Hero MotoCorp Ltd: Chairman and Subsidiaries

Hero MotoCorp Ltd (HMCL) is the world’s largest manufacturer of motorcycles and scooters, a position it has held for the past 20 consecutive years. With presence in over 40 countries across the globe, the Company’s vision is to ‘Be the Future of Mobility’
and through its R&D, manufacturing, products, services and sustainable approach, it strives to set benchmarks of excellence in the industry.

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Hero MotoCorp achieved the momentous milestone of 100 million cumulative production and sales in January 2021. During the year the Company increased its overall domestic market share and also increased its share in the premenium motorcycle and scooter segments.

Profile of Hero MotoCorp Ltd

Hero MotoCorp Limited is in the business of development, manufacturing, marketing, sale and distribution of two-wheelers and its parts since 1984. The shares of the Company
are listed on two stock exchanges in India i.e. National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Hero MotoCorp is the dominant market leader in India – the world’s largest two-wheeler market – with over 50% share in the domestic motorcycle market. The company has presence to 40 countries across Asia, Africa, and South & Central America. Hero MotoCorp is a truly global enterprise with a workforce that comprises of people from different nationalities including India, Bangladesh, Colombia, Germany, Austria, Japan and France.

  • Corporate Identity Number (CIN): L35911DL1984PLC017354
  • Name: Hero MotoCorp Limited
  • Registered Address: The Grand Plaza, Plot No. 2 Nelson Mandela Road, Vasant Kunj, Phase-II, New Delhi – 110070
  • Website: www.heromotocorp.com
  • E-mail Id: secretarialho@heromotocorp.com
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The Company is engaged in the manufacturing and selling of motorised two-wheelers, spare parts and related services. The Company is a leading two wheeler manufacturer and has a dominant presence in domestic market.

Hero MotoCorp Ltd Financials
Hero MotoCorp Ltd Financials
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Hero MotoCorp currently has an annual combined production capacity of around 9 million units of two-wheelers. The Company is Headquartered in New Delhi, and have manufacturing plants in 6 locations in the country:

  • Haryana : Dharuhera & Gurgaon
  • Uttarakhand : Haridwar
  • Rajasthan : Neemrana
  • Gujarat : Halol
  • Andhra Pradesh : Chittoor

The Company also has a Global Parts Centre at Neemrana, Rajasthan, for supplying the
parts at local and global market and Global Centre of Innovation and Technology (CIT)
at Jaipur, Rajasthan

The Company is present in 44 countries outside India:

Asia – Bangladesh, Myanmar, Nepal and Sri Lanka. Europe – Austria, Germany

Africa & Middle East – Angola, Burkina Faso, DR Congo, Ethiopia, Ghana, Guinea,
Ivory Coast, Kenya, Liberia, Madagascar, Mozambique, Nigeria, South Africa, Tanzania,
Uganda, Egypt, Iran, Turkey, Zambia, Djibouti, Mauritius, Iraq & GCC (UAE, Saudi Arabia,
Kuwait, Bahrain, Yemen)

Americas – Argentina, Bolivia, Colombia, Costa Rica, Dominican Republic, Ecuador,
El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru, Guyana and
Trinidad & Tobago.

The Company’s strategy is to build a robust product portfolio of mobility solutions across categories, explore growth opportunities in both domestic market and globally, aggressively expand reach to customers and ensure customer satisfaction.

Here is the top shareholdings pattern of Hero MotoCorp Limited

  • FPIs/ FIIs/ Foreign Nationals : 37.19 %
  • Promoters & Promoter Group : 34.76 %
  • Indian Public : 11.80 %
  • Insurance Companies : 8.55 %
  • Mutual Funds / AIF : 4.73 %

Dr. Pawan Munjal Chairman and CEO

Dr. Pawan Munjal is one of India’s renowned corporate leaders, championing growth,
socio-economic progress, and technological innovations. He is the Chairman & CEO of
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters. With
his leadership, Hero MotoCorp achieved the coveted title of World’s No. 1 two-wheeler
company in 2001 and has successfully retained this position to date – for 20 consecutive

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Dr. Pawan Munjal Chairman and CEO
Dr. Pawan Munjal Chairman and CEO

Dr. Munjal sits on the Boards of various companies in addition to holding executive positions at key Indian industry bodies – Confederation of Indian Industry (CII) and Society of Indian Automobile Manufacturers (SIAM).

Subsidiary Companies of Hero MotoCorp

The Company has 6 subsidiaries including step down subsidiaries and 2 associate companies.

Hero Tech Center Germany GmbH (‘HTCG’)

HTCG is a wholly owned subsidiary of your Company, incorporated in Germany to undertake research and development and such other ancillary activities for the manufacture, testing, validating etc. of two-wheelers and components / parts thereof. It also undertakes, coordinates and facilitates two-wheeler rally participation and development activities. During FY 2020-21, HTCG has reported unadjusted revenue of H 79.90 crore and a net profit of H 4.24 crore.

HMCL Netherlands B.V. (‘HNBV’)

HNBV is a wholly owned subsidiary of your Company, incorporated in Amsterdam as a private company with limited liability under the laws of The Netherlands with the primary objective of promoting overseas investments. HNBV has invested in operating companies
in Colombia and Bangladesh and during FY 2020-21, it has reported unadjusted revenue of H 22.47 crore and a net profit of H 21.44 crore.

HMCL Colombia S.A.S. (‘HMCLC’)

HMCLC was incorporated in Colombia as a joint venture between HNBV and Woven Holdings LLC as a simplified stock corporation company. HNBV currently holds 68% equity in HMCLC and 32% equity is held by Woven Holdings LLC. The main business of HMCLC is to manufacture and sell two-wheelers in Colombia. It has a manufacturing facility with a production capacity of 80,000 units per annum. During the year ended March 31, 2021, the Company has reported unadjusted revenue of H 230.65 crore and a net loss of H 7.26 crore.

HMCL Niloy Bangladesh Limited (‘HNBL’)

HNBL was incorporated in Bangladesh as a joint venture between HNBV and Niloy Motors Limited, Bangladesh as a limited liability company. HNBV currently holds 55% equity in HNBL and 45% equity is held by Nitol Niloy Group, Bangladesh. The main business
of HNBL is to manufacture and sell two-wheelers. It has a manufacturing facility with a production capacity of 1,50,000 units per annum. During FY 2020-21, HNBL reported unadjusted revenue of H 502.72 crore and a net profit of H 40.76 crore.

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HMCL Americas Inc. (‘HMCLA’)

HMCLA is a wholly owned subsidiary of Company, incorporated as a Corporation pursuant to the General Corporation Law of the State of Delaware, United States of America with the primary objective to pursue various global businesses. During the year ended March 31, 2021, HMCLA has reported unadjusted revenue of H 0.11 crore and a net loss of H 0.03 crore.

HMC MM Auto Limited (‘HMCMMA’)

The Company has a joint venture with Marelli Europe S.p.A, Italy, namely HMC MM Auto Limited in India, which is set up for the purpose of carrying out manufacturing, assembly, sale and distribution of two-wheeler fuel injection systems and parts. The Company holds 60% of the equity share capital in HMCMMA. During FY 2020-21, HMCMMA has reported unadjusted revenue of H 458.46 crore and a net profit of H 4.77 crore. Associate Companies

Hero FinCorp Limited (‘HFCL’)

HFCL is an associate of your Company, incorporated in the year 1991 and holds 41.19% in the equity share capital of HFCL.

HFCL is a non-banking finance company engaged in providing financial services, including two-wheeler financing and providing credit to Company’s vendors and suppliers. Over the years, it has added several new products and customers in its portfolio, like SME and commercial loans, loan against property etc. During FY 2020-21, HFCL’s profit attributable to the Company is H 22.90 crore.

Ather Energy Private Limited (‘AEL’)

AEL is a private limited company, focused on developing, designing and selling premium electric two-wheelers. The shareholding of Company in AEL is 38.08% which is equivalent to 34.81% on a fully diluted basis. During FY 2020-21, AEL’s loss attributable to the Company is H 69.46 crore.