The said overseas order comprises the supply of Survey Line Winch and Integral Blade Stabilizers, which are critical tools in advanced drilling operations. The delivery of these high-products is scheduled to be completed over a period of six months, aligning with UDTL’s commitment to meeting client requirements with efficiency and excellence.
This order highlights UDTL’s expertise and firm focus on delivering superior products that cater to the evolving needs of the global drilling industry and also marks the beginning of a long-term strategy to expand further into the international market, it added.
The company worked closely with local distributors and partners to ensure that their products aligned with Taiwan’s regulatory standards and consumer preferences.
Manoj Kumar Arora, chief financial officer (CFO), UDTL, “This success is the result of our team's dedication, the thorough market analysis we conducted, and our ability to adapt our offerings to meet local demands. Taiwan is an important market for us, and we are eager to continue growing our footprint in Asia.”
Magitech International is a renowned service provider specializing in vertical and horizontal drilling industries, catering to sectors such as oilfield, geothermal, deep water wells, HDD, pipe jacking, micro tunneling, tunneling, and underground pipeline projects across Taiwan, Thailand, and China.
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 rallied 79.2% to Rs 4.14 crore on 55.6% increase in net sales to Rs 48.85 crore in Q2 FY25 over Q2 FY24.