About Company

• The Company was incorporated as ‘Tolins Tyres Pvt. Ltd’ on July 10, 2003, in Kerala. The name was changed to ‘Tolins Tyres Ltd’, upon conversion to public limited company in January 2024. The company manufactures new tyres and tread rubber. The company also manufactures ancillary products like bonding gum, vulcanizing solution, tyre flaps and tubes.
• The company has a diversified product range, with a total of 163 stock keeping units (SKU) in tyre category and 1,003 SKUs in tread rubber.
• The company caters to all three segments of the market viz. exports, domestic sales and Original Equipment Manufacturers (OEMs) like Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, Tyre Grip etc.
• Tolins Tyres has 3 strategically located manufacturing facilities out of which 2 are located at Mattoor in Kalady, Kerala and the third one is located in Al Hamra Industrial Zone in Ras Al Khaimah in UAE.
• The company has a consolidated capacity of 1.51 million tyre manufacturing, 12,486 tons tread rubber manufacturing capacity and 17,160 tons of rubber compound across the company and its wholly owned subsidiaries.
• Tolins Tyres is backward integrated with raw materials, design, process engineering, casting and machining capabilities. For its products, the company is also forward integrated with a network of sales channels through its depot and dealers across key states in India.
• The company markets and sells tyres under the “Tolins Tyres” brand, through dealership network and company’s depots. As on March 31, 2024, the company has a total of 8 depots and 3,737 dealers across the country.
• The company has a dedicated R&D Centre inside the factory itself located at Kalady, Kerala, with an R&D team comprising of 10 employees. As on March 31, 2024, the company has developed 163 new designs and products and has also created moulds for the same.
• The company’s Revenue from Operations grew to ? 227.22 Cr in FY2024 (Consolidated basis), from ? 113.36 Cr (Standalone basis) in FY2022, the Gross Margins improved to 27.76% from 16.29% and the EBITDA margins increased to 20.41% from 5.37% during the same period. The PAT in FY2024 on consolidated basis stood at ? 26.01 Cr as compared to ? 0.63 Cr in FY2022 (Standalone basis).

Strengths

Competitive Strength 

• Diversified Product Range and Customised Product Offering
• Quality of Products
• Long standing relationship with large OEMs and dealer network in India and its Depots
• Integrated manufacturing operations coupled with in-house products and process design capabilities which offer scale, flexibility and comprehensive solutions
• Locational Advantage
• Research and development and product development capabilities
• Experienced and Dedicated Management Team
• Track record of growth and financial performance

 Business Strategies 

• Optimisation of Capacity Utilisation
• Expanding Reach of Domestic Markets
• Expand the Product Range by introducing new products and product range
• Penetrate New Geographies through an Increase in Exports
• Strengthen relationships with the existing customers and expand customer base
• Continue to Improve Operational Efficiencies through Economies of Scale, Supply Chain Rationalization, technology enhancements and effective Resource Planning
• Improve Efficiencies with Technology Enablement
• Pursue Inorganic Growth through Selective Acquisitions

Company Promoters

Company Financials

Tolins Tyres Limited Financial Information (Restated Consolidated)

Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

1. Repayment and/or prepayment, in full, of certain outstanding loans (including foreclosure charges, if any) availed by the Company;
2. Augmentation of long-term working capital requirements of the company;
3. Investment in the wholly owned subsidiary, Tolin Rubbers Private Limited, to repay and/ or prepay, in full, certain of its short-term and long-term borrowings and augmentation of its working capital requirements; and
4. General corporate purposes.