Studds Accessories Limited IPO
Studds Accessories Limited is India’s largest two-wheeler helmet manufacturer by revenue in Fiscal 2024 and the world’s largest by volume in Calendar Year 2024. With nearly five decades of industry expertise, the Company has built a strong leadership position in the global protective riding gear market. Its brands, Studds and SMK, cater to a wide customer base across price points and design needs, positioning the Company as a dominant player in both mass and premium segments.
Product Portfolio & Brand Presence
Studds designs, manufactures, markets, and sells:
1. Two-wheeler helmets (full face, flip-up, modular, open face)
2. Riding accessories including luggage, gloves, riding jackets, eyewear, rain suits, and helmet locks
The Company’s products are distributed pan-India and exported to over 70 countries across the Americas, Europe, Asia, and other regions.
It also manufactures helmets for leading international brands such as Daytona (USA) and O’Neal (EU, USA & Australia), demonstrating strong global OEM capabilities.
The premium brand SMK, launched in 2016, continues to gain strong traction in both Indian and international markets.
Scale & Manufacturing Capabilities
Studds operates four advanced facilities in Faridabad with automated coating, in-house mold making, stitching, painting, and a VCA-certified testing lab. Facility IV manufactures EPS liners and decals, supporting backward integration.
As of March 31, 2025, annualized capacity stands at 9.04 million units with 7.40 million helmets sold in FY25. A fifth facility is under construction, expected to be operational in FY26.
Distribution is supported by 3PL partners in Faridabad, Bangalore, and the United States.
Innovation, Technology & Design
A 75-member R&D team focuses on advanced safety designs and smart-technology helmets with Bluetooth, rear-view cameras, wear-detection and navigation features.
Collaboration with leading European and Spanish design firms enhances product innovation.
Automation measures like robotic cutting and painting aim to improve efficiency and consistency.
Distribution Network & Market Access
Studds follows a multi-channel model with 363 distributors in India, exports to 70+ countries, supply partnerships with major OEMs (Hero, Royal Enfield, Honda, Suzuki, Yamaha) and institutional buyers (CPC, CSD).
Products are also sold through EBOs, e-commerce, quick-commerce and the company website, ensuring strong market penetration.
Strong Industry Outlook
The global helmet market is projected to grow at ~5.10% CAGR (2024–2029) driven by rising urbanization, disposable income, safety awareness and regulatory mandates.
With its scale, brand strength and innovation focus, Studds is well-positioned to capitalize on this growth.
Objects of the Studds Accessories Limited IPO:
Studds Accessories Limited IPO Details:
| Open Date: | Oct 30 2025 |
| Close Date: | Dec 03 2025 |
| Total Shares: | 77,86,120 |
| Face Value: | ₹ 5 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 455.49 Cr. |
| Lot Size: | 25 Shares |
| Issue Price: | ₹ 557 - 585 Per Equity Share |
| Listing At: | NSE,BSE |
| Listing Date: | Nov 07 2025 |
Promoters And Management:
Financials of Studds Accessories Limited IPO:
| Particulars | 3M FY 2026 | FY 2025 | FY 2024 | FY 2023 |
| Revenue from Operations (Cr) | 149 | 584 | 529 | 499 |
| Total Income (Cr) | 152 | 596 | 536 | 506 |
| Revenue Growth (Y-o-Y) | N.A. | 10.36 | 5.98 | 7.93 |
| EBITDA (Cr) | 30 | 105 | 90 | 60 |
| EBITDA Margin (%) | 20.3 | 18.0 | 17.1 | 12.0 |
| PAT (Cr) | 20 | 70 | 57 | 33 |
| PAT Margin (%) | 13.6 | 11.9 | 10.8 | 6.6 |
| RoNW (%) | 4.31 | 15.49 | 14.77 | 9.81 |
| RoCE (%) | 5.65 | 20.25 | 18.98 | 12.81 |
| Net Debt/ Equity (times) | -0.1 | -0.07 | -0.07 | 0.02 |
| Operating Cash Flow (Cr) | 24 | 63 | 72 | 56 |
Comparison With Peers:
According to its RHP Their is no listed peers existed in the same business segment.
Lead Manager of Studds Accessories Limited IPO:
Registrar of Studds Accessories Limited IPO:
Discussion on Studds Accessories Limited IPO:
Leave a Reply
You must be logged in to post a comment.