PTL Enterprises Ltd, originally Premier Tyres Ltd, was established in 1959. It now operates primarily as a leasing entity, having leased its tyre manufacturing facility in Kalamassery, Kerala, to Apollo Tyres Limited on a long-term basis. Under a rehabilitation scheme after being declared a sick unit, PTL was effectively taken over by Apollo Tyres in 1995, which included an equity subscription and an irrevocable 8-year lease agreement. Apollo produces and markets the tyres under its brand name.
In addition to its tyre business, PTL expanded into the healthcare sector. It launched the Artemis Health Institute in Gurgaon in 2007 and a hospital in Dwarka, New Delhi, in 2012. PTL's subsidiary, Artemis Global Life Sciences Limited, focuses on medical and healthcare ventures. Following a demerger effective from April 2016, PTL ceased to hold its previous subsidiaries involved in healthcare, with assets and liabilities transferred to Artemis Global Life Sciences Limited.
