United Drilling Tools, 522014, UNIDT Share Price, Rating, Research, Analysis, Fundamental & Historical Data

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

406.06
29.77
10

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

435.88
0.90%
1.53

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

17.24
3.80
11.98

EBITDA CAGR (%)

10 Years
5 Years
3 Years

4.58
-9.78
6.18

PAT CAGR (%)

10 Years
5 Years
3 Years

8.61
-14.52
13.53

P:E (Median)

8 Years
5 Years
3 Years

37.37
37.37
38.08

P:BV (Average)

8 Years
5 Years
3 Years

1.92
1.92
1.90

EV:EBITDA (Average)

8 Years
5 Years
3 Years

20.09
20.09
20.42

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Jun 25 Jun 24 Var% Mar 25 Mar 24 Var% Dec 24 Dec 23 Var% Sep 24 Sep 23 Var%
Net Sales 31.67 54.38 -41.76% 31.11 42.83 -27.36% 34.78 34.04 2.17% 51.88 34.62 49.86%
Expenses 26.14 46.95 -44.32% 26.66 36.96 -27.87% 30.04 32.32 -7.05% 45.16 30.41 48.50%
EBITDA 5.53 7.43 -25.57% 4.45 5.87 -24.19% 4.73 1.72 175.00% 6.72 4.21 59.62%
EBIDTM 17.46% 13.66% 14.31% 13.70% 13.61% 5.05% 12.96% 12.16%
Other Income 0.58 0.39 48.72% 1.54 0.48 220.83% 0.47 3.87 -87.86% 0.53 0.99 -46.46%
Interest 1.13 0.60 88.33% 1.21 0.65 86.15% 0.63 1.15 -45.22% 0.30 0.74 -59.46%
Depreciation 0.86 1.06 -18.87% 0.99 1.19 -16.81% 0.99 0.98 1.02% 0.87 1.01 -13.86%
PBT 4.12 6.16 -33.12% 3.80 4.50 -15.56% 3.58 3.46 3.47% 6.09 3.45 76.52%
Tax 1.21 1.85 -34.59% -0.10 1.42 - 0.97 1.05 -7.62% 2.00 1.25 60.00%
PAT 2.91 4.31 -32.48% 3.90 3.08 26.62% 2.61 2.42 7.85% 4.10 2.20 86.36%
PATM 9.20% 7.93% 12.52% 7.19% 7.52% 7.10% 7.89% 6.35%
EPS 1.44 2.12 -32.08% 1.92 1.52 26.32% 1.29 1.19 8.40% 2.02 1.08 87.04%

Description Jun 25 Jun 24 Var% Mar 25 Mar 24 Var% Dec 24 Dec 23 Var% Sep 24 Sep 23 Var%
Net Sales 31.67 54.42 -41.80% 31.12 42.76 -27.22% 33.89 33.95 -0.18% 48.84 31.39 55.59%
Expenses 25.60 46.55 -45.01% 26.05 36.44 -28.51% 28.53 31.71 -10.03% 41.27 26.54 55.50%
EBITDA 6.07 7.88 -22.97% 5.06 6.32 -19.94% 5.36 2.24 139.29% 7.57 4.84 56.40%
EBIDTM 19.17% 14.47% 16.27% 14.79% 15.83% 6.61% 15.50% 15.42%
Other Income 0.32 0.23 39.13% 1.27 0.27 370.37% 0.15 3.71 -95.96% 0.09 0.75 -88.00%
Interest 1.13 0.60 88.33% 1.21 0.58 108.62% 0.64 1.22 -47.54% 0.30 0.74 -59.46%
Depreciation 1.11 1.29 -13.95% 1.26 1.46 -13.70% 1.27 1.24 2.42% 1.16 1.27 -8.66%
PBT 4.15 6.22 -33.28% 3.86 4.56 -15.35% 3.61 3.49 3.44% 6.20 3.58 73.18%
Tax 1.19 1.88 -36.70% -0.03 1.44 - 0.96 1.06 -9.43% 2.06 0.67 207.46%
PAT 2.96 4.34 -31.80% 3.89 3.12 24.68% 2.65 2.43 9.05% 4.14 2.91 42.27%
PATM 9.34% 7.98% 12.50% 7.29% 7.83% 7.15% 8.47% 9.28%
EPS 1.46 2.14 -31.78% 1.92 1.53 25.49% 1.31 1.20 9.17% 2.04 1.43 42.66%

Annual Results

Standalone Figures in Rs. Crores /

Consolidated

Description TTM Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Net Sales 149.44 172.16 136.65 119.34 164.42 142.85 111.75 156.20 73.43 80.38 35.08 Net Sales Growth -9.91% 25.99% 14.50% -27.42% 15.10% 27.83% -28.46% 112.72% -8.65% 129.13% Cost Of Goods Sold 94.05 110.67 84.71 75.52 69.20 79.72 40.85 103.23 41.18 39.29 11.25 Gross Profit 55.39 61.48 51.94 43.82 95.22 63.13 70.90 52.96 32.25 41.09 23.82 GP Margin 37.07% 35.71% 38.01% 36.72% 57.91% 44.19% 63.45% 33.91% 43.92% 51.12% 67.90% Total Expenditure 128.00 148.82 117.46 102.47 91.27 103.81 58.71 127.95 56.92 52.80 20.16 Power & Fuel Cost - 1.19 1.04 1.37 1.03 1.20 0.86 0.96 0.79 0.81 0.61 % Of Sales - 0.69% 0.76% 1.15% 0.63% 0.84% 0.77% 0.61% 1.08% 1.01% 1.74% Employee Cost - 13.45 11.49 11.54 9.11 10.62 9.35 8.85 5.94 5.59 4.24 % Of Sales - 7.81% 8.41% 9.67% 5.54% 7.43% 8.37% 5.67% 8.09% 6.95% 12.09% Manufacturing Exp. - 6.77 6.70 7.29 4.31 2.53 0.78 1.77 1.33 1.45 1.14 % Of Sales - 3.93% 4.90% 6.11% 2.62% 1.77% 0.70% 1.13% 1.81% 1.80% 3.25% General & Admin Exp. - 3.11 3.52 3.21 3.88 5.32 4.16 4.93 3.56 3.00 2.15 % Of Sales - 1.81% 2.58% 2.69% 2.36% 3.72% 3.72% 3.16% 4.85% 3.73% 6.13% Selling & Distn. Exp. - 11.12 6.37 2.16 1.96 2.40 1.54 2.66 1.73 1.85 0.39 % Of Sales - 6.46% 4.66% 1.81% 1.19% 1.68% 1.38% 1.70% 2.36% 2.30% 1.11% Miscellaneous Exp. - 2.49 3.63 1.38 1.77 2.01 1.17 5.54 2.39 0.80 0.39 % Of Sales - 1.45% 2.66% 1.16% 1.08% 1.41% 1.05% 3.55% 3.25% 1.00% 1.08% EBITDA 21.43 23.34 19.19 16.87 73.15 39.04 53.04 28.25 16.51 27.58 14.92 EBITDA Margin 14.34% 13.56% 14.04% 14.14% 44.49% 27.33% 47.46% 18.09% 22.48% 34.31% 42.53% Other Income 3.12 2.93 1.43 1.57 2.00 3.65 2.92 0.93 0.48 1.38 1.29 Interest 3.27 2.73 2.99 0.83 0.82 0.88 0.51 1.00 0.52 1.14 0.59 Depreciation 3.71 3.90 4.13 2.97 2.69 2.68 2.70 2.87 2.69 6.62 8.97 PBT 17.59 19.64 13.50 14.65 71.64 39.14 52.75 25.31 13.78 21.20 6.64 Tax 4.08 4.72 4.33 4.47 21.29 6.44 7.54 0.57 1.05 0.35 0.11 Tax Rate 23.19% 24.03% 32.07% 30.51% 29.72% 16.45% 14.29% 2.25% 7.62% 1.65% 1.66% PAT 13.52 14.92 9.17 10.18 50.36 32.70 45.22 24.74 12.73 20.85 6.53 PAT before Minority Interest 13.52 14.92 9.17 10.18 50.36 32.70 45.22 24.74 12.73 20.85 6.53 Minority Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin 9.05% 8.67% 6.71% 8.53% 30.63% 22.89% 40.47% 15.84% 17.34% 25.94% 18.61% PAT Growth 12.57% 62.70% -9.92% -79.79% 54.01% -27.69% 82.78% 94.34% -38.94% 219.30% EPS 6.66 7.35 4.52 5.01 24.81 16.11 22.28 12.19 6.27 10.27 3.22

Description TTM Mar 25 Mar 24 Mar 23 Mar 22
Net Sales 145.52 168.27 129.97 119.83 174.90 Net Sales Growth -10.46% 29.47% 8.46% -31.49% Cost Of Goods Sold 89.60 106.21 78.11 75.65 78.83 Gross Profit 55.92 62.07 51.85 44.17 96.06 GP Margin 38.43% 36.89% 39.89% 36.86% 54.92% Total Expenditure 121.45 142.40 108.59 100.66 100.65 Power & Fuel Cost - 1.34 1.20 1.48 1.03 % Of Sales - 0.80% 0.92% 1.24% 0.59% Employee Cost - 14.48 12.34 12.04 9.34 % Of Sales - 8.61% 9.49% 10.05% 5.34% Manufacturing Exp. - 2.73 2.20 3.79 3.31 % Of Sales - 1.62% 1.69% 3.16% 1.89% General & Admin Exp. - 3.71 4.59 3.89 3.90 % Of Sales - 2.20% 3.53% 3.25% 2.23% Selling & Distn. Exp. - 11.19 6.37 2.23 1.96 % Of Sales - 6.65% 4.90% 1.86% 1.12% Miscellaneous Exp. - 2.75 3.79 1.57 2.27 % Of Sales - 1.63% 2.92% 1.31% 1.30% EBITDA 24.06 25.87 21.38 19.17 74.25 EBITDA Margin 16.53% 15.37% 16.45% 16.00% 42.45% Other Income 1.83 1.74 0.60 0.60 1.10 Interest 3.28 2.74 2.99 0.83 0.84 Depreciation 4.80 4.98 5.19 4.13 3.04 PBT 17.82 19.88 13.79 14.81 71.47 Tax 4.18 4.86 4.41 4.53 21.44 Tax Rate 23.46% 24.45% 31.98% 30.59% 30.00% PAT 13.64 15.03 9.38 10.27 50.03 PAT before Minority Interest 13.64 15.03 9.38 10.27 50.03 Minority Interest 0.00 0.00 0.00 0.00 0.00 PAT Margin 9.37% 8.93% 7.22% 8.57% 28.60% PAT Growth 6.56% 60.23% -8.67% -79.47% EPS 6.72 7.40 4.62 5.06 24.65

Results Balance Sheet

Standalone Figures in Rs. Crores /

Consolidated

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Shareholder's Funds 263.11 251.88 246.27 239.82 193.73 164.11 131.68 111.38 100.11 89.27 Share Capital 20.30 20.30 20.30 20.30 20.30 20.30 20.30 10.19 10.18 20.19 Total Reserves 242.81 231.57 225.97 219.52 173.43 143.80 111.37 101.19 89.93 69.08 Non-Current Liabilities 6.47 7.37 5.94 5.87 5.79 5.65 4.93 5.34 14.24 3.78 Secured Loans 1.12 1.23 0.04 0.07 0.12 0.42 0.14 0.23 0.09 0.13 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.44 Long Term Provisions 1.31 1.12 1.01 0.78 1.01 0.84 0.72 0.60 0.43 0.40 Current Liabilities 65.76 95.93 28.98 56.10 40.59 13.42 12.97 79.94 3.08 32.11 Trade Payables 25.02 57.01 14.29 6.62 7.60 1.72 5.25 56.38 1.11 17.52 Other Current Liabilities 9.72 7.05 9.27 10.00 8.13 4.04 7.04 8.23 1.97 4.71 Short Term Borrowings 30.13 31.31 4.93 17.83 18.17 0.00 0.00 15.32 0.00 9.39 Short Term Provisions 0.89 0.57 0.49 21.65 6.69 7.66 0.67 0.00 0.00 0.49 Total Liabilities 335.34 355.18 281.19 301.79 240.11 183.18 149.58 196.66 117.43 125.16 Net Block 47.64 50.10 50.42 30.53 31.63 32.62 34.28 36.54 37.31 42.92 Gross Block 101.41 100.37 97.07 74.32 72.91 71.26 70.22 69.84 67.94 66.92 Accumulated Depreciation 53.77 50.27 46.65 43.79 41.28 38.64 35.95 33.29 30.63 24.00 Non Current Assets 87.40 89.35 89.15 98.72 117.33 125.77 83.15 59.34 61.55 43.89 Capital Work in Progress 10.20 7.61 5.32 18.90 15.13 1.72 1.46 1.04 0.60 0.60 Non Current Investment 1.26 1.26 1.26 1.26 0.00 0.00 0.00 0.00 0.00 0.00 Long Term Loans & Adv. 20.90 23.56 27.64 28.71 35.66 33.73 27.62 14.69 12.61 0.37 Other Non Current Assets 7.40 6.82 4.51 19.32 34.91 57.70 19.80 7.07 11.02 0.00 Current Assets 247.94 265.83 192.04 203.07 122.78 57.41 66.42 137.31 55.89 81.26 Current Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Inventories 142.50 184.31 135.77 114.97 43.11 22.77 22.99 61.27 24.95 28.37 Sundry Debtors 87.07 60.86 34.07 40.89 60.14 12.38 27.44 70.87 7.73 21.81 Cash & Bank 1.56 2.38 1.84 1.83 5.66 10.69 11.09 1.35 20.87 16.68 Other Current Assets 16.80 0.86 0.00 0.00 13.88 11.56 4.90 3.81 2.34 14.40 Short Term Loans & Adv. 16.43 17.41 20.37 45.39 13.88 11.56 4.90 3.81 2.34 14.40 Net Current Assets 182.18 169.90 163.06 146.97 82.19 43.99 53.46 57.37 52.81 49.16 Total Assets 335.34 355.18 281.19 301.79 240.11 183.18 149.57 196.65 117.44 125.15

Description Mar 25 Mar 24 Mar 23 Mar 22
Shareholder's Funds 264.20 252.87 247.05 239.53 Share Capital 20.30 20.30 20.30 20.30 Total Reserves 243.90 232.56 226.75 219.23 Non-Current Liabilities 6.84 7.45 6.00 5.88 Secured Loans 1.12 1.23 0.04 0.07 Unsecured Loans 0.00 0.00 0.00 0.00 Long Term Provisions 1.34 1.14 1.01 0.78 Current Liabilities 66.57 96.89 28.58 56.95 Trade Payables 25.10 57.45 13.67 7.26 Other Current Liabilities 10.45 7.56 9.47 10.06 Short Term Borrowings 30.13 31.31 4.93 17.83 Short Term Provisions 0.89 0.57 0.51 21.80 Total Liabilities 337.61 357.21 281.63 302.36 Net Block 55.75 58.93 60.26 40.45 Gross Block 113.31 111.90 108.56 84.75 Accumulated Depreciation 57.56 52.97 48.30 44.30 Non Current Assets 85.10 87.61 88.07 96.74 Capital Work in Progress 11.92 9.21 5.32 18.90 Non Current Investment 0.00 0.00 0.00 0.00 Long Term Loans & Adv. 9.88 12.51 16.48 16.46 Other Non Current Assets 7.55 6.96 6.01 20.93 Current Assets 251.32 268.41 193.57 205.61 Current Investments 0.00 0.00 0.00 0.00 Inventories 154.59 191.98 136.05 115.07 Sundry Debtors 76.76 54.42 34.07 42.00 Cash & Bank 1.67 2.49 2.21 2.21 Other Current Assets 18.30 0.23 0.00 0.00 Short Term Loans & Adv. 17.93 19.29 21.23 46.33 Net Current Assets 184.75 171.52 164.99 148.66 Total Assets 337.61 357.21 281.64 302.35

Cash Flow

Standalone Figures in Rs. Crores /

Consolidated

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Cash From Operating Activity 8.38 -16.42 24.69 5.47 -8.23 13.34 30.55 -21.14 30.64 4.54 PBT 19.64 13.50 14.65 71.64 39.10 52.67 25.25 13.78 21.20 6.64 Adjustment 4.60 5.08 1.71 0.71 -0.79 2.70 2.86 2.68 6.62 8.97 Changes in Working Capital -12.73 -30.77 12.78 -45.69 -40.26 -34.71 3.12 -37.59 2.91 -10.93 Cash after chg. in Working capital 11.51 -12.20 29.13 26.66 -1.95 20.65 31.23 -21.13 30.74 4.69 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -3.13 -4.22 -4.44 -21.19 -6.28 -7.31 -0.67 -0.02 -0.09 -0.03 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 -0.12 Cash From Investing Activity -2.05 -4.85 -9.27 -6.60 -15.10 -1.30 -1.01 -2.37 -1.02 -0.15 Net Fixed Assets -3.63 -5.59 -9.17 -5.18 -15.06 -1.30 -0.80 -2.34 -1.02 0.41 Net Investments 0.00 0.00 0.00 -1.26 0.00 0.00 0.00 0.00 0.00 0.00 Others 1.58 0.74 -0.10 -0.16 -0.04 0.00 -0.21 -0.03 0.00 -0.56 Cash from Financing Activity -7.30 21.74 -15.41 -2.70 18.30 -12.44 -19.81 3.99 -9.87 2.80 Net Cash Inflow / Outflow -0.97 0.48 0.01 -3.83 -5.03 -0.40 9.74 -19.52 19.76 7.19 Opening Cash & Equivalents 1.18 0.70 1.83 5.66 10.69 11.09 1.35 20.87 1.11 9.50 Closing Cash & Equivalent 0.21 1.18 1.84 1.83 5.66 10.69 11.09 1.35 20.87 16.68

Description Mar 25 Mar 24 Mar 23 Mar 22
Cash From Operating Activity 9.04 -14.08 25.70 6.41 PBT 19.88 13.79 14.81 71.46 Adjustment 6.64 7.19 4.00 2.10 Changes in Working Capital -14.14 -30.76 11.44 -45.82 Cash after chg. in Working capital 12.39 -9.78 30.25 27.74 Interest Paid 0.00 0.00 0.00 0.00 Tax Paid -3.34 -4.30 -4.54 -21.33 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 Cash From Investing Activity -2.82 -8.57 -9.30 -6.16 Net Fixed Assets -3.63 -5.59 -9.17 Net Investments 0.00 0.00 0.00 Others 0.81 -2.98 -0.13 Cash from Financing Activity -7.20 21.74 -16.40 -3.72 Net Cash Inflow / Outflow -0.98 -0.91 0.00 -3.47 Opening Cash & Equivalents 1.30 2.21 2.21 5.68 Closing Cash & Equivalent 0.32 1.30 2.21 2.21

Financial Ratios

Standalone /

Consolidated

Description Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17 Mar 16
Book Value (Rs.) 129.59 124.06 121.30 118.12 95.42 80.83 64.86 54.84 49.17 38.93 ROA 4.32% 2.88% 3.49% 18.58% 15.45% 27.18% 14.29% 8.11% 17.19% 5.87% ROE 5.79% 3.68% 4.19% 23.23% 18.28% 30.57% 20.36% 12.04% 23.25% 8.59% ROCE 7.72% 6.15% 6.08% 30.83% 21.24% 35.92% 20.32% 12.59% 22.39% 7.64% Fixed Asset Turnover 1.71 1.38 1.39 2.23 1.98 1.58 2.23 1.07 1.19 0.52 Receivable days 156.83 126.78 114.63 112.14 92.65 65.04 114.87 195.35 67.06 179.05 Inventory Days 346.45 427.48 383.43 175.46 84.17 74.74 98.45 214.30 121.05 225.91 Payable days 135.25 153.60 50.53 37.50 21.32 22.36 99.40 159.02 61.52 123.53 Cash Conversion Cycle 368.03 400.67 447.53 250.10 155.50 117.41 113.92 250.63 126.59 281.43 Total Debt/Equity 0.12 0.13 0.02 0.08 0.10 0.00 0.00 0.14 0.00 0.11 Interest Cover 8.20 5.52 18.73 88.26 45.71 105.24 26.27 27.36 19.67 12.31

Description Mar 25 Mar 24 Mar 23 Mar 22
Book Value (Rs.) 129.54 123.96 121.68 117.98 ROA 4.32% 2.94% 3.52% 16.55% ROE 5.84% 3.76% 4.22% 20.89% ROCE 7.82% 6.26% 6.14% 28.07% Fixed Asset Turnover 1.49 1.18 1.24 2.06 Receivable days 142.27 124.25 115.86 87.66 Inventory Days 375.87 460.63 382.47 240.15 Payable days 141.84 166.14 50.48 33.61 Cash Conversion Cycle 376.30 418.74 447.86 294.21 Total Debt/Equity 0.12 0.13 0.02 0.08 Interest Cover 8.25 5.61 18.91 86.34

Top Investors:

cairn oil solutions pvt ltd

investor education and protection fund authority

shashank s khade

Annual Reports:

News Update:

United Drilling Tools secures order worth Rs 1.27 crore
31st Oct 2025, 15:42 PM

The export order is for supply of Gas Lift Equipments
Read More
United Drilling Tools bags first export order worth Rs 9.34 lakh
17th Oct 2025, 10:23 AM

The said order is expected to be completed in 2 months
Read More
United Drilling Tools bags first export order from M/s Argentera Oil and Gas
13th Oct 2025, 17:00 PM

The estimated contract value is Rs 1.14 crore
Read More
United Drilling Tools bags order worth Rs 5.63 crore
21st Aug 2025, 15:19 PM

The order is for the supply of conductor wall with multi start connector
Read More
United Drilling Tool - Quarterly Results
12th Aug 2025, 19:32 PM

Read More

United Drilling Tools Ltd.

Engineering - Industrial Equipments

BSE: 522014 | NSE: UNIDT

Stock Summary

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

EBITDA CAGR (%)

PAT CAGR (%)

P:E (Median)

P:BV (Average)

EV:EBITDA (Average)

Quarterly Results

Consolidated Figures in Rs. Crores /

Annual Results

Standalone Figures in Rs. Crores /

Results Balance Sheet

Standalone Figures in Rs. Crores /

Cash Flow

Standalone Figures in Rs. Crores /

Financial Ratios

Standalone /

Top Investors:

Annual Reports:

News Update:

United Drilling Tools Ltd.

Engineering - Industrial Equipments

BSE: 522014 | NSE: UNIDT

Stock Summary

Shareholding Pattern

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

EBITDA CAGR (%)

PAT CAGR (%)

P:E (Median)

P:BV (Average)

EV:EBITDA (Average)

Quarterly Results

Consolidated Figures in Rs. Crores /

Annual Results

Standalone Figures in Rs. Crores /

Results Balance Sheet

Standalone Figures in Rs. Crores /

Cash Flow

Standalone Figures in Rs. Crores /

Financial Ratios

Standalone /

Top Investors:

Annual Reports:

News Update: