The World's largest helmet maker Steelbird Hi-Tech India is eyeing over 30% revenue growth this fiscal owing to growing domestic demand for branded helmets and potential mandatory regulations on helmet use, Rajeev Kapoor said , General manager of the company. Kapoor also said that Steelbird plans to launch 36 new helmet models for the premium segment at the Auto Expo (EICMA) in Milan this year, besides launching a super high-end model.
“Currently, only 30% of riders wear helmets, and only 10% pillion riders do so. The helmet demand in the country is expected to grow manifold.
"Currently, 50 million helmets are produced in the country - 45 million branded helmets and five million fake helmets... These (fake) manufacturers will go out of business and this demand will come to us (branded companies)," Kapur told PTI.
The company sold eight million helmets in FY24 and expects to sell 10 million in this fiscal year and 15 million by March 2026, he said.
"Last year, we saw 27% growth (in revenue), and this year we aim to grow over 30% to reach Rs 1,000 crore," Kapoor said.
Steelbird Hi-Tech reportedly generated a total turnover of Rs 711 crore in FY24.
Steelbird recently announced an investment of Rs 105 crore in its Baddi plant to increase production capacity to 50,000 units per day and a new manufacturing facility in South India to boost helmet production.
Steelbird has five manufacturing facilities – four in Baddi and one in Noida.
Noting that the company's focus remains onx the domestic market due to demand potential, Kapoor said the company is targeting revenue of Rs 100 crore from the export market in the next two years, but added that it would not exceed 10% of the overall topline.
The Baddi plant is expected to start producing 50,000 helmets per day from September, while the south Indian plant, likely to be set up at Hosur in Tamil Nadu with an investment of Rs 250 crore, has a capacity initial 20,000 helmets per day, will be up and running by FY27.
"We will launch 36 models of helmets in the premium segment. That's why we are developing a lot of products," he said.
According to Kapoor, the company may see some 1,000 outlets in the coming years in 220 exclusive facilities as part of its network expansion plans.
