Hero MotoCorp Limited: History, Latest Updates, Milestones, Subsidiaries & Share Price
Introduction
Since 1985, Hero MotoCorp has been dedicated to cultivating joy through innovation. With a core commitment to advancing mobility, Hero MotoCorp has successfully reached markets in over 40 countries, serving the aspirations of millions worldwide. Boasting a customer base of 110 million satisfied individuals, the company proudly holds the #1 position as a two-wheeler manufacturer. With an extensive network of 9000+ customer touch points, Hero MotoCorp has delivered excellent service for over 37 years.
Headquartered in New Delhi, Hero MotoCorp Limited stands as an Indian multinational motorcycle and scooter manufacturer. Globally, it ranks among the largest two-wheeler manufacturers, securing an impressive 46% market share in the Indian two-wheeler industry. As of May 27, 2021, the company's market capitalization stands at Rs. 59,600 crore, equivalent to Rs.700 billion or US$8.8 billion in 2023. The journey of Hero MotoCorp is a testament to its enduring commitment to innovation and customer satisfaction.
Hero MotoCorp Limited MOVES IN 2024
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May 2024: Hero MotoCorp has announced its Q4 results, reporting a significant 18% increase in profit, amounting to Rs 1,016 crore. The company has also declared a final dividend of Rs 40 per share for its shareholders. For the fourth quarter of the fiscal year 2024, Hero MotoCorp's revenue from operations surged to Rs 9,519 crore, reflecting a 15% year-on-year growth from Rs 8,307 crore in the same period of the previous year. As India’s largest motorcycle manufacturer by market share, Hero MotoCorp has shown robust financial performance, with substantial growth in both profit and revenue.
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Hero MotoSports from India secured an impressive second-place finish at the Dakar Rally 2024, showcasing their remarkable performance and competitiveness in the prestigious event.
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Hero MotoCorp is set to expand its Vida lineup with new electric scooter launches in the premium, mid, and mass segments by the end of September 2024, as disclosed in a recent earnings call. Chief Business Officer Swadesh Srivastava indicated the inclusion of models with smaller batteries to cater to varied budgets. The Vida V1 Plus and V1 Pro are available at Rs 1,19,900 and Rs 1,49,000 respectively. To compete with brands like Ola Electric and TVS, which offer more affordable options, Hero MotoCorp plans to introduce a new electric scooter priced around Rs 1 lakh.
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On November 16, 2023, HERO MOTOCORP achieved its highest-ever retail sales record, surpassing 14 lakh units during the 32-day festive period, showcasing a remarkable 19% growth. The festive momentum started on November 1, 2023, with a robust 26% growth in October 2023, dispatching 5.74 lakh units of motorcycles and scooters.
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On November 1, 2023, HERO MOTOCORP reported Q2 FY’24 results, with revenue at Rs. 9,445 crore and a profit of Rs. 1,054 crores. The second quarter witnessed a 47% growth in Q2 PAT, contributing to a cumulative 40% growth in H1.
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Inaugurating its first premium dealership on October 20, 2023, HERO MOTOCORP unveiled 'HERO PREMIA' in Calicut, displaying a premium range, including KARIZMA XMR, HARLEY-DAVIDSON X440, and VIDA V1 scooters.
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On October 17, 2023, HERO MOTOCORP achieved a milestone by selling 1,000 HARLEY-DAVIDSON X440 units across 100 dealerships.
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On October 4, 2023, HERO MOTOCORP received 13,688 bookings for KARIZMA XMR.
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On October 1, 2023, HERO MOTOCORP maintained its momentum by selling 5.36 lakh units of motorcycles and scooters.
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On September 29, 2023, HERO MOTOCORP announced price revisions for select motorcycles and scooters, effective from October 3, 2023.
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On September 1, 2023, HERO MOTOCORP sold 4.89 lakh units of motorcycles and scooters.
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On August 10, 2023, HERO MOTOCORP reported a Q1 FY’24 revenue of Rs. 8,767 crores, achieving a profit growth of 51%.
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On August 9, 2023, three HERO MOTOCORP brands featured in the top 10 best-selling motorcycles, with HERO PASSION entering the top 10 in June-July 2023.
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On August 1, 2023, HERO MOTOCORP continued its successful sales streak by selling 3.91 lakh units of motorcycles and scooters.
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On July 3, 2023, HERO MOTOCORP and HARLEY-DAVIDSON co-developed the premium motorcycle 'HARLEY-DAVIDSON X440,' debuting in India.
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On July 1, 2023, HERO MOTOCORP sold 4.37 lakh units of motorcycles and scooters.
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On June 23, 2023, HERO MOTOCORP partnered with NWWA and the Indian Navy for community development initiatives.
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On June 6, 2023, HERO MOTOCORP and ZERO MOTORCYCLES agreed to collaborate on new premium electric vehicles.
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On June 1, 2023, HERO MOTOCORP continued its successful sales trend by selling over 5.19 lakh units of motorcycles and scooters in May 2023, registering a 7% growth over May 2022.
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On May 12, 2023, HERO MOTOCORP revitalized its presence in Costa Rica by partnering with MOTOSPORT S.A. as its exclusive distributor for aggressive expansion.
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On May 8, 2023, HERO MOTOCORP collaborated with the Uttarakhand government for biodiversity conservation.
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On May 4, 2023, HERO MOTOCORP reported Rs. 8307 crores in revenue, a 12% growth, and a profit of Rs. 859 crores, a 37% growth, declaring a final dividend of Rs. 35 per share and a total dividend of Rs. 100 per share, equal to 5000%.
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On May 1, 2023, HERO MOTOCORP continued its successful sales trend by selling 3.96 lakh units of motorcycles and scooters in April 2023.
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On April 26, 2023, HERO MOTOSPORTS riders secured positions in the overall top 10 during the Sonora Rally.
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On April 10, 2023, VIDA, Powered by Hero, became the official Electric Mobility partner of Lucknow Super Giants.
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On April 5, 2023, HERO MOTOCORP launched VRS for staff.
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On April 1, 2023, HERO MOTOCORP continued its successful sales trend by selling 5.20 lakh units of motorcycles and scooters in March 2023, registering a growth of over 15% over March 2022, with a total of 53 lakh (5.3 million) units sold in FY’23 (April-March 2023).
Evolution Of Hero MotoCorp Limited: From Past to Present
|
Year |
Evolution |
|
19th January, 1984 |
Commencement of operations as a joint venture between Hero Cycles of India and Honda of Japan. |
|
1994 |
The company plans to expand the Dharuhera plant to 240,000 units per annum and establish a new plant at Gurgaon Industrial Estate with a capacity of 150,000 units per annum. |
|
1997 |
Hero Honda Motors Ltd (HHML) inaugurated a modern motorcycle plant in Gurgaon for Honda Super Cub production, marking a new era in India's motorcycle industry. Hero Motors, part of the Rs. 1,600 crore Hero group, also established a plant in Brazil for manufacturing Hero Winner scooters. |
|
1998 |
Hero Honda explores scooters with Honda post Honda's exit from Kinetic Honda venture. In a five-year agreement, Kinetic Honda Motor retains technical support and market access after Honda's stake sale to Kinetic Engineering. The company introduces CBZ(ee), a groundbreaking bike with Transient Power Fuel Control (TPEC) system. |
|
1999 |
Hero Honda and 20th Century Finance signed a MoU for Hero Honda motorcycle financing. The joint venture between Honda Motor’s and the Hero group aims to increase its market share to 38.6%. Hero Motors forms a joint venture with Briggs Stratton for four-stroke engine development. Honda Motor Japan re-enters Indian scooter market and explores three-wheelers in collaboration with Hero Honda Motors. |
|
2001 |
Hero Honda becomes the largest two-wheeler manufacturing company globally. |
|
2002 |
The company is in the BSE Sensex top 30 |
|
2003 |
Hero Honda and SBI Cards launch a co-branded credit card. Collaborates with SISI to train diploma-holding unemployed youth. Implements a dealer credit system to cut receivables, saving Rs 100 crore. |
|
2007 |
Yutaka Kudo appointed as Director of Hero Honda Motors from April 1, 2007. Hero Honda remains World No. 1 for the 6th year |
|
2008 |
Inauguration of the Hero Honda Haridwar Plant. |
|
2010 |
Board decides to terminate joint venture with Honda, allowing Hero Group to buy out Honda's 26% stake. |
|
July 2011 |
Hero Honda Motors Limited changes its name to Hero MotoCorp Limited. Hero Honda rebrands as Hero MotoCorp, marking a new licensing agreement with Honda. The company receives an updated Certificate of Incorporation as Hero MotoCorp Limited. |
|
2012 |
Hero MotoCorp forms key alliances: Erik Buell Racing for high-end bike technology, a European design and tech partner, and HDFC Bank for 6.99% financing. Hero Investment Pvt. Ltd. merges with Hero MotoCorp Ltd. |
|
2013 |
Munjal Family (founder) holds around 40% equity shares, individual shareholders hold approx. 7.44%, and foreign institutional investors hold approx. 30%. |
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2014 |
Joint venture with Bangladesh's Nitol-Niloy Group leads to the establishment of HMCL Niloy Bangladesh Limited. |
|
2014- 2015 |
Equity investments include acquiring a stake in Erik Buell Racing and investing in Ather Energy. |
|
2015 |
HMCL Americas INC settles to acquire EBR's Consulting Business, while Hero MotoCorp launches operations in its first plant outside India in Villa Rica, Colombia. |
|
2018 |
Hero MotoCorp begins constructing a new plant in Andhra Pradesh. |
|
2021 |
Hero MotoCorp partners with Gilera Motors Argentina and also reached a production milestone of 100 million units. |
|
2022 |
Hero MotoCorp expands in El Salvador, collaborates with BPCL for EV charging infrastructure, and partners with Nagpur Police on International Women's Day. |
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Company Information |
|
|
Name |
|
|
Founded year |
19th January, 1984 |
|
Founding Company |
Hero Honda |
|
Headquarters |
New Delhi, India |
|
Industry |
Automotive |
|
Current chairman, MD & CEO |
Mr. Pawan Munjal |
|
Major subsidiaries |
Vida Electric Scooter |
|
Revenue |
Rs. 34,727.39 crore (US$4.3 billion) (2023) |
|
Geographical presence |
Asia (including India), Latin America, Africa and Middle East |
|
NSE code |
NSE: HEROMOTOCO NSE NIFTY 50 Constituent |
|
BSE code |
BSE: 500182 |
Timeline Of Hero MotoCorp Limited
|
Year |
Fact |
Description |
|
1984 |
Incorporation |
Hero Honda Motors Limited. |
|
1990 |
Launch |
Hero Honda CD-100 SS |
|
1994 |
Expansion |
At Dharuhera |
|
1997 |
Establishment |
At Brazil |
|
1998 |
Launch |
Hero Honda- CBZ (ee) |
|
2000 |
Launch |
Hero Honda Baisakhi |
|
2001 |
Launch |
Hero Honda Passion |
|
2003 |
Launch |
Hero Honda CD Dawn, Hero Honda Karizma |
|
2004 |
Launch |
Hero Honda Ambition, Hero Honda Sting |
|
2005 |
Launch |
Hero Honda Pleasure |
|
2006 |
Launch |
Hero Honda X-treme, Hero Honda Glamour |
|
2007 |
Launch |
Hero Honda Splendor NXG, Hero Honda CD Deluxe, Hero Honda, Hero Honda Passion Plus, Hero Honda Hunk |
|
2008 |
Launch |
Hero Honda Passion Pro, Hero Honda CBZ Xtreme, Hero Honda Glamour Fi |
|
2009 |
Launch |
Hero Honda Karizma - ZMR |
|
2010 |
Launch |
Hero Honda Super Splendor |
|
2011 |
Launch |
Hero Glamour, Hero Glamour Fi, Hero CBZ Xtreme, Hero Karizma 2015 - Hero HF Dawn, Hero Passion Pro |
|
2016 |
Launch |
Hero Splendor iSmart 110 |
|
2018 |
Launch |
Hero Passion XPro |
|
2020 |
Launch |
Hero HF Deluxe BS-VI, Hero Maestro Edge 125 Stealth, Hero Splendor+ Black and accent. |
|
2021 |
Launch |
Hero Hunk 150R, Hero XPulse 200, Hero Pleasure+ Xtec |
|
2023 |
Launch |
Hero Karizma XMR, Hero Harley Davidson X440, Hero Vida V1, |
Inside Hero MotoCorp Limited: Exploring Subsidiary Ventures
Hero MotoCorp Limited
Corporate Actions/ Main News
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Hero MotoCorp Board appoints Mr. Niranjan Gupta as CEO.
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Hero MotoCorp, the global leader in two-wheeler manufacturing, has joined forces with electric vehicle (EV) manufacturer Ather Energy to create an interoperable fast-charging network in India. This collaboration enables EV users to effortlessly utilize VIDA and Ather Grids nationwide. The unified network spans 100 cities and comprises over 1,900 fast-charging points, as stated in an exchange filing by Hero MotoCorp.
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Hero MotoCorp achieved robust sales in November 2023, selling 491,050 units and marking a significant 26% growth compared to the same month in the previous fiscal year when it sold 390,932 units in November 2022. The company also set a new record for festive sales, surpassing 1.4 million units during the 32-day festive period from the start of Navratri’s to Bhai Dooj.
Vida Electric Scooter
Corporate Actions/ Main News
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The Hero MotoCorp Vida V1 electric scooter, introduced in India in October 2022, is gearing up for its entry into the European and UK markets.
Hero MotoCorp Limited Subsidiaries NSE/BSE: Current Share Prices
|
COMPANY NAME |
SECTOR |
SHARE PRICE LINK |
|
Hero MotoCorp Limited |
Automotive |
Achievements & Milestone
|
Year |
Milestones |
|
1984 |
Hero Honda Motors Limited incorporated |
|
1987 |
1 Lakh motorcycles produced |
|
1991 |
5 Lakhs motorcycles produced |
|
1992 |
Raman Munjal Vidya Mandir inaugurated |
|
1994 |
10 Lakhs motorcycle produced |
|
1997 |
2nd Manufacturing plant at Gurgaon inaugurated |
|
1999 |
Raman Munjal Memorial Hospital inaugurated Environment Management System of Dharuhera Plant certified |
|
2000 |
40 Lakhs motorcycle introduced |
|
2001 |
One million production in one single year |
|
2003 |
Splendor has emerged as the world’s largest selling model for three consecutive years Becomes first Indian company to cross the cumulative 7 million sales mark. |
|
2004 |
sales surpassed 2 million units in a single year Total sales crossed 10 million motorcycles |
|
2006 |
20 million production milestone achieved |
|
2007 |
Hero Honda became No. 1 company for the sixth consecutive year |
|
2008 |
25 million production milestone achieved. Haridwar plant inaugurated |
|
2009 |
Silver Jubilee Celebrated Hero Honda GoodLife Program Launched |
|
2011 |
Renamed as Hero MotoCorp Limited New licensing agreement between Hero and Honda were signed |
|
2012 |
Debut in the AMA Superbike Racing in US Migration of all products to Brand Hero |
|
2014 |
Neemrana Plant foundation Stone inaugurated Global Parts Center Foundation Stone inaugurated |
|
2016 |
Manufacturing Innovator Award for the year CNB Auto Expo Awards Best Executive Motorcycle Award |
|
2017 |
Commercial Production started at Gujarat and Bangladesh Branch Launch in Argentina First ever Global Product launch Indian MNC of the Year by AIMA |
|
2019 |
First global R&D center at Germany e- commerce portal for Hero Genuine Parts |
|
2020 |
Launched online sales of products |
|
2021 |
Reinvigorates operation in Nigeria 100 million cumulative production milestone Hero in partnership with Grupo Salinas in Mexico |
|
2022 |
Hero collaborates with HUL to propel emerging mobility solutions |
|
2023 |
Hero Motor Sports team rally conclude their best ever campaign at the Darkar Rally. |
Year |
Achievements |
|
2023 |
One of the best organizations for Women by The Economic Times Significant achievement in HR Excellence by the 13th CII National HR Excellence Award Confluence Best Design Award and Best EV Award, Best Scooter Award for Vida V1 at 2023 Acko Drive Awards |
|
2022 |
Coveted Company Award by Institutional Investor Magazine for the 4th consecutive year 31st National Award: Innovative Training Practices 20-21 by The Indian Society for Training & Development Best Medical and Wellness Center Category at ET Health Award Gold at IMPACT Digital Influencers Award 2022 for Best Cause Led Campaign Best ADV of the year at BBC Top Gear India Awards 2022 and many more. |
|
2021 |
Two-wheeler manufacturer of the year award by Bike India Awards One of the best organizations for Women Award by Economic Times |
Conclusion
Hero MotoCorp Limited stands as a trailblazer in the two-wheeler industry, shaping the landscape with innovation and a commitment to customer satisfaction. From its inception as Hero Honda in 1984, the company has consistently delivered cutting-edge motorcycles, securing its position as the world's largest two-wheeler manufacturer. The strategic shift to Hero MotoCorp marked a new era, marked by global expansions, groundbreaking partnerships, and a relentless pursuit of excellence. As a key player in India and beyond, Hero MotoCorp's vision, coupled with a focus on sustainable practices, propels it toward continued success in the dynamic automotive market.
Frequently Asked Questions:
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What is Hero MotoCorp?
Hero MotoCorp is the world's largest manufacturer of two-wheelers, known for producing motorcycles and scooters.
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Is Hero MotoCorp involved in electric vehicles (EVs)?
Hero MotoCorp has entered the Electric Vehicle market by introducing its subsidiary, Vida Electric Scooter, in the Electric Vehicle segment.
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Where are Hero MotoCorp's manufacturing facilities located?
Hero MotoCorp has manufacturing facilities in Dharuhera, Gurugram, Neemrana, Haridwar, Halol, and Chittoor. They also have R&D facilities in Germany and Jaipur.
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What are the key financial highlights for the recent quarters?
HERO MOTOCORP reported a Q1 FY’24 revenue of Rs. 8,767 crores with a profit growth of 51%. Additionally, in May 2023, the company declared a final dividend of Rs. 35 per share and a total dividend of Rs. 100 per share, equal to 5000%.
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Are there any collaborations or partnerships?
HERO MOTOCORP collaborated with HARLEY-DAVIDSON to co-develop the premium motorcycle 'HARLEY-DAVIDSON X440' and partnered with ZERO MOTORCYCLES for new premium electric vehicles.
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