Nitin Fire Protection Industries proposes to appoint M/s. Deloitte Haskins and Sells LLP as a Joint Statutory Auditor

ugust 18, 2015: Nitin Fire Protection Industries Limited, (NFPIL) a company into designing, engineering, supplying, installing, testing and commissioning of fire protection systems, today, announced its proposal to appoint M/s. Deloitte Haskins and Sells LLP as a Joint Statutory Auditor for the financial year 2015-16 along with Haribhakti & Company LLP subject to shareholders’ approval.

The company which announced its first quarter results last week registered consolidated net sales of Rs. 337.90 crore as compared to Rs 285.01 crore in the same period last year.

A leading fire protection solution provider it caters to various sectors like oil refineries, telecom, IT and protecting specialized assets.  The company has its range of products duly approved by international agencies like Underwriters’ Laboratories (UL) – USA, Loss Prevention Council Board (LPCB)- UK, VDS – Germany, Factory Mutual (FM)- USA and the Bureau of Indian Standard (BIS).  It is the only Indian company to have such large amount of International approvals on its range of products. The company has its presence in India, UAE, Singapore and UK.

The company is largely into EPC business of providing customized solution for fire protection applications specially designed in house to cater to customers’ needs. The company also derives large part of its revenue from its contracting business.

The business is mainly divided into three parts which are:

• Turnkey Solution where company undertakes designing, supplying, testing and commissioning of fire protection systems
• Distribution of products like fire detectors and control panels, portable fire extinguishers and accessories
• After sales support and maintenance of fire protection systems

The company has established a strong foothold in UAE and aims to become one of the major fire protection companies undertaking projects for schools, hospitals, warehouses and industrial and commercial buildings.

Mr. Nitin Shah, Chairman of the Board said, “With the release of sanctions of Iran we expect additional business to come our way. We are also awaiting a pick up in the domestic industrial business which will drive our growth as there is tremendous scope for fire protection in India.”

The company was recently awarded the ‘Asia Pacific Entrepreneurship Awards 2015 India’ by Enterprise Asia, Malaysia in the ‘Outstanding Category’.