Last Updated on October 17, 2023 by BFSLTeam BFSLTeam
When you think of leading names in the Indian industrial landscape, ‘Hero’ undoubtedly stands out. This isn’t just a brand associated with top-notch two-wheelers; it’s a story of dedication, continuous innovation, and an unwavering commitment to quality. From its modest beginnings, the Hero Group has grown beyond its initial dreams. Its influence spans from bicycles to motorcycles, and from renewable energy to information technology. This blog aims to offer a detailed overview of the Hero Group, highlighting its vast contributions to India’s growth. Join us as we navigate through the evolution of this remarkable enterprise that symbolises trust, dependability, and unmatched excellence both in India and globally.
Table of Content
About Hero Group
Before delving into the specifics, let’s encapsulate the essence of Hero Group:
The Hero Group, initially famed for its bicycles, metamorphosed into a colossal conglomerate with its fingers in a myriad of pies, ranging from automotive to IT. Its ascendancy to the zenith of the business echelons in India is both awe-inspiring and educative.
| Parameter | Details |
| Founder | Brijmohan Lall Munjal |
| Industry Type | Conglomerate (Majorly Two-Wheelers) |
| Year Founded | 1956 |
| Headquarters | New Delhi, India |
| Key People | Pawan Munjal, Pankaj Munjal and Suman Kant Munjal |
| Number of Countries | 47 |
Overview of Hero Group
In 1956, a significant chapter in India’s industrial journey began with the establishment of Hero Cycles Limited by the Munjal brothers. From its inception, Hero wasn’t just a brand; it evolved into a symbol of trust, dependability, and top-tier quality. Today, when we think of two-wheelers in India, Hero emerges as a frontrunner.
Over time, this foundational venture expanded, leading to the birth of Hero MotoCorp. Previously known as Hero Honda Motors Ltd, this segment of the Hero Group not only made its mark in India but also etched its name on the global stage. This isn’t a small feat; consider the enormity of becoming the world’s largest two-wheeler manufacturer. What’s more impressive is Hero MotoCorp’s consistent performance, holding onto this title since 2001 for an unbroken 18 years.
But Hero’s journey is about more than numbers and sales. At its core, it’s about progress and innovation. From its base in New Delhi, Hero has always focused on advancing its technology. They’re dedicated to designing and rolling out modern motorcycles and scooters that cater to a wide range of customers worldwide.
On the commercial side, the Hero Group’s influence in the business world is substantial. It proudly ranks among India’s top 10 business entities, with an impressive estimated turnover of around USD 5 billion. This speaks volumes about its vast reach and the consistent faith that consumers place in the brand.
Evolution of Hero Group
1956: This year witnessed the foundation stone being laid with the establishment of Hero Cycles Limited.
1961: Branching into the bicycle component sector, Rockman Cycles Industries Limited was brought to life.
1963: Hero takes a global leap, pioneering bicycle exports from India.
1975: Hero Cycles Limited emerged as the dominant bicycle manufacturer in India.
1984: This marked a significant collaboration between Hero and Honda Motors of Japan, leading to the formation of Hero Honda Motors Limited.
1986: Hero Cycles Limited earns a spot in the Guinness Book of Records.
1988: The Hero Puch, a fuel-efficient game-changer, is introduced.
1993: Hero Motors is crowned India’s largest two-wheeler exporter.
2000: Hero Group widens its horizon, diving into IT and IT-enabled services.
2004: Hero Honda continues its growth with an astonishing 48% market share.
2007: Hero MotoCorp made a splash in the market with the introduction of “Hero Honda CBZ Xtreme”, a 100cc motorcycle that brought with it innovative design and advanced technology.
2009: Reflecting Hero’s soaring market presence, the 15 millionth two-wheeler was proudly rolled out from its facility in Gurgaon.
2010: Hero made a strategic decision to end its joint venture with Honda. This year also saw the birth of Hero Realty and Infra, highlighting the group’s ambition to branch out into various sectors.
2011: After parting from Honda, the conglomerate unveiled its new identity as Hero MotoCorp. With this fresh start, it introduced the “Impulse”, the first model free from Honda’s influence.
2013: Hero Group, in its commitment to green energy solutions, inaugurated Hero Future Energies, stepping into the role of a notable power producer.
2015: Expanding its tech footprint, the group launched Hero Electronix, aiming to spearhead technological ventures rooted in India.
2016: Displaying their independent prowess in Research and Development, Hero MotoCorp unveiled the “Splendor iSmart 110”.
2019: Another achievement was added to their list when Hero MotoCorp announced the production of 25 million units at their Haridwar Facility.
2022: With a vision for future mobility solutions, Hero MotoCorp allied with Hindustan Petroleum Corporation Ltd., marking a promising partnership.
Major Subsidiaries of Hero Group
| S. No. | Name | Sector | Year Founded |
| 1 | Hero MotoCorp | Two Wheelers | 1984 |
| 2 | Rockman Industries | Auto Parts | 1960 |
| 3 | Hero Future Energies | Renewable Energy | 2012 |
| 4 | Hero FinCorp | Financial services | 1991 |
| 5 | Hero Electronix | Electronics Manufacturing | 2015 |
Hero Future Energies
Hero Future Energies, established in 2012, is a pre-eminent Independent Power Producer (IPP) in India, specialising in wind, grid-connected solar, and rooftop solar energy sectors. The firm, under the guidance of Chairman & Managing Director Rahul Munjal, has been pivotal in championing renewable energy solutions in India, significantly bolstering the nation’s sustainable energy goals.
Rockman Industries
Beginning its operations in 1960 as a bicycle component producer, Rockman Industries has now become an epitome of manufacturing excellence in Aluminium die casting, machined, and painted assemblies. With a global footprint, they cater to several esteemed motorcycle manufacturers and automobile OEMs worldwide. The leadership of Chairman Suman Kant Munjal and Managing Director Ujjwal Munjal has been instrumental in the company’s meteoric rise.
Hero FinCorp
As the financial arm of the Hero Group, Hero FinCorp has distinguished itself as one of the rapidly growing Non-Banking Finance Companies (NBFCs) in India since its foundation in 1991. With a diverse portfolio extending beyond vehicle financing, the company, led by Chairman Dr Pawan Munjal and Jt. MD and CEO Abhimanyu Munjal, offers tailored financial solutions for businesses and individuals alike.
Hero Cycles
Emerging as a foundational entity of the Hero Group, Hero Cycles has grown to be recognised globally as one of the foremost bicycle manufacturers. Since its establishment, it has earned a reputation for reliability and quality, making it a preferred choice not just in Indian homes but across international borders. Providing a wide spectrum of bicycles, from basic models to advanced ones, the brand serves the needs of all age groups. It’s noteworthy to mention that Hero Cycles has been acclaimed by the Guinness Book of Records for its expansive production, highlighting its dominance in the bicycle manufacturing industry. The sustained growth and commitment to excellence of the brand are a reflection of the Munjal family’s strategic leadership and dedication.
Hero MotoCorp
The crown jewel of the group, Hero MotoCorp has maintained its stature as a trusted name in the two-wheeler manufacturing sector since 1984. With its operations extending to nearly 40 countries, it encapsulates the group’s commitment to quality and innovation in the automotive domain. The sustained leadership of Dr Pawan Munjal, serving as the Chairman, MD, and CEO, has been pivotal in ensuring the brand’s undiminished global prominence.
Hero Electronix
Marking the Hero Group’s stride into the tech arena, Hero Electronix was founded in 2015. Aiming to nurture top-tier technology businesses out of India, the company has made significant inroads in various tech sectors, including semiconductors and intelligent systems. The forward-thinking approach of Chairman Suman Kant Munjal and Founder Director Ujjwal Munjal has been the driving force behind its commendable success.
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Major Acquisitions (or Joint Ventures) by Hero Group
The Hero Group, in its pursuit of excellence and expansion, has made several notable partnerships and acquisitions. These strategic moves have played a significant role in shaping the company’s journey and strengthening its hold in various sectors.
Collaboration with Honda (1984):
This marked one of the defining moments in India’s automotive space. Hero and Honda, two giants, came together to form ‘Hero Honda Motors Limited’. The synergy between Hero’s market understanding and Honda’s technical expertise resulted in the creation of motorcycles that perfectly met the aspirations and needs of the Indian populace.
Partnership with Steyr Daimler Puch (1987):
Hero Motors ventured into a significant collaboration with the Austrian giant, Steyr Daimler Puch. This partnership allowed Hero to diversify its product offerings, blending international technology with local market understanding.
Tie-up with National Bicycle Industries (2002):
Moving a step ahead in its bicycle segment, Hero Cycles joined forces with the prestigious National Bicycle Industries, a member of the Matsushita Group. This union meant that Hero could introduce advanced bicycles, reinforcing their commitment to quality and innovation.
Engagement with Bombardier-Rotax GmbH (2004):
With a vision to enhance their scooter segment, Hero Group forged a partnership with Bombardier-Rotax GmbH. This association ensured the introduction of more robust and efficient scooter engines to the Indian market.
Alliance with Aprilia Scooters from Italy (2004):
The world-renowned Italian brand, Aprilia, collaborated with Hero to introduce a fusion of power and style in the scooter segment. This tie-up brought European flair to Hero’s robust scooter lineup.
Products/Brands Under Hero Group
The Hero Group, in its illustrious journey, has unveiled a series of products that have not only met the evolving demands of consumers but have often set benchmarks in their respective segments. Let’s delve deeper into some of their major products:
Hero Motorcycles and Scooters
- Commuters: Hero’s commuter motorcycles, such as the Hero Splendor, Passion, and HF Deluxe, are designed for everyday convenience, offering unmatched fuel efficiency and reliability. These bikes have been the go-to choice for millions, making daily commutes economical and comfortable.
- Premium Segment: Bikes such as Hero Xtreme and Hero Hunk cater to those looking for a blend of style, performance, and affordability. They come equipped with advanced technology and offer a thrilling riding experience.
- Scooters: Hero Pleasure, Maestro Edge, and Destini are some of the leading names in the scooter segment. Known for their blend of style, comfort, and performance, they offer urban riders a perfect mix of utility and style.
Hero Cycles:
- Roadsters: Traditional bicycles meant mainly for daily commuting. They are built robustly to handle daily wear and tear.
- Mountain Bikes: Designed for off-road cycling, these bikes come equipped with features to enhance durability and performance in rough terrains.
- Kids Range: Colourful and designed with utmost safety, these cycles cater to the young riders making their first tryst with cycling.
- E-bikes: With the dawn of the electric revolution, Hero has also ventured into electric bicycles, catering to an audience that seeks the perfect blend of pedal power and motor assistance.
Hero Electric Scooters
With the world moving towards sustainable mobility, Hero Electric has introduced a range of electric scooters. Models like Optima, Photon, and Flash are paving the way for an eco-friendly urban commute. They are not only easy on the environment but also offer substantial savings in running costs.
Hero Puch
Once a popular choice among the youth, the Hero Puch was known for its petrol efficiency and power in the 50 – 65 cc segment. This moped offered an affordable means of transportation for many and holds nostalgic value for several Indians.
Hero Sports Bikes
To cater to the thrill-seekers and enthusiasts, Hero has its line of sports bikes. Models like the Hero Karizma have garnered a significant following among the youth for their sleek design and performance.
Spares and Accessories
Beyond just vehicles, Hero ensures that riders have access to genuine spare parts and a range of accessories to enhance their riding experience. From helmets to riding gear, they offer it all, ensuring safety and style go hand in hand.
Conclusion
The Hero Group’s journey, from its inception in 1956 to its current global stature, is a shining example of Indian enterprise. Initially starting as a bicycle company, it has grown exponentially, marking its prominent presence in various sectors. The Hero name is not just synonymous with two-wheelers; it signifies quality, trust, and excellence on a global scale. Each of Hero’s ventures reflects its commitment to the highest standards. So, when you associate with the Hero Group in any capacity, remember that you’re aligning with a brand that represents legacy, innovation, and the future.
