Studds Accessories Limited

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STUDDS Accessories Limited

STUDDS Accessories Ltd was incorporated in 1983. It is the largest manufacturer of two-wheeler helmets in terms of volume in 2018. The company has its presence in 39 countries across the world.

STUDDS Accessories Limited is the world’s largest manufacturer of two-wheeler helmets. It is catering to the diverse needs of its customers through two flagship brands i.e. STUDDS and SMK HELMETS. It is the only company (in India) to be certified by the European Safety Agency.

The company has also diversified its offering into two-wheeler lifestyle accessories such as two-wheeler luggage, gloves, helmet security guards, rain suits as well as eyewear. It has a market share of more than 25% in India.

About the Company

  • The story began in 1973, the Company has come a long way, from manufacturing the first helmet in a garage to manufacturing 7 million helmets every year.
  • The Company offers a wide range of two-wheeler helmets and accessories and possesses state-of-the-art manufacturing facilities, equipped to deliver over 13.2 million helmets every year.
  • Backed by a rich legacy, a strong product portfolio and a robust dealer network, the Company has more than 26% market share in India.
  • The Company’s laboratory is the only one in the industry (in India) to be certified by European Safety Agency, and Safety – The Company uses one of the best technologies in the world to produce certified products.
  • STUDDS Accessories Limited is the leading manufacturer of helmets and motorcycle accessories in India and all over the world.
  • STUDDS was incorporated in 1983 with its registered office in Haryana. Headquartered in Faridabad, the Company has 4 state-of-the-art facilities manufacturing an extensive array of over 50 products. STUDDS has a presence in more than 40 countries across the globe including Europe, Asia, Latin America and the Middle East.

Business Verticals

The Company has 4 business verticals

  • Helmets
  • Motorcycle Accessories
  • Face Shields and Face Masks
  • Bicycle Helmets.

Industry Opportunities

  • India is one of the largest manufacturers of two-wheeler helmets in the world. The country has a total manufacturing capacity of 35 million for two-wheeler helmets. In the last 5 years, the two-wheeler helmet industry has grown by a CAGR of 10%.
  • The helmet industry is expected to grow at a CAGR of 17% by 2022.
  • The global Motorcycle Helmets market is valued at the US $1670 million in 2017 and is expected to reach US $1730 million by the end of 2025, growing at a CAGR of 0.5% between 2018 and 2025.
  • India ride gear market (Jackets, Helmets, Gloves, Knee Guards, Shoes, others) is projected to grow at a CAGR of more than 12% by 2023.
  • The global Motorcycle accessories market is estimated to be valued at US$ 7,160.8 million by the 2018 end and is expected to reach US$ 11,024.7 million by the end of 2026 while expanding at a CAGR of 5.5% over the forecast period.
  • The global Motorcycle accessories market is anticipated to represent an incremental opportunity of US$ 3,863.9 million between 2018 and 2026.

Financial Performance


  • The Company clocked a revenue of INR 4,369.46 million, thereby witnessing a growth of approx. 10% in the FY19-20, over the previous years’ revenue.


  • The Profit After Tax for FY19-20 was INR 745.92 million registering an increase of 81.08% over INR 404.86 million recorded during the previous year.

Earning Per Share

  • The Earning Per Share of the Company has increased exceptionally by 216.01% as compared to the EPS registered in FY16-17.


  • The Company performed well and the top line grew by 10.85% in the FY19-20. Besides, growth in the top line, the operating EBIDTA grew at 41.16% and the PAT grew by 81.05% from the preceding year.
  • The Company has made significant investments to develop a world-class R&D facility, backward integration by manufacturing EPSL in the plant, with an endeavour to improve the quality of the products and meet stringent safety standards.
  • The Company stepped up efforts to improve relations with its dealers and distributors and it helped to significantly increase its market share. As of 31st March 2020, the network of 385 dealers is spread across the globe and 7 EBO’s (exclusive brand outlet) in India.
  • The Company has sold 66.5 Lakhs (Domestic + Global) and has a domestic market share in Two Wheelers helmets of 25.66%.
  • The Company declared an interim dividend of INR 4 per equity share of the face value of INR 5 each to the shareholders.
  • The Company issued bonus shares in the ratio of 8 equity shares for every 1 equity share held (1:8).

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