United Drilling Tools Ltd Directors Report

Dear Shareholders / Members,

The Board of Directors is pleased to present the 44^th Annual Report of United Drilling Tools Limited ("UDTL" or the "Company"), which, inter alia, includes the Audited Financial Statements (Standalone and Consolidated) for the financial year ended March 31, 2026 ("FY 2025-26"). The Annual Report has been prepared in accordance with the provisions of the Companies Act, 2013, including amendments thereto currently in force (the "Act"), and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "Listing Regulations"). This Report provides an overview of the financial performance, business operations, and significant developments of the Company and its subsidiaries during the financial year ended March 31, 2026.

1. BUSINESS AND FINANCIAL PERFORMANCE

The Audited Financial Statements of your Company as on March 31, 2026, are prepared in accordance with the relevant applicable Indian Accounting Standards ("Ind AS") and the provisions of the Companies Act, 2013 ("Act").

1.1 Summarized Financial Highlights

	STANDALONE		CONSOLIDATED
Particulars	FY 2025-26	FY 2024-25	FY 2025-26	FY 2024-25
Revenue from Operations	18,195.73	17,215.66	18111.88	16,827.43
Other Income	456.00	292.86	330.40	174.01
Total Income	18,651.73	17,508.52	18442.28	17,001.44
LESS Total Expenses	15,992.69	15,544.92	15757.37	15,013.23
Profit before Tax (PBT)	2,659.04	1,963.60	2684.91	1,988.21
LESS Tax Expenses	783.13	471.68	787.90	485.69
Profit after Tax (PAT)	1,875.91	1,491.92	1,897.01	1,502.52
Other comprehensive Income	12.52	(3.27)	11.83	(3.29)
Total comprehensive Income for the period, net of tax	1,888.43	1,488.65	1908.84	1,499.23

1.2 General Information & State of Companys Affairs

During FY 2025-26, the Company recorded revenue from operations, including other income, of Rs186.52 crores. Profit Before Tax (PBT) stood at Rs26.59 crores, while Profit After Tax (PAT) was Rs18.76 crores. Compared with the previous financial year, revenue, PBT and PAT increased by 5.69%, 35.39% and 25.74%, respectively, reflecting a healthy improvement in the Companys overall financial performance.

The domestic market continued to be the primary contributor to the Companys revenues, accounting for 95.51% of total revenue, excluding operating revenue of Rs18.02 lakhs. Exports contributed the remaining 4.49%. During the year, domestic revenue increased significantly to Rs173.63 crores from Rs140.31 crores in FY 2024-25.

The Company continued to maintain its presence across international markets, with export revenue contributing Rs8.14 crores during FY 2025-26. While the contribution from exports moderated during the year in line with market dynamics and business conditions, the Company remains focused on strengthening its international footprint, deepening relationships with existing customers and identifying new opportunities to support sustainable growth in export markets.

UDTL continues to strengthen its position at the forefront of technological innovation in the oil and gas industry by continuously expanding its product capabilities and adopting advanced technologies. The Companys focus on innovation is aimed at delivering reliable, efficient and application-specific solutions that address the evolving requirements of its customers and enhance operational performance.

During the year, the Company made a significant advancement by entering into the premium connection technology segment. As part of this initiative, UDTL successfully executed a development order for premium connection casing pipes with multi-start connectors for Oil India Limited at Assam. This achievement represents an important milestone in the Companys technological journey and demonstrates its engineering capabilities in developing and delivering specialized casing solutions for demanding oil and gas applications. The successful execution of the development order also provides a strong foundation for the Company to further strengthen its capabilities in premium connection technology and explore opportunities in this specialized segment.

UDTL has built a comprehensive portfolio of products catering to diverse requirements of the oil and gas industry. The Company specializes in large OD casing pipes with multi-start connectors, wireline and slickline winches, gas lift equipment and downhole tools, positioning itself as a single-source solution provider for a wide range of oilfield requirements. The Companys products are developed with a strong emphasis on precision engineering, durability and reliability, and are subjected to rigorous testing and quality controls in line with applicable international standards, including ISO and American Petroleum Institute (API) specifications.

The Companys technological capabilities are supported by a dedicated team of experienced engineers and technical professionals who provide comprehensive support across various stages of product development, deployment and after-sales service. This combination of engineering expertise, product knowledge and customer-focused technical support enables UDTL to provide solutions tailored to the operational requirements of its customers.

UDTLs commitment to technological advancement is further supported by its state-of-the-art manufacturing infrastructure. The Company, together with its wholly-owned subsidiary, operates six manufacturing facilities equipped to manufacture a diverse range of oilfield products while maintaining stringent quality and process standards. The facilities are aligned with various international certifications and standards, including ISO 13679:2019, ISO 9001:2005, ISO 45001:2018 and ISO 14001:2015, along with relevant American Petroleum Institute (API) License No. 5B-0391, 5CT-0565, 5L-0424, 7-1-0393, 7-2-0851, 19G1-0008 and 19G2-0010.

The Company is also progressing towards commissioning its new Greenfield manufacturing facility near Mundra Port, Gujarat. The facility is expected to further enhance manufacturing capacity, technological capabilities and logistical efficiency, while providing a strong platform to support the Companys future growth and product development initiatives.

UDTL continues to broaden its product portfolio through the development and introduction of innovative solutions such as UDT Chaser Subs / Drive Subs, UDT Circulating Head, UDT Crossovers & Pup Joints, UDT Anti-Rotation Device (Shear Tool), UDT Telescopic Mastline Unit and UDT BOP Control System for Truck-Mounted Slickline Winches. The Company has also introduced the UDT Hydraulic Testing Unit for Truck-Mounted Slickline Winches. These developments reflect the Companys ongoing efforts to provide technologically advanced solutions with a focus on operational efficiency, safety and reliability.

During the year, the Company continued to enhance its manufacturing and engineering capabilities across key product categories, including wireline winches and multi-start connectors. The successful development and execution of the premium connection casing pipe with multi-start connector for Oil India Limited further demonstrates the Companys ability to translate its engineering expertise into application-oriented solutions for leading oil and gas companies.

Research and development remains an integral part of UDTLs growth strategy. The Company continues to undertake initiatives aimed at developing new products, expanding existing product ranges and improving product performance. During the year, the Company progressed with the development of additional connector sizes and new winch variants to address diverse customer requirements and emerging market opportunities.

Alongside product and technology development, UDTL continues to strengthen its market presence through strategic business initiatives. The Company has expanded its network of marketing associates in new geographies and actively participated in leading oil and gas industry events and conferences, including India Energy Week.

These initiatives provide valuable opportunities to engage with industry stakeholders, understand emerging requirements and develop new business relationships across domestic and international markets.

UDTL Group has established strong relationships with leading organizations in the oil and gas sector, including ONGC, Oil India, Focus Energy, Jindal Drilling, Welspun, Halliburton, Schlumberger, Shelf Drilling, American Completion Tools Inc., Argentera, Petrobras, Cactus, Baker Hughes, Cairn Oil & Gas (Vedanta), Megitech Energy, Taiwan, Trident Russia and Quippo Energy, among others. The Company serves a diverse customer base comprising government organizations, private sector enterprises and international customers, reflecting the broad applicability of its products and the trust placed in its technological and manufacturing capabilities.

Going forward, UDTL remains focused on strengthening its technology portfolio, expanding its premium connection capabilities, developing innovative oilfield solutions and leveraging its manufacturing and engineering strengths to address emerging opportunities in the global oil and gas industry. The successful execution of the premium connection casing pipe development order marks an important step in this direction and reinforces the Companys commitment to innovation, quality and customer-centric engineering.

2. DIVIDEND

During the year under review, the Board of Directors declared and paid two interim dividends aggregating to 12%, amounting to Rs1.20 per equity share of Rs10 each, in accordance with the Companys Dividend Distribution Policy and applicable provisions of law.

Further, the Board of Directors has recommended a final dividend of 6%, equivalent to Rs0.60 per equity share of Rs10 each, for the financial year under review. The proposed final dividend shall be paid out of the distributable profits of the Company for the year, subject to the approval of the Members at the ensuing Annual General Meeting ("AGM"). The final dividend, if approved by the Members, shall be paid to those shareholders whose names appear in the Register of Members, including the details of Beneficial Owners maintained by the Depositories, as on the Record Date, i.e., September 16, 2026.

The final dividend shall be paid on or after the date specified for such payment, after deduction of Tax Deducted at Source (TDS), wherever applicable, at the rates prescribed under the Income-tax Act, 1961, as amended from time to time.

2.1 Unclaimed Dividends

Details relating to outstanding and unclaimed dividends declared and paid by the Company in earlier years are provided in the Corporate Governance Report, forming an integral part of this Annual Report.

2.2 Investor Education and Protection Fund (IEPF)

The unclaimed and unencashed dividend pertaining to the Financial Year 2018-19 (Interim and Final Dividend) shall be transferred to the Investor Education and Protection Fund (IEPF) on or before the due date prescribed under the applicable provisions of the IEPF Rules.

Further, in accordance with the applicable provisions of the IEPF Rules, equity shares in respect of which dividends have remained unclaimed or unpaid for seven consecutive years shall also be transferred to the IEPF.

The year-wise details of amounts lying in the Unpaid Dividend Account, including the unclaimed or unencashed dividend amounts up to the current year, along with details of the corresponding shares liable for transfer to the IEPF, are provided in the Shareholder Information section of the Corporate Governance Report forming part of this Annual Report. These details are also accessible on your Companys web-site https://udtltd.com/investor-home/ shareholder-information/dividend.

2.3 Dividend Distribution Policy

In accordance with Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing

Regulations"), the Board of Directors of the Company ("Board") has formulated and adopted a Dividend Distribution Policy ("Policy"), setting out the principles and guidelines governing the declaration and distribution of dividends by the Company.

The Policy is available on the Companys website under the Policies section and may be accessed at https://udtltd.com/ policies/.

3. SHARE CAPITAL

During the year under review, there was no change in the authorised share capital of the Company. Further, the Company did not issue any equity shares, including equity shares carrying differential rights with respect to dividend, voting or any other rights. The Company also did not issue any sweat equity shares to its Directors or employees during the year.

As at March 31, 2026, the paid-up equity share capital of the Company stood at Rs20,30,31,260, comprising 2,03,03,126 fully paid-up equity shares of Rs10 each.

4. LISTING

The equity shares of UDTL continue to be listed on the two prominent domestic stock exchanges, namely BSE Limited (BSE) and National Stock Exchange of India Limited (NSE). The Companys shareholders continue to avail the services of both depositories, National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL), facilitating efficient and seamless holding and transfer of securities.

The Company has duly paid the applicable annual listing and depository fees for the Financial Year 2026-27 to the respective stock exchanges and depositories within the prescribed timelines.

5. PUBLIC DEPOSITS

During the financial year under review, the Company did not accept any deposits from the public within the meaning of Sections 73 and 74 of the Companies Act, 2013, read with the Companies (Acceptance of Deposits) Rules, 2014, as amended from time to time.

Accordingly, as at the end of FY 2025-26, there were no outstanding deposits or amounts payable towards principal or interest in respect of deposits accepted from the public.

6. CREDIT RATING

The Companys banking facilities have been assigned a credit rating of BBB/Stable for long-term facilities and A3+ for short-term facilities. The ratings reflect the Companys established credit profile, track record of meeting its financial obligations and continued focus on maintaining sound financial discipline, thereby reinforcing the confidence of its lenders and other stakeholders.

7. CONSOLIDATED FINANCIAL STATEMENTS

The consolidated financial statements of the Company and its subsidiaries for the Financial Year 2025-26 have been prepared in accordance with the applicable provisions of the Companies Act, 2013 ("the Act"), the requirements prescribed under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), and the Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time. The consolidated financial statements have been prepared to ensure compliance with the applicable statutory and regulatory requirements and to present a true and fair view of the financial position and performance of the Company and its subsidiaries.

8. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES

In accordance with the provisions of Sections 129, 134 and 136 of the Companies Act, 2013 ("the Act"), read with the rules made thereunder, and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), the Company has prepared consolidated financial statements comprising the financial statements of the Company and its wholly-owned subsidiary. The statement containing the salient features of the financial statements of the subsidiary, in Form AOC-1, including details of its performance and financial position, forms part of this Annual Report and is provided as "Annexure-1". In accordance with Section 136 of the Act, the audited financial statements of the Company, including the consolidated financial statements, together with the relevant financial information of the subsidiary, are available on the Companys website for the information of the Members. The said documents shall also be available for inspection by the Members during business hours at the Registered Office of the Company up to the date of the ensuing Annual General Meeting.

The Policy for Determining Material Subsidiaries formulated by the Company in accordance with the applicable regulatory requirements is available on the Companys website under the Policies section and may be accessed at https://udtltd.com/policies/.

9. AUDITORS AND THEIR REPORTS

9.1 Statutory Auditors and Statutory Audit Reports

The Members of the Company at 43^rd Annual General Meeting ("AGM") held on September 23, 2025, approved the appointment of M/s A P U & Company, Chartered Accountants (ICAI Firm Registration No. 019542N) as the Statutory Auditors of the Company for a term of one year, commencing from the conclusion of the 43^rd AGM until the conclusion of the 44^th AGM scheduled to be held in the year 2026.

In accordance with the provisions of the Companies Act, 2013 and the rules made thereunder, a statutory audit firm is eligible for appointment for a maximum of two terms of five consecutive years each, subject to the applicable provisions. The present term of M/s A P U & Company expires at the conclusion of the 44^th AGM.

Considering their performance, experience and professional competence during their existing tenure, the Audit Committee and the Board of Directors, after due consideration, have recommended the re-appointment of M/s A P U & Company as Statutory Auditors for a second term of four consecutive years, commencing from the conclusion of the 44^th AGM to be held on September 23, 2026, until the conclusion of the 48^th AGM to be held in the year 2030, subject to the approval of the Members.

The remuneration payable to the Statutory Auditors for the financial year 2025-26 shall be Rs7.5 lakh plus applicable taxes and reimbursement of out-of-pocket expenses. The remuneration for the remaining tenure of their proposed second term shall be mutually agreed between the Board of Directors and M/s A P U & Company from time to time. M/s A P U & Company have confirmed that they are eligible for re-appointment and are not disqualified under the applicable provisions of the Companies Act, 2013 and the rules made thereunder.

The Independent Auditors Report on the Standalone and Consolidated Financial Statements for FY 2025-26 forms part of this Annual Report and does not contain any qualification, reservation, adverse remark or disclaimer. Further, the Statutory Auditors have not reported any fraud under Section 143(12) of the Companies Act, 2013 during the year under review. Accordingly, no disclosure is required under Section 134(3)(ca) of the Act.

The proposal for re-appointment of M/s A P U & Company, together with the requisite details, forms part of the Notice convening the 44^th AGM and is being placed before the Members for their consideration and approval.

9.2. Secretarial Auditors & Secretarial Audit Report

The Members of the Company at 43^rd Annual General Meeting ("AGM") held on September 23, 2025, approved the appointment of M/s Balraj Sharma & Associates, Company Secretaries, as the Secretarial Auditor of the Company for a term of two consecutive years, commencing from the conclusion of the 43^rd AGM until the conclusion of the 45^th AGM to be held in 2027, for conducting the Secretarial Audit for FY 2025-26 and FY 2026-27.

During the year under review, the Company extended all necessary cooperation, assistance and facilities to the Secretarial Auditor for conducting the audit.

The Secretarial Audit Report in Form MR-3 for FY 2025-26 forms part of this Directors Report and is enclosed as

"Annexure-2".

9.3 Internal Auditor & Internal Audit Reports

During the year under review, pursuant to the provisions of Section 138 of the Companies Act, 2013 ("the Act") and the applicable provisions of the SEBI Listing Regulations, M/s Grover Lalla & Mehta, Chartered Accountants (ICAI FRN: 002830N), represented by Mr. Pankaj Bansal, were appointed as the Internal Auditors of the Company for the Financial Year 2025-26.

M/s Grover Lalla & Mehta, Chartered Accountants, bring relevant experience and professional expertise in the areas of Taxation, Finance and Accounts, enabling them to effectively discharge their responsibilities as Internal Auditors. Their appointment further supports the Companys commitment to maintaining robust internal controls, sound financial management practices and high standards of corporate governance.

During the year, the Internal Auditors submitted their quarterly reports to the Audit Committee for its review and consideration. The reports submitted by the Internal Auditors did not contain any qualification, reservation or adverse remark.

9.4 Cost Auditors, Cost Records and Cost Audit Report

During the year under review, the Company complied with the requirements of Section 148(1) of the Companies Act, 2013 ("the Act") by maintaining the prescribed cost accounts and records in accordance with the applicable rules and requirements notified by the Central Government.

The cost accounts and records maintained by the Company for the Financial Year 2025-26 were duly audited by M/s Swati Chaturvedi, Practicing Cost Accountants (Firm Registration No. 100664), appointed as the Cost Auditors of the Company. The Cost Auditor has completed the audit of the cost records of the Company for FY 2025-26. The Cost Audit Report did not contain any qualification, reservation, adverse remark or adverse observation, reflecting the Companys compliance with the applicable requirements relating to maintenance of cost records.

The Board of Directors has also re-appointed M/s Swati Chaturvedi, Practicing Cost Accountants (Firm Registration No. 100664) as the Cost Auditors of the Company for the Financial Year 2026-27 to conduct the cost audit in accordance with the applicable statutory and regulatory requirements. A resolution seeking the approval of the Members for rati_cation of the remuneration payable to the

Cost Auditors for FY 2026-27 has been included in the Notice convening the ensuing Annual General Meeting ("AGM").

The Company has duly maintained the cost accounts and records as prescribed under Section 148(1) of the Act and the rules made thereunder.

9.5 Annual Secretarial Compliance Report

During the financial year under review, the Company undertook a comprehensive review of applicable statutory and regulatory compliances in accordance with Regulation 24A of the SEBI Listing Regulations read with the applicable circulars and guidelines issued thereunder.

The Annual Secretarial Compliance Report for the Financial Year ended March 31, 2026, issued by M/s Agrawal Manish Kumar & Co., Practicing Company Secretaries, was duly submitted to the Stock Exchanges in accordance with the applicable provisions of the SEBI Listing Regulations and has also been made available on the Companys website at www.udtltd.com.

9.6 Reporting of Frauds by Auditors

During FY 2025-26, the Statutory Auditors, Internal Auditors and Secretarial Auditors of the Company have not reported any instance of fraud committed by the officers or employees of the Company to the Audit Committee under Section 143(12) of the Companies Act, 2013, read with the rules made thereunder.

Accordingly, there were no matters relating to fraud reported by the aforesaid auditors requiring consideration or reporting by the Audit Committee during the financial year under review.

10. CFO CERTIFICATION

Pursuant to Regulation 17(8) read with Schedule II, Part B of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), the Managing Director and Chief Financial Officer ("CFO") of the Company have provided the requisite certification confirming, inter alia, the accuracy and correctness of the Standalone and Consolidated Financial Statements and Cash Flow Statements of the Company for the year ended March 31, 2026, along with the adequacy and effectiveness of the internal control measures relating to financial reporting. The certificate dated August 10, 2026, issued by the Managing Director and CFO, forms an integral part of this Annual Report and is enclosed as "Annexure-3".

11. DECLARATION REGARDING COMPLIANCE BY BOARD MEMBERS AND SENIOR MANAGEMENT PERSONNEL WITH THE COMPANYS CODE OF CONDUCT

The Company has adopted a comprehensive Code of Conduct applicable to its employees, including the

Managing Director, Executive Directors, Non-Executive Directors and Independent Directors. The Code is designed to promote ethical conduct, integrity, accountability and responsible business practices across the organisation.

In accordance with the applicable provisions of the SEBI Listing Regulations, 2015, the Company has received a compliance confirmation certificate from the Managing Director confirming adherence to the Code of Conduct during the relevant period. The certificate dated August 10, 2026 forms part of this Annual Report and is enclosed as

"Annexure-4".

12. CERTIFICATE ON NON-DISQUALIFICATION OF DIRECTORS

None of the Directors of the Company, who were on the Board during the Financial Year ended March 31, 2026, have been debarred or disqualified from being appointed or continuing to act as Directors of the Company under the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations.

The Company has received a certificate dated August 03, 2026, from a Practicing Company Secretary, confirming that none of the Directors of the Company is disqualified or debarred from being appointed or continuing as a Director. The said certificate forms part of this Annual Report and is enclosed as "Annexure-5".

13. CORPORATE SOCIAL RESPONSIBILITY

During the year under review, the Company has duly complied with the provisions of Section 135 of the Companies Act, 2013 ("the Act") and has spent an amount equivalent to 2% of the average net profits of the Company for the three immediately preceding financial years towards its Corporate Social Responsibility ("CSR") obligations. In accordance with the provisions of Section 135 of the Act, as amended from time to time, read with the applicable notifications and rules issued by the Ministry of Corporate Affairs ("MCA"), the Company has reviewed and updated its Corporate Social Responsibility Policy to align with the applicable statutory requirements.

A brief outline of the CSR Policy, together with the details of the CSR initiatives undertaken by the Company and the disclosures prescribed under the Companies (Corporate Social Responsibility Policy) Rules, 2014, is provided in "Annexure-6" to this Report and forms an integral part thereof.

The CSR Policy is available on the website of the Company i.e; https://udtltd.com/policies/.

14. MANAGEMENTS DISCUSSION AND ANALYSIS REPORT

In accordance with Regulation 34 of the SEBI Listing Regulations, the Management Discussion and Analysis

("MD&A") Report for the financial year under review has been presented as a separate section of this Annual Report.

The MD&A Report provides an overview of the Companys business performance, industry trends, operational developments, financial performance and key opportunities and challenges during the year under review. The same forms an integral part of this Annual Report and is enclosed as "Annexure-7".

15. CORPORATE GOVERNANCE

We remain committed to upholding the highest standards of Corporate Governance, transparency, accountability and ethical business practices. The Company continuously strives to strengthen its governance framework and ensure adherence to the applicable requirements prescribed under the SEBI listing Regulations and other applicable laws. The Company believes that sound corporate governance practices are fundamental to building long-term stakeholder confidence and supporting sustainable growth. Accordingly, the Company continues to adopt and implement appropriate governance practices with a focus on transparency, responsible decision-making and protection of stakeholders interests.

Pursuant to Regulation 34(3) read with Schedule V of the SEBI Listing Regulations, the Corporate Governance Report, together with the Certificate issued by the Practicing Company Secretary confirming compliance with the applicable Corporate Governance requirements, forms an integral part of this Annual Report and is provided as

"Annexure-8" and "Annexure-9", respectively.

16. PARTICULARS OF EMPLOYEES AND REMUNERATION

The disclosures relating to remuneration and other particulars as prescribed under Section 197(12) of the Companies Act, 2013 ("the Act"), read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are set out in "Annexure-10" to this Report and form an integral part thereof.

Further, the statement containing the particulars of the top ten employees, together with the other prescribed employee-related disclosures required under Section 197(12) of the Act, read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided as a separate Annexure forming part of this Report.

17. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The Company remains committed to the responsible and efficient use of energy across its manufacturing facilities, while maintaining a strong focus on environmental stewardship and sustainable operations. Energy conservation initiatives are undertaken through the optimisation of electricity and fossil fuel consumption, improvement in energy efficiency and enhancement of overall energy productivity. These measures not only contribute to operational efficiency and cost optimisation but also support the Companys efforts towards reducing its environmental footprint and mitigating greenhouse gas emissions.

In accordance with the requirements of Section 134(3)(m) of the Companies Act, 2013 ("the Act"), read with Rule 8 of the Companies (Accounts) Rules, 2014, the prescribed particulars relating to conservation of energy, technology absorption, foreign exchange earnings and foreign exchange outgo are provided in "Annexure-11" to this Report and form an integral part thereof.

18. BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT

Pursuant to Regulation 34(2)(f) of the SEBI Listing Regulations, the Companys initiatives and performance from an Environmental, Social and Governance ("ESG") perspective for the financial year under review are presented in the Business Responsibility and Sustainability Report ("BRSR"). The BRSR has been prepared in accordance with the format and disclosure requirements prescribed by the SEBI including the applicable provisions and circulars issued from time to time.

The BRSR, containing details of the Companys ESG initiatives, practices and performance, forms an integral part of this Annual Report and is provided as "Annexure-12".

19. RELATED PARTY TRANSACTIONS

The Board of Directors of the Company has formulated and adopted a policy and framework governing Related Party Transactions ("RPTs"), with the objective of ensuring that such transactions are undertaken in a transparent manner and in the best interests of the Company and its stakeholders.

During FY 2025-26, all transactions entered into by the Company with related parties were undertaken in the ordinary course of business and on an arms length basis. The transactions were reviewed and recommended by the Audit Committee in accordance with the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations. Further, all material related party transactions and material modifications thereto, wherever applicable, were undertaken only after obtaining the requisite approval of the Members of the Company.

During the year under review, the Company did not enter into any related party transaction that could be considered prejudicial to the interests of the Company or its minority shareholders.

The Audit Committee comprises entirely of Independent Directors. Members of the Audit Committee abstained from participating in discussions and voting on matters relating to transactions in which they had a direct or indirect interest, in accordance with the applicable provisions and governance practices.

The particulars of contracts or arrangements entered into by the Company with related parties, as referred to in Section 188(1) of the Companies Act, 2013, are provided in Form AOC-2, which is annexed to this Report as "Annexure-13". Pursuant to Regulation 23 of the SEBI Listing Regulations, the Company has submitted the prescribed half-yearly disclosures of Related Party Transactions to the Stock Exchanges within the stipulated timelines.

The details of Related Party Transactions undertaken during the year are disclosed in the Standalone Financial Statements forming part of this Annual Report.

The Policy on Materiality of Related Party Transactions and dealing with Related Party Transactions, as approved by the Board of Directors, is available on the Companys website under the Policies section and may be accessed at https:// udtltd.com/policies/.

20. INTERNAL FINANCIAL CONTROL, AUDIT SYSTEMS AND THEIR ADEQUACY

The Company has established and maintained adequate internal financial control systems commensurate with the size, scale and complexity of its operations. These controls are designed to support the orderly and efficient conduct of the Companys business, ensure adherence to applicable policies and procedures, safeguard its assets, prevent and detect frauds and errors, maintain the accuracy and completeness of accounting records, and facilitate the timely preparation of reliable financial information.

Internal Control over Financial Reporting ("ICFR") forms an integral part of the Companys overall internal control framework and plays an important role in maintaining the integrity, reliability and transparency of financial reporting. The Company continuously endeavours to strengthen its internal control environment and align its practices with evolving industry standards and best practices.

As part of its Internal Audit Programme, the Company periodically evaluates the design and operating effectiveness of various internal controls across its business processes. Areas requiring improvement are identified and reviewed on a timely basis, with appropriate corrective and remedial measures undertaken to strengthen the control environment. The Internal Audit Plan is aligned with the Companys business objectives and is reviewed and approved by the Audit Committee.

The Audit Committee also reviews and monitors the adequacy and effectiveness of the Companys internal control framework, including the implementation of recommendations arising from internal audits, thereby ensuring continuous improvement in the Companys internal control processes.

21. ANNUAL RETURN

Pursuant to the provisions of Section 92(3) of the Companies Act, 2013 ("the Act"), read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the Annual Return of the Company for FY 2025-26 has been filed and made available on the Companys website i.e; https://udtltd. com/annualreturn/.

22. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has formulated and implemented a comprehensive Whistle Blower Policy in accordance with the provisions of Sections 177(9) and 177(10) of the Companies Act, 2013 ("the Act") and Regulation 22 of the SEBI Listing Regulations.

The Policy provides a structured mechanism enabling Directors, employees and other stakeholders to raise concerns, in good faith, regarding actual or suspected fraud, misconduct, unethical practices, violations of applicable laws, or other concerns relating to the Companys operations. The mechanism facilitates direct communication of such concerns to the Audit Committee, as appropriate, while maintaining confidentiality to the extent practicable. The Company is committed to ensuring that persons who raise genuine concerns through the mechanism are protected against any form of victimisation, retaliation or adverse action. The Policy is intended to foster a culture of transparency, integrity and accountability across the organisation.

The Whistle Blower Policy is available on the Companys website under the Policies section and may be accessed at https://udtltd.com/policies/.

23. CYBER SECURITY

In view of the evolving cyber threat landscape and the increasing incidence of cyber-attacks, the Company continues to place strong emphasis on cyber security, data protection and resilience. The Company periodically reviews its cyber security maturity and continuously strengthens its processes, systems and technological controls to address emerging threats and enhance the overall security posture. The Companys technology infrastructure is supported by real-time security monitoring and a multi-layered control framework covering critical areas including end-user devices, networks, applications and data protection. These measures are designed to strengthen the Companys ability to identify, monitor and respond to potential cyber security risks in a timely manner.

During the year under review, the Company did not experience any material cyber security incident, breach or loss of data. The Company remains committed to continuously enhancing its cyber security framework and adopting appropriate measures to safeguard its information assets and business operations against evolving cyber risks.

24. PROHIBITION OF INSIDER TRADING

In accordance with the provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time ("PIT Regulations"), the Company has adopted and implemented a revised "Code of Conduct to Regulate, Monitor and Report Trading by Insiders" ("Code").

The Code is applicable to all Directors, Designated Persons and Connected Persons of the Company, as well as their respective Immediate Relatives, who may have access to Unpublished Price Sensitive Information ("UPSI") relating to the Company. The Code establishes appropriate procedures and controls to regulate, monitor and report trading in the Companys securities and to ensure compliance with the applicable insider trading requirements.

In compliance with the PIT Regulations and the applicable circulars and guidelines issued by the SEBI and the Stock Exchanges from time to time, the Company has implemented a Structured Digital Database ("SDD") system for maintaining and monitoring records relating to the sharing and access of UPSI. The Company has duly captured the requisite information relating to UPSI in the SDD in accordance with the applicable regulatory requirements.

The Company has also formulated and implemented a "Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information" in accordance with the PIT Regulations. The Code is intended to promote fair, transparent and timely disclosure of UPSI and ensure equitable treatment of all stakeholders.

The aforesaid Codes are available on the website of the Company i.e; https://udtltd.com/code-of-conduct/.

25. PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED

The particulars of loans given, investments made, guarantees provided and securities furnished by the Company during the year under review, together with the purpose for which such loans, guarantees or securities were proposed to be utilised by the respective recipients, are disclosed in the Standalone Financial Statements forming part of this Annual Report.

Members are requested to refer to the relevant Notes to the Standalone Financial Statements for detailed information in this regard.

26. DIRECTORS AND KEY MANAGERIAL PERSONNEL

26.1 Board of Directors

As at March 31, 2026, the Board of Directors of the Company comprised seven Directors, consisting of two Executive Directors, four Independent Non-Executive Directors, and one Non-Independent Non-Executive Director, in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations. The composition of the Board provides an appropriate balance between Executive and Non-Executive Directors and supports effective governance and oversight.

Subsequent to the close of the financial year, there has been one change in the composition of the Board. Mr. Pandian Kalyanasundaram (DIN: 02568099) ceased to be a Non-Executive Independent Director of the Company upon completion of his tenure with effect from May 20, 2026. The Board places on record its appreciation for the valuable guidance and contribution made by Mr. Pandian Kalyanasundaram during his tenure as an Independent Director.

The composition of the Board of Directors at the end of FY26 was as under:-

Mr. Pramod Kumar Gupta	Chairman-cum-Non- Executive Director
Mr. Kanal Gupta	Managing Director
Mr. Inderpal Sharma	Executive Director
Mrs. Preet Verma	Independent Women Director
Mr. Pandian Kalyanasundaram	Independent Director
Mr. Ved Prakash Mahawar	Independent Director
Mr. Khitish Kumar Nayak	Independent Director

Furthermore, pursuant to Section 152 of the Companies Act and the Articles of Association of the Company, Shri Inderpal Sharma (DIN – 07649251) Director, is due to retire by rotation at the upcoming Annual General Meeting. Shri Inderpal Sharma is eligible for re-appointment and has offered himself for re-election at the said Annual General Meeting. His reappointment is subject to the approval of the members and is detailed in the notice of the 44^th AGM. Relevant information concerning the Directors reappointment, as required under Para 1.2.5 of the Secretarial Standards on General Meetings and Regulation 36(3) of the Listing Regulations, has been provided in the AGM notice.

26.2 Declaration from Independent Directors

Your Company has received declarations from all the Independent Directors of your Company confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1)

(b) of the SEBI Listing Regulations and there has been status as an Independent Director during the FY 2025-26. The Independent Directors have also given declaration of compliance with Rules 6(1) and 6(2) of the Companies (Appointment and Qualification of Directors) Rules, 2014, with respect to their name appearing in the data bank of Independent Directors maintained by the Indian Institute of Corporate Affairs.

All Independent Directors of the Company have afirmed compliance with the Schedule IV of the Act and Companys Code of Conduct for Directors and Employees for the FY 2025-26.

Further, all the members of Board have declared their equity shares holding as well as interest in the Company as per requirement of Companies Act, 2013 and Listing Regulations.

26.3 Board Familiarisation and Training Programme

The Company has adopted a Familiarisation Programme for Independent Directors with the objective of familiarising them with the Companys business, operations, strategies, policies, processes and other relevant aspects of its functioning. The programme is designed to enable the Independent Directors to effectively discharge their roles, responsibilities and duties.

The familiarisation programme also provides for periodic updates to the Independent Directors on significant developments, changes in the business environment, regulatory matters, business performance and other matters relevant to the Company, thereby enabling them to take informed and timely decisions in the best interests of the Company and its stakeholders.

The details of the Familiarisation Programme imparted to the Independent Directors are made available on the Companys website https://udtltd.com/policies/.

26.4 Key Managerial Personnel

As on the date of this report, in terms of the provisions of Section 203 & 2(51) of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the following are the Key Managerial Personnel of the Company as on the date of report:

Mr. Kanal Gupta	Managing Director
Mr. Inderpal Sharma	Executive Director
Mr. Manoj Kumar Arora	Chief Financial Officer
Mr. Anand Kumar Mishra	Company Secretary & Compliance Officer

The remuneration and other details of these KMPs for the FY26 are provided in the Corporate Governance Report which forms part of this report.

26.5 Committees of the Board & their Meetings

As on March 31, 2026, in compliance with applicable laws, rules and regulations, as also for other purposes, your Board has constituted the following committees / subcommittees:-

• Audit Committee

• Nomination and Remuneration Committee (NRC)

• Stakeholders Relationship Committee (SRC)

• Corporate Social Responsibility Committee (CSR)

• Risk Management Committee (RMC)

The composition of the Committee(s) of the Board was in conformity with the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations, 2015. The details regarding the composition of the Committees and the meetings held during FY 2025-26 are provided in the Corporate Governance Report, which forms an integral part of this Report.

26.6 Meetings of Board of Directors

During the year under review, the Board of Directors met four (4) times. The gap between any two consecutive Board Meetings did not exceed 120 days. The meetings of the Board of Directors were held on May 29, 2025, August 12, 2025, November 12, 2025 and February 14, 2026.

The composition of the Board of Directors during the financial year ended March 31, 2026 was in conformity with the applicable provisions of Regulation 17 of the SEBI Listing Regulations, 2015 read with Section 149 of the Companies Act, 2013.

The Board Meetings were convened and conducted in compliance with the applicable provisions of the Companies Act, 2013, the SEBI Listing Regulations and the Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI). The details regarding the attendance of Directors at the Board Meetings and other relevant particulars for FY_ 2025-26 are provided in the Corporate Governance Report, which forms an integral part of this Report.

26.7 Meetings of Independent Directors

In accordance with Section 149(8) read with Schedule IV and other applicable provisions of the Companies Act, 2013, as well as Regulation 25(3) of the SEBI Listing Regulations, 2015, a separate meeting of the Independent Directors of the Company was held on February 14, 2026.

The meeting was attended by Mrs. Preet Verma, Mr. Pandian Kalyanasundaram, Mr. Khitish Kumar Nayak and Mr. Ved Prakash Mahawar, Independent Directors of the Company. The meeting was conducted in the absence of the Non-Independent Directors, Executive Directors and members of the management, inter alia, to:

• Review the performance of Non-Independent Directors, the Board as a whole and that of its various Committees constituted;

• Review the performance of the Chairperson of the Company, taking into account the views of Executive Director/s and Non-Executive Director/s; and

• Assess the quality, content and timeliness of flow of information between the Company Management and the Board which is necessary for the Board to effectively and reasonably perform its duties.

26.8 Performance Evaluation of Board and Effectiveness

Pursuant to the applicable provisions of the Companies Act, 2013 ("Act"), the SEBI Listing Regulations and the Guidance Note on Board Evaluation issued by SEBI, the Board of Directors carried out an annual performance evaluation of the Board as a whole, its Committees and individual Directors at its meeting held on February 14, 2026. The evaluation was conducted on the basis of a structured questionnaire covering various aspects of the Boards functioning, effectiveness and performance.

During FY 2025-26, all the Independent Directors participated in the evaluation process and expressed their satisfaction with regard to the integrity, expertise, experience and pro_ciency of the Independent Directors. The Nomination and Remuneration Committee has laid down the evaluation criteria for assessing the performance of individual Directors, the Board as a whole and its Committees.

The evaluation process reaffirmed that the Board as a whole, its Chairperson, individual Directors and the Committees of the Board continued to demonstrate a strong commitment to good corporate governance. The Board and its Committees remained focused on the continuous improvement of processes and procedures and contributed effectively towards the overall growth and development of the Company.

27. DIRECTORS APPOINTMENT AND REMUNERATION POLICY:

On the recommendation of the Nomination and Remuneration Committee ("NRC"), the Company has formulated and adopted a Nomination and Remuneration Policy in accordance with the provisions of Section 178 of the Companies Act, 2013 ("the Act") and the applicable regulatory requirements.

The Policy lays down the broad principles and criteria governing the appointment, cessation, remuneration and performance evaluation of Directors, Key Managerial Personnel ("KMP") and Senior Management Personnel of the Company. It is designed to ensure that the Companys remuneration and appointment practices remain aligned with its business objectives, governance standards and long-term interests of stakeholders.

The Non-Executive Independent Directors are paid sitting fees, within the limits prescribed under the Act, at a fixed rate for each meeting attended by them. Accordingly, such sitting fees are not directly comparable with the remuneration paid to other employees of the Company.

Except for the sitting fees payable in accordance with the applicable provisions of the Companies Act, 2013, no remuneration or perquisites were paid to the Non-Executive Independent Directors during the year under review. Notwithstanding the foregoing, the Company has entered into a Consultancy Agreement with M/s Oil Drilling Consultancy Services, proprietor Shri Pramod Kumar Gupta, Non-Executive Non-Independent Director, pursuant to which consultancy fees are payable in accordance with the terms of the agreement and the requisite approval of the Members of the Company.

Save as aforesaid, no other service contract or arrangement has been entered into with any Non-Executive or Independent Director during the year under review. The Nomination & Remuneration Policy of the Company is available on the website of the Company i.e; https://udtltd. com/policies/.

28. SECRETARIAL STANDARDS AND INDIAN ACCOUNTING STANDARDS

The Board of Directors affirms that the Company has complied, in all material respects, with the applicable Secretarial Standards issued by the Institute of Company Secretaries of India, including SS-1 on Meetings of the Board of Directors and SS-2 on General Meetings, as applicable during the year under review.

The Company has also complied with the applicable Indian Accounting Standards (Ind AS) while preparing its financial statements for the financial year under review.

29. GREEN INITIATIVE & ELECTRONIC DISPATCH OF ANNUAL REPORT

The Ministry of Corporate Affairs ("MCA"), Government of India, has introduced the "Green Initiative in Corporate Governance" vide Circular Nos. 17/2011 dated April 21, 2011 and 18/2011 dated April 29, 2011, enabling companies to provide statutory documents, including notices of Annual General Meetings ("AGM") / Extra-ordinary General Meetings, audited financial statements and Directors Reports, in electronic form to shareholders at their email addresses registered with their Depository Participants ("DPs"). Further, pursuant to the applicable General Circulars issued by the MCA from time to time, including General Circular No. 20/2020 dated May 5, 2020, read with subsequent circulars, the latest being General Circular No. 03/2025 dated September 22, 2025 (collectively, the "MCA Circulars"), companies have been permitted to convene AGMs through Video Conferencing ("VC") or Other Audio-Visual Means ("OAVM"), without the physical presence of Members at a common venue.

In accordance with the MCA Circulars and the applicable circulars issued by the Securities and Exchange Board of India ("SEBI"), the AGM of the Company is being convened through VC/OAVM, without the physical presence of Members at a common venue. The Registered Office of the Company shall be deemed to be the venue of the AGM for the purpose of the meeting.

In keeping with the spirit of the Green Initiative and in compliance with the applicable regulatory requirements, the Notice of the AGM, together with the Annual Accounts and Annual Report for FY 2025-26, is being sent ONLY through electronic mode to those Members whose email addresses are registered with the Company, Registrar and Transfer Agent ("RTA"), Depositories or Depository Participants, as applicable.

Members who have not registered their email addresses with the Company/RTA/Depositories/Depository Participants will be sent a communication by the Company containing the web-link and the exact path/location through which the complete Annual Report, including the Notice of the AGM and other relevant documents, can be accessed electronically.

The Notice of the AGM and Annual Report for FY 2025-26 are also available on the Companys website at www.udtltd. com and on the websites of the Stock Exchanges, namely BSE Limited and National Stock Exchange of India Limited.

30. RISK MANAGEMENT

Risk management forms an integral part of the Companys corporate governance framework. The Board of Directors has constituted a Risk Management Committee ("RMC") to assist in overseeing the Companys risk management framework, evaluating key risks, monitoring mitigation measures and carrying out such other functions as may be entrusted by the Board.

The Companys risk management framework provides a structured approach for the identification, assessment, prioritisation, mitigation and monitoring of material risks that may affect its strategic objectives, reputation, business continuity, operations, regulatory compliance, environment, and the health and safety of its employees.

The Company has formulated and adopted a Risk Management Policy in accordance with Section 134(3)(n) of the Companies Act, 2013 and Regulation 17(9) of the SEBI Listing Regulations. The Policy is available on the Companys website at https://udtltd.com/policies/.

As part of its risk mitigation strategy, the Company continues to focus on diversifying its product portfolio, services, markets and customer base. Within the Industrial & Engineering segment, the Company is also taking steps to reduce dependence on contract manufacturing by expanding its own product portfolio and strengthening its brand presence.

A detailed discussion on the Companys key risks, opportunities and mitigation measures is provided in the Management Discussion and Analysis Report, forming an integral part of this Annual Report.

31. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Act, your Board, to the best of their knowledge and based on the information and explanations received from the management of your Company, confirm that:

• In the preparation of the Annual Financial Statements for the year ended March 31, 2026, the applicable accounting standards have been followed and there are no material departures;

• such accounting policies applied consistently and judgments and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year March 31, 2026 and of the profit of UDTL for the year ended on that period;

• proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

• the annual financial Statement for FY 2025-26 were prepared on a Going Concern basis;

• they have laid down internal financial controls to be followed by your Company and that such internal financial controls are adequate and operating effectively;

• devised the proper system to ensure compliance with the provisions of all applicable laws and that such and were adequate and operating effectively.

32. PREVENTION OF SEXUAL HARASSMENT

The Company has adopted a comprehensive Policy on Prevention, Prohibition and Redressal of Sexual Harassment at Workplace in accordance with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 ("POSH Act") and the rules made thereunder.

An Internal Committee has been constituted in accordance with the applicable provisions of the POSH Act to receive, examine and address complaints relating to sexual harassment at the workplace. The Company also conducts appropriate orientation and awareness sessions on its POSH Policy for new employees as part of the induction process. The Company is committed to fostering a safe, inclusive and respectful workplace where every employee is treated with dignity, fairness and respect, without discrimination on the basis of gender, race, social status, caste, creed, religion, place of origin, sexual orientation, disability or economic status.

The POSH Policy is applicable to all employees of the Company, and the Company remains committed to maintaining a workplace free from sexual harassment and ensuring appropriate redressal of any genuine concerns in accordance with applicable law.

The details of complaints received and disposed-o_ during the FY26 is as follows:

Particulars	Status
1. Number of Sexual Harassment Complaints received	0
2. Number of Sexual Harassment Complaints disposed off	0
3. Number of Sexual Harassment Complaints pending beyond 90 days	0

33. OTHER STATUTORY DISCLOSURE

During the FY 2025-26, there were no transaction requiring disclosure or reporting in respect of matters relating to:

• No material changes and commitment, affecting the financial position of the Company which occurred between the end of FY26 till the date of this Report.

• No instance of any one-time settlement with any Banks or Financial Institutions.

• No application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016.

• No significant and material orders passed by the Regulators/ Courts/Tribunals which impact the going concern status and Companys operations in future.

• UDTL has not issued any Equity Shares including with Di_erential Voting Rights / Sweat Equity Shares.

• No occasion for revision in the Financial Statements for the year under report.

• No change in the nature of business of UDTL as on the date of this Report.

• No remuneration or commission to the Whole-time Director/ Managing Director of the Company from the subsidiaries of the Company.

• None of the Independent / Non- Executive Directors have any pecuniary relationship or transactions with the Company which in the judgement of the Board may affect the independence of the Directors.

• No transfer any amount to General Reserves of the Company, due to enhancing shareholders value.

• The Company has duly complied with the provisions of the Maternity Benefit Act, 1961, extending all statutory benefits to eligible women employees.

34. CAUTIONARY STATEMENT

UDTL is engaged in the manufacture of oil drilling tools and equipment, which are primarily used in the oil and gas industry. Accordingly, the Companys business prospects and performance are, inter alia, dependent upon developments in the domestic and global oil and gas sector.

Certain statements contained in the Directors Report, Business Responsibility and Sustainability Report, Management Discussion and Analysis Report, Standalone and Consolidated Financial Statements, and the annexures thereto, including statements relating to future plans, projections, estimates, expectations and anticipated performance, may constitute "forward-looking statements" within the meaning of applicable laws and regulations, including the regulations issued by the Securities and Exchange Board of India ("SEBI").

Such forward-looking statements are based on the Companys present expectations, estimates, assumptions and projections and are subject to various risks, uncertainties and other factors, many of which are beyond the Companys control. Accordingly, actual results, performance or achievements may differ materially from those expressed or implied in such statements.

Factors that may cause actual results to differ materially include, inter alia, changes in domestic and global demand and supply conditions; volatility in finished product prices; availability and cost of raw materials; cyclical fluctuations in demand and pricing in the Companys principal markets; changes in governmental policies, laws and regulations; changes in taxation regimes; macroeconomic and business conditions in India and other jurisdictions in which the Company operates; litigation and labour-related matters; and other economic, commercial, regulatory or operational risks.

The Company does not undertake any obligation to publicly update, revise, amend or otherwise modify any forward-looking statement to reflect subsequent events, developments, information or circumstances, except to the extent required under applicable laws and regulations. Readers are accordingly cautioned not to place undue reliance on such forward-looking statements.

35. ACKNOWLEDGEMENTS

The Board of Directors places on record its sincere appreciation to the Members, bankers and financial institutions for their continued confidence, cooperation and support, and looks forward to their sustained association with the Company.

The Board also acknowledges with gratitude the trust and cooperation extended by the Companys customers, vendors, business partners and other stakeholders during the year under review.

The Directors further place on record their appreciation for the dedication, commitment and valuable contribution of the employees at all levels, whose continued efforts have been instrumental in supporting the Companys performance and progress.

	For and on behalf of Board of
	United Drilling Tools Limited
	Sd/-
	Pramod Kumar Gupta
Date: 10/08/2026	Chairman
Place: Noida	DIN: 00619482