Oil Country Tubular Limited is a leading manufacturer of oil country tubular goods with its main plant located in Narketpally, India. The company produces products such as drill pipes, casing, tubing, and accessories. It has a long history dating back to 1985 and serves customers in industries such as oil and natural gas exploration. The company has a diverse geographic customer base including countries in Americas, Africa, Europe, India, and other parts of Asia. It regularly announces financial results and receives credit ratings from agencies like ICRA.

1. Company Profile
Registered Address:
108 Kanchanjunga, King Koti Road,Hyderabad 500001
Tel.:040-23231496 , 23231497 , 23235619Fax:040-
23235617 ,Email:corporaterelations@octilindia.com
Website:www.octlindia.com

2. Table of Content
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3. Company Profile
3
 OCTL is a leading companies in the world processing range of Oil Country Tubular Goods.
 Single unique integrated Plant located at Narketpally and corporate headquarters at Hyderabad,
India.
 The facilities include Upsetting, Heat Treatment, Non-Destructive Testing, Metallurgical
Laboratory, Gagging and Calibration Laboratory, Tool Joint and Coupling Threading, Casing and
Tubing Threading, Friction Welding of Drill Pipe, Hydrostatic Testing and Internal Plastic Coating
of Tubular.
 Oil Country Tubular Limited has been assessed and certified by the American Petroleum Institute
Quality Registrar (APIQR) as being in compliance with ISO 9001:2008 Quality System.
 OCTL is licensed by American Petroleum Institute (API) as:
1. Manufacturer of Casing and Tubing: plain end, threaded and coupled, and
threader as per API Specification 5CT
2. Manufacturer of Drill Pipe as per API Specification 5DP
3. Manufacturer of Rotary Drill Stem Elements as per API 7-1
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4. Company History
4
 1985 - Oil Country Tubular (OCTL) was incorporated on 22nd February. The Company obtained Certificate of
commencement of business on 30th March.
 The Company was promoted by United Steel Allied Industries (USAI), its managing partner K. Suryanarayana and
their associates.
 The Company entered into a technical collaboration with Baker Huges Tubular Services Inc. USA., for Oil
exploration equipment, comprehensive technology for manufacture of tubular in one integrated plant, and a wellhead
scan log - computerized system for automatic and elaborate inspection of tubing on well site.
 1991 - The overall production and sales were affected due to restriction on imports. The company proposed to expand its
capacity from 50,000 MT to 75,000 MT with additional investment in equipment and other assets.
 1995 - The Company entered into a long term arrangement with M/s. Grant Prideco SA Switzerland, a subsidiary of EVI,
USA for services and purchase of tubular goods manufactured by the Company. This arrangement ensure optimum
utilization of the capacity and substantially add to the income of the company.
 1997 - OCTL has only a marketing joint venture with EVI – 100% sales agreement. EVI has entered into an exclusive
manufacturing agreement with OCT for five years by which 75% of the OCT's manufacturing facility was exclusive to
EVI. The company manufactures drill pipes, production tubing's and casing pipes for the oil exploration industry in
technical collaboration with Baker Huges Tubular Services of the US.
 1998 - OCTL is yet another company that currently enjoys the benefits of catering to the oil industry. OCTL supplies the
oil industry (mainly ONGC) with tubes and pipes that are used in drilling operations. The company managed to improve
the debt equity ratio by repaying a substantial quantum of debt amounting to Rs.33 crore.
 1999 - The company floated a new arm - United Seamless Tubular Ltd, to manufacture seamless pipes ranging from 5
inches to 14 inches with a capacity of 140 thousand tonnes per annum.
 2003 - Shri Sunil Kapoor ceases to be Director with effect from December 5, 2003 as IFCI has withdrawn the nomination
vide letter dated December 5, 2003.
Source: Money Control Top

5. Product & Services
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Products
Drill Pipe
Casing
Tubing OCTL DS Connection
Heavy Weight Drill Pipe
 Drill Collars (Slick and Spiral)
 Accessories: Rotary Subs, Lift Plugs and Lift Subs, Cross Over (Drill Pipe to Drill Collar or Drill
Collar to Drill Collar), Stabilizer Sleeves, Welded Blade Stabilizers & Integral Stabilizers and
Cast Steel Lifting Bails
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6. Product & Services
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Services
 Reconditioning of Drill Pipe
 Rethreading of Drill Pipe
 Field Inspection
 Tool Joint Hardfacing
 Internal Plastic Coating
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7. Management Team
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Board of Directors Designation
Mr. K. Suryanarayana Chairman
Mr. Sridhar Kamineni Managing Director
Mr. K. G. Joshi Whole time Director
Dr. Abdul Halim Bin Harun Director
Dr. T. S. Sethurathnam Director
Dr. N. S. Datar Director
Mr. K. V. Ravindra Reddy Director
Source: BSE India Top

8. Ownership
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Ownership Dec - 10
Promoter & Promoter Group 19,121,701
Indian 19,121,701
Foreign --
Public 25,167,829
Institution 68,630
FII 5,400
DII 63,230
Non Institution 25,099,199
Bodies Corporate 2,605,247
Source: BSE India Top

9. Peer Group
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 Oil Country Tubular Ltd.
 Great Offshore
 Aegis Logistics
 Dolphin Offshore
Peer Group Comparison
Results (in USD Oil Country Tub Great Offshore Aegis Logistics Dolphin Offsh
Million) Mar-
2010
Sales
70.67 215.40 60.71 112.34
PAT
11.88 37.49 8.29 9.92
Equity
9.42 7.92 3.99 3.35
Source: BSE India Top

10. Financials
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Income Statement (Annual Trend)
(In USD Million) 2009-10 2008-09 2007-08 2006-07 2005 - 06
Revenue 70.67 89.44 72.24 55.64 33.70
Other Income 0.55 0.37 0.38 0.69 0.29
Total Income 71.22 89.81 72.62 56.33 33.99
Expenditure -48.65 -68.37 -53.60 -48.63 -28.40
Interest -0.37 -0.46 -7.99 -3.94 -3.63
PBDT 22.20 20.98 11.03 3.76 1.96
Depreciation -1.49 -1.59 -1.53 -1.33 -1.40
PBT 20.72 19.39 9.50 2.43 0.56
Tax -8.84 -5.57 -3.35 -0.41 -0.07
Net Profit 11.88 13.82 6.15 2.03 0.49
15
13.82
11.88
10 Profit Trend (In USD Million)
6.15
5
2.03 Source: BSE India
0 0.49
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2005 - 06 2006-07 2007-08 2008-09 2009-10

11. Geographic Segment
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The Company is predominantly Profit Contributing (Profit %) Profit (In USD
engaged in the manufacture and Million)
Countries
sale of Oil Country Tubular
Goods where the risks and America 33 3.92
returns associated with the African 5 0.59
product are uniform. Hence, the Europe 1 0.12
Company has identified the India 32
geographic segments as its 3.80
primary segment for reporting. Other Asian 29 3.45
Total 100 11.88
29% 33% America
The geographic segments
of the Company are African
America, Europe, India Europe
and Other Asian Countries.
32% India
5% Other Asian
1%
Source: Company Annual Report Top

12. Announcements
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 Oil Country Tubular net plummets 85.9% for Sep`10 qtr
Oil Country Tubular disclosed a phenomenon drop in standalone net profit for the quarter ended
September 2010. During the quarter, the profit of the company declined 85.90% to Rs 34.09
million from Rs 241.85 million in the same quarter previous year. Source: IRIS (25-OCT-10)
 ICRA upgrades short term rating of Oil Country to `A1
Credit rating agency, ICRA has upgraded the short term rating assigned to the Rs 235 million fund
based limits and the Rs 830 million non fund based limits and has also assigned an LA rating in
the long term to the Rs 92.5 million fund based limits of Oil Country Tubular (OCTL) to A1 from
A2+ earlier. Source: IRIS (02-DEC-09)
 Oil Country to set up threading facility in Oman
Oil Country Tubular (Oil Country), a Hyderabad-based company, is mulling over to set up a
threading facility in Oman. The company is also in talks with Oman based Golden Dunes
International and Malaysian based UMW Petropipes for setting up a joint venture. Source: IRIS (22-JAN-09)
 ICRA assigns `A2+` rating to Oil Country Tubular
 ICRA has assigned an A2+ rating to the Rs 235 million fund based limit and the Rs 830 million
non fund based limit of Oil Country Tubular (OCTL). A2 is the above-average credit-quality
rating assigned by ICRA to short-term debt instruments; instruments rated in this category carry
higher credit risk than instruments rated A1. Source: IRIS (24-DEC-08)
Source: IRIS Top

13. Thank You!
By: Pranjali Singh
(Research Analyst)