Established in 1983, Studds today is the largest and one of the leading manufacturers of helmets in the world. Studds has a presence in more than 50 countries throughout the world and offers a wide range of two-wheeler helmets and accessories.

Studds has four backward integrated state-of-art manufacturing facilities that develop helmets and motorcycle accessories that cater to the needs of the consumers. These facilities have the capacity of manufacturing over 14 million helmets every year.

Over 5.9 million helmets sold in FY22 with market share of 25.66% in India & on average total domestic & foreign sales account for 79.55% and 20.45% respectively. The Company has one wholly owned subsidiary company SMK Europe Unipessoal LD which was incorporated on July 30, 2019.

As the helmet business is directly proportional & driven by the sales figure of two– Wheeler market & it is projected to reach 60.7 million units in 2027. Apart from that government reforming its policies and taking road safety measures seriously by mandating helmets for both the riders which will be ultimately enhancing the sale of helmets.

With the number of road accidents on the rise, governments around the world are placing stringent rules on the use of helmets. Wearing of helmets certified by Indian Standards Institution (ISI) have been compulsory in India. In addition, electric two-wheelers in India have received a massive push in FY 2021-22, with a growth of 460% over FY 2020-21. With the advent of EVs, having top speed of more than 25km/hr wearing of helmet has been made compulsory for the riders.

These products are developed keeping in mind the aesthetic demands of the customers, new trends in the market and the safety regulations along with safety of helmets with a good design that increases their market reach

Financial Figures (In INR CRORES)

DESCRIPTION Mar-22 Mar-21 Mar-20 Mar-18 Mar-17
Gross Sales 475.62 496.13 431.24 336.44 309.13
PBT 40.02 98.3 95.45 51.12 36.86
PAT 28.64 73.99 74.56 32.47 23.75
Cash Flow from Operations 11.53 73.94 62.20 42.63 23.05
Cash Flow from Investing -39.88 -34.48 -24.44 -31.94 -20.99
Cash Flow from Financing 3.22 -17.32 -25.86 -3.63 -0.27
Debt to Equity 0.14 0.10 0.18 0.01 0.03
Current Ratio 1.37 1.40 1.25 1.37 1.45
EPS 14.55 37.61 37.88 20.92 16.71

Face Value of the share is INR 5 per share.

Schedule a meeting with the Private Equity Experts to understand more about Unlisted Shares & Stock Investments

Schedule Now


Net Worth stood at Rs. 3108.07 million in FY 2021-22 as compared to Rs. 2898.90 million for FY 2020-21. The number of manufacturing facilities is 4. Over the years, Studds distinguished itself for their well-known and excellent product lines in the industry and has been awarded many prestigious awards, certifications and accolades. The Board recommends a dividend of Rs. 3/- per equity share (60% of face value of Rs. 5/- per share) for the year ended March 31, 2022 amounting to Rs. 59.03 million. Foreign Exchange earned: Rs. 1,066.23 million Foreign Exchange outgo: Rs. 319.01 million

Rating agency (Care Rating) has given A+ for long term & A1+ for short term.

    For energy conservation, Studds has taken following measures

  1. Energy efficient centralized HVAC system for corporate office.
  2. Introduced laser based Automatic PP tape cutting machine with servo-controlled system, for product quality enhancement and reduction in manpower.
  3. Robotic PC sheet cutting system for Bicycle Helmet for enhancement of product quality.
  4. Introduced Robotic Plasma technology in Decal application for purpose of technology enhancement.

Product Lines-

  1. Helmets
  2. Motorcycle Accessories
  3. Bicycle Helmets
  4. & Personal Protective Equipment.

Enterprises over which Key Management Personnel and their relatives are able to exercise significant influence are Studds Foundation, Bikerz INC (formerly known as Studds Canada) & Bikerz US INC.

Key Managerial Personnel

Mr. Madhu Bhushan Khurana – Chairman

Mr. Sidhartha Bhushan Khurana – Managing Director

Mr. Manish Mehta – Chief Financial Officer

Mr. Hitesh Wadhera – Company Secretary

For any queries, reach out to: unlisted@rurashfin.com or Call: +91 224157 1111