United Drilling Tools Ltd. — Regulatory Filings 2022

Aug 13, 2022

UNITED DRILLING TOOLS LTD.

CIN : L29199DL1985PLC015796 OIL DRILLING EQUIPMENT MANUFACTURING AND SERVICES

Phones : Seam Please Reply to Head Office USE PREFEX FOR CALLING-

Uttar ier Pradesh, Be India ee From out side Country -91-120 . From out side State -0120 E-mail : ENQUIRY@UDTLTD.COM From New Delhi -0120 Website : WWW.UDTLTD.COM 13/08/2022 UDT/SEC/ 2022-23 / BSE-35-NSE-35

To Listing Compliance Department Department of Corporate Service National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, C-1 Block-G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (E), Dalal Street, Mumbai- 400001 Mumbai - 400051 Security ID - 522014 Security ID - UNIDT

Sub: Outcome of Board Meeting

Dear Sir/Madam,

Pursuant to Regulation 30 read with Regulation 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we would like to inform that the meeting of Board of Directors of M/s United Drilling Tools Ltd. (the Company) held on today, the 13 day of August, 2022 at head office of the Company situated at A-22, Phase-II, Noida - 201305, commenced at 01:00 PM and concluded atOl4:25.. (f for inter-alia:-

• e Approved the un-audited (Standalone and Consolidated) Financial Results of the Company for the 1st Quarter ended 30t June, 2022 and Limited Review Report of Auditors thereon.
• ¢ Declared First Interim Dividend @ 6% i.e; Rs. 0.60 paisa per equity share of Rs. 10/- each for the FY 2022-23 on the Equity Share Capital of the Company.
• e Approved the notice of 40! Annual General Meeting to be held on Monday, 26 day of September, 2022 at 11:30 AM through Video Conferencing.
• e The register of members and share transfer books of the Company shall remain closed from Monday, the 19 day of September, 2022 to Monday, the 26' day of September, 2022 (both days inclusive).

Kindly take on record and acknowledge the receipt of the same.

Thanking You,

Yours faithfully For United Drilling Tools Ltd.

— \3\ Naveen Bhatnagar Company Secretary M. No. F-6079

Regd. Office : 139A, First Floor, Antriksh Bhawan, 22 Kasturba Gandhi Marg, New Delhi - 110 001

INDEPENDENT AUDITORT'S LIMITED REVIEW REPORT ON THE UNAUDITED INTERIM FINANCIAL RESULTS FOR THE QUARTER ENDED 30™ JUNE 2021

The Board of Directors United Drilling Tools Limited

• di We have reviewed the accompanying statement of standalone unaudited Financial Results of UNITED DRILLING TOOLS LIMITED (The Company), for the quarter ended 30" June 2022, (the "Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements), Regulations, 2015, as amended.
• 2, The Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34") , prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
• 3, We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedure applied to financial data and this provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying statements prepared in accordance with the aforesaid applicable Indian Accounting Standards ("IND AS") specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under and other accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For RS Dani & Co. Chartered Accountants

(FRN 000243C) ' Ite Mey — ^|

( ASHOK MANGAL ) Partner (M.No.071714) Place : Noida Dated: 13" August, 2022

UDIN - 226H1F/YAOZ BC DEB3S"

UNITED DRILLING TOOLS LIMITED

CIN : L29199DL1985PLC015796 REGD.OFFICE : 139 A, First Floor, Antriksh Bhawan, 22, Kasturba Gandhi Marg, NEW DELHI-110004 E-mail ID: compsect @ udtitd.com, Website: www.udtltd.com Phone No. 0120-4213490, Fax No. 0120-2462674 UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, ²⁰²²

	CIN : L29199DL1985PLC015796 REGD.OFFICE : 139 A, First Floor, Antriksh Bhawan, 22, Kasturba Gandhi Marg, NEW DELHI-110004
	E-mail ID: compsect @ udtitd.com, Website: www.udtltd.com Phone No. 0120-4213490, Fax No. 0120-2462674
	UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2022				{% in Lacs, Except EPS)
Sr. No.	Particulars	30-Jun-22	Quarter ended		Year ended
		Unaudited	34-Mar-22 Audited	30-Jun-24 Unaudited	31-Mar-22 Audited
	Income from Operations
	Revenue from Operations	3,663.80	3,973.53	3,116.33	16,441.89
Il	Other Income	35.87	32.51	60.30	199.84
li	Total Income	3,699.67	4,006.04	3,176.63	16,641.73
iv	Expenses
	Cost of Materiais Consumed	3,314.64	4,540.27	1,060.39	13,397 04
	Purchase of Stock-in- Trade	-
	Changes in Inventories of Finished Goods, WIP & Stock in Trade	(775.53)	(2,367.29)	(340.22)	(6,476.98)
	Employees Benefits Expenses	291,71	255 96	265.57	1,082.14
	Finance Cost	35.96	31.59	26.88	82.10
	Depreciation and Amortisation Expenses	66.24	70.65	60.86	268.59
	Other Expenses	324.34	361.54	169,64	1,124.64
	Total Expenses	3,257.34	2,892.73	1,243.13	9,477.61
Vv	Profit before Exceptional! and and tax	442.33	1,113.31	1,932.50	7,164.22
VI	Exceptional items	-		-	-
VI	Profit before Extraordinary items and tax	442.33	1,113.34	1,932.60	7,164.22
VIN	Extraordinary tem	-			"
IX	Profit Before Tax	442.33	1,113.31	1,932.60	7,164.22
x	Tax Expenses - Current Tax	133.00	373.47	517.44	2,118.92
	- Deferred Tax	(3.03)	(11.01)	2.70	9.79
	~ Earlier Years				-
XI	Profit(Loss) from for the period	312.36	\$10.85	1,412.37	5,035.51
Xl	Other Comprehensive income /{l.oss), net of Income Tax
	a) Item that will not be reclassified to Profit or (L.oss)
	(}} Remeasurement of defined benefit plan (net of income Tax)	(0.42)	4.80	(0.77)	(0.39)
	Total other Comprehensive Income Loss), (net of income Tax)	(0.42)	1.80	(0.74)	(0,39)
Xlll	Total Comprehensive income for the period, net of tax	311.94	812.85	1,411.66	5,035.12

Synth [aeneted ^C

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Sr. No.	Particulars	30-Jun-22	Quarter ended 34-Mar-22		Year ended
		Unaudited	Audited	30-Jun-24 Unaudited	31-Mar-22 Audited
XV	Other Equity				21,951.69
XVI	Earning Per Share ( for Continuing Operations) (a) Basic
	(b) Diluted	1.54	4.00	6.95	24.80
		1.54	4.00	6.95	24.80
Notes
1	The company's business activities falls within a single business segment (Engineering) in terms of Accounting Standard - 17 of ICAI.	UNITED DRILLING TOOLS LIMITED
2	Previous period's figures have been regrouped/rearranged, whereever necessary.
3	The figures for the quarter ended 31st March 2022 being the balancing figure between audited figures in respect of the full financial year and published year to date figures up for the third quarter of the relevent financial year.

				Year ended
				31-Mar-22
Other Equity				Audited
Earning Per Share ( for Continuing Operations)				21,951.69
(a) Basic	1.54	4.00	6.95	24.80
(b) Diluted	1.54	4.00	6.95	24.80
Given the nature of business of the company and product mix in the respective quarter the result of any quarter may not be a true and/or proportionate reflaction of the annual performance of the company, Further quarter to quarter results are also affected by the type of the products manufactured/sold during that quarter,
.www.bseindia.com and www.nseindia .com.
Place : Noida		ered Gs Pramod Kumar Gupta
	Particulars	30-Jun-22 Unaudited UNITED DRILLING TOOLS LIMITED Previous period's figures have been regrouped/rearranged, whereever necessary.	Quarter ended Audited year and published year to date figures up for the third quarter of the relevent financial year.	34-Mar-22 30-Jun-24 Unaudited The company's business activities falls within a single business segment (Engineering) in terms of Accounting Standard - 17 of ICAI. The figures for the quarter ended 31st March 2022 being the balancing figure between audited figures in respect of the full financial The above standalone financial results have been reviewed by the Audit Committee & approved by the Board of Directors at their meeting held on 13th August, 2022. The Statutory Auditor's has carried out " Limited review" of the same. These are being filed with the BSE Ltd. and National Stock Exchange of India Ltd. For more details on unaudited results, visit our website www.udtltd.com For United Drilling Tools Ltd.

Chartered Accountants Kothari Complex, Near GPO, Bhilwara (Raj) 311001 Mobile No. 09351358292 Email —rsdcbh|@gmail.com

INDEPENDENT AUDITORT'S LIMITED REVIEW REPORT ON THE UNAUDITED CONSOLIDATED INTERIM FINANCIAL RESULTS FOR THE QUARTER ENDED 30™ JUNE 2022

The Board of Directors United Drilling Tools Limited

• 1. We have reviewed the unaudited consolidated financial results of United Drilling Tools Limited (the Parent"), its subsidiary (P Mittal Manufacturing Pvt. Ltd.) (the parent and its subsidiaries hereinafter referred to as the "Group"), (refer Note 3 on the Statement) for the quarter ended June 30, 2022 which are included in the accompanying Statement of unaudited consolidated financial results for the quarter ended June 30, 2022 (the Statement"). The Statement is being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations"), as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and has been approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primary of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. The Statement includes the results of the following entities: (a) United Drilling Tools Ltd. (Parent) (b) P Mittal Manufacturing Private Limited (wholly owned subsidiary). Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

R.S.Dani & Co. Chartered Accountants Kothari Complex, Near GPO, Bhilwara (Raj) 311001 Mobile No. 09351358292 Email —rsdcbhi@gmail.com

By The consolidated unaudited financial results includes the interim financial information of one subsidiary which has been reviewed by their auditors, whose interim financial information reflect total revenue of Rs. 48.67 lacs, total net profit after tax of Rs. 3.10 lacs and total comprehensive income of Rs. Nil for the quarter ended June 30, 2022, as considered in the consolidated unaudited financial results. According to the information and explanations given to us by the Management, this interim financial information is not material to the Group. Our conclusion on the Statement is not modified in respect of the above matter.

For RS Dani & Co. Chartered Accountants (FRN 000243C) '

As yaw WY

( ASHOK MANGAL ) Partner (M.No.071714)

Place : Noida Dated: 13" August, 2022

UOIN — 220oH/FYACZRGO tox

UNITED DRILLING TOOLS LIMITED CIN : L29199DL 1985PLC015796

	UNITED DRILLING TOOLS LIMITED
	REGD.OFFICE : 139 A, First Floor, Antriksh Bhawan, 22, Kasturba Gandhi Marg, NEW DELHi-110004	CIN : L29199DL 1985PLC015796
	&-mail 1D: compsect @ udtitd.com, Website: www.udtitd.com	Phone No. 0120-4213490, Fax No. 0120-2462674
	UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2022				(* in Lacs, Except EPS)
a			Quarter ended		Year ended
	Particulars	30-Jun-22 Unaudited	34-Mar-22 Audited	30-Jun-24 Unaudited	34-Mar-22 Audited
	Income from Operations
I	Revenue from Cperations	3712.48	4059.59	3172.99	1748955
i	Other income	35.87	(57.43)	60,30	110.18
v	Total Income	3748.35	4002.16	3233.29	17593.73
iV	Expenses
	Cost of Materials Consumed	3331.57	4609.58	1073.13	14360.43
	Purchase of Stock-in- Trade		-	-	-
	ragnees in Inventories of Finished Goods, WIP & Stock in	(775.53)	(2,367.29)	(340.22)	(6478.98)
	Employees Benefits Expenses	294.24	260.13	272.60	1104.79
	Finance Cost	61.73	34.76	26.89	83.75
	Depreciation and Amortisation Expenses	95.41	83.74	68.38	304 46
	Other Expenses	295.37	361.66	184.98	1076.26
	Total Expenses	3302.79	2979.81	1285.76
V	Profit before Exceptional and and tax	446.56	1022.55	1947.53	10452.72 7147.04
Vi	Exceptional items	-	-	*	-
VIL	Profit before Extraordinary items and tax	445.56	4022.55	1947.53	7147.01
Vill	[Extraordinary Item	-	-	-
iX	{Profit Before Tax	445.56	1022.55	1947.53	7147.01
xX	Fax Expenses - Current Tax	433.50	314,52	579,78	2133.53
	- Deferred Tax - Earlier Years	(3.42)	(9.09}	2.05	10.56
Xl	Profit/(Loss) from for the period	315.48	717.12	1425.70	5002.92
Xl	Other Comprehensive income /{Loss}, net of income Tax		-	-
	a) item that will not be reclassified to Profit or (Loss)
	{i} Remeasurement of defined benefit plan (net of Income	(0.42)	1.80	(0.71)	(0.39)
	rota other Comprehensive Income /{t.oss}, (net of Income Tax)	(0.42)	1.80	(0.71)	(0.39)
XL	Total Comprehensive Income for the period, net of tax	315.07	718.92	1424.99	5002.53
XV	XIV i Paid-up Equity Share Capital (Face Value of Rs. 10/- each} [Other Equity	2030.31	2030.31	2030.34	2030.31
					21922 60

wpa .

			Quarter ended		Year ended
ae	Particulars '	30-Jun-22 Unaudited	34-Mar-22 Audited	30-Jun-21	31-Mar-22
XVI	Earning Per Share ( for Continuing Operations)			Unaudited	Audited
	(a) Basic
	(b) Diluted	1.55 1.55	3.44	7.02
			3.44	7.02	23.94 23.94
Notes		UNITED DRILLING TOOLS LIMITED
1	The company and its subsiadiary's business activities falls within a single business segment (Engineering) in terms of Accounting Standard - 17 of ICAL
2	The figures for the quarter ended 31st March 2022 being the balancing figure between audited figures in respect of the full financial year and published year to date figures up for the third quarter of the relevent financial year.
3	The Statement includes the results of the following entities: (a) United Drilling Tools Ltd. (Parent) (b) P Mittal Manufacturing Pvt. Limited (wholly owned subsidiary).
4	Given the nature of business of the Group companies and product mix in the respective quarter the result of any quarter may not be a true and/or proportionate reflaction of the annual performance of the company. Further quarter to quarter results are also affected by the type of the products manufactured/sold during that quarter.
5	The above consolidated financial results have been reviewed by the Audit Committee & approved by the Board of Directors at their meeting held on 13th August, 2022. The Statutory Auditor's has carried out " Limited review" of the same. These are being filed with the BSE Ltd. and National Stock Exchange of India Ltd. For more details on unaudited results, visit our website www.udtltd.com ,www.bseindia.com and
	www.nseindia .com,		For United Drilling Tools Ltd. "FS erue	Ce
	Place : Noida +: 13.08.2022 Date		Pramod Kumar Gupta Managing Director