Tolins Tyres Limited, founded in 1982 and based in Aluva, India, began as a proprietorship concern for the manufacture of tread rubber. It was incorporated as 'Tolins Tyres Private Limited' on July 10, 2003, by the Registrar of Companies, Kerala. Subsequently, upon conversion to a Public Limited Company, its name changed to 'Tolins Tyres Limited' with a fresh Certificate of Incorporation issued on January 26, 2024. The equity shares of Tolins Tyres (Scrip Code: 544254) were listed effective September 16, 2024, following its successful initial public offering.
The company has evolved from a small-scale tread rubber manufacturing unit to become a prominent player in the Indian tyre industry. Tolins Tyres Ltd (TOLINS) belongs to the Consumer Discretionary sector, specifically the Tires & Rubber sub-sector. Over four decades of operations, Tolins has established itself as a comprehensive tyre solutions provider with manufacturing capabilities spanning both new tyre production and tyre retreading products.
TTL manufactures Precured Tread Rubber (PCTR) and tyres for light commercial, agricultural, and two/three-wheelers under the Tolins Tyres brand. It has also integrated backward to produce Bonding Gum, Vulcanizing Solutions, Tyre Flaps, and Tubes. The company operates in both new tyre manufacturing and tread rubber production verticals. Its product range includes bias tyres for vehicles (including LCV, agricultural, and two/three-wheeler vehicles) and precured tread rubber.
The company's comprehensive product portfolio reflects its diversified approach to the tyre industry. As of March 31, 2024, its products include Light Commercial Vehicle Tyres, Off Road/Agriculture Tyres (OTR), Two-wheeler & Three-wheeler Tyres, Tyre Tubes & Tyre Flaps, Precured Tread Rubber (PCTR), Conventional Tread Rubber, Bonding Gum, Vulcanizing solution, Rope Rubber & Others. This extensive range allows Tolins to serve multiple vehicle segments and cater to both original equipment manufacturers (OEMs) and the replacement market.
The company has demonstrated significant innovation in product development. As of March 31, 2024, it had developed 163 new designs and products and created moulds for them. Additionally, Tolins has 163 Stock Keeping Units (SKUs) in the tyre category and 1,003 SKUs in the tread rubber category, showcasing the breadth of its offerings.
Tolins operates three manufacturing facilities: two located at Mattoor in Kalady, Kerala, and the third in the Al Hamra Industrial Zone in Ras Al Khaimah, UAE. This strategic positioning enables efficient service to both domestic and international markets. By 2006, Tolins Tyres achieved a major milestone by becoming a multinational company with the establishment of a plant in Ras-Al-Khaima, UAE.
The company has established a strong international presence through its export operations. Its products have garnered acclaim not only in India but have also made a significant impact across 40 countries, including the Middle East, East Africa, Kenya, Jordan, and Egypt. Tolins is currently exporting its products to more than 45 countries and operates 7 manufacturing facilities. Notably, Tolins stands out as the first Indian retread brand to not only enter but thrive in the highly competitive American market for pre-cured retreading products.
The company has built an extensive distribution network to reach customers across India and internationally. As of March 31, 2024, Tolins operated 8 depots and had 3,737 dealers nationwide. This comprehensive network ensures wide market coverage and accessibility for customers in different regions.
Under the 'Tolins Tyres' brand, it markets and sells tyres for light commercial vehicles, agricultural vehicles, and two/three-wheeler vehicles, primarily in India and exports to the Middle East, the ASEAN region, and Africa. The Company has established itself as a major tyre retreading solutions provider across India and exports to 40 foreign countries.
Tolins Tyres Ltd has a market capitalization of ₹516 Crore as of recent trading data. The company has demonstrated strong financial performance in recent quarters. Net profit rose 65.85% to ₹5.39 Crore in the quarter ended December 2024, compared to ₹3.25 Crore in the previous quarter ended December 2023. Sales increased by 4.27% to ₹42.03 Crore in the quarter ended December 2024, from ₹40.31 Crore in the corresponding quarter of the previous year.
For the full year ended 2024, Tolins Tyres Ltd posted a profit of ₹26.01 Crore on a total income of ₹227.22 Crore. The company maintains a strong balance sheet position, is debt-free, and reports stable earnings growth across business cycles.
Key financial ratios indicate the company's market positioning: The P/E (Price-to-Earnings) ratio is 19.38, and the P/B (Price-to-Book) ratio is 5.01. The company shows an outstanding annual revenue growth of 29%, a great pre-tax margin of 17%, and a good Return on Equity (ROE) of 11%.
Key changes in the Tolins Tyres Ltd shareholding pattern are noted. Promoter holding in Tolins Tyres Ltd has remained stable at 68.53% as of December 2024, the same as September 2024. As of December 2024, company promoters held a 68.53% stake in TOLINS TYRES LTD., with no shares pledged. This indicates strong promoter confidence and commitment to the business.
The company has obtained various quality certifications, including ISO 9001:2015 and IATF 16949:2016, issued by UK Certifications. These certifications underscore Tolins' commitment to maintaining international quality standards in its manufacturing processes.
The company has received significant recognition for its export performance. In 2007, it was awarded the Best Exporter Award by the Government of India, acknowledging Tolins' excellence in the tire industry. This recognition was subsequently awarded until 2011.
Tolins continues to focus on expansion and diversification. The company plans to incorporate a wholly-owned subsidiary, Terra Rubber, for its rubber recycling business, signalling a commitment to sustainable practices and circular economy principles.
The company has been actively engaging with investors and analysts. Tolins Tyres held a virtual investor/analyst meeting without disclosing unpublished price-sensitive information. A virtual one-on-one investor meeting was held with Accord Ventures on June 26, 2025.
Tolins Tyres manufactures bias tyres for a wide range of vehicles, including light commercial, agricultural, and two- and three-wheelers, as well as precured tread rubber. Its businesses are divided into new tyre manufacturing and tread rubber production, with tyre retreading solutions offered in India and 40 countries. This diversified business model positions Tolins well to capitalize on growth opportunities across different market segments while maintaining its leadership position in the Indian tyre retreading industry.
