Studds Accessories Limited, founded in 1972, started its journey by manufacturing helmets in a small garage. Over the decades, it has grown into the world’s largest two-wheeler helmet manufacturer, producing more than 7.5 million helmets and motorcycle luggage annually as of FY 2025.
The company holds the unique distinction of being the only Indian helmet manufacturer with a European Safety Agency-certified lab, underscoring its commitment to global safety standards.
Headquarters: Faridabad, India
Manufacturing Facilities: 4 state-of-the-art plants
Product Portfolio: 50+ products across 4 key verticals:
Helmets
Motorcycle Accessories
Face Shields & Masks
Bicycle Helmets
Domestic Market Share: 27.4% in India
Global Footprint: Exports to 70+ countries worldwide
With a legacy of over 52 years in safety gear manufacturing, Studds benefits from a robust dealer network and advanced R&D capabilities.
📈 Studds reported a 10% increase in revenue and a 23% rise in net profit (PAT) in FY25 compared to FY24. This growth reflects not only strong demand for helmets and accessories but also better cost management, which led to margin expansion (EBITDA margin improved from 18% to 20%). EPS also rose to ₹17.7 from ₹14.54, showing stronger value creation for shareholders.
The ratios indicate healthy liquidity (Current Ratio 2.55), negligible debt (D/E 0.01), and steady improvement in margins. Both ROE and ROCE strengthened, reflecting higher profitability and efficient capital usage. These trends highlight Studds’ strong financial resilience and ability to sustain growth with minimal leverage.
While operating cash flows fell slightly due to higher working capital requirements, the company increased its investment spending significantly (₹49 Cr vs ₹18 Cr), indicating capacity expansion and R&D initiatives. Financing outflows reduced, suggesting lower debt repayments compared to last year. Overall, Studds maintained a positive net cash flow.
Studds Accessories Limited showcases a strong growth trajectory, backed by:
Leadership position in the helmet industry (domestic & global)
Rising exports contributing to diversification
Expanding margins and efficient capital structure
Strong dealer network and brand recognition
With improved profitability, low leverage, and consistent demand for two-wheeler safety gear, Studds unlisted shares present an attractive investment opportunity for long-term investors.
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