Hero Group ranks among Top 10 Indian Business Houses.
Here is a brief history and profile of Hero Group of Companies.
Hero Group
Hero Group is a multi-unit, multi-product, geographically diversified
Group with myriad interests. Hero, is synonymous with two-wheelers in
India and Group's other ventures include product designing, IT enabled
services, finance and insurance etc. Hero Group ranks amongst the Top 10
Indian Business Houses. The Group today comprises of 20 companies, 300
ancillary suppliers, over 5,000 outlets, and has employee strength of
more than 23,000.
The origins of Hero Group can be traced to 1956 when Hero Cycles
Limited was established by Munjal brothers: Satyanand Munjal, Brijmohan
Lall Munjal and O. P. Munjal. Before the establishment of Hero Cycles,
which is the flagship company of the Hero Group, Munjal brothers were
modest manufacturers of bicycle components. In 1961, Rockman Cycles
Industries Limited established, which is today the largest manufacturer
of bicycle chains and hubs. In 1963, Hero Group forayed into the
international market with bicycle exports from India. In 1971, Highway
Cycles was set up to meet the demands of Hero Cycles. It is today the
largest manufacturer of single speed and multi-speed freewheels. In
1975, Hero Cycles Limited became the largest manufacturer of bicycles in
India. In 1978, Majestic Auto Limited was formed and the Hero Majestic
Moped was introduced. In 1981, Munjal Castings was established. In 1984,
Hero Group started manufacturing motorcycles with the establishment of
Hero Honda Motors Limited in joint venture with Honda Motors of Japan.
In 1985, Munjal Showa Limited was established to manufacture shock
absorbers and struts. In 1986, Hero Cycles Limited entered the Guinness
Book of Records as the largest bicycle manufacturer in the World. In
1987, Hero Motors, a division of Majestic Auto Limited was set up in
collaboration with Steyr Daimler Puch of Austria. In 1987, Gujarat
Cycles Limited, presently known as Munjal Auto Industries Limited was
established to manufacture and export state-of-the-art bicycles and
allied products. In 1993, Hero Exports was established as the
International Trading Division for Group and non-Group products. In
1995, Hero Corporate Services Limited was established as the service
segment for the Hero Group Companies, ancillaries, suppliers, dealers
and other associates. In 1998, Munjal Auto Components was established to
manufacture gear shafts and gear blanks for motorcycles. In 2000, Hero
Group diversified into IT and IT enabled services through its service
segment - Hero Corporate Services Limited. In 2001, Hero Global Design
established to offer engineering services in CAD/CAM/CAE related to New
Product Development, Design, Engineering and Manufacturing. In 2002,
Easy Bill was established to offer utility bill collection & retail
services. In 2004, Hero Group forayed into retail insurance business
with the establishment of NsurePlus. Today, Hero Group enjoys leadership
position in all the business segments it has entered.
Major Achievements of Hero Group
- Hero Honda Motors is the World's largest manufacturer of two-wheelers.
- Hero Cycles Limited is a Guinness Book Record holder since 1986
as the world's largest manufacturer of bicycles.
- Hero Honda is ranked number one in the two-wheeler category on
Environmental Performance by the Centre for Science and Environment.
- Group Chairman, Mr Brijmohan Lall Munjal received the coveted "Ernst
& Young Entrepreneur of the Year" award for 2001.
Note: The above information was last updated on 21-07-2007
