Vega to become a leading producer of helmets in the world when its new plant in Belgaum starts operations by 2020.
The Belgaum based Vega Auto is one of the major helmet manufacturers in the country with a market share of 50 percent in South India and an overall share of 35 percent in the organised helmet industry in India.
The company currently has 3 production facilities, 2 in Uttarakhand and 1 in Belgaum. The 3 helmet manufacturing plants churn out a total of 12,000 helmets per day. The company is working on one more plant at Belgaum which is expected to go functional by 2020. The new plant will see an investment of Rs. 100 crores and will take the production to 20,000-22,000 helmets per day, making Vega the world’s largest helmet manufacturer.
Currently, out of the total production, 40 percent helmets are exported to the USA, Europe and Asian countries. The share of export is expected to go up when the new plant becomes operational. The total helmet market in the country is worth around Rs. 1000 crores but the majority share is of the unorganised sector.
Vega is expecting a 65 percent jump in its turnover in the current fiscal to Rs. 300 crores, despite the hike in rates of taxes for helmets under GST.
World’s Largest Helmet Manufacturer
– Vega is one of the major helmet manufacturers in India
– The company is working on a new plant in Belgaum which is expected to start operations by 2020
– The new plant will take the production to 20,000-22,000 helmets per day
