Steelbird Hi-Tech India on Friday said it plans to invest Rs 105 crore to enhance production capacity at existing plants as ait aims to roll out 1 crore helmets in the current fiscal.
The company will utilise the capital for capacity expansion in its plants based in Baddi (Himachal Pradesh) and Noida (Uttar Pradesh).
"Our aspiration to produce 10 million helmets signifies our unwavering commitment to riders globally. With ECE-certified helmets, we're not only upholding stringent safety standards but also advancing towards global dominance," Steelbird Hi-Tech India Managing Director Rajeev Kapur said in a statement.
The company has allocated a capex of Rs 105 crore to fuel the ongoing expansions to expand manufacturing capacities in existing plants, he said.
Kapur noted that Steelbird is looking to capture a significant share of the European and American helmet markets, besides consolidating its position in the domestic market.
With the helmet industry projected to witness remarkable growth of over 13 per cent this fiscal, driven by escalating two-wheeler demand and evolving regulations, the company is poised for a robust growth, he added.