Helmet maker Steelbird Hi-Tech India has said the premium segment is expected to account for 20% in the company's overall topline by 2032 as it sees demand growing for its niche brands.
In the last fiscal year, the company clocked a revenue of Rs 869 crore, with the premium segment contributing less than 5%, said SteelBird Hi-Tech Managing Director Rajiv Kapoor.
He also said the company is aiming to double its helmet production capacity to 2.5 crore in the next five years, along with a topline of Rs 2,500 crore, besides plans to invest Rs 500 crore in the capacity expansion over this period.
Steelbird Hi-Tech has seven manufacturing facilities in Himachal Pradesh besides three in Noida (Uttar Pradesh) and an R&D facility besides an office in Italy.
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It serves the helmet market under various brands and across segments, including premium range.
"Premium segment (currently) is not so big. It will not be even 5% of the total market. But it is growing and I think in the next few years (by 2032) premium helmet market share will be approximately 20 per cent," Kapoor said.
He said the company already has a premium brand ignite, which is its most premium helmet, and these helmets start from Rs 3,000 onwards.
"We are also planning to launch a carbon fibre helmet, produced with EPP technology (extended polypropylene) under the Ignyte brand, priced at Rs 15,000," he said.
The company also plans to launch air light helmets, which are the lightest helmets in the world, he said, adding that "this is all coming in the Ignite brand. So, Igyte brand will be competing with the top brands of the world".
Earlier this year, Steelbird announced that it is increasing its daily production capacity to 60,000 helmets to cater to the rising demand, and this production boost comes on the back of ongoing automation, process optimisation, and capacity enhancement initiatives across its manufacturing facilities.
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