At the EGM of Nitin Fire Protection Industries Ltd. held on 12th September 2011, the Shareholders passed a resolution for issue of bonus Shares in the proportion of 5 bonus Shares for every 2 fully paid-up Equity Shares held. The Record Date for the purpose of issue of bonus Shares has been fixed as 23rd September, 2011.
During the first quarter of the current year, the Company’s consolidated sales grew by 80% to Rs. 161.45 crores (Rs.89.72 crores) while consolidated Net Profit increased by 145.8% and stood at Rs.23.64 crores (Rs.9.63 crores).
The Company has registered significant growth in both domestic and international markets, particularly in Muscat, UAE and Far East. During the first quarter the company’s domestic sales grew by 32.2% to Rs.42.1 crores (Rs.31.8 crores) while the international business, jumped by 106% to Rs.119.3 crores (Rs.57.9 crores).