Helmet manufacturer Steelbird Hi-Tech claims to be on track to achieve a net revenue target of Rs 1,000 crore this fiscal, FY25. “In Q1, we had achieved more than 20% of our revenue targets. With the festive season in line, we aim to achieve 30% of our targets,” Rajeev Kapur, MD, Steelbird, said, adding that it closed 10% of its profit before tax in FY24 and the same in FY25. The company posted a 1.5x rise in net profit to Rs 12 crore in FY23 from Rs 4 crore in FY22, as per regulatory filings accessed by business intelligence firm, Tofler. The company’s revenue from the sale of products increased 27% to Rs 164 crore in FY23 from Rs 129.1 crore, during the same period in the preceding year.
According to the company, it takes about two-three years to create a product in the helmet category. This year, it aims to launch about 20 new helmets, including variants. According to Kapur, helmets as a category are gradually moving towards a scene, where consumers have begun to invest in quality products. “The average MRP ranges between Rs 1,000-15,000,” he added.
Furthermore, the company which currently has four manufacturing plants operational in Himachal Pradesh and three in Noida, plans to start one large manufacturing plant in Baddi and another one – down South. The large plant in Baddi, Himachal Pradesh which will take two years to begin manufacturing will be able to produce 24,000 pieces of helmets every day while the factory in the South will manufacture 20,000 pieces every day. “Helmet as a category has the problem of fakes being made and sold. The investment to create one helmet starting from inception ranges between Rs 1-2 crore and managing fakes is indeed a challenge,” he noted. The company plans to roll out Ignite its high-end brand.
The company further claimed that it is targeting Rs 100 crore in revenue from the export market in the next two years. As per Kapur, this is five times the current revenue earned by the company from exports. Moreover, it at present has 250 company-owned retail outlets and plans to add another 750 by FY26, to take the total count of stores to 1,000. As far as marketing is concerned Kapur added that the company spends five percent of its revenue, with a greater focus on digital.