Nitin Fire Protection Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025.
Awaiting price reaction for this filing.
Nitin Fire Protection Industries, which has been under liquidation since January 2022 following its admission into insolvency in October 2018, has filed its audited standalone and consolidated results for FY25 through the Liquidator (Mr. Uliyar Balakrishna Bhat). The company was sold as a going concern in October 2024 but is still awaiting the final closure order from NCLT. Standalone revenue from operations fell about 34% to ₹265.34 lakhs (from ₹402.26 lakhs in FY24), though a sharp rise in other income to ₹775.62 lakhs pushed total income to ₹1,040.96 lakhs. The company swung to a standalone net profit of ₹292.84 lakhs from a loss of ₹644.47 lakhs, helped by a ₹176.23 lakh tax adjustment and reversal of earlier liabilities. Operating cash flow, however, was deeply negative at ₹(3,060.09) lakhs. The statutory auditor (Tolia & Associates) issued an unmodified opinion on both standalone and consolidated results, and was re-appointed for FY26.
Existing shareholders remain in limbo as the company's share capital is unchanged pending NCLT approval for cancellation and re-issuance of shares after the liquidation sale. While headline profit turned positive, the deeply negative operating cash flow, negative other equity of ₹3,625 lakhs, and dependence on one-time write-backs suggest no sustainable business revival; the stock remains effectively a liquidation play until the NCLT closure order comes through.