Steelbird Hi-Tech India announced that it expects to invest Rs 105 crore to increase production capacity at existing sites in order to meet its goal of producing 1 crore helmets in the current fiscal year.

The funds will be used to expand capacity at the company's plants 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.