| Cycle Unit | Manufacture and sale of bicycles including electric bikes and fitness equipment. | Backward integration in steel production, product innovation, long market presence, and diverse portfolio. | B2C and B2B distributors across India and select export markets. | Electric bikes and premium bicycle models with specialized features. | 708 | 89 | Sales to retail and wholesale customers. | Direct sales with market competitive pricing. | New model development, paint plant enhancements, electric bike introduction, rising market demand. | Tango, Laser, Velocity, Centre-Shock, Chunmun, Simba, Explorer |
| Tube Mill | Manufacture of steel tubes used internally for bicycle frames and sold externally. | Integrated steel manufacturing reduces input cost and dependency, enhancing margin stability. | Internal cycle units and external industrial clients (B2B). | Specialized cold-rolled steel tubes. | 85 | 11 | Internal supply and external sales of steel tubes. | Sales based on contracts and market pricing. | Expanded steel tube capacity, presence in steel component market. | |
