Nitin Fire Protection Industries Ltd

Nitin Fire Protection Industries Ltd

₹ 1.85 -2.63%
10 Feb 2022
About

Co. was Incorporated in 1995, It provides gas and water-based fire protection systems under the brand name ‘NITIE’ to telecommunications, information technology, banking, and manufacturing industries. It also trades in fire detection systems and high-pressure seamless cylinders. Co. is promoted by Mr Nitin Shah & his sons, Mr Rahul & Mr Kunal Shah. [1]

Key Points

Bankruptcy and Credit Loss
In June 2018, NFPIL incurred a net loss of Rs. 48 cr. NFPIL’s current liabilities exceeded its total assets by 188 cr and one of their lenders had filed a petition before NCLT under Insolvency & Bankruptcy Code, 2016. NPFIL had trade receivables of Rs. 290 cr for sales made in earlier years and company had made provision of Rs. 181 crs by way of Expected Credit Loss. [1]

  • Market Cap 54.1 Cr.
  • Current Price 1.85
  • High / Low /
  • Stock P/E 4.56
  • Book Value 1.32
  • Dividend Yield 0.00 %
  • ROCE 32.8 %
  • ROE 36.4 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 327 to 161 days.

Cons

  • Promoter holding has decreased over last quarter: -8.52%
  • Tax rate seems low
  • Earnings include an other income of Rs.17.1 Cr.
  • Company has high debtors of 161 days.
  • Working capital days have increased from -19,298 days to 253 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
2.87 0.77 1.01 3.43 1.68 0.31 3.23 6.79 -4.03 3.27 5.54 7.11 8.29
24.07 1.91 1.54 5.10 6.21 2.15 5.71 3.65 1.54 4.02 6.89 7.59 10.05
Operating Profit -21.20 -1.14 -0.53 -1.67 -4.53 -1.84 -2.48 3.14 -5.57 -0.75 -1.35 -0.48 -1.76
OPM % -738.68% -148.05% -52.48% -48.69% -269.64% -593.55% -76.78% 46.24% -22.94% -24.37% -6.75% -21.23%
22.94 0.09 1.76 0.16 0.82 0.52 0.08 976.13 3.93 7.48 8.68 1.15 -0.21
Interest 0.12 0.19 0.25 0.30 0.29 0.11 -0.01 0.20 -0.20 0.00 0.00 0.00 0.01
Depreciation 0.22 0.16 0.15 0.09 0.09 0.07 0.08 0.07 0.07 0.10 0.10 0.09 0.24
Profit before tax 1.40 -1.40 0.83 -1.90 -4.09 -1.50 -2.47 979.00 -1.51 6.63 7.23 0.58 -2.22
Tax % -0.71% 0.00% 0.00% -0.53% 0.24% 0.00% 0.00% 0.00% -116.56% 0.00% 0.00% 20.69% -5.41%
1.40 -1.40 0.83 -1.89 -3.93 -1.50 -2.46 979.01 -0.53 6.62 7.24 0.46 -2.47
EPS in Rs 0.05 -0.05 0.03 -0.06 -0.13 -0.05 -0.08 33.50 -0.02 0.23 0.25 0.02 -0.08
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
705 1,016 1,147 1,480 1,327 888 18 8 10 7 6 24
622 903 1,031 1,316 1,281 952 29 20 36 12 14 29
Operating Profit 83 113 116 163 45 -65 -11 -11 -26 -5 -7 -4
OPM % 12% 11% 10% 11% 3% -7% -64% -132% -256% -75% -117% -18%
14 -3 11 15 2 6 7 14 23 3 8 17
Interest 25 31 41 52 60 73 63 117 1 4 0 0
Depreciation 5 9 14 24 25 38 1 1 1 0 0 1
Profit before tax 66 70 71 101 -38 -171 -68 -115 -4 -6 0 12
Tax % 7% 4% 5% 2% -1% 0% 2% 0% -0% 0% -409% 0%
57 67 67 99 -64 -167 -70 -117 -4 -6 2 12
EPS in Rs 1.94 2.28 2.30 3.37 -2.18 -5.72 -2.39 -3.99 -0.14 -0.22 0.08 0.41
Dividend Payout % 8% 7% 9% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -34%
5 Years: 7%
3 Years: 34%
TTM: 285%
Compounded Profit Growth
10 Years: -19%
5 Years: 17%
3 Years: 70%
TTM: 439%
Stock Price CAGR
10 Years: -25%
5 Years: 12%
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 36%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 44 44 58 58 58 58 58 58 58 58 58
Reserves 273 327 379 532 448 286 -1,132 -1,136 -1,143 -32 -20
353 392 502 555 451 830 590 603 601 6 4
87 115 189 142 348 229 525 516 519 9 32
Total Liabilities 758 879 1,128 1,287 1,305 1,403 42 41 36 42 74
159 176 192 290 304 310 19 14 10 8 10
CWIP 23 23 0 2 2 160 0 0 0 0 0
Investments 36 1 38 40 8 12 4 4 4 3 3
540 678 899 956 991 921 18 23 22 31 60
Total Assets 758 879 1,128 1,287 1,305 1,403 42 41 36 42 74

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
40 1 -15 113 244 -159 5 127 -5 -5 -30 0
-26 -26 -28 -156 -48 -200 1 0 4 4 42 0
25 2 69 -5 -204 366 -6 -128 5 -2 -11 0
Net Cash Flow 40 -23 25 -48 -8 7 -0 -1 4 -3 -0 0
Free Cash Flow 6 -25 -42 -46 185 -364 5 127 -1 -1 -25 0
CFO/OP 54% 4% -12% 70% 537% 247% -61% -1,133% 20% 94% 457% 0%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 136 108 148 121 116 218 107 258 384 437 161
Inventory Days 92 80 96 90 104 155 234 127 90 939 217
Days Payable 43 22 61 36 131 78 3,671 3,498 4,187 133 157
Cash Conversion Cycle 186 166 182 176 89 295 -3,329 -3,113 -3,714 1,242 220
Working Capital Days 12 43 43 45 49 -63 -47,300 -40,329 -58,593 446 253
ROCE % 16% 15% 13% 15% 2% -9% 33%

Insights

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 43.15%
1.46% 1.46% 1.46% 1.46% 1.46% 1.46% 1.46% 1.46% 1.46% 1.46% 1.46% 1.46%
0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.79% 46.79% 55.33%
No. of Shareholders 40,43240,41940,41640,40440,39240,38540,38040,37540,37040,36140,36240,353

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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