Steelbird Hi-Tech aims to sell 10 million helmets in the FY24-25 mainly by increasing the manufacturing capacity at its Baddi plant, in Himachal Pradesh, to 50,000 units per day investing INR 105 crore.
The company has acquired additional land in Baddi for the expansion. It is also planning to set up a new facility in Hosur, Tamil Nadu, investing INR 250 crore. Production is expected to begin in two years, Rajeev Kapur, MD, Steelbird Hi-Tech, told in a media interaction at the manufacturing facility in Baddi.
In the FY23-24, Steelbird sold over 8 million helmets, achieving a revenue of INR 711 crore. The company is targeting a revenue of over INR 900 crore for FY24-25 and aims to reach INR 1,300 crore by 2026-27.
Steelbird launched a new product, the Fighter helmet, on May 17, 2024 starting at INR 2999. It is also introducing 69 other helmet models this year. The Fighter helmet features high-impact thermoplastic material, dual DOT and BIS certification, dynamic airflow ventilation, high-density EPS, a replaceable and washable interior, a reflective neck area, anti-scratch visor, and a micrometric buckle. It also includes an inner sunshield.
The Fighter Helmet is available in various configurations with options including anti-fog shields and Bluetooth.
The new facility in Hosur is intended to cater to the aftermarket and meet the demands of various OEMs based in South India. The initial phase of the project involves an INR 100-crore investment, with production slated to begin in two years. This expansion is part of Steelbird's broader strategy to enhance production capabilities and broaden its product range to meet growing domestic and international demand.
The company remains dedicated to innovation, positioning itself to achieve its ambitious goals for the upcoming fiscal years.
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