Steelbird Hi-Tech reports Rs 687 crore revenue in CY2023

The company produced 80 lakh helmets in CY2023.

Autocar Pro News Desk By Autocar Pro News Desk calendar 09 Feb 2024 Views icon4264 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Steelbird Hi-Tech reports Rs 687 crore revenue in CY2023

Steelbird Hi-Tech, a leading player in helmet manufacturing, reported revenues of  Rs 687 crore during the calendar year 2023. 

The company shared that it had produced 80 lakh helmets in CY2023 and remains hopeful of reaching 10 million units in CY2024. In addition to the helmet sales, Steelbird Helmet sold 3,44,865 side boxes, contributing to a total of 81,44,138 units sold worldwide.

Rajeev Kapur, the Managing Director of Steelbird Hi-Tech, said, "Many states and districts in our country lack proper traffic police, and numerous accidents go unreported. If we check the data with insurance companies, the numbers are much more staggering. Therefore, it is our duty to address this issue urgently, leaving no stone unturned," said Kapur.

To further promote helmet usage, the Two-Wheeler Helmet Manufacturers Association  (2W HMA), a lobby body, has been advocating for a reduction in the GST rate on helmets from the current 18% to 5%. This would make branded, quality helmets more affordable and accessible to the masses, potentially saving lives and reducing the economic impact of road accidents."The benefits that will accrue to the nation will be immense in comparison to the minuscule loss of revenues by way of the reduction of GST on two-wheeler helmets," asserted Kapur earlier.

RELATED ARTICLES
ACMA concludes 'Transforming Mobility 2024- Global Summit and Expo'

auther Autocar Pro News Desk calendar28 Feb 2024

The event served as a platform for more than 50 EV component manufacturers across various vehicle segments. 

Cooper Corporation expands manufacturing operations in Satara

auther Autocar Pro News Desk calendar28 Feb 2024

The company inaugurated two state-of-the-art unit and aims to employ over 250 skilled personnel.

Vitesco Technologies showcases innovative solutions at ACMA Global Summit for EVs

auther Autocar Pro News Desk calendar28 Feb 2024

The ACMA EV Expo 2024 featured over 100 EV component manufacturers catering to all vehicle segments.