Monday, July 15, 2024

Steelbird Hi-Tech anticipates 30% revenue growth this year due to increased domestic demand | Company News

Steelbird Hi-Tech to Launch 36 New Helmet Models for Premium Segment

Steelbird Hi-Tech, the world’s largest helmet maker, is set to make a big splash in the premium segment with the launch of 36 new helmet models at the upcoming Motor Show (EICMA) in Milan. The company’s Managing Director, Rajeev Kapur, revealed this exciting news, along with plans to introduce a super high-end model.

The decision to introduce these new models comes as Steelbird Hi-Tech anticipates over 30% revenue growth this fiscal year, driven by the surging demand for branded helmets in the domestic market. Kapur emphasized the potential impact of mandatory helmet usage regulations, indicating a shift towards branded helmets over fake alternatives. With only 30% of riders and 10% of pillion riders currently wearing helmets, the market potential for growth is significant.

In the past fiscal year, Steelbird Hi-Tech sold eight million helmets, with expectations to sell 10 million in the current fiscal year and 15 million by March 2026. The company reported a revenue growth of 27% last year and aims to exceed 30% growth, targeting a revenue of Rs 1,000 crore this year.

To accommodate this growth, Steelbird Hi-Tech has announced a Rs 105 crore investment in its Baddi plant to increase production capacity and establish a new manufacturing facility in South India. The company currently operates five manufacturing facilities, with plans for further expansion to meet market demand.

Kapur highlighted the company’s focus on the domestic market and projected a revenue target of Rs 100 crore from exports in the next two years. With upcoming plant expansions and increased production capacity, Steelbird Hi-Tech is gearing up for substantial growth in the helmet market.

As Steelbird Hi-Tech gears up for expansion and innovation, the launch of 36 new helmet models and the introduction of a super high-end model at the Motor Show in Milan signal the company’s commitment to staying at the forefront of the industry. With plans for network expansions and new product developments, Steelbird Hi-Tech is poised for continued success and growth in the premium helmet segment.

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