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PTL Enterprises Ltd share price today (on 3 June 2023).

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BSE: 509220 | NSE: PTL | ISIN: INE034D01031 Market Cap: [Rs.Cr.] 202 | Face Value: [Rs.] 2 Industry: Tyres

PTL Enterprises Ltd. (PTL), was incorporated as a company in 1959. It became an associate company of Apollo Tyres Ltd (ATL) in 1995, when Premier Tyres tyres and tubes manufacturing facility in Kalamassery, Kerala, was acquired by Apollo. This facility began commercial production in September 1962 and currently the plant is leased to Apollo tyres on long term basis. All production is done by Apollo Tyres. PTL Enterprises is the holding company for Artemis Health Sciences.Incorporated in 1959, Premier Tyres (PTL) is managed by Chairman O S Kanwar. PTL manufactures automobile tyres, flaps and belts.
Its manufacturing unit is located at Ernakulam, Kerala. The company was declared a sick unit by the Board for Industrial and Financial Reconstruction (BIFR) and under a rehabilitation scheme prescribed by the Board, PTL was taken over by Apollo Tyres in 1995. This involved Apollo subscribing to Premier's additional equity of Rs 10 cr at par. The authorised capital of the company has increased from Rs 4 cr to Rs 14 cr and its registered office shifted from Mumbai to Cochin.
According to the BIFR order, Apollo will operate Premier's plant on an irrevocable lease of 8 years and pay a total lease rental amounting to Rs 45.50 cr to Premier Tyres. Apollo will lift the entire production of Premier and sell the same under the Apollo brand name.
According to the Consolidated - Audited financial statement for the Year of 2012, total net operating revenues increased with 17.59%, from INR 197.34 tens of millions to INR 232.06 tens of millions. Operating result increased from INR 12.67 tens of millions to INR 59.85 tens of millions which means 372.38% change. The results of the period increased 9.92% reaching INR 17.51 tens of millions at the end of the period against INR 15.93 tens of millions last year. Return on equity (Net income/Total equity) went from 16.62% to 16.58%, the Return On Asset (Net income / Total Asset) went from 5.42% to 4.53% and the Net Profit Margin (Net Income/Net Sales) went from 8.07% to 7.55% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 365.90% compared to 306.91% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 0.64 to 0.41 when compared to the previous year.

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