The Unaudited Financial Results (Standalone & Consolidated basis) of the Company for the quarter ended on 30th June, 2025 along with Limited Review Report and The Unaudited Financial Results ....
Awaiting price reaction for this filing.
Nitin Fire Protection Industries, which has been under liquidation since January 2022 (after CIRP admission in October 2018), has approved its Q1 FY26 (June 2025) and Q2 FY26 (September 2025) unaudited financial results. The company was sold as a going concern via Sale Certificate dated 3 October 2024 to a consortium led by Elysian Wealth Fund (formerly Silver Stallion Ltd) with Vikasa India EIF I Fund and AIG Direct LLC; the final NCLT closure order is still awaited. Per NCLT directions pronounced on 3 June 2025, the Board is being reconstituted with three new non-executive, non-independent directors: Allan Marcelline Lopes, Vikas Arunkumar Makharia, and Kailat Hariharan Vaidyanathan. On a standalone basis, revenue from operations was negligible – just ₹70.32 lakhs in H1 FY26 versus ₹120.42 lakhs in H1 FY25 – while other income (₹1,611.92 lakhs) drove total income to ₹1,682.24 lakhs. The company swung to a standalone profit of ₹1,316.59 lakhs in H1 FY26 from a loss of ₹411.02 lakhs in H1 FY25, but most of this came from ₹1,818.80 lakhs in proceeds from sale of property, plant and equipment rather than operations. Standalone net operating cash flow turned negative at ₹(1,223.37) lakhs.
This is a high-uncertainty, event-driven situation for shareholders. A share cancellation and fresh issuance process is underway pending the NCLT closure order, which means existing shareholdings will likely be reset. The core operating business has slowed sharply (Q2 FY26 revenue from operations essentially nil), and reported profits are driven by one-time asset sales rather than sustainable operations – making the stock highly speculative.