Nitin Fire Protection Industries Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, while continuing to operate under the Corporate Insolvency Resolution Process. The company has been under liquidation since January 18, 2022, following NCLT orders, with Mr. Uliyar Balakrishna Bhat serving as the liquidator.

Financial Performance Overview

The company's standalone financial results show mixed performance across different periods. Revenue from operations for Q3FY26 reached ₹653.41 lakhs, representing an increase from ₹595.14 lakhs in the corresponding quarter of the previous year.

The significant difference in net profit compared to the previous year is primarily due to exceptional items of ₹97,231.49 lakhs that were recorded in Q3FY25, which were not present in the current quarter.

Nine-Month Performance

For the nine-month period ended December 31, 2025, the company demonstrated stronger overall performance. Revenue from operations increased substantially to ₹1,373.74 lakhs compared to ₹715.56 lakhs in the corresponding period of the previous year.

Expense Analysis

The company's cost structure shows significant changes across periods. Cost of materials consumed increased to ₹458.98 lakhs in Q3FY26 from ₹231.84 lakhs in Q3FY25. Employee benefits expenses rose to ₹102.89 lakhs from ₹42.41 lakhs year-over-year. Finance costs were eliminated in the current quarter compared to ₹19.55 lakhs in the previous year.

Liquidation Status Update

The company remains under liquidation proceedings initiated in October 2018. The liquidator successfully completed the sale of the company as a going concern under Section 33 of the Insolvency and Bankruptcy Code, 2016, with a sale certificate issued on October 3, 2024. The NCLT Mumbai Bench approved the sale with clean slate status on June 3, 2025, though the final liquidation closure order is still awaited.

Consolidated Results

On a consolidated basis, which includes subsidiary Eurotech Cylinders Private Limited and associate Worthington Nitin Cylinders Private Limited, revenue from operations reached ₹711.49 lakhs for Q3FY26. Consolidated net profit after taxes stood at ₹45.89 lakhs for the quarter.

Key Financial Metrics

Earnings per share for the standalone entity was ₹0.00 for Q3FY26 compared to ₹33.39 in Q3FY25. The paid-up share capital remains unchanged at ₹5,845.39 lakhs with a face value of ₹2 per share. The company has filed an interlocutory application for cancellation and issuance of fresh equity shares, pending approval.

The financial results were approved by the liquidator on January 16, 2026, and have been reviewed by statutory auditors Tolia & Associates, who expressed an unqualified conclusion on the unaudited results.

Nitin Fire Protection Industries Limited has announced the rescheduling of its liquidator meeting due to a mandatory state holiday declared by the Government of Maharashtra. The meeting, originally scheduled for January 15, 2026, has been postponed to January 16, 2026, to consider the company's quarterly financial results.

Meeting Rescheduling Details

The Government of Maharashtra declared January 15, 2026, as a mandatory holiday for various Municipal Corporation Elections across the state through a circular dated December 30, 2025. Following this announcement, the company's liquidator, Mr. Uliyar Balakrishna Bhat, decided to reschedule the meeting to ensure proper conduct of business.

Meeting Agenda and Financial Results

The liquidator meeting will focus on reviewing the company's financial performance for the recent quarter. The primary agenda includes consideration and approval of unaudited financial results for the quarter and nine months ended December 31, 2025, on both standalone and consolidated basis, along with the Limited Review Report.

Company's Liquidation Status

Nitin Fire Protection Industries Limited has been operating under liquidation proceedings since January 18, 2022, following an NCLT order. The company initially entered the Corporate Insolvency Resolution Process on October 22, 2018, before transitioning to liquidation. The liquidator has successfully completed the sale of the company as a going concern under Section 33 of the Insolvency and Bankruptcy Code, 2016, issuing a Sale Certificate dated October 3, 2024. However, the company awaits the final liquidation closure order from the NCLT.

Trading Window and Stock Exchange Status

The trading window for designated persons and their immediate relatives remains closed from January 5, 2026, and will continue until 48 hours after the announcement of the financial results. Additionally, trading in the company's securities on both BSE Limited and National Stock Exchange of India Limited has been suspended due to the liquidation order dated February 9, 2022.

The company operates under the regulatory framework of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and continues to fulfill its disclosure obligations despite being in liquidation proceedings.