PTL Enterprises Ltd (PTL) is an India-based holding company incorporated in 1959. Initially known for its unique business model of leasing tire manufacturing facilities, the company has undergone significant corporate restructuring to emerge as a focused entity with strategic asset-based operations.
The primary revenue driver for PTL Enterprises is its tire manufacturing facility, leased to Apollo Tyres Ltd (ATL) under a fixed-income lease rental agreement. The truck-bus cross-ply tires manufactured at PTL's plant, leased to Apollo Tyres Ltd under the 'Apollo' brand, are sold and exported by ATL. This arrangement provides PTL with a steady stream of rental income from one of India's leading tire manufacturers.
PTL's core business includes a steady lease rental income of ₹500 million per annum from Apollo Tyres, to whom the company has leased its 33-acre land parcel located in Kalamassery, Kerala. This facility, which commenced commercial production in September 1962, is currently leased to Apollo Tyres on a long-term basis, with all production handled by Apollo Tyres. The relationship with Apollo Tyres dates back to 1995 when PTL was declared a sick unit by the Board for Industrial and Financial Reconstruction (BIFR) and was taken over by Apollo Tyres under a rehabilitation scheme.
Annual Performance (Year Ended March):
- FY2025: Net profit rose 54.07% to ₹36.30 crore, while sales declined 0.02% to ₹64.34 crore.
- FY2024: Net profit was ₹23.56 crore, and sales were ₹64.35 crore.
Quarterly Performance (Quarter Ended March):
- Q1 2025: Net profit rose 57.37% to ₹8.75 crore, while sales declined marginally by 0.06% to ₹16.07 crore.
- Q1 2024: Net profit was ₹5.56 crore.
- Market Capitalization: ₹615.02 Cr (as of July 2, 2025)
- P/E Ratio: 16.94
- P/B Ratio: 0.73
- Dividend Yield: 3.77%
- 52-Week High/Low: ₹48.70 / ₹34.72
- Promoter Holding: 69.82% (as of Dec 2024)
- Lease Rental Income: ₹500 million per annum from Apollo Tyres
PTL Enterprises previously had significant exposure to the healthcare sector through its hospital operations. The company's first super specialty hospital project, Artemis Health Institute (AHI), commenced in Gurgaon in July 2007. A new 47-bedded hospital unit, Artemis Hospital in Dwarka, New Delhi, began operations in September 2012.
However, this healthcare business was subsequently divested. Through a Scheme of Demerger sanctioned by the Kerala High Court and National Company Law Tribunal, effective March 8, 2017, the Medicare and Healthcare Services Business undertaking was demerged into Artemis Global Life Sciences Ltd. Consequently, PTL ceased to be the holding company for Artemis Health Sciences Ltd, Artemis Medicare Services Ltd, Artemis Global Life Sciences Ltd, and Athena Eduspark Ltd.
PTL Enterprises announced that the Board of Directors recommended a final dividend of ₹1.75 per equity share (175%), subject to shareholder approval. The record date for dividend payment was fixed as July 11, 2025.
The company maintains a stable ownership structure with a promoter holding of 69.82% as of December 2024, indicating strong promoter confidence in the business.
- Auditor: SCV & Co LLP
- Chairman: Onkar S Kanwar
- Company Secretary: Pradeep Kumar
- Annual General Meeting (AGM): The 64th AGM is scheduled to be held on August 1, 2025.
PTL Enterprises presents a unique investment proposition with its asset-light business model, generating steady rental income from a leading tire manufacturer. The company has reduced its debt and is almost debt-free, providing significant financial stability.
However, investors should note that the company has delivered a poor sales growth of 0.35% over the past five years and a low return on equity of 3.68% over the last three years.
The stock belongs to the Consumer Discretionary sector and the Tires & Rubber sub-sector, offering exposure to the automotive and tire industry through its strategic partnership with Apollo Tyres, while maintaining a relatively stable income profile through its lease-based business model.
