See 20-25% revenue growth in FY11: Nitin Fire Protection

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See 20-25% revenue growth in FY11: Nitin Fire Protection

Nitin Fire Protection Industries has announced that its subsidiary has received and is executing a single order of over USD 3.5 million. In an interview with CNBC-TV18, Rahul Shah, Executive Director, Nitin Fire Protection spoke about the recent order, its business plans and gave an outlook on margins going forward.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » RELATED NEWS Nitin Fire Protection plans to expand in Europe Movers & Shakers: Zylog, Thermax, Cox & Kings, Nitin Fire ALSO READ See latest News about Nitin Fire Prot See previous management interviews See what other Experts & Brokerages are saying about Nitin Fire Prot Nitin Fire Prot BSE | NSE 10/02/12 Are Mutual Funds betting on Nitin Fire Prot?

End-to-end solution provider for fire protection, safety and security, Nitin Fire Protection Industries has announced that its subsidiary has received and is executing an order for design supply, testing and commissioning of special fire fighting and liner heat detection systems for utility tunnel of over USD 3.5 million.

Shares of the company fell Rs 4.35, or 1.2%, at Rs 358.85 at close of trade yesterday. It however rallied back to 361.5 today, up Rs 2.65.

The company has capabilities in manufacturing, designing, engineering, commissioning and maintenance. It has announced its intention to go for an acquisition particularly in Europe and in the fire protection business. Other than inorganic growth plans, it's not contemplating any major capital expenditure next year.

The company is also looking at ramping up its CNG cylinder manufacturing unit in Vizag SEZ. It had set up 5 lakh units per annum in 2008. But it operates at only at 25% capacity, which is expected to go up only to 30% in FY11.

It has tied up with Tata Motors and Swaraj Mazda for supplying CNG cylinders.

Its other ventures include holding a stake of 11.1% in a 4,613 square kilometre petroleum exploration block in Rajasthan. Exploratory drilling is underway. Results of the exploratory drilling are expected to be known by September 2010.