Skip to main content

Studds Commissions 2 New Facilities In Haryana; Invests Rs 200 Crore In Plants


Leading helmet manufacturing company Studds Accessories on Monday said it has commissioned two new facilities at Faridabad in Haryana entailing total investment of Rs 200 crore. Spread across an area of over 5.5 acres, the company has made an initial investment of over Rs 160 crore to set up the largest helmet manufacturing facility in Asia, Studds Accessories said in a statement. Besides motorcycle helmets, including the Shifter and Thunder series, the facility will also produce bicycle helmets for domestic market, it added. The company said it has also commenced operations at another production unit which has in-house production line for expanded polystyrene (EPS), which is the most important safety feature in a helmet. Spread across 1.5 acres, the company has invested Rs 40 crore in the second plant, marking a total investment of over Rs 200 crore in the manufacturing plants, Studds said. "With the goal of expanding our production efficiency, our new plants would provide employment prospects for local citizens as well as add to the overall economic growth," Studds Accessories Ltd Managing Director Sidhartha Bhushan Khurana said. The new plants will have production capacity of 75 lakh units of motorcycle helmets and 15 lakh bicycle helmets per annum, he added. The facilities will ensure direct employment for over 1,500 individuals, Khurana said. "Currently, we have just begun operations and are planning to ramp up production gradually. With the commencement of our new plants, we have doubled our production capacity from 7 million to 14 million units of motorcycle helmets," he noted. With these new manufacturing units, Studds now has four manufacturing factories in the country, all of them located in Faridabad, Haryana. The company is currently exporting its helmets to more than 40 countries and the new plant is aimed at ramping up the exports. Studds also plans to introduce a new range of exciting helmets in this financial year, it said. PTI MSS MR


Sandip Ginodia , CEO

 

ALTIUS INVESTECH PVT LTD

 

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com



Labels:

Comments

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated th...
Post a Comment
Read more

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in ...
Post a Comment
Read more

Times Internet posts 24% revenue jump to Rs 1,625 Cr in FY20

  Times Internet has posted a 24% jump in its annual revenue in the financial year ending March, recording Rs 1,625 crore in revenue in FY20. In its annual report, the company  said the revenue growth has been adjusted for seasonality of cricket events. In FY19, it had posted revenues of $196 million. The company has registered a surge across its revenue streams i.e. advertising revenue, subscribers, transaction revenue and gross merchandise value (GMV) in the last fiscal year. While advertising revenue grew 22% with faster growth in music and video, overall subscribers to Times Prime grew 62%.  Times Internet’s annualized GMV in transacting businesses grew 68% with a 75% jump in net revenues, said the company in its annual report. Its subscription and transactional businesses include Times Prime, Gaana Plus, TOI+, ET Prime, and Gourmet Passport.  Times Prime also crossed 2 million subscribers last year. “We broadened our media strategy beyond news, and we focused on...
Post a Comment
Read more