---
title: "Nitin Fire Protection Industries Ltd (NITINFIRE) — Share Price, Financials & Analysis"
symbol: "NITINFIRE"
company: "Nitin Fire Protection Industries Ltd"
canonical: "https://tapetide.com/stocks/NITINFIRE"
isin: "INE489H01020"
nse_symbol: "NITINFIRE"
bse_code: "532854"
sector: "Industrials"
industry: "Industrial Manufacturing"
generated_at: "2026-09-13T19:41:19.333Z"
---

# Nitin Fire Protection Industries Ltd (NITINFIRE)

Canonical page: https://tapetide.com/stocks/NITINFIRE

## Company

- **NSE Symbol:** NITINFIRE
- **BSE Code:** 532854
- **ISIN:** INE489H01020
- **Sector:** Industrials
- **Industry:** Industrial Manufacturing
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2007-06-05
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** nitinfire.com

## 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]

## Latest Price

- **Price:** ₹1.85
- **Change:** 0 (0%)
- **Open:** ₹1.85
- **Day High:** ₹1.85
- **Day Low:** ₹1.85
- **Previous Close:** ₹1.85
- **Volume:** 0
- **As Of:** 2022-02-10T04:50:32+00:00

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 327 to 161 days.

### Weaknesses

- Promoter holding has decreased over last quarter: -8.53%
- Tax rate seems low
- Earnings include an other income of Rs.9.83 Cr.
- Company has high debtors of 161 days.
- Working capital days have increased from -19,298 days to 253 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -62% | 70% | 17% |
| revenue growth | 175% | 34% | 7% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1.01 | 3.43 | 1.68 | 0.31 | 3.23 | 6.79 | -4.03 | 3.27 | 5.54 | 7.11 | 8.29 | 4.57 |
| Expenses | 1.54 | 5.1 | 6.21 | 2.15 | 5.71 | 3.65 | 1.54 | 4.02 | 6.89 | 7.59 | 10.05 | 5.81 |
| Operating Profit | -0.53 | -1.67 | -4.53 | -1.84 | -2.48 | 3.14 | -5.57 | -0.75 | -1.35 | -0.48 | -1.76 | -1.24 |
| OPM % | -52.48 | -48.69 | -269.64 | -593.55 | -76.78 | 46.24 | — | -22.94 | -24.37 | -6.75 | -21.23 | -27.13 |
| Other Income | 1.76 | 0.16 | 0.82 | 0.52 | 0.08 | 976.13 | 3.93 | 7.48 | 8.68 | 1.15 | -0.21 | 0.21 |
| Interest | 0.25 | 0.3 | 0.29 | 0.11 | -0.01 | 0.2 | -0.2 | 0 | 0 | 0 | 0.01 | 0 |
| Depreciation | 0.15 | 0.09 | 0.09 | 0.07 | 0.08 | 0.07 | 0.07 | 0.1 | 0.1 | 0.09 | 0.24 | 0.26 |
| Profit before tax | 0.83 | -1.9 | -4.09 | -1.5 | -2.47 | 979 | -1.51 | 6.63 | 7.23 | 0.58 | -2.22 | -1.29 |
| Tax % | 0 | -0.53 | 0.24 | 0 | 0 | 0 | -116.56 | 0 | 0 | 20.69 | -5.41 | 0 |
| Net Profit | 0.83 | -1.89 | -3.93 | -1.5 | -2.46 | 979.01 | -0.53 | 6.62 | 7.24 | 0.46 | -2.47 | -1.35 |
| EPS in Rs | 0.03 | -0.06 | -0.13 | -0.05 | -0.08 | 33.5 | -0.02 | 0.23 | 0.25 | 0.02 | -0.08 | -0.05 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1479.7 | 1326.77 | 887.71 | 17.67 | 8.49 | 9.99 | 6.89 | 6.29 | 24.22 | 25.51 |
| Expenses | 1316.21 | 1281.37 | 952.31 | 28.89 | 19.71 | 35.59 | 12.04 | 13.62 | 28.56 | 30.34 |
| Operating Profit | 163.49 | 45.4 | -64.6 | -11.22 | -11.22 | -25.6 | -5.15 | -7.33 | -4.34 | -4.83 |
| OPM % | 11.05 | 3.42 | -7.28 | -63.5 | -132.16 | -256.26 | -74.75 | -116.53 | -17.92 | -18.93 |
| Other Income | 14.55 | 2.01 | 5.5 | 7.35 | 14.43 | 23.02 | 2.99 | 8.34 | 17.1 | 9.83 |
| Interest | 52.5 | 60.3 | 73.47 | 63.35 | 117.03 | 0.73 | 3.73 | 0.28 | 0.01 | 0.01 |
| Depreciation | 24.47 | 24.71 | 38.05 | 1.02 | 0.93 | 0.87 | 0.49 | 0.3 | 0.53 | 0.69 |
| Profit before tax | 101.07 | -37.6 | -170.62 | -68.24 | -114.75 | -4.18 | -6.38 | 0.43 | 12.22 | 4.3 |
| Tax % | 2.5 | -0.96 | 0.3 | 2.45 | 0.02 | -0.24 | 0 | -409.3 | 0 | — |
| Net Profit | 98.53 | -63.6 | -167.21 | -69.91 | -116.59 | -4.17 | -6.39 | 2.2 | 11.85 | 3.88 |
| EPS in Rs | 3.37 | -2.18 | -5.72 | -2.39 | -3.99 | -0.14 | -0.22 | 0.08 | 0.41 | 0.14 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 58.45 | 58.45 | 58.45 | 58.45 | — | 58.45 | 58.45 | 58.45 | 58.45 | 58.45 |
| Reserves | 378.98 | 531.76 | 447.52 | 285.78 | — | -1132.01 | -1136.36 | -1143.16 | -31.83 | -19.97 |
| Borrowings | 501.98 | 554.57 | 450.76 | 829.84 | — | 589.63 | 602.7 | 601.45 | 5.92 | 3.6 |
| Other Liabilities | 189.04 | 142.34 | 348.38 | 228.9 | — | 525.43 | 516.19 | 519.42 | 9.37 | 31.68 |
| Total Liabilities | 1128.45 | 1287.12 | 1305.11 | 1402.97 | — | 41.5 | 40.98 | 36.16 | 41.91 | 73.76 |
| Fixed Assets | 191.59 | 289.82 | 303.94 | 310.5 | — | 19.14 | 14.14 | 10.19 | 7.51 | 10.47 |
| CWIP | 0 | 1.62 | 1.99 | 159.82 | — | 0 | 0 | 0 | 0 | 0 |
| Investments | 38.13 | 39.66 | 7.96 | 11.64 | — | 4.23 | 4.23 | 4.4 | 3.46 | 3.1 |
| Other Assets | 898.73 | 956.02 | 991.22 | 921.01 | — | 18.13 | 22.61 | 21.57 | 30.94 | 60.19 |
| Total Assets | 1128.45 | 1287.12 | 1305.11 | 1402.97 | — | 41.5 | 40.98 | 36.16 | 41.91 | 73.76 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -15.41 | 113.13 | 243.87 | -158.98 | 5.02 | 126.98 | -5.08 | -4.82 | -30.31 | 0 |
| Cash from Investing Activity | -28.37 | -155.85 | -48.07 | -200.22 | 1.21 | 0.01 | 4.18 | 3.74 | 41.5 | 0 |
| Cash from Financing Activity | 68.83 | -4.9 | -203.72 | 366.5 | -6.47 | -127.63 | 4.51 | -2.27 | -11.38 | 0 |
| Net Cash Flow | 25.04 | -47.62 | -7.92 | 7.3 | -0.24 | -0.64 | 3.6 | -3.36 | -0.19 | 0 |
| Free Cash Flow | -42.3 | -45.63 | 184.97 | -363.93 | 4.96 | 126.98 | -0.94 | -1.36 | -24.65 | 0 |
| CFO/OP | -12 | 70 | 537 | 247 | -61 | -1133 | 20 | 94 | 457 | 0 |

### Ratios

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 147.73 | 121.05 | 116.1 | 218.01 | — | 107.48 | 257.95 | 383.54 | 436.96 | 160.65 |
| Inventory Days | 95.57 | 90.42 | 104.47 | 154.64 | — | 234.44 | 127.09 | 89.79 | 938.73 | 216.96 |
| Days Payable | 60.89 | 35.52 | 131.13 | 77.78 | — | 3670.89 | 3497.7 | 4187 | 133.45 | 157.25 |
| Cash Conversion Cycle | 182.41 | 175.95 | 89.45 | 294.87 | — | -3328.98 | -3112.66 | -3713.67 | 1242.24 | 220.36 |
| Working Capital Days | 43.04 | 45.15 | 49.3 | -63.11 | — | -47300.39 | -40329.03 | -58593.36 | 446.24 | 252.73 |
| ROCE % | 13.16 | 14.63 | 2.37 | -9.12 | — | — | — | — | — | 32.78 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Jun 2019 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69.29% | 59.44% | 59.44% | 59.44% | 51.68% | 51.68% | 51.68% | 51.68% | 43.15% |
| FIIs | 3.5% | 2.07% | 2.96% | 2.07% | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% |
| DIIs | 7.2% | 4.59% | 2.51% | 3.4% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
| Public | 20.01% | 33.9% | 35.1% | 35.1% | 46.79% | 46.81% | 46.8% | 46.8% | 55.33% |
| No. of Shareholders | 33401 | 38065 | 36630 | 36231 | 40459 | 40432 | 40404 | 40375 | 40353 |

### Quarterly

| Category | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 51.68% | 51.68% | 51.68% | 51.68% | 51.68% | 51.68% | 51.68% | 51.68% | 51.68% | 51.68% | 51.68% | 43.15% |
| FIIs | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% |
| DIIs | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
| Public | 46.8% | 46.8% | 46.8% | 46.8% | 46.8% | 46.8% | 46.8% | 46.8% | 46.8% | 46.79% | 46.79% | 55.33% |
| No. of Shareholders | 40432 | 40419 | 40416 | 40404 | 40392 | 40385 | 40380 | 40375 | 40370 | 40361 | 40362 | 40353 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 2 / 4

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 73.69 | Buy |
| EMA (10) | 74.93 | Buy |
| SMA (20) | 58.22 | Buy |
| EMA (20) | 60.89 | Buy |
| SMA (50) | 27.46 | Buy |
| EMA (50) | 37.65 | Buy |
| SMA (100) | 14.66 | Buy |
| EMA (100) | 23.07 | Buy |
| SMA (200) | 8.25 | Buy |
| EMA (200) | 13.46 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 100 | Sell |
| MACD (12,26,9) | 17.39 | Buy |
| Stochastic (14,3,3) | 100 | Sell |
| ADX (14) | 92.16 | Buy |
| Williams %R (14) | 0 | Sell |
| ATR (14) | 3.19 | High Volatility |
| ROC (12) | 88.43 | Buy |
| Stoch RSI (14) | 50 | Neutral |
| UO (7,14,28) | 100 | Sell |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-08-31 | [Disclosure Under Regulation 30 - Receipt Of Purchase Order](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=053d7ba5-8433-41e2-8e6e-5a5ac93e114d.pdf) |
| 2026-08-14 | [Board Meeting Outcome for Outcome Of Board Meeting Held Today I.E Friday August 14 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7f985594-5285-4c59-bbbf-0f00c8f931e3.pdf) |
| 2026-08-14 | [Outcome Of Board Meeting Held Today I.E Friday 14Th August 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ab937bc3-84ca-4f85-96af-bd1c196296b4.pdf) |
| 2026-08-14 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=60575d20-93bf-467e-afa6-e332e9e40d47.pdf) |
| 2026-08-07 | [Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Friday August 14 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6b650fa1-a948-413d-8b7a-2ea8d30ee63c.pdf) |
| 2026-06-25 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3c3a7dd5-1535-426e-a9e4-25a1b2258d1c.pdf) |
| 2026-05-30 | [Board Meeting Outcome for For The Board Meeting Held On Saturday May 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e23665ab-7f24-49d1-9ab9-480c1461b5f0.pdf) |
| 2026-05-30 | [Outcome Of The Board Meeting Held On Saturday May 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a818f507-a56d-47d0-a880-1366c4a08c24.pdf) |
| 2026-05-30 | [Disclosure Of Receipt Of ISO Certification](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1f25a9a5-54aa-4686-a1dd-20d1df91e0d6.pdf) |
| 2026-05-26 | [Board Meeting Intimation for Intimation For The Meeting Of Board Of Directors To Be Held On Saturday 30Th May 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3b6471c7-4f96-4a08-990d-8aad92cdbf2d.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 5 Feb - Crisil withdrew ratings on Rs450 crore bank facilities after loans settled (Jan 27, 2026). | [Withdrawal Of Crisil Ratings On The Bank Facilities 5 Feb - Crisil withdrew ratings on Rs450 crore bank facilities after loans settled (Jan 27, 2026).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e0c7919a-93d4-4de5-a02f-9581ebb4df64.pdf) |
| 30 Mar - Trading window closed from April 1, 2026 until 48 hours after audited results for quarter/year ended March 31, 2026. | [Closure of Trading Window 30 Mar - Trading window closed from April 1, 2026 until 48 hours after audited results for quarter/year ended March 31, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/054c4326-2e86-486c-943f-8c1af7355f94.pdf) |
| 17 Feb - Approved office move; appointed Bharat Shah as CFO effective 17 Feb 2026; auditor appointments; seeking recapitalisation. | [Board Meeting Outcome for Outcome Of Board Meeting Held On Today I.E. Tuesday, 17Th February, 2026 17 Feb - Approved office move; appointed Bharat Shah as CFO effective 17 Feb 2026; auditor appointments; seeking recapitalisation.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cbc88353-5fbf-46ed-a5a0-a55a31ffe8c0.pdf) |
| 17 Feb - Appointed Mr Bharat Shah as CFO effective 17-Feb-2026; changed registered office; appointed auditors; seeking recapitalisation investor. | [Announcement under Regulation 30 (LODR)-Change in Registered Office Address 17 Feb - Appointed Mr Bharat Shah as CFO effective 17-Feb-2026; changed registered office; appointed auditors; seeking recapitalisation investor.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b898b450-c5f9-4d40-aec8-b2d2b26dc5c5.pdf) |
| 17 Feb - Appointed CFO Bharat Shah effective 17-Feb-2026; changed registered office; appointed auditors; pursuing recapitalisation and DRT sale-cancellation. | [Announcement under Regulation 30 (LODR)-Change in Management 17 Feb - Appointed CFO Bharat Shah effective 17-Feb-2026; changed registered office; appointed auditors; pursuing recapitalisation and DRT sale-cancellation.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0fc512a2-32fe-4ad1-ae2f-fc0ed356a5d7.pdf) |
| 17 Apr - Company submitted Regulation 74(5) compliance certificate for quarter ended 31 March 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 17 Apr - Company submitted Regulation 74(5) compliance certificate for quarter ended 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/06fae374-20a0-459c-a8c0-66b1437ac811.pdf) |
| 16 Jan - NCLT approved going-concern sale (Order 3 June 2025); Sale Certificate 03 Oct 2024; Dec 31, 2025 results approved. | [Outcome Of Board Meeting Held On Friday, 16Th January, 2026. 16 Jan - NCLT approved going-concern sale (Order 3 June 2025); Sale Certificate 03 Oct 2024; Dec 31, 2025 results approved.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b23cd26a-eb8d-4bf4-bebd-a66e89883536.pdf) |
| — | [Reg. 34 (1) Annual Report. 1 Apr](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1130b1b9-c949-4da6-b94d-ee0019f64cb1.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_NITINFIRE_2010_2011_08082011082526.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_NITINFIRE_2009_2010_09092010120000.zip) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532854/5328540318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/532854/5328540317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/532854/5328540316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/532854/5328540315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/532854/5328540314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/532854/5328540313.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/532854/5328540311.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/532854/5328540310.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:41:19.333Z.