Pursuant to Regulation 34(1) of SEBI (LODR) 2015, enclosed herewith the Annual Report for the Financial Year 2024-25. Please note that Nitin Fire Protection Industries Limited was admitted ....
Awaiting price reaction for this filing.
Nitin Fire Protection Industries Ltd has filed its Annual Report for FY 2024-25, even though no Annual General Meeting was held due to the company's ongoing liquidation process. The company was admitted into liquidation by the NCLT on 18 January 2022, and the Liquidator, Mr. Uliyar Balakrishna Bhat, has managed operations since then. A key development: the company was sold as a going concern with a Sale Certificate issued on 3 October 2024 to a consortium of Silver Stallion Limited, Vikasa India EIF I Fund, and AIG Direct LLC. Following an NCLT order on 3 June 2025, the company's status has been updated from 'Under CIRP' to 'ACTIVE', and a new board of three non-executive directors was appointed on 15 December 2025. Financially, the company reported a turnaround on a standalone basis — net profit of ₹292.83 lakhs in FY25 versus a net loss of ₹685.96 lakhs in FY24, on total income of ₹1,040.96 lakhs. Consolidated net profit stood at ₹219.88 lakhs. No dividend was declared, and share trading remains suspended on BSE and NSE since 11 February 2022.
This filing signals a major turning point for shareholders — the company has been rescued through a going-concern sale and now has an active board and new ownership, which could eventually lead to revocation of the trading suspension on BSE/NSE. However, the final NCLT liquidation closure order is still pending, and the AGM was not held, so existing shareholders remain in limbo until closure and resumption steps are completed.