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.