Steelbird Hi-tech India, a leading helmet manufacturer, is planning to invest more than Rs 250 crore in establishing a new manufacturing facility in Hosur, Tamil Nadu. The company aims to meet the increasing demand for helmets and enhance its production capacity. According to Rajeev Kapur, the Managing Director of Steelbird, the new plant in Hosur is projected to produce over 20,000 units within two years. The facility will primarily serve the aftermarket and fulfil demands from various Original Equipment Manufacturers (OEMs) in South India.

Kapur stated that the initial investment for the project is set at Rs 100 crore, with a total capital expenditure of approximately Rs 250 crore spread over two years. Steelbird is also expanding its production capacity at existing plants in Baddi, Himachal Pradesh, with a dedicated investment of Rs 105 crore. This expansion effort will enable the company to increase its daily production from 20,000 to 50,000 helmet units.

The expansion initiatives are already underway, and Steelbird aims to manufacture 10 million helmet units in the current fiscal year. By the end of the following year, the company plans to further boost its overall production to 15 million helmets annually. Kapur emphasised that the demand for helmets in the domestic market is expected to rise significantly due to government regulations mandating helmet usage in the country.

Steelbird's MD also revealed the company's plans to diversify into growing segments such as baby care products and toys. In the current fiscal year, Steelbird aims to achieve a revenue of over Rs 600 crore, compared to around Rs 554 crore in the previous fiscal year.

Source: Business Standard