The order is for the supply of casing pipes with multi-start connectors to Petrobras, Brazil’s state-owned oil company and has been secured in the ordinary course of business.
The contract is expected to be executed within three months.
In a regulatory filing, the company clarified that none of the promoters, promoter group, or group companies have any interest in the awarding entity.
United Drilling Tools is a leading manufacturer of oil drilling-related equipment in the country. The company has obtained global quality standards for its major products.
The company's consolidated net profit fell 31.8% to Rs 2.96 crore on a 41.8% jump in revenue from operations to Rs 31.67 crore in Q1 FY26 over Q1 FY25.