Steelbird targets 3-fold revenue growth by 2030; to expand production

Himachal Pradesh-based Steelbird Helmets is investing over ₹350 crore to more than double its production capacities by 2032 to meet demand. The company is also targeting trebling its turnover to ₹2,500 crore by 2030.

 

Steelbird now manufactures 10 million units at its Baddi facility, which it aims to take up to 25 million by 2032, besides adding another facility in the state in the next four years.

 

A leading player in the segment, the company aims to target a 40 per cent share in the organised helmet market in the country from the current 35 per cent by the end of this year, a top company official said.

 

It manufactured 8 million helmets last year. Therefore, the size of the market is around 24-25 million units annually.

 

Steelbird is currently investing over ₹50 crore in its Baddi plant in Himachal Pradesh to quickly increase production capacity by 50 per cent at the site after it witnessed a rise in demand for its high-end products.

 

The capacity of the site will increase to 15 million helmets a year by the end of next financial year, up from the current 10 million units. This would be further scaled up to 25 mn helmets by 2032.

 

Additionally, Steelbird is setting up a new 22-acre facility in Himachal Pradesh, requiring an investment of over ₹200 crore that will add 10-11 million helmets per year over the next three to four years.

 

The company is also expanding the manufacturing capacity in its existing plants with an investment of ₹105 crore. Steelbird operates eight manufacturing units — four in Baddi (Himachal Pradesh) and four in Noida (Uttar Pradesh)—with a combined production capacity of 30,000 helmets per day. In the short to medium-term, the company aims to increase this to 50,000 helmets per day by the next financial year.

 

"We are on track to achieve revenue of ₹800 crore this year," Rajeev Kapur, managing director, Steelbird Helmets said.

 

“We are witnessing tremendous growth in demand, particularly for high-end helmets, and have prioritised expansion in our Baddi plants,” said Kapur.

 

Along with manufacturing expansion, Steelbird is also focused on increasing its retail footprint. The company plans to scale up its stores from the current 250 outlets to 1,000 outlets across India within the next two years.

 

The organised helmet industry in India is projected to grow at a compound annual growth rate (CAGR) of 13.2 per cent, driven by increasing two-wheeler sales and stricter enforcement of helmet usage laws. Despite this growth, a major challenge remains the prevalence of counterfeit helmets in the market. 

 

“The government must mandate helmets for both riders and pillion riders across all states. Currently, only eight states and metro cities have regulations in place,” Kapur added.

 

At present, counterfeit helmets constitute 95 per cent of the market.