Mumbai, the world's largest helmet maker, Steelbird Hi-Tech India expects revenue growth of over 30 per cent in this fiscal year due to higher domestic demand for branded helmets and possible mandatory helmet regulations, it said the company's CEO, Rajeev Kapur.
Kapur also said that Steelbird plans to launch 36 new helmet models for the premium segment at the Milan Motor Show (EICMA) this year, in addition to launching a super high-end model.
"Currently, only 30 percent of motorcyclists wear helmets and only 10 percent of passengers do so. The demand for helmets in the country is expected to grow considerably.
"Currently, 50 million helmets are produced in the country, 45 million branded and five million fake... These (fake) manufacturers are going to close and that demand will come to us (the brand companies)," Kapur said.
He said the company sold eight million helmets in FY24 and expects to sell 10 million in this fiscal year and 15 million by March 2026.
"Last year, we saw 27 per cent (revenue) growth and this year we aim to grow over 30 per cent to Rs 1,000 crore," Kapur said.
Steelbird Hi-Tech had reportedly generated a revenue of Rs 711 crore in FY24.
Steelbird recently announced an investment of Rs 105 crore in its Baddi plant to increase 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 on the domestic market due to demand potential, Kapur said the company is targeting revenue of Rs 100 crore from the export market in the next two years, but added that it will not exceed the 10 percent of total income. .
He said the Baddi plant is expected to start producing 50,000 helmets per day from September, while the south Indian plant, which is likely to be set up at Hosur in Tamil Nadu with an investment of Rs 250 crore with a initial capacity of 20,000 helmets per day. , will be operational by FY27.
"We are going to launch 36 models of helmets in the premium segment. That's why we are developing a lot of products," he said.
According to Kapur, the company could have around 1,000 outlets in the coming years in 220 dedicated facilities as part of its network expansion plans.
Kapur also said that Steelbird plans to launch 36 new helmet models for the premium segment at the Milan Motor Show (EICMA) this year, in addition to launching a super high-end model.
"Currently, only 30 percent of motorcyclists wear helmets and only 10 percent of passengers do so. The demand for helmets in the country is expected to grow considerably.
"Currently, 50 million helmets are produced in the country, 45 million branded and five million fake... These (fake) manufacturers are going to close and that demand will come to us (the brand companies)," Kapur said.
He said the company sold eight million helmets in FY24 and expects to sell 10 million in this fiscal year and 15 million by March 2026.
"Last year, we saw 27 per cent (revenue) growth and this year we aim to grow over 30 per cent to Rs 1,000 crore," Kapur said.
Steelbird Hi-Tech had reportedly generated a revenue of Rs 711 crore in FY24.
Steelbird recently announced an investment of Rs 105 crore in its Baddi plant to increase 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 on the domestic market due to demand potential, Kapur said the company is targeting revenue of Rs 100 crore from the export market in the next two years, but added that it will not exceed the 10 percent of total income. .
He said the Baddi plant is expected to start producing 50,000 helmets per day from September, while the south Indian plant, which is likely to be set up at Hosur in Tamil Nadu with an investment of Rs 250 crore with a initial capacity of 20,000 helmets per day. , will be operational by FY27.
"We are going to launch 36 models of helmets in the premium segment. That's why we are developing a lot of products," he said.
According to Kapur, the company could have around 1,000 outlets in the coming years in 220 dedicated facilities as part of its network expansion plans.