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 3.22
  • Book Value 0.76
  • Dividend Yield 0.00 %
  • ROCE %
  • ROE %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of -36.0% over past five years.
  • Promoters have pledged 61.2% of their holding.
  • Earnings include an other income of Rs.22.4 Cr.
  • Company has high debtors of 821 days.
  • Working capital days have increased from -61,464 days to 1,333 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

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
1.66 1.21 0.32 0.63 2.48 0.59 0.17 1.03 5.95 -4.50 2.97 4.24 6.53
2.04 22.84 1.19 0.98 4.18 5.63 1.39 3.90 3.59 -0.03 4.49 5.60 6.49
Operating Profit -0.38 -21.63 -0.87 -0.35 -1.70 -5.04 -1.22 -2.87 2.36 -4.47 -1.52 -1.36 0.04
OPM % -22.89% -1,787.60% -271.88% -55.56% -68.55% -854.24% -717.65% -278.64% 39.66% -51.18% -32.08% 0.61%
3.07 -0.02 0.08 1.75 0.16 0.82 0.07 0.07 973.62 6.32 7.48 8.64 0.01
Interest 0.12 0.12 0.19 0.25 0.30 0.29 0.11 -0.01 0.20 -0.02 0.00 0.00 0.00
Depreciation 0.17 0.17 0.10 0.10 0.04 0.03 0.03 0.03 0.03 0.03 0.04 0.03 0.03
Profit before tax 2.40 -21.94 -1.08 1.05 -1.88 -4.54 -1.29 -2.82 975.75 1.84 5.92 7.25 0.02
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -95.65% 0.00% 0.00% 0.00%
2.40 -21.94 -1.08 1.06 -1.88 -4.54 -1.29 -2.82 975.75 3.61 5.92 7.25 0.01
EPS in Rs 0.08 -0.75 -0.04 0.04 -0.06 -0.16 -0.04 -0.10 33.39 0.12 0.20 0.25 0.00
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
455 489 460 269 55 21 25 13 4 5 4 3 9
416 451 422 348 192 477 95 26 15 29 9 9 17
Operating Profit 39 38 38 -80 -137 -456 -70 -13 -11 -24 -5 -6 -7
OPM % 9% 8% 8% -30% -248% -2,204% -284% -106% -250% -519% -131% -234% -79%
-3 13 11 3 12 49 37 7 8 22 3 8 22
Interest 21 32 35 43 62 96 186 63 117 1 4 0 -0
Depreciation 1 2 7 5 4 2 1 1 1 1 0 0 0
Profit before tax 14 17 8 -124 -191 -505 -221 -71 -121 -3 -6 1 15
Tax % 20% 21% 30% -0% 0% 0% -0% 2% 0% 0% 0% -152%
11 14 5 -124 -192 -505 -220 -73 -121 -3 -6 3 17
EPS in Rs 0.38 0.46 0.19 -4.23 -6.57 -17.29 -7.53 -2.49 -4.13 -0.12 -0.22 0.10 0.57
Dividend Payout % 40% 43% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -41%
5 Years: -36%
3 Years: -15%
TTM: 19%
Compounded Profit Growth
10 Years: -14%
5 Years: 15%
3 Years: 27%
TTM: 422%
Stock Price CAGR
10 Years: -25%
5 Years: 25%
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 44 58 58 58 58 58 58 58 58 58 58 58
Reserves 105 103 108 -28 -220 -725 -945 -1,018 -1,138 -1,142 -1,148 -36
256 296 338 247 555 522 572 599 599 600 599 0
52 121 76 212 126 200 344 386 504 509 512 1
Total Liabilities 456 578 580 489 520 55 30 26 24 25 20 23
12 21 38 33 23 21 18 17 16 11 5 3
CWIP 23 0 2 2 0 0 0 0 0 0 0 0
Investments 13 58 58 54 53 10 6 4 4 4 4 4
408 500 484 400 443 25 7 5 4 10 11 16
Total Assets 456 578 580 489 520 55 30 26 24 25 20 23

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-29 22 -34 124 -278 208 2 122 -1 -2 -31
2 -10 -16 5 10 -1 1 0 4 1 7
7 10 2 -134 268 -207 -3 -123 0 -2 24
Net Cash Flow -20 23 -48 -5 0 1 -0 -1 3 -3 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 127 189 221 344 1,221 320 25 56 151 334 388 821
Inventory Days 87 102 123 127 400 11 6 24 33 144 22 256
Days Payable 25 93 62 293 585 212 885 2,082 7,005 8,729 4,909 116
Cash Conversion Cycle 190 198 282 177 1,035 119 -855 -2,002 -6,821 -8,251 -4,499 961
Working Capital Days 47 14 73 -66 -1,442 -12,348 -13,479 -28,236 -91,437 -85,546 -100,181 1,333
ROCE % 10% 11% 9% -21% -39% -329%

Insights

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Equity Ownership in Rajasthan Oil Block
%
Major Manufacturing Locations
Number
Number of Permanent Employees
Number
Number of Domestic and International Approvals
Number

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68% 51.68%
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%
46.81% 46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.80% 46.79% 46.79%
No. of Shareholders 40,43240,43240,41940,41640,40440,39240,38540,38040,37540,37040,36140,362

* 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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