Helmet manufacturer, Steelbird Hi-Tech India is setting ambitious targets for the fiscal year 2024-25, aiming to market 10 million helmets. To achieve this milestone, Steelbird is undertaking substantial growth initiatives, including the expansion of manufacturing capacity at its existing plant in Baddi, Himachal Pradesh, and the prospect of establishing a new state-of-the-art manufacturing facility in southern India, potentially in Hosur.
Steelbird Hi-Tech is augmenting the manufacturing capacity at its Baddi plant by integrating new machinery and production lines, transitioning towards a more automated mode by installing an automated paint shop and robotic visor coating system. Additionally, the company has procured additional land in Baddi for further expansion, allocating a capital expenditure (capex) of Rs. 105 crore for this endeavour. Upon completion, the production capacity at the Baddi plant will escalate 45,000 to 50,000 units a day.
In an effort to further enhance production capabilities, Steelbird is contemplating the establishment of a new greenfield manufacturing facility in southern India, near Hosur. This facility is envisioned to cater to the aftermarket and meet the demands of various OEMs (Original Equipment Manufacturers) based in South India. In the initial phase, an investment of Rs 100 crore is planned, with total capex over two years estimated at Rs 250 crore. The plant is anticipated to commence operations within the next two years, and the company is in the final stages of acquiring the land for the facility.
Aligned with its expansion strategy, Steelbird intends to significantly broaden its product range. The ongoing fiscal year will witness the introduction of 70 new helmet models, showcasing advanced features such as bluetooth integration, air flow technology and other cutting-edge innovations.
In 2023, the company distributed more than 8 million units globally. This surge contributed to the group’s revenue reaching to 711 crores from April 1, 2023, to March 31, 2024. The ambitious objective for the current financial year ( April 1, 2024, to March 31, 2025) is to manufacture 10 million helmets. By the conclusion of the subsequent year, the company plans to elevate overall production to 15 million helmets annually.
Rajeev Kapur, Managing Director of Steelbird Hi-Tech India, underscored the company’s dedication to road safety. Citing alarming statistics from the World Health Organisation (WHO), Kapur highlighted that 300,000 individuals succumb to road accidents annually in India, with the actual figures likely surpassing due to underreporting in regions lacking adequate traffic enforcement. “Many states and districts in our country lack proper traffic enforcement, and numerous accidents remain unreported. If we cross-reference the data with insurance companies, the numbers are significantly higher. Hence, it is imperative for us to urgently address this issue, leaving no stone unturned,”
Kapur projected that the company anticipates concluding the current fiscal with a topline exceeding Rs 900 crore, a significant increase from around Rs 711 crore in the 2023-24 fiscal year. By 2026-27, the company aims to achieve a turnover of Rs 1,300 crore.
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