established reporting mechanisms to the management and stakeholders.

United Drilling Tools Limited (UDTL) has announced that it has received an order from Oil and Natural Gas Corporation Limited (ONGC) for the supply of an integral blade stabiliser including accessories. The company stated the contract was awarded by a domestic entity and described the nature of the work as commercial. The announcement was made pursuant to applicable listing regulations and corporate disclosure requirements. The order requires delivery in four to five months and covers the manufacture and supply of the specified drilling equipment in the ordinary course of business. The estimated contract value is Rs. 50.36 mn, equivalent to Rs. 50,355,686.80, and will be executed under the terms outlined in the communication to exchanges. The company identified the order as domestic and confirmed that it forms part of regular operations. United Drilling Tools Limited indicated that there is no interest of the promoter or promoter group in the entity that awarded the contract and that the order does not constitute a related party transaction. The company further confirmed that transactions will be carried out on an arm's length basis and within standard commercial terms. Execution of the order will follow internal controls and compliance processes required for listed entities. The disclosure was submitted to the stock exchanges for information and record and was signed by the company secretary on behalf of the board. Contact details and corporate office information were provided in the filing for further correspondence. The company reaffirmed that the receipt of the order is expected to contribute to its operational workload over the contract period. The company noted that timely mobilisation of resources and coordination with suppliers will be undertaken to meet the delivery schedule while maintaining quality and regulatory compliance throughout the execution phase and will monitor progress through established reporting mechanisms to the management and stakeholders.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code