Pursuant to Regulation 30 (read with Part A of Schedule III) and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing ....
Awaiting price reaction for this filing.
Nitin Fire Protection Industries, which has been under liquidation since January 2022 after being admitted to insolvency in October 2018, is being wound up with a Liquidator (Mr. U. Balakrishna Bhat) in charge since the Board's powers are suspended. The company was sold as a going concern under liquidation (Sale Certificate dated 3 October 2024), and NCLT Mumbai approved the sale on a 'clean slate' basis on 3 June 2025, although the final liquidation closure order is still awaited. In this meeting, the Liquidator approved the unaudited standalone and consolidated financial results for Q3 FY26 and the nine months ended 31 December 2025, with the auditor issuing an unqualified review report. Standalone revenue from operations was Rs 653.41 lakhs with a marginal profit of Rs 1.33 lakhs; consolidated revenue was Rs 711.49 lakhs with profit of Rs 45.89 lakhs. An application for cancellation and re-issuance of equity shares remains pending.
This is largely procedural — the Liquidator is fulfilling SEBI listing disclosure obligations while the liquidation process is being finalized. Existing shareholders are likely to face significant value erosion since the company is being sold on a 'clean slate' basis and existing equity is subject to pending cancellation, meaning current shares may become worthless or substantially diluted upon final NCLT closure.