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RSDani&Co.Chartered AccountantsKothari Complex, Near GPO, Bhilwara (Raj.) 311001Mobile No. 0935L358292 Email - rsdcbhl@gmail.com

INDEPENDENT AUDITOR'S LIMITED REVIEW REPORT ON THE UNAUDITED INTERIMFTNANCTAL RESULTS FOR THE QUARTER AND SrX MONTHS ENDED 3oth SEPT., 2OL7

The Board of DirectorsUnited Drilling Tools LimitedNew Delhi a

We have reviewed the accompanying statement of Standalone unaudited Financial Results ofUNITED DRILLING TOOLS LIMITED ('The Company'), for the quarter and six months ended3oth Sept. , 201-7, being submitted by the Company pursuant to the requirement ofRegulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations,20t5, as modified by Circular NO.CIR/CFD lf AC/62/20L6 dated 5th July 2016.

This statement, preparation of which is the responsibility of the Company's Management andapproved by the Board of Directors, has been prepared in accordance with the recognitionand measurement principles laid down in the Indian Accounting Standard 34 "InterimFinancial Reporting" ("Ind AS 34"), prescribed under Sectlon 133 of the Companies Act, 2013read with relevant rules issued there under and other accounting principles generallyaccepted in India. Our responsibility is to issue a report on the Statement based on ourreview.

We conducted our review of the Statement in accordance with the Standard on ReviewEngagement (SRE) 24LO, "Review of Interim Financial Information pefformed by theIndependent 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 asto whether the Statement is free of material misstatement. A review is limited primarily toinquiries of company personnel and analytical procedure applied to financial data and thusprovides less assurance than an audit. We have not performed an audit and, accordilgly, wedo not express an audit opinion

The Financial results for the quarter and Six months ended Sept, 30, 2016 and and the yearended March 37, 2017 have been prepared/regrouped by the management in accordancewith applicable Ind-AS. Pursuant to exemption granted by Circular No.CIR/CFD/FAC/62/2016 date July 5, 2016, we did not perform limited review of the results forthese periods,

Based on our review conducted as stated above, nothing has come to our attention thatcauses us to believe that the accompanying statements prepared in accordance with theaforesaid Indian Accounting Standards and other accounting principles generally accepted inIndia, has not disclosed the information required to be disclosed in terms of Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as modified byCircular NO.CIR/CFD/fAC/62/20t6 dated 05th July 20L6, including the manner in which it isto be disclosed, or that it contains any material misstatement".

For R. S. DANI & CO.Chartered AccountantsICAI Firm Reg. No. OOO243C

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Place : NoidaDate : 28th oct., 2oL7

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UNITED DRILLING TOOLS LIMITEDCIN : 129199D11985P1ft01 5796

REGD.OFFICE : 139 A, First Floor, Antriksh Bhawan, 22, Kasturba Gandhi Marg, NEW DELHI-I10001E-mail lD: compsect @ udtltd.com, Website: www.udtltd.com

Phone No.0120'4213490, Fax No. 0120-2462674

EXTRACT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 3OTH SEPTEMBER, 2017(Rs. ln Lacs)

S. No. Particulars

Current Quarterended 30th Sept.,

20L7

Year to date Figures

for Current Period

ended 30th Sept.,

20t7

Corresponding

Quarter ended 30th

Sept., 2015

Previous Year ended31st March ,20t7

Un-Audited Un-Audited Un-Audited Audited

1 Total lncome from Operations (Net) 260.45 519.55 2266,70 8038.31

2Net Profit / (Loss) for the period (before Tax,

Exceptional and/ or Extraordinary items)26.59 64.40 22t.3L 2119.93

3 Net Profit / (Loss) for the period beforeTax(after Exceptional and/or Extraordinaryitems)

26.s9 64,40 227.3t 2t19.93

4 Net Profit / (Loss) for the period afterTax(after Exceptional and/or Extiaordinaryitems)

L7.5t 49.05 22r.3L 2085.13

5 Total Comprehensive lncome for the period

[(Comprising Profit/(Loss) for the period (after

tax) and Other Comprehensive lncome (after

tax)l

t7,51 49.05 22t.3L 2083.84

5 Equity Share Capital 1018,14 1018.06 1018.06 1018.05

7Reserves (excluding Revaluation Reserve as

shown in the Balance Sheet of Previous Year)8992.1s

8 Earning Per Share (of Rs. 10/- each) (for

continuins and discontinued operations)-

L

1.. Basic o.t7 0.48 2.r5 20.37

2. Diluted o.L7 0.48 2.t5 20.37

Note:-The above is an extract of the detailed Financial Results for the Quarterly Financial Results filed with the Stock Exchanges underRegulation 33 of the SEBI (Listing and Other Disclosure Requirements) Rqgulations, 2015. The full format of the Quartqrly FinancialResults are available on the website of the Stock Exchanges i.e. www.bseindia.com and the listed entity i.e. www.udtltd.com

2 The Financial Results of the Company have been prepared in accordance with lndian Accounting Standards (lnd AS) notified under theCompanies (lndian Accounting Standards) Rules, 2015 as amended by the Companies (lndian Accounting Standards) (Amendment)

Rules,2016. The Company adopted lnd As from 1st April,2017 and accordingly, these Financial Results (including forallperiodspresented in accordance with lnd AS 101 First-time Adoption of lndian Accounting Standards) have been prepared in accordance with therecognition and measurement principles in lnd AS 34 - lnterim Financial Reporting, prescribed under Section 133 of the Companies Act,

2013 read with the relevant rules issued there under and the other accounting principles generally accepted in lndia.

3 The company's business activities falls within a single business segment (Engineering) in terms of Accounting Standard - 1 7 of lCAl.

4 The results for the quarter and half year 301912016 and year ended 31 .03.2017 have been restated to comply with lnd-AS to make themcomparable with the current period. Further, previous period figures have been regrouped / reclassified, wherever necessary, to confirmwith the current perio'd presentation.

5 The lnd AS-compliant Corresponding figures in the previous year/periods have not been subjected to review/audit. However, theCompany's Management has exercised necessary due diligence to ensure that such financial result provide a true and fair view of itsaffairs.

6 The Figures of the previous periods have been regrouped and reclassifywherever necessary to confirm to current quarter's classification.

7 Reconciliation of the financial results reported under previous lndian Generally Accepted Accounting Principles (IGAAP) to totalcornprehensive income in accordance with lnd AS is summarised as below:-

Sr. No. ParticularsI

Quarter ended Six Months ended Year ended

30.09.2016 30.09.2016 31.03.20',17

Audited Unaudited Audited

DescriptionIrlet Profit as Previous GAAP (lndian GAAP) 22t.3L .---, -."':;L754.05 2085,13

I"I '.

\t..L

Adjustment due to Actuarial Gain/(Loss

)recognised in OCI (Net) 0.00 0.00 -t.29

Deferred Tax Adjustment on above lnd As Adju 0.00 0.00 0.00

Net Profit as per IND AS 221.31 1754.05 2083.84

Other Comprehensive lncomeAdjustment due to Actuarial Gain/(Loss

)recognised in OCI (Net) 0.00 0.00 (1.s6)

Tax Adiustment ln OCI 0.00 0.00 o.67

Total Other Comprehensive lncome 0.00 0.00 (1.2s)

Total Gomprehensive lncome as reported ut 221.31 1754.05 2085.13

Reconciliation of equity as reported under previous lndian GMP to equity in accordance

oardofDirectorsattheirmeetingheldon28thoct.,2017.Statutory Auditors have carried out "Limited Review" of the same.

Date :28.I0.20L7Place : Noida

(f={r,*--) GPramod Kumar Gupta lrtManaqinq Director f \-

Particulars

As at 31.03.2017(End of Last period

presented underDrarriarrc l?AAPI

As at Date ofTransition01.04.2016

Equitv as reported under previous lndian Gl 10011.50 7926.32

Changes Consequent to lnd AS adoption : 0.00 0.00

Adjustment due to Actuarial Gain/(Loss)

recognised in OCI (Net) (1.2s) 0.00

Equitv as reported under lnd AS 10010.21 7926.32

Attributable to :-Paid Up Equity Share Capital 1018.05 1018.01

Other Equity 8992.1s 6908.31

Total 10010.21 7926.32