Mumbai, 20th May 2014: Nitin Fire Protection Industries Ltd (NFPIL) a leading Fire Protection Engineering Group announced its financial results for the quarter ended 31st March 2014. The consolidated net sales for the FY14 stood at Rs1016.12 crores up by 44.19% as against of Rs. 704.69crore in FY13. The consolidated EBITDA for the FY14 was up by 40.98% to Rs.113.67 crores as against Rs.80.63 crores in the similar period last year. The consolidated net profit in FY14 was Rs.66.52 crores, as compared to Rs.57.01 crores in FY13. EPS for the year was Rs. 3.02 per share.
The consolidated net sales for the Q4FY14 stood at Rs. 347.22 crores as against of Rs.113.80 crores in Q4FY13. The consolidated EBITDA for the Q4FY14 was Rs. 27.69 crores as against operating loss of Rs.4.41 crore in the similar period last year. The consolidated net profit in Q4FY14 was Rs. 16.56crores, as compared to the profit of Rs.2.16 crore in Q4FY13.The EPS for the quarter was Rs.0.75.
The revenue from the operations in UAE was Rs 511.27 crore, which consisted approx. 50.31% of the sales during FY14. The company enjoys a range of products with National and International Approvals.
Commenting on the results, Mr. Nitin Shah, Chairman of the Board said: “Our FY14 results have been in line with our expectations with a strong growth coming in all the segments. During the year our UAE operations have performed extremely well and have contributed 50% to our revenues. Going forward we are expecting our Indian operations to pick up on the back of new reforms coming in from the new government.”
He further adds “We are happy to share that our unexecuted order book at the end of 31st March 2014 stands at Rs. 395 crore. we also are in the growth momentum and we expect that the demand for fire protection worldwide is growing including India where we have a very strong presence already.”
Key highlights for FY14
- During the year company successfully completed share buy back of Rs 7.7 crore (1.34 million shares)
- The Institute of Fire Engineers, New Delhi awarded Global Fire Award 2013 to Mr. Nitin Shah
- Expanded its operations to European markets through Nitin ventures FZE UAE. The company will be operating in Europe under the brand name of “FIRETEC”.
About Nitin Fire Protection Industries Limited – [BSE: 532854, NSE: NITINFIRE]
Nitin Fire Protection Industries Limited [NFPIL] is a global comprehensive solution provider in the fire protection business providing solutions, including procurement, designing, system integration, commissioning and installation of fire protection safety solutions. The company has expanded its presence globally to Europe, Middle East and South East Asia through its subsidiaries. For more information, please visit www.nitinfire.com