Steelbird Eyes Larger Market Share
Steelbird Hi-Tech India records sales of 6 lakh units in September, after the implementation of the New Motor Vehicle Act, it is now gearing to boost its manufacturing capacity.
Unveiling the growth strategy, Rajeev Kapur, MD, Steelbird Hi-Tech India said: “The company’s future growth strategy entails ramping up capacities to expanding the geographical reach and new offerings”.
“The company is boosting the manufacturing capacity of its state of the art plant in Baddi in Himachal Pradesh with an investment of about Rs 150 Crore. “With a capacity to manufacture 44, 500 helmets per day, we will employ 2000 plus new employees and will be selling more than 11 lakhs helmets December onwards,” added Kapur.
It will help meet the growing market demand of helmets and add to the company’s growth story which is growing at 22% CAGR.
Steelbird is looking to launch various innovative helmets models for consumers across all segments. Its R&D facility is working on product developments that will cover the entire business spectrum and the consumer's needs and aspirations. The company is hoping to cross Rs 1,000 Crore turnover from helmet business by 2020-21.
“The time is extremely favorable as the industry has a lot of support from the government. The policymakers are doing their best to ensure the road safety of the citizens. Road safety has become a very important concern in our country because so many fatalities are occurring and the government is putting a lot of efforts to save human lives” concluded Rajeev Kapur.
The expansion of the state of art plant in Baddi will further boost the company’s presence worldwide. With an investment of over 150 Crore, the Baddi plant will be equipped with the sector’s latest technology. Also, it plans to cover the entire spectrum of the customer from low to premium.
