STUDDS starts 1.5 million-unit plant, maps 12.5 million capacity

STUDDS operationalised Phase I of Manufacturing Facility V on 30 October 2026, adding 1.5 million units of two-wheeler helmet and box capacity. The company’s disclosed plan would raise capacity from 9.5 million units in FY26 to 12.5 million units after a further 1.5 million-unit Phase II addition planned over 18 to 24 months.

What capacity expansion has STUDDS started?

STUDDS has operationalised Phase I of Manufacturing Facility V, with planned capacity of 1.5 million units for two-wheeler helmets and boxes, on 30 October 2026. The presentation describes the project as the first stage of an expansion programme intended to build manufacturing headroom for domestic and global growth.

The Phase I addition takes the capacity path stated on the FY26 basis from 9.5 million units to 11.0 million units. STUDDS does not disclose the project’s investment cost, expected utilisation, production ramp or revenue contribution, so the presentation establishes capacity additions rather than the financial outcome of the new facility.

When is STUDDS planning the second phase?

STUDDS plans to add another 1.5 million units in Phase II over the 18 to 24 months following the 30 October 2026 Phase I operationalisation. If completed as planned, the second phase would lift the stated capacity level from 11.0 million units to 12.5 million units.

The two stages would together add 3.0 million units, which STUDDS presents as an approximately 33% increase over its FY26 capacity of 9.5 million units. Phase II remains a plan rather than an operational facility, and the source gives no specific commissioning date within the stated 18-to-24-month period.

STUDDS identifies Facility V as the route to expand installed capacity from about 9.5 million units to 12.5 million units in its road-ahead presentation. That presentation also states a medium-term revenue ambition of more than Rs 1,000 crore, but it does not allocate that target between Facility V, existing facilities, premium products or exports.

What does current helmet and box utilisation show?

STUDDS reported sales of 3.99 million units against installed capacity of 4.79 million units for two-wheeler, or 2W, helmets and boxes in H1FY27, with utilisation of about 83%. The figures cover Manufacturing Facilities I, II and III and are presented as of 30 September 2026, before Facility V was operationalised.

In H1FY26, the same three facilities had installed capacity of 4.52 million units, sales of 3.89 million units and utilisation of about 86%. Installed capacity therefore increased by 0.27 million units and sales rose by 0.10 million units year on year, while reported utilisation fell by about three percentage points.

The stated FY26 capacity figure of 9.5 million units is the expansion baseline shown on the capacity page, while the H1FY27 footprint page reports 4.79 million installed units for Facilities I to III. STUDDS does not explain the relationship between these separately presented capacity measures, so they should not be treated as directly comparable without further disclosure.

Which products and markets is Facility V intended to support?

STUDDS says the additional capacity is intended to support four growth drivers: premium products, export expansion, product innovation and wider distribution reach. Its premium portfolio plan cites a rising mix of premium helmets with improved design, styling and safety features, while the export plan seeks higher realisation in global markets and a broader international distribution footprint.

The company reports more than 240 designs and more than 19,000 stock-keeping units, or SKUs, and says over 75 members work in research and development, design, aerodynamics and electronics laboratories in Faridabad, Haryana. These teams focus on product innovation, comfort enhancement and advanced technology integration, alongside the planned 1.5 million-unit Phase I helmet-and-box capacity.

STUDDS also lists riding jackets and Bluetooth communication systems as adjacent rider-safety categories within its product-innovation programme. Its longer-term vision includes riding gear, Bluetooth products, bicycle helmets and smart-safety platforms, although the presentation specifies Facility V Phase I capacity only for two-wheeler helmets and boxes.

How does Facility V fit into STUDDS’ manufacturing network?

STUDDS presents Facility V as an addition to Facilities I, II and III, which together reported 4.79 million units of installed 2W helmet-and-box capacity in H1FY27. Facility IV is a captive operation producing expanded polystyrene, or EPS, liners and water-transfer decals rather than finished helmets and boxes.

Facility IV had EPS liner capacity of 4.5 million units in both H1FY27 and H1FY26, while sales rose to 3.90 million units from 3.76 million units and reported utilisation increased to about 87% from about 84%. Water-transfer decal capacity stayed at 1.0 million units, with sales increasing to 0.65 million units from 0.57 million units and utilisation rising to about 65% from about 57%.

STUDDS says its manufacturing network includes supply-chain and procurement teams focused on raw-material stability, as well as personnel in moulding, painting, stitching, assembly and testing. The company also cites compliance with ECE 22.06 and IS 4151 standards, but does not disclose Facility V staffing, its component sourcing arrangement or its production configuration beyond the 1.5 million-unit helmet-and-box capacity.

Conclusion

STUDDS has moved its capacity programme into execution with the 30 October 2026 operationalisation of a 1.5 million-unit Facility V Phase I. The disclosed route is a rise from 9.5 million units in FY26 to 11.0 million units after Phase I and 12.5 million units after Phase II, alongside H1FY27 2W helmet-and-box sales of 3.99 million units.

The next disclosed milestone is Phase II, which STUDDS plans to deliver over 18 to 24 months and which would add the remaining 1.5 million units. Management’s medium-term ambition of more than Rs 1,000 crore of revenue is linked to capacity, premiumisation, exports and adjacent product categories, while Facility V’s cost, utilisation ramp and revenue contribution remain undisclosed.