Steelbird Hi-Tech preps 20 new helmets for India, aims to expand export base

Steelbird Hi-Tech wants to build on its dominant market share in the Indian two wheeler helmet market, with a lineup of as many as 20 helmets set for launch this year. In an interview with HT Auto, Rajiv Kapur, Managing Director explained that the focus is to have products catering to every price point and riding style.

Steelbird will launch 20 new helmets with 70 variants, releasing a new option roughly every five days. These helmets will span the entire spectrum, from entry-level options for budget-conscious riders to premium helmets. Kapur says that regardless of price, safety will remains paramount for Steelbird. He assures that all helmets will meet the mandatory Indian safety standards.

Besides, Steelbird's premium brand, Ignyte, will also see a major expansion with the introduction of 36 new models at the upcoming EICMA 2024 motorcycle show. These high-end helmets will be crafted from carbon fiber and comply with international safety certifications like DOT (Department of Transportation) and ECE (Economic Commission for Europe), in addition to the Indian ISI standard. This strategic move positions Steelbird to capture a significant share of the export market alongside expanding their domestic presence.

Immense opportunities ahead

Exports are a key focus, but Kapur sees immense domestic growth potential as well. Citing World Health Organization (WHO) reports, he highlights that only 30 per cent of Indian riders and a mere 10 per cent of pillion riders wear helmets.

With the government prioritising safety, Kapur anticipates a rise in helmet demand due to potential mandatory helmet usage regulations. However, in his dual role as President of the ISI Helmet Manufacturer Association and Co-Chairman of ASSOCHAM National Council, he urged the government to take a phased approach for mandating these safety gears.

He suggests starting in metro cities with heavier traffic, allowing domestic manufacturing capacity to keep pace with the anticipated surge in demand for helmets.

Expanding capacity

Steelbird Hi-Tech is aiming high for FY24-25, setting a target of selling 10 million helmets. To meet this ambitious goal, they're ramping up production capacity at their existing facilities in Baddi, Himachal Pradesh. This includes acquiring additional land and allocating a capital expenditure (capex) of ₹105 crore. These efforts are expected to increase daily production by 45,000 to 50,000 units.

Further bolstering their growth strategy, Steelbird is considering establishing a state-of-the-art manufacturing facility in southern India, potentially in Hosur. Coming off a successful FY23-24 with sales exceeding 8 million helmets and a revenue of ₹711 crore, Steelbird has set its sights on even greater achievements. They're targeting a revenue of over ₹900 crore for FY24-25 and a staggering ₹1,300 crore by 2026-27.

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