Steelbird Helmets To Expand Its Manufacturing Capacity
Steelbird Hi-tech India Limited is all set to expand its manufacturing capacity with the expansion of its state of the art plant in Baddi. It will soon be equipped to manufacture 44,500 helmets per day. It will help meet the growing market demand for helmets and add to the company’s growth story which is growing at 22% CAGR.
Commenting on the expansion of the Baddi plant, Mr. Rajeev Kapur, MD, Steelbird Helmets, said “We are investing in the plant considering 300 thousand people are dying on the road in our country as per reports by WHO; but according to us over one million people die in the road accidents because in many of the states and districts in our country, there is no traffic police & many of the accidents are not reported. If we check the data with the insurance companies, the data is much more.
Our New Government & the ministry are doing a lot of work towards road safety. 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. And this move is in sync with the government’s effort to save lives.”
Devoted to the research, development, and manufacturing of high-technology and meeting safety concerns of the riders, Steelbird has already made a move in this direction. The company has bought 15600 square meters of new land adjoining to the existing plants.
The expansion of the state of art plant in Baddi will further boost the company’s presence worldwide. With an investment of over 150 Crores, the plant will be equipped with the sector’s latest technology. It will help the company to expand its product portfolio and add more models to the existing one. Also, it plans to cover the entire spectrum of the customer from low to premium.
The plants will have soon have a total of 6,00,000 Lac square feet built-up area and are expected to be ready by August 2019. The plants will have an average production capacity of manufacturing 44.500 helmets a day and will add nearly 2500 new jobs in the Baddi Himachal Pradesh region.
Also with motor vehicle act all two-wheeler manufacturers have to provide helmet while the purchase of a new two-wheeler, all state Governments will enforce this law phase wise, as Tamil Nadu has already done it, and Steelbird is hopeful that all the State Governments will enforce this law and consequently the market of the helmet will boost many folds.
“Currently the helmet is mandatory Pan India but the law is enforced only in Delhi, Chandigarh & Jaipur. Soon Government will make helmet mandatory and enforce the law Pan India; this will lead to incredible demand in the market. The total demand for ISI helmets in India will be 100 Million helmets annually.
The expansion of the plant will enable further growth for the company tapping on the new opportunity. We will not only be improving the company’s helmet offerings but also reinforcing our commitment to bring more advanced and innovative products which are at par with international standards.” Further added Mr. Rajeev Kapur
