Nitin Fire Protection Q1FY16 Net Sales up 18.56%

Nitin Fire Protection Industries Ltd (NFPIL) leading fire protection engineering and solutions provider today announced its financial results for the first quarter ended June 30th 2015.

Performance Highlight for Q1FY16:
Standalone:
The Standalone net sales for Q1FY16 stood at Rs. 134.21 Crores against Rs 120.03 Crores in Q1FY15. The standalone EBITDA for the quarter stood at Rs.14.41 Crores as against Rs.10.81 Crores in the similar period last year.

Consolidated:
The Consolidated net sales for Q1FY16 stood at Rs. 337.90 Crores against Rs 285.01 Crores in Q1FY15. The Consolidated EBITDA for the quarter stood at Rs.39.83 Crores as against Rs.30.56 Crores in the similar period last year. The Consolidated net profit after tax in Q1FY16 was Rs. 20.77 Crores, compared to Rs. 18.80 Crores in Q1FY15 up by 10.47%

The company also proposes to appoint M/s Deloitte Haskins and Sells LLP as the joint statutory Auditor for the financial year 2015-16 along with Haribhakti & Company LLP

20th Annual General Meeting will be held on 21st September, 2015 at 2.15 pm at Kamalnayan Bajaj Hall. Bajaj Bhavan, Ground Floor, 226, Nariman Point, Mumbai - 400 021

Highlights for Q1FY16: 1st April, 2015 till 30th June 2015
Company has received the approval for UL (Underwriters’ Laboratory) for its Emergency Lights for use into Fire Safety Application. This shall open a market opportunity which is currently over 250 Mln USD. This approval has been awarded to us after rigorous testing and stringent approval mechanism which the company has undergone. We are the only Indian company with such large number of International approval on its range of products for fire-fighting applications and its products are currently accepted into various global markets. This way we can proudly say that we are moving towards becoming Indian multinational into the fire protection industry.

Management comments:
Commenting on the results, Mr. Nitin Shah, Chairman of the Board said, “With the government’s current emphasis on the infrastructure sector and strong focus on fast tracking key projects we are looking forward for a renewed spurt in our business and current order book size.”

The upcoming quarter will witness the commencement of new projects and targeting growth form allied sectors as well. Through our constant pursuit of enhancing product offerings and high-end customization we aim to sustain our growth momentum in the domestic and international markets, thereby expanding our customer base.” he added