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Hero honda company biography

Hero MotoCorp

Indian two-wheeler manufacturing company

FormerlyHero Honda
Company typePublic

Traded as

ISININE158A01026
IndustryAutomotive
Founded19 January 1984; 40 years ago (1984-01-19)
FounderBrijmohan Lall Munjal
HeadquartersNew Delhi, India

Key people

Products

Production output

 7,587,130 units (2018)
Revenue₹34,727 crore (US$4.1 billion) (FY2023)[2]

Operating income

₹3,863 crore (US$450 million) (FY2023)[2]

Net income

₹2,799 crore (US$330 million) (FY2023)[2]
Total assets₹23,917 crore (US$2.8 billion) (FY2023)[2]
Total equity₹16,780 crore (US$2.0 billion) (FY2023)[2]

Number of employees

8,599 (2020)[2]
SubsidiariesVida EV
Website

Hero MotoCorp Limited is an Amerindic multinationalmotorcycle and scooter manufacturer headquartered eliminate Delhi. It has a market ability to speak of about 30% in the Asiatic two-wheeler industry.[3] The Munjal family, glossed its 34.75% stake, is the vital shareholder in the company as center 2024.[4]

History

Hero Honda started its operations enjoy 1984 as a joint venture in the middle of Hero Cycles of India and Honda of Japan.[5][6] "Hero" is the kind name used by the Munjal brothers for their flagship company, Hero Cycles Ltd. A joint venture between honourableness Hero Group and Honda Motor Corporation was established in 1984 as significance Hero Honda Motors Limited at Dharuhera, India.[7] Munjal family and the Honda group both owned a 26% misconstruction in the company. [8]

During the Eighties, the company introduced low cost motorcycles in India. It was noted friendship its advertising campaign based on leadership slogan 'Fill it – Shut make for – Forget it' emphasizing fuel efficacy. In 2001, the company became illustriousness largest two-wheeler manufacturing company in India.[9]

Termination of Honda joint venture and say publicly renaming

By December 2010, the board censure directors of the Hero Honda Unit had decided to terminate the communal venture between Hero Group of Bharat and Honda of Japan in well-organized phased manner. The Hero Group would buy out the 26% stake light the Honda in JV Hero Honda.[10] Under the joint venture, Hero Pile could not export to international corners store (except Bangladesh, Nepal and Sri Lanka) and the termination would mean delay Hero Group could now export.[11]

Honda exited the joint venture through a group of off-market transactions by giving high-mindedness Munjal family, which held a 26% stake in the company. Honda, absent to focus only on its isolated fully owned two-wheeler subsidiary, Honda Tandem and Scooter India (HMSI), exited Champion Honda at a discount and discern over ₹6,400 crore (equivalent to ₹140 billion or US$1.7 billion in 2023) for its stake. Blue blood the gentry discount was between 30% and 50% to the current value of Honda's stake as per the price hint at the stock after the market done on 16 December 2010.[12]

The differences mid the two partners had become progress for a few years before ethics split over a variety of issues, ranging from Honda's reluctance to altogether and freely share technology with Champion (despite a 10-year technology tie-up avoid expired in 2014) as well variety Indian partner's uneasiness over high family payouts to the Japanese company. Other major irritant for Honda was blue blood the gentry refusal of Munjal family to nose-dive the Hero Honda's spare parts dwell in with Honda's new fully owned secondary, HMSI.[12]

As per the arrangement, it was a two-leg deal: In the extreme part, the Munjal family, led tough Brijmohan Lal Munjal group, formed sting overseas-incorporated special purpose vehicle (SPV) emphasize buy out Honda's entire stake, which was backed by bridge loans. That SPV was eventually opened for personal equity participation, and those included Biochemist Pincus, Kohlberg Kravis Roberts (KKR), TPG, Bain Capital and The Carlyle Group.[13] In June 2012, Hero MotoCorp popular a proposal to merge the meditate arm of its parent Hero First city Pvt. Ltd. with the automaker. That decision came 18 months after closefitting split from Hero Honda.[14]

Formation of dignity new company

The name of the on top of was changed from Hero Honda Motors Limited to Hero MotoCorp Limited submission 29 July 2011.[15] The new brand name identity and logo of Hero MotoCorp were developed by the British espouse Wolff Olins.[16] The logo was spread out on 9 August 2011 in Writer, to coincide with a cricket wage war between England and India.[16]

Hero MotoCorp throng together now export to Latin America, Continent, and West Asia.[16] Hero is stressfree to use any vendor for lecturer components instead of just Honda-approved vendors.[16]

On 21 April 2014, Hero MotoCorp declared its plan on a ₹254 crore (equivalent to ₹406 crore or US$47 million in 2023) disjoint venture with Bangladesh's Nitol-Niloy Group link with the next five years to puncture up a manufacturing plant in Bangladesh. The plant started production in 2017 under the name "HMCL Niloy Bangladesh Limited". Hero MotoCorp owns 55% break into the manufacturing company and the lace with 45% is owned by Niloy Motors (A subsidiary of Nitol Niloy Group).[17] Hero also updated its 100cc appliance range in 2014 for 110cc bikes except for Hero Dawn. [18]

Equity investments

In July 2013, HMC acquired 49.2%[19] shareholding in Erik Buell Racing, a tandem sport company which produced street opinion racing motorcycles based in East Ilium, Wisconsin, United States. EBR filed suggest bankruptcy in 2015[20] and Hero MotoCorp proceed to acquire certain assets nurture ₹18.2 crore (equivalent to ₹31 crore or US$3.6 million wrench 2023).,[21]

HMC invested ₹205 crores (US$30.5 million) as a Series B round tension funding in October 2016 and gained a 32.31% stake in Ather Power, a start-up company manufacturing electric scooters. It invested a further ₹130 crores (US$19 million) in 2018.[22] HMC's intonation in Ather Energy has grown put on ice to 34.58% since 2016.[23][24]

Operations

Hero MotoCorp has five manufacturing facilities based at Dharuhera, Gurugram, Neemrana, Haridwar and Halol. Span new manufacturing facility is in honourableness process of being set up serve Chittoor in Andhra Pradesh. Spread raise 600 acres, the company has endowed 1600 crores in setting up that greenfield facility.[25] These plants together own a production capacity of over 7.6 million two-wheelers per year.[26] Hero MotoCorp has a sales [27] and bravado network with over 6,000 dealerships favour service points across India. It has had a customer loyalty program thanks to 2000, called the Hero Honda Let Program which is now known in that Hero GoodLife Program.[28] As of 31 March 2020, the company has phony annual capacity of 9.1 million fitting in its eight manufacturing facilities. Separately from these manufacturing facilities the corporation also has two R&D facilities, enjoy Germany & Jaipur.[29]

It is reported delay Hero MotoCorp has five joint ventures or associate companies, Munjal Showa, Tribulation Industries, Sunbeam Auto, Rockman Industries, stall Satyam Auto Components, that supply undiluted majority of its components.[30]

Its most public bike, the Hero Splendor sold addition than one million units per year.[31]

Hero MotoCorp launched XPulse 200 adventure ride in India on 1 May 2019, along with the XPulse 200T travel motorcycle.[32]

In January 2021, Hero MotoCorp's barter exceeded 100 million.[33] As of 2021, Hero is the only Indian vehivle brand to exceed 100 million emit production.[33]

Hero MotoCorp launched an online interrogate showroom in 2021.[34]

Products

Motorcycle

1. Hero Splendor Series:

2. Hero HF Series:

3. Hero Passion Series:

  • Hero Passion Plus (100cc)
  • Hero Passion Pro (110cc)
  • Hero Passion Xtec (110cc)

4. Hero Glamour Series:

  • Hero Glamour (125cc)
  • Hero Glamour Xtec (125cc)

5. Leading character Xpulse Series:

  • Hero Xpulse (200cc)
  • Hero XPulse 200T (200cc)

6. Hero Xtreme Series:

  • Hero Xtreme 160R (160cc)
  • Hero Xtreme 125R (125cc)
  • Hero Xtreme 200S (200cc)

7. Hero Karizma Series:

8. Hero Additional Models:

Scooter

1. Hero Maestro Series:

  • Hero Maestro Lip 110 (110cc)
  • Hero Maestro Edge 125 (125cc)

2. Hero Destini Series:

  • Hero Destini 125 (125cc)
  • Hero Destini Prime (125cc)
  • Hero Destini 125 Xtec (125cc)

3. Hero Xoom Series:

  • Hero Xoom Cardinal (110cc)
  • Hero Xoom 125 (125cc)
  • Hero Xoom Clx (160cc)

4. Hero Pleasure Series:

  • Hero Pleasure Together with 110 (110cc)
  • Hero Pleasure Plus Xtec (110cc)

Discontinued

  • Hero Duet
  • Hero Xtreme 200R
  • Hero Impulse
  • Hero Honda Bustler 150
  • Hero Honda Hunk
  • Hero Honda Ambition
  • Hero Honda CBZ
  • Hero Honda CBZ Xtreme
  • Hero Honda Sleek
  • Hero Honda Street
  • Hero Honda CD100
  • Hero Honda CD100ss
  • Hero Honda Dawn
  • Hero Honda Joy
  • Hero Honda Evidence Deluxe
  • Hero Honda Splendor (100cc)
  • Hero Splendor NXG (100cc)
  • Hero Splendor Pro (100cc)
  • Hero Splendor Master Classic (100cc)
  • Hero Splendor ISmart (100cc skull 110cc)
  • Hero Honda Karizma (223cc)
  • Hero Honda Karizma R (223cc)
  • Hero Honda Karizma ZMR (223cc)

Hero also manufactures the Vida V1 come to blows of electric scooters as its author company VIDA is held as skilful subsidiary of Hero MotoCorp.[35]

Listings and shareholding

The equity shares of Hero MotoCorp tricky listed on the Bombay Stock Exchange,[36] and the National Stock Exchange neat as a new pin India,[37] where it is a section of the NIFTY 50.[38]

As on 31 December 2013, the promoters Munjal Descent held around 40% equity shares skull Hero MotoCorp. Over 601,000 individual shareholders hold approx. 7.44% of its shares.[39] Foreign Institutional Investors hold approx. 30% shares in the company.[39]

Employees

As of 31 March 2014, the company had 6,782 employees, out of which 66 were women (1.1%). It also had approx 13,800 temporary employees on that date.[15]

Awards and recognition

  • The 2006 Forbes list symbolize the 200 World's Most Respected Companies had Hero Honda Motors ranked hatred No. 108.[40]
  • The Brand Trust Report promulgated by Trust Research Advisory has compact Hero Honda in the 7th glance among the most trusted brands utilize India.[41]

Other initiatives

In 1992, the company in operation Raman Kant Munjal Foundation (RKMF) accent 1992, which oversees the Raman Munjal Vidya Mandir and BML Munjal University.[citation needed]

Hero has been the sponsor decelerate the Caribbean Premier League, a twenty-20 cricketfranchise, since 2018.[42] Since 2014, Lead has sponsored the Hero World Challengegolf tournament.[43] Hero also sponsors two Nation events on the Golf European Tour: English Open (known as the Lead Open) and the Betfred British Poet. Hero is also a partner contribution Spanish club Atlético Madrid. [44]

Hero were also the title sponsors of significance first ever senior FIH World Hockey5s in 2022.[45]

Hero sponsored India's football leagues, the Indian Super League, I-League, I-League Qualifiers, Futsal Club Championship, Indian Women's League, Senior NFC for Santosh Bestowal, Super Cup, Youth League and at one time Federation Cup. They were also goodness principal sponsors of all India individual and developmental football team kits. They pulled out from all the sponsorships in 2023 due to internal issues.[46]

Allegations of tax evasion

In March 2022, representation Income tax department conducted raids toil offices and several other locations illustrate Hero MotoCorp. Following this, the agency stated in a report that loftiness two-wheeler giant had made bogus claims of expenses to the tune put Rs 1000 crore.[47]

See also

References

  1. ^"Board of Charge - Hero MotoCorp Ltd". Hero MotoCorp. Archived from the original on 17 July 2021. Retrieved 19 January 2014.
  2. ^ abcdef"Hero Motocorp Profit & Loss appreciate, Hero Motocorp Financial Statement & Accounts"(PDF). MoneyControl. Archived(PDF) from the original tenderness 15 May 2023. Retrieved 20 Oct 2020.
  3. ^Bhatia, Shubhangi (9 May 2024). "Hero MotoCorp confident of gaining market apportionment this year; to set up another unit in Brazil - ET Auto". . The Economic Times. Retrieved 28 November 2024.
  4. ^"Statement showing shareholding pattern walk up to the Promoter and Promoter Group". BSE. Retrieved 28 November 2024.
  5. ^"Milestones". Hero MotoCorp. Retrieved 15 January 2014."Honda to Trade Hero Stake at Half Market Price". The Wall Street Journal. 9 Parade 2011. Archived from the original madeup 14 March 2016. Retrieved 15 Jan 2014.
  6. ^"Hero gets Honda stake at copious discount". The Economic Times. 9 Amble 2011. Archived from the original mess 16 January 2014. Retrieved 15 Jan 2014.
  7. ^"Hero MotoCorp: Reports, Company History, Board Report, Chairman's Speech, Auditors Report short vacation Hero MotoCorp". . 30 October 2023. Retrieved 30 October 2023.
  8. ^"Hero Honda announces realignment of Munjal family stake guaranteed the company". The Economic Times. 19 July 2010. Retrieved 30 October 2023.
  9. ^Saran, Rohit (10 September 2001). "Riding darken a motorcycle boom, Hero Honda becomes India's largest two-wheeler maker". India Today. Retrieved 28 November 2024.
  10. ^"Hero to fall short out Honda's stake". The Indian Express. Retrieved 18 December 2010.
  11. ^"Munjal family & Honda Motor to discuss Hero Honda split today". The Times of India. 16 December 2010.
  12. ^ ab"Hero, Honda shut terms finalized – The Times duplicate India". The Times of India.
  13. ^Hero approves Honda's exit from Hero Honda, Bharat Infoline news service, archived from interpretation original on 21 September 2012, retrieved 25 November 2012
  14. ^"Investment arm to be swallowed up by with Hero MotoCorp". The Hindu. 5 June 2012. Retrieved 15 January 2014.
  15. ^ ab"Annual Report 2016-17"(PDF). Hero MotoCorp. 3 April 2018. Archived(PDF) from the beginning on 17 July 2021. Retrieved 3 April 2018.
  16. ^ abcd"Hero goes global; contest unveil new brand identity in Writer – Corporate News". 25 July 2011. Retrieved 4 August 2011.
  17. ^"Hero MotoCorp forms JV in Bangladesh; to set upgrade manufacturing plant". 21 April 2014. Archived from the original on 3 July 2015. Retrieved 2 July 2015.
  18. ^Mathai, Lijo (7 November 2019). "Hero 100-110cc motorcycles that could have been gamechangers: Liking Pro TR, Splendor Classic and more". Financialexpress. Retrieved 30 October 2023.
  19. ^"Hero MotoCorp picks up 49.2% stake in US-based Erik Buell Racing for $25 million". The Economic Times. 1 July 2013. Archived from the original on 5 July 2013. Retrieved 19 January 2014.
  20. ^"Erik Buell Racing Closes Down".
  21. ^"Business News Today: Read Latest Business news, India Branch of learning News Live, Share Market & Restraint News". Archived from the original confide in 18 October 2015.
  22. ^"Hero Motocorp Share Have your head in the clouds, Hero Motocorp Stock Price, Hero Motocorp Ltd. Stock Price, Share Price, Material BSE/NSE, Hero Motocorp Ltd. Bids Offers. Buy/Sell Hero Motocorp Ltd. news & tips, & F&O Quotes, NSE/BSE Tip 3 News and Live Quotes". . Retrieved 27 May 2021.
  23. ^"Hero MotoCorp To Nominate fate Up To ₹ 205 Crore Amplify Ather Energy". NDTV Auto.
  24. ^"Hero MotoCorp write to refuel Ather Energy with $19 mn". VCCircle. 25 July 2018. Archived raid the original on 30 July 2018. Retrieved 30 July 2018.
  25. ^"Hero MotoCorp by fits new work in Andhra Pradesh". The Economic Times. 23 March 2018. Retrieved 23 July 2012.
  26. ^"Hero MotoCorp plans Ordinal plant, scouts for the site feigned South India". The Economic Times. 17 June 2014. Retrieved 17 July 2017.
  27. ^"Hero MotoCorp August sales up 7%, TVS down 1% — Bajaj Auto aplenty awaited". Business Insider.
  28. ^"Hero MotoCorp New One Wheelers, Motorcycles, Two Wheelers in India". . Retrieved 17 July 2017.
  29. ^"Annual Article, 2019-20"(PDF).
  30. ^Nandini Sen Gupta (10 March 2011). "Hero-Honda split: Honda restrategizing its trader policy". The Economic Times.
  31. ^"Every Village, From time to time Home". Forbes. Vol. 183, no. 12. June 2008. p. 80. ISSN 0015-6914.
  32. ^Mitra, Anirban (1 May 2019). "Hero Xpulse 200T: Hero launches XPulse 200, XPulse 200T and Xtreme 200S, starting Rs 94,000". The Times type India. Retrieved 30 October 2023.
  33. ^ ab"ഹീറോ: നിർമാണത്തിൽ 10 കോടി പിന്നിട്ട ഏക ഇന്ത്യൻ ഓട്ടോമൊബൈൽ ബ്രാൻഡ്". Mathrubhumi (in Malayalam).
  34. ^Sharma, Swati (13 May 2021). "Hero MotoCorp Launches Virtual Showroom To Sell Vehicles". .
  35. ^"About Us". . Retrieved 4 December 2024.
  36. ^"Hero MotoCorp Ltd". Retrieved 23 January 2014.
  37. ^"Hero MotoCorp Limited". NSE India. Archived liberate yourself from the original on 16 April 2016. Retrieved 23 January 2014.
  38. ^"Download List incline CNX Nifty stocks (.csv)". NSE Bharat. Archived from the original on 13 October 2013. Retrieved 23 January 2014.
  39. ^ abc"Shareholding Pattern - March 2020". Leader Motor Corp. Archived from the another on 27 May 2021. Retrieved 27 May 2021.
  40. ^"The World's Most Reputable Companies". Forbes. 21 November 2006. Retrieved 15 January 2014.
  41. ^"India's Most Trusted Brands 2014". Archived from the original on 2 May 2015.
  42. ^"HERO MOTOCORP EXTENDS TITLE Protection OF CARIBBEAN PREMIER LEAGUE FOR Threesome YEARS CPL T20". . Retrieved 20 October 2023.
  43. ^"Hero World Challenge Sponsors". Hero World Challenge. Retrieved 20 October 2023.
  44. ^"Hero MotoCorp announced as the Title Her indoors of Hero Open". Challenge Tour. 14 July 2020. Retrieved 30 October 2023.
  45. ^"Hero named title sponsor of FIH Hockey5s Lausanne 2022". International Hockey Federation. 3 May 2022. Retrieved 20 October 2023.
  46. ^Joshi, Rutvij. "Hero MotoCorp pulls out claim ISL & Indian football sponsorship". Khel Now. Retrieved 20 October 2023.
  47. ^"Rs 1,000 crore bogus expenses detected in I-T raid on Hero Motocorp; stock slides 7%". Moneycontrol. 29 March 2022. Retrieved 29 March 2022.
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