Nitin Fire Protection Industries Limited announced significant corporate developments following its board meeting on February 17, 2026, including key leadership appointments and operational changes that strengthen the company's governance structure.

Key Leadership Appointment

The board approved the appointment of Mr. Bharat Shah as Chief Financial Officer and Key Managerial Personnel, effective February 17, 2026. Mr. Shah brings extensive credentials and experience to the role:

Registered Office Relocation

The company relocated its registered office to enhance operational efficiency. The new address details are:

Auditor Appointments

The board strengthened the company's audit framework with two key appointments:

Secretarial Auditor: M/s. AVS & Associates, Company Secretaries, appointed for financial years 2024-25 and 2025-26. The firm specializes in company law matters, securities laws, merger and amalgamation services, and FEMA-related compliance.

Internal Auditor: M/s. Jimit Kamdar & Associates, Chartered Accountants, appointed for financial years 2025-26 and 2026-27. The firm, led by Mr. Jimit Mahendra Kamdar, brings over 10 years of professional experience in audit and taxation across manufacturing, trading, and service sectors.

Strategic Initiatives

The company outlined several strategic directions during the board meeting:

• Pursuing organic and inorganic growth opportunities as deemed appropriate by the board
• Actively seeking potential investors for company recapitalization
• Filed for cancellation of sale certificate in DRT after accepting consent terms

The board meeting, chaired by Director Allan Lopes, commenced at 4:00 PM and concluded at 5:00 PM on February 17, 2026. All appointments and decisions were made in compliance with SEBI regulations and listing requirements.

Nitin Fire Protection Industries Limited has announced the withdrawal of Crisil ratings on its bank loan facilities worth Rs.450 crore, marking a significant development following the settlement of all financial creditor loans. The company informed stock exchanges on February 5, 2026, about receiving the withdrawal letter from Crisil Ratings Limited dated January 27, 2026.

Rating Withdrawal Details

Crisil Ratings has withdrawn both long-term and short-term ratings assigned to the company's bank loan facilities after due consideration. The withdrawal follows the company's request dated January 14, 2026, and comes after the settlement of all loans from financial creditors.

Facility-wise Breakdown

The withdrawn ratings covered a comprehensive range of banking facilities across multiple financial institutions. The facilities were distributed among several banks including IDBI Bank Limited, Bank of Baroda, Axis Bank Limited, and Dena Bank.

Cash Credit Facilities:

• IDBI Bank Limited: Rs.45 crore
• Bank of Baroda: Rs.20 crore
• Axis Bank Limited: Rs.42.5 crore
• Dena Bank: Rs.5 crore
• Proposed Cash Credit Limit: Rs.12.5 crore

Letters of Credit:

• IDBI Bank Limited: Rs.75 crore
• Bank of Baroda: Rs.40 crore
• Axis Bank Limited: Rs.30 crore
• Dena Bank: Rs.25 crore
• Proposed Letter of Credit: Rs.10 crore

Other Banking Facilities:

• Bank Guarantees through IDBI Bank Limited (Rs.10 crore) and Bank of Baroda (Rs.29 crore)
• Standby Letters of Credit through Axis Bank Limited (Rs.76 crore) and IDBI Bank Limited (Rs.30 crore)

Corporate Communication

The announcement was made through a formal communication to BSE Limited and National Stock Exchange of India Ltd, signed by Director Allan Lopez (DIN: 11304400). The company emphasized that the rating withdrawal follows the complete settlement of all financial creditor loans, indicating improved financial health.

The withdrawal of ratings typically occurs when companies no longer require external credit assessment due to debt settlement or other strategic financial decisions. For Nitin Fire Protection Industries Limited, this development represents the conclusion of its rated debt obligations across multiple banking relationships.