Tolins Tyres IPO

Tolins Tyres Ltd

₹14,190 /66 sharesMinimum Investment

Tolins Tyres IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
--₹226.00₹228.00₹2.00 (0.88%)

Tolins Tyres IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
9 Sep ‘24 - 11 Sep ‘24₹14,19066₹215 - ₹226
Issue SizeIPO Doc
230.00Cr
RHP PDF

Subscription rate

As of 11 Sep'24, 05:00 PM
Qualified Institutional Buyers25.42x
Non-Institutional Investor27.23x
Retail Individual Investor20.08x
Total23.14x

About Tolins Tyres

Tolins Tyres is a tyre manufacturing company, engaged in the production of both new tyres and tread rubber. The company’s product range includes tyres for two-wheelers, three-wheelers, light commercial vehicles, and agricultural machinery. Tolin Tyres also produces accessories like precured tread rubber, bonding gum, tyre flaps, and vulcanising solutions. The company’s primary business is the manufacturing of bias tyres for light commercial vehicles, agricultural equipment, and two- and three-wheeler vehicles. The company has three manufacturing facilities. Two of these are located at Mattoor in Kalady, Kerala, and the third is located in Al Hamra Industrial Zone in Ras Al Khaimah in the UAE. The company and its wholly-owned subsidiaries have a consolidated manufacturing capacity of 1.51 million tyres, 12,486 tonnes of tread rubber and 17,160 tonnes of rubber compound.;
Founded in
2003
Managing director
Dr. Kalamparambil Varkey Tolin
Parent organisation
Tolins Tyres Ltd

Strengths & Financials of Tolins Tyres

Strengths
Risks
The company’s products are exported to 40 countries, including key markets in the Middle East, East Africa, Jordan, Kenya, and Egypt.
Tolins Tyres caters to a wide market spectrum. The company’s OEM partners include Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, and Tyre Grip.
As of March 31, 2024, the company had a pan-India network of sales channels, with eight depots and 3,737 dealers.
Tolins Tyres offers a product catalogue consisting of 163 stock-keeping units (SKUs) in the tyre category and 1,003 SKUs in tread rubber.
The company has developed T Grip series tyres, which are designed for lower rolling resistance without compromising on longevity. These tyres feature a special blend of rubber compounds to enhance traction in both wet and dry conditions and have new tread patterns. Additionally, the T Grip series complies with BIS Standards.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 113.36 crore in FY22 to Rs 118.25 crore in FY23 to Rs 227.22 crore in FY24, while PAT increased from Rs 0.63 crore in FY22 to Rs 4.99 crore in FY23 to Rs 26.01 crore in FY24.
A significant part of the revenue is generated from the sales of bias tyres. This segment contributed Rs 55.12 crore (24.26%), Rs 24.79 crore (20.97%), and Rs 19.40 crore (17.11%) to the company's revenue from operations in FY24, FY23, and FY22, respectively. A decrease in demand for bias tyres could negatively impact the company's revenues and operations.
The company's tyre products are primarily sold through dealers and distributors. They accounted for Rs 163.17 crore (71.81%), Rs 26.86 crore (22.71%), and Rs 16.13 crore (14.23%) of the revenue from operations in FY24, FY23, and FY22, respectively. The company does not have any long-term agreements with these dealers and distributors. So, if the company fails to maintain these relations, it could negatively affect the company’s business.
The company, its directors, promoters, and subsidiaries are involved in legal proceedings. Any adverse judgments in these cases could be detrimental to the company’s business prospects.
As of August 23, 2024, Tolins Tyres had outstanding borrowings of Rs 101.32 crore. Any inability to service or repay these loans could adversely affect the business.
Kerala accounted for 46.71%, 66.91%, and 63.33% of the sales of the company in FY24, FY23, and FY22, respectively. Any adverse developments in the business environment of the state could hurt the company’s sales and finances.

Tolins Tyres Financials

*All values are in Rs. Cr
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Application Details of Tolins Tyres IPO

Apply asPrice bandApply upto
Regular215 - 226₹2 Lakh
High Networth Individual215 - 226₹2 - 5 Lakh
For Tolins Tyres IPO, eligible investors can apply as Regular.