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Nitin Fire Protection Industries Limited Investor Presentation November 2012 * * * * * * * * * * * * Middle East MEYDAN, ADNOC, NCC (Yemen), Takreer, Shobha ... – PowerPoint PPT presentation

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Title: Investor Presentation

Nitin Fire Protection Industries Limited
Investor Presentation
November 2012
  • This presentation is for information purposes
    only and does not constitute an offer,
    solicitation or advertisement with respect to the
    purchase or sale of any security of Nitin Fire
    Protection Industries Limited (Company) and no
    part of it shall form the basis of or be relied
    upon in connection with any contract or
    commitment whatsoever.
  • Any person placing reliance on the information
    contained in this presentation or any other
    communication by the Company does so at his or
    her own risk and the Company shall not be liable
    for any loss or damage caused pursuant to any act
    or omission based on or in reliance upon the
    information contained herein.
  • This presentation is not a complete description
    of the Company. Certain statements in the
    presentation and, if applicable, the subsequent
    question and answer session and discussions
    concerning Companys future growth prospects, are
    forward looking statements which involve a number
    of risks and uncertainties that could cause
    actual results to differ materially from those in
    such forward looking statements. These risks and
    uncertainties include, but are not limited to,
    successfully implement our strategy, our growth
    and expansion, technological changes, investment
    income, cash flow projections, our exposure to
    market risks as well as other risks. Any opinion,
    estimate or projection herein constitutes a
    judgment as of the date of this presentation, and
    there can be no assurance that future results or
    events will be consistent with any such opinion,
    estimate or projection. The information in this
    presentation is subject to change without notice,
    its accuracy is not guaranteed, it may be
    incomplete or condensed and it may not contain
    all material information concerning the Company.
    We do not have any obligation to, and do not
    intend to, update or otherwise revise any
    statements reflecting circumstances arising after
    the date of this presentation or to reflect the
    occurrence of underlying events, even if the
    underlying assumptions do not come to fruition.
  • All information contained in this presentation is
    based on management estimates of fire protection
    industry and has been prepared solely by the
    Company. No information contained herein has been
    independently verified by anyone else. No
    representation or warranty (express or implied)
    of any nature is made nor is any responsibility
    or liability of any kind accepted with respect to
    the truthfulness, completeness or accuracy of any
    information, projection, representation or
    warranty (expressed or implied) or omissions in
    this presentation.
  • The Company accepts no liability whatsoever for
    any loss, howsoever, arising from any use or
    reliance on this presentation or its contents or
    otherwise arising in connection therewith. This
    presentation may not be used, reproduced, copied,
    distributed, shared, or in any other manner

Industry Overview
USD 100,000 MILLION Estimated Annual Worldwide Loss of Assets Due to Fire USD 58,000 MILLION Estimated current worldwide market which is expected to grow to USD 73,000 MILLION by 2015
USD 630 MILLION Current Indian Fire Protection organized market USD 1,870 MILLION Estimated Indian Fire Protection organised market to reach by 2015
31 Expected CAGR for Indian Fire Protection
Market by 2015
Industry Opportunities
Sectoral Opportunities
High Rise Buildings
Commercial Establishments (Malls, theatres, etc)
Residential Apartments
Schools Hospitals
  • The stringent fire protection measures taken by
    Maharashtra Government will open up business
    opportunities of Rs 25,000 mn by sale of Fire
    protection systems
  • Currently, most of the buildings are unprotected
    or under-protected for the basic requirements of
    Fire protection

Current Market Size USD 1,330 mn in FY11
Estimated Market Size USD 3,570 mn in FY15
Company Overview
  • Nitin Fire Protection Industries Ltd. is one of
    the largest and established fire protection
    business in India having grown at a GABR of 45
    over last five years with total revenue of Rs
    5360 million in FY12
  • Founded in 1995 by Mr. Nitin M. Shah with a
    strong domain expertise in the fire protection
    business, who is also the President of Fire
    Protection Association of India (FPAI)
  • Vertically integrated end-to-end solution
    provider ranging from Basic level fire
    extinguishers to the sophisticated fire
    protection security systems and building
    management solutions
  • ISO 90012000 certified for Design, Engineering,
    Manufacturing, Supply, Installation,
    Commissioning and Servicing and employs over 600
    personnel across the globe
  • Presence in the Middle East and South East Asia
    through wholly-owned subsidiaries
  • 11.11 share in a JV with GSPC, HPCL, BPCL, GAIL
    and other consortium partners, for oil
    exploration in Rajasthan State
  • NFPIL has been constantly paying dividends since
    last 5 years
  • NFPIL has completed sub-division (Split) of
    existing equity shares of Rs.10/- each fully paid
    up into 5 equity shares of Rs.2/- each fully
    paid-up on November 08, 2010
  • NFPIL rewarded its shareholders by capitalizing
    reserves and issuing bonus shares at 25 on
    September 23, 2011

Group Structure
holding company in India Fire Protection
Solutions Provider on Turnkey
Nitin Global Singapore Fire Protection
products distribution
Nitin Ventures UAE Fire protection products
Eurotech Cylinders India HPS Cylinder
Worthington Nitin Cylinders India Seamless
cylinder manufacturing JV with Worthington
New Age UAE Turnkey fire protection solutions
NELP VI India Onshore Oil Block
Key Milestones
Further acquired substantial stake in New Age Co.
LLc UAE. Listed once again under Forbes Asia for
the year 2010. Entered into JV for existing
Cylinder Manufacturing Biz With Worthington
Industries Inc.
Certificate to Act as Licensing Agency by State
Govt. Listed for the 3rd consecutive year under
Forbes Asia for the year 2011
Received LPCB Approval Expanded operation in
Fareast. Acquisition 40 stake in New Age Co.
LLC in Dubai
Forbes Award Listed on Forbes Asia for best
under a billion for the year 2009.
Nitin Cylinders Ltd. (NCL) started its
commercial production. Successfully listed on
BSE NSE and expansion in UAE
Received ISO 90012000 Successfully bid awarded
for NELP VI block at Rajasthan
Received major orders from ONGC for replacement
of Ozone depletion systems at their offshore
Only Indian Company to use Ozone friendly Fire
Protection Systems
Business Segments
Nitin Group of Companies
Fire Protection (Revenue contribution 94)
High Pressure Seamless Cylinders (Revenue
contribution 6)
  • Fire Detection systems
  • Fire Suppression systems
  • Fire Protection systems

Turnkey Solutions
  • Fire Extinguishers and accessories

AMC Services
  • Refilling
  • Maintenance

for the year 2011-12
Fire Protection
  • One of the countrys leading end-to-end solutions
    provider of fire protection, safety and security
  • Strong track record of executing projects for 25
  • Primarily focused on Gas based suppression
    systems for mission critical areas
  • Range of products approved by domestic and
    international agencies
  • Only Indian Company to have approvals from
    International accrediting authorities like
    Underwriters Laboratories Inc., USA Factory
    Mutual from USA Loss Prevention Certification
    Board, U.K. And VDS, Germany for Fire protection
    systems and products
  • Servicing marquee clients in the field of
    telecom, data centres, refineries, offshore oil
    platforms and institutions
  • Strong domain expertise in Designing,
    integration, supply, installations, testing,
    commissioning and servicing of various types of
    fire protection systems solutions
  • Facility at Navi Mumbai for integration of
    various fire protection solution including fire
  • Fire protection equipments sold under the brand
    name NITIE

Global Presence
Turnkey Solutions Fire Detection Systems
  • Fire Detection systems are primarily the warning
    systems which activates the system as designed to
    signal in case of
  • Fire
  • Sudden rise in temperature
  • Smoke
  • In all the above probable cases there is high
    chance of fire which needs to be attended to.
    Hence fire detection system installed will give
    an advance signal for any probable action to be
  • There are two types of fire detection systems
  • Manual Fire alarm system These are generally
    used where manually fire is detected and with a
    mode of break glass unit can trigger the alarm
    system to alert
  • Automatic fire alarm system
  • Conventional type These are Fire alarm system
    where you cannot find exact pinpoint of the fire.
    However, it will give you possible location of
    fire automatically and sound the alarm.
  • Intelligent type These are fire alarm system
    where you can find out exact pinpoint location of
    fire and will activate the system as designed
  • Fire detection system also consists of smoke
    sensors, Heat sensors, connected with cable to
    master console control panel which stores all the
    data and events
  • These systems are designed as per National Fire
    Protection Association 72 code Guidelines for
    installation fire protection systems.
  • These alarm systems are generally used at
    enclosed areas, free of dust and external
    temperature like office, commercial complexes,
    hospitals, mall, schools, theaters etc. etc. 

Beam detector
Aspirating Smoke detector
Flame detector
Turnkey Solutions Fire Suppression Systems
  • Gas based Systems used for protection of High
    Value Equipments and Critical areas
  • Commonly used on Critical Equipment and data
  • Fire Fighting agent / FM 200 / Novec 1230 and
    Inert gases for suppression system
  • Helps to control damage and loss of Equipment
  • Computer Suites, EDP Facilities and
    Telecommunications Hardware
  • Internet Service Providers
  • Server Rooms
  • Control Rooms such as railway signalling centres
    and traffic management centres
  • Stores and archives
  • Heritage Sites such as art galleries and museums
  • Medical and laboratory equipment
  • Petrochemical plant, offshore Oil and Gas
    installations, pipeline pumping stations

Turnkey Solutions Fire Protection Systems
  • Hydrant / Sprinkler System
  • System shall be pressurized continuously to
    normal pressure (7.5 Kg/Cm2)
  • System is consisting of Hydrant Pumps( EXCLUDED
    FROM OUR SCOPE), Pressurization arrangement,
    water mains network, hydrant valves, landing
    valve, water monitors, hoses, branch pipes,
    nozzle, hose boxes, etc.
  • MVW Spray System
  • System shall be pressurized continuously to
    normal working pressure up to the Deluge Valves.
  • It shall consist spray pumps, pressurization
    arrangements, water mains network, deluge valves,
    isolation valves, Y-type strainers, spray
    nozzles/projectors/spray nozzles piping net work,
    detection system, instrumentation, local control
    panels, cables etc
  • The system shall be automatic and shall be
    activated by a dedicated detection system to be
    provided for each of the equipment/area
  • Foam Protection System
  • The fixed foam system shall consist of foam
    concentrate tanks, pumps, balancing line with
    automatic controlling valves, foam makers,
    discharge outlets, inter connection piping,
    valves, fittings instrumentation, panel and
    control system.
  • The operation of the fixed foam generator system
    shall be automatic with the aid of dedicated fire
    detection system provided in the tank. As the
    spray system for the tank activate through the
    bursting of QBD on tank.

Deluge valve and spray nozzle
Foam monitor
  • Portable Trolley mounted Fire Extinguishers
  • Fire Detectors and Control Panels
  • Manual Fire Alarm Systems
  • Sounder Beacons
  • Battery24 V DC operated detectors
  • HSSD System
  • Fire Sensing Cable
  • Fire Fighting Pumps
  • Sprinkler Deluge Valves
  • Water Foam Monitors
  • Fire Entry Proximity Suits
  • Fire Escape Chute
  • Fire Fighting Foam Chemicals

Portable fire extinguishers
Foam monitor
AMC Services
  • Maintenance
  • The after sales support and maintenance of NITIE
    brand other international brands of products is
    provided by pool of talented engineers from
    various disciplines
  • Refilling
  • Earns revenue from refilling of fire suppression
    agent such as Novec 1230/ FM 200

Fire Pump
Portable Spray Nozzle
High Pressure Seamless Cylinders
High Pressure Seamless Cylinders
Industrial Cylinders
CNG Cylinders
  • Contract manufacturing with China Govt. plant
    supplier for Industrial Cylinders under our own
    brand and as per our design and specifications.
  • Entered into Joint Venture for our Cylinder
    manufacturing business with Worthington
    Industries Inc in Dec 2010
  • Today, we are holding minority stake of 40 in
    Worthington Nitin Cylinders Private Limited
    (WNCPL) (formerly known as Nitin Cylinders

Industry Associations
  • Sourcing of fire protection equipments in bulk to
    reduce raw material cost
  • Strong sourcing tie-ups for various key raw
    material and equipments required for fire
    protection systems
  • Tie-ups with renowned suppliers are a key
    differentiator as regards competition
  • Authorised and exclusive distributorship in India
    for various detection and suppression products
    helps the company

Company Country Products
Apollo Fire Detectors Limited UK Detection systems
Kidde AirSense UK LHS systems
Dupont USA FM 200 gas
Kidde Fire Protection UK Suppression system for Marine application
Control Equipments Ltd UK Conventional control station
Kentec Electronic Ltd UK Analog Addressable Electronic Panels
Ceodeux UK High pressure Gas Suppression Discharge equipments
BTIC China High Pressure Non-welded one piece s-cylinders
3M USA Fire Suppression chemicals Novec 1230 gas
Diversified Client Base
Oil Gas
Power Metals
Middle East
Indian Navy
Indian Air force
Global Approvals
NFPIL stands as the only Indian Company with more
than 65 International product approvals in the
Fire Protection Industry
Executive Management
Mr. Nitin M. Shah Chairman Managing Director Entered fire industry at an early age of 18 years. He started gaining experience from his father Mr. Mansukhlal H Shah, Owner of Zenith Fire Services. In 1984, he started Nitin Industries as proprietorship firm and later converted into Nitin Fire Protection Industries Ltd in 1995. He has strong domain expertise in Fire Protection business and currently serves as Chairman Managing Director of Nitin Group of Companies. Under his leadership, Nitin Fire Protection Industries Ltd (NFPIL) became a listed company on 05th June 2007. NFPIL stands out as a leader and has introduced several new products for the first time in this market, most important of which was the use of ozone friendly systems in the Offshore Platforms. He is well aware of the market requirements and has a clear vision for which, he has judiciously bagged critical domestic and international licences and approvals from the most renowned accrediting agencies and stays well ahead from his market peers. Currently, NFPIL stands as the only Indian Company with more than 65 International product approvals in the Fire Protection Industry. He is currently President of Fire Protection Association of India (FPAI).
Mr. Rahul N.Shah Executive Director He is a commerce graduate and holds a diploma in the Business Management. Has gained experience in designing of various fire protection systems and has been trained in various international companies. He has gained valuable experience in various fire protection systems. He has been instrumental in companys expansion in foreign territories through organic as well as inorganic modes.
Mr. Kunal N.Shah Executive Director Has completed Bachelor of Engineering in Electronics and Tele Communications in 2006. Since childhood, he has attended technical workshops of Nitin Group and gained knowledge of manufacturing of all the equipments. He has successfully setup cylinder manufacturing unit under Nitin Cylinders Limited. Today, he is CEO Managing Director for Worthington Nitin Cylinders Pvt. Ltd. He is also actively looking after the growth of the Nitin Group.
Mr. Kailat Vaidyanathan Non-Executive Director Has more than 40 years of experience in various engineering fields including about 20 years in the area of High Pressure Seamless Cylinders and Allied Equipments, Mr. Vaidyanathan is responsible for all technical vendor transactions and client dealings for cylinders and allied items.  He holds a Bachelor in Mechanical Engineering with Post Graduation in Industrial Engineering.
Independent Directors
Dr. Surendra A. Dave Independent Director He holds a Ph.D. in Economics and has a total experience of 47 years in finance, banking and securities law. Currently, he has got work exposure with RBI, Industrial Development Bank of India, SEBI and Unit Trust of India. He was a founder chairman of SEBI and also the chairman of Unit Trust of India from where he retired in 1996. Dr. Dave has been associated with various committees of Government of India dealing with reforms in the capital market, mutual funds sector, insurance sector and pensions.
Mr. Krishna Kant Jha Independent Director He is a Mechanical Engineer and a member of the Fellow of Institution of Engineers (FIE), India. Previously, he was an Executive Director (Health, Safety Environment) of Gas Authority of India Limited (GAIL) and has a total experience of 40 years in the areas of project management, operations and maintenance, administration and health, safety and environment related activities
Mr. Ramakant M. Nayak Independent Director He has degrees in science and law and a Diploma in Marketing and Advertising. He is also a certified associate of Indian Institute of Banking. He has an experience of 44 years in the area of investment advisory and banking industry. Mr. Nayak has been associated with various banking and advisory companies such as Sun Global Investments Limited, London, Sun Capital Advisory, Lord Krishna Bank (Now part of HDFC Bank Limited) and Lakshmi Vilas Bank through which he contributed in the areas of banking, finance, economy, human resources, business strategy and risk management.
Mr. Satish Kumar Dheri Independent Director He has worked as the CFO with the Delhi Fire Services and has also been former President of Institution of Fire Engineers (India) Council Honorary Member of Commonwealth and overseas Fire Services Association, U.K., as the Chairman, National Building Code Part IV of Bureau of Indian Standards his contribution has been praiseworthy. He has also worked as Fire Expert for formulation of new building bye-laws for Municipal Corporation of Delhi, in 2005 and also served as Director of International Fire Chiefs Association of Asia from 1984-2001.
Past Financials
Business Activity Revenue Break up
Robust sales growth
Rs. mn
Rs. mn
Rs. mn
Note Figures of Worthington Nitin Cylinders
have been deducted from all the years.
Key Market Information
Institutional holding more than 1
Shareholding Pattern
Name of the Shareholder
Orange Mauritius Investments Ltd 4.69
Elara Capital PLC A/C Vespera Fund Limited 2.44
Credit Suisse (Singapore) Ltd 1.81
Emerging India Focus Funds 1.80
Elara India Opportunities Fund Limited 1.68
Other Institutions 1.84
Total 14.25
as on September 30, 2012
Dividend History
Market Information
Particulars as on 23/11/2012 Rs.
CMP (NSE) 68.60
Market Cap (Rs. mn) 15,196
52 week high 77.40
52 week low 22.50
Bonus NFPIL rewarded its shareholders by
capitalizing reserves and issuing bonus shares at
25 on 23rd Sep 2011
Pledge As on 23/11/2012, 43,170,000 equity
shares of the Company have been pledged for the
working capital needs of the biz
NELP VI Oil Block
  • Entered into a production sharing contract for
    exploration and prospecting of a on-shore crude
    oil block in Rajasthan (NELP VI) in 2006
  • GAIL and GSPC are the main operators for the
    block and HPCL, BPCL and Halworthy are other
    consortium members
  • NFPIL has 11.11 share in a JV for oil
    exploration in Rajasthan State RJ19
  • Investment as on Sept 30, 2012 is Rs. 206.72

Financial Highlights
INCOME STATEMENT (Rs in million) FY11 FY12 H1 FY13 FY11 FY12
Total Income 1,623 1,654 2121 4,523 5,391
EBITDA 345 243 298 814 705
EBIT 342 233 293 761 675
PBT 283 126 214 629 508
PAT 237 101 171 580 470
BALANCESHEET (Rs in million) FY11 FY12 H1 FY13 FY11 FY12
Net worth 1,264 1,381 1,552 2,321 2,657
Total Borrowings 482 1,805 1,098 1,456 2,930
TOTAL CAPITAL EMPLOYED 1,746 3,186 2,650 3,777 5,587
Net Block 27 134 132 1,217 1,278
Investments 638 843 860 607 663
Net Working Capital 1,080 2,210 1,659 1,953 3,646
TOTAL CAPITAL DEPLOYED 1,746 3,186 2,650 3,777 5,587
Financial Highlights
CASH FLOW STATEMENT (Rs in million) FY11 FY12 H1 FY13 FY11 FY12
Cash flow from operating activity (314) (938) 778 (132) (948)
Cash flow from investing activity 379 (249) (20) (12) (264)
Cash flow from financing activity (24) 1,244 (743) (17) (1,267)
Net increase/(decrease) in cash 40 57 16 (137) 55
Cash at the ending of the year 46 151 167 106 161
Thank You
Nitin Fire Protection Industries Limited
Corporate Headquarter 501, Delta, Technology
Street, Hiranandani Gardens, Powai, Mumbai - 400
076. Maharashtra, India. Ph 91 22 4045 7000
Fax 91 22 2570 1110 Website
http// Email