Steelbird Hi-Tech India, one of the major helmet manufacturers in India has announced its plans to boost the manufacturing capacity of its plant in Baddi in Himachal Pradesh with an investment of about Rs 150 crore. It expects to produce around 44,500 helmets per day, employing 2,000 new employees and selling more than 11 lakh units from December.
The company claims that the implementation of the New Motor Vehicle Act has helped it clock its all-time high sales of 6 lakh units in September, thus enabling it to grow with a CAGR of 22 percent. The company is hoping to cross Rs 1,000 crore turnover from helmet business by 2020-21.
Rajeev Kapur, MD, Steelbird Hi-Tech India said, “The time is extremely favourable as the industry has a lot of support from the government. The policymakers are doing their best to ensure the road safety of the citizens. 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. The company’s future growth strategy entails ramping up capacities to expanding the geographical reach and new offerings.”
Through the Rs 150 crore investment, Steelbird plans to equip the Baddi plant with the sector’s latest technologies and expand its product portfolio to cover the entire spectrum of customers from low to premium.