Incorporated in 2003, Tolin Tyres Limited ia a leading player in the Tyre & Treads industry with an India presence and a diverse product range. It is one of the companies that are present in both verticals – manufacturing of new tyres and tread rubber.
Company has established itself as a major tyre retreading solutions provider across India and exported to 40 foreign countries, including the Middle East, East Africa, Jordan, Kenya and Egypt. The major products of the Company include tyres for two-wheeler, three-wheeler, light commercial vehicle and agricultural tyres, pre-cured tread rubber and other accessories including bonding gum, tyre flap, vulcanizing solutions, etc.
Strengths And Risks
+ Diversified Product Range : Tolin Tyres offers a total of 154 stock-keeping units (SKU) in tyre category and 993 SKUs in tread rubber, this catalogue has been built over the decades to fit in with market requirements and to fulfil customer needs.
+ Product Quality: Company's tyre plants are BIS approved and almost all required sizes have got BIS product certification, which is mandatory for manufacturing tyres in India. They also have an in-house laboratory for conducting various tests for further improvements in products. They have also been accredited with various quality certifications issued by UK Certifications, accredited with Department of Transportation certificate from USA for exporting products to USA, and E mark E32 certification for Europe.
+ Relationship with large OEMs and dealer network : In over three decades of operations, the company has established long-standing relationships with several well-established Indian and global customers like Marangoni GRP, Kerala Agro Machinery Corporation Ltd (KAMCO), Redlands Motors, Tyre Grip. etc. for products. The diversified product portfolio helps us cater to the requirements of a broad spectrum of customers including OEMs, domestic dealer network, and depots across the country.
+ R&D capabilities: They have a dedicated R&D Centre inside the factory itself located at Kalady. The R&D activities are aimed at growing market share by continually offering technologically backed products while improving operational efficiencies to derive better margins.
- Limited raw material suppliers: The tyre manufacturing industry is exposed to challenges associated with a limited number of suppliers for certain critical raw materials, such as natural rubber and carbon black. Volatility in the prices
and availability of raw materials or any failure by suppliers to make timely delivery of raw materials
could have an adverse effect on business.
- Dependence on automotive industry: The company's business continues to be concentrated on providing products to automotive original equipment manufacturers and is therefore dependent on the performance of the automotive sector in India.
- Debts: As of January 31, 2024, company's outstanding borrowings on a consolidated basis were Rs 95 Cr (both fund based and non-fund based). Significant indebtedness and any inability to comply with repayment and other covenants in financing agreements could adversely affect the business.
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