IIFL Capital Services Ltd.
ICICI Securities Ltd.
Studds Accessories Limited is the largest two-wheeler helmet player in India by revenue and the world’s largest by volume. With nearly five decades of experience, the company designs and manufactures helmets under its flagship brand, Studds, and the premium, aspirational brand, SMK. The company benefits from strong brand recognition and a dominant domestic market share of 27.3% by volume in Fiscal 2024. Its strategic focus on safety, quality, and rigorous international certification underpins customer trust.
With a combined annualized capacity of 9.04 million units across its four integrated Faridabad facilities, the company is well-positioned to capitalize on the estimated 5.1% CAGR growth in the global helmet market, driven by safety regulations and rising incomes. Studds has a significant international footprint, exporting to over 70 countries and serving key global OEMs. Its in-house design team of 75 focuses on innovation. This combination of dominant market leadership, dual-brand strategy, robust manufacturing, and global reach makes Studds a key player in the two-wheeler safety and accessory space.
For the year/period ended (Rs. in Cr.)
| FY25 | FY24 | FY23 | |
|---|---|---|---|
| Total Revenue | 595.89 | 535.84 | 506.48 |
| Profit After Tax | 69.64 | 57.23 | 33.15 |
| EPS | 17.70 | 14.54 | 8.42 |
| EBITDA Margin (%) | 17.96 | 17.05 | 12.03 |
| PAT Margin (%) | 11.93 | 10.82 | 6.64 |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY25 |
Net Profits(Cr.) FY25 |
|---|---|---|---|---|---|---|
| Studds Accessories Ltd | 2302.17* | 585 | 5.12 | 28.43 | 595.89 | 69.64 |
(There are no listed peers of the company in India.)
*Market cap @upper band
The Company STUDDS ACCESSORIES LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
At the upper band of IPO ₹ 585, the stock is valued at 28.43 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.
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