Tolins Tyres Ltd. Share Price

Tolins Tyres Margin Outlook & Key Monitors Q2 Margin Pressures - Volume deleverage + fixed cost absorption + RM inflation. - Employee costs up from Q1 skilled labour hiring; absorption via automation + volumes. Cost Innovation - Terra Rubber recycling subsidiary: ₹2 Cr capex; recycles 3-5% scrap, lowers RM costs. - Commissioning Dec/Jan without quality compromise. Guidance Framework - Minimum 10% topline growth commitment. - Margins protected vs prior years; upside possible. Execution Monitors - Q3 volume sustainability. - TN STU order ramp (₹25 Cr FY26). - Apollo job-work to revenue conversion. - Tractor tyre scale-up (₹3-4 Cr incremental). - UAE export utilisation. Big Picture - Classic underutilised manufacturing (32-48% capacity); retreading-led with visible operating leverage. Key Takeaway: Recycling efficiencies + order execution set stage for margin expansion as Tolins converts low utilisation to profitability.

Tolins Tyres Targets 17–20% EBITDA Margins, Diversifies into New Tyre Segments

Tolins Tyres has outlined an ambitious growth strategy, aiming for EBITDA margins of 17–20% and PAT margins of 10–11.5% over the next 2–3 years. The company’s shares rose 2.28% to ₹192.50, reflecting investor confidence. It plans to achieve a 50-55% revenue split between retreading and new tyres, reducing reliance on its traditional business. To support this, Tolins has expanded its portfolio beyond two-wheelers into three-wheelers, SUVs, and agricultural tyres, targeting 70% capacity utilization. The company welcomed the GST cut on tyres from 28% to 18% and is advocating for a reduction in retreading GST—from 18% to 5%—to boost affordability and adoption. With a projected 20–25% revenue CAGR, Tolins is positioning itself as a more diversified and profitable player in India’s competitive tyre industry.

Tolins Tyres Limited_IPO Note

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Tolins Tyres IPO Overview

=> Tolins Tyres is set to launch its IPO from September 9 to September 11, 2024, with shares priced between ₹215 and ₹226 each. Retail investors can apply for a minimum lot of 66 shares, requiring an investment of ₹14,916. The IPO comprises a fresh issue of 8.85 million shares and an offer for sale of 1.33 million shares, aiming to raise ₹230 crore. => The company plans to use the proceeds for debt repayment, investment in its subsidiary Tolin Rubbers, and general corporate purposes. Tolins Tyres, established in 2003, manufactures tyres and tread rubber and serves 40 countries, including markets in the Middle East and East Africa. For FY25, the company reported revenues of ₹228.69 crore and a net profit of ₹100.53 crore, with a Return on Equity of 25.87% and a debt-to-equity ratio of 0.78. => Peers include Indag Rubber, Vamshi Rubber, TVS Srichakra, GRP Ltd., and Elgi Rubber. The grey market premium for Tolins Tyres is around ₹25, indicating a potential listing price of ₹251, approximately 11% higher than the issue price's upper band.