https://en.bharatpedia.org/w/api.php?action=feedcontributions&feedformat=atom&user=2409%3A4064%3A2D86%3AC1D%3AF1B3%3A4CE0%3AAE80%3A23EFBharatpedia - User contributions [en]2026-08-13T11:37:43ZUser contributionsMediaWiki 1.43.6https://en.bharatpedia.org/w/index.php?title=Hero_MotoCorp&diff=120685Hero MotoCorp2021-07-07T12:34:01Z<p>2409:4064:2D86:C1D:F1B3:4CE0:AE80:23EF: /* See also */</p>
<hr />
<div>{{short description|Indian two-wheeler manufacturing company}}<br />
{{Use Indian English|date=October 2014}}<br />
{{Use dmy dates|date=November 2020}}<br />
{{Infobox company<br />
| name = Hero MotoCorp Limited<br />
| logo = Hero MotoCorp.svg<br />
| logo_size = 180px<br />
| former_name = <br />
| type = [[Public company|Public]]<br />
| traded_as = {{Unbulleted list|{{BSE|500182}}|{{NSE|HEROMOTOCO}}|[[NIFTY 50|NSE NIFTY 50 Constituent]]}}<br />
| ISIN = INE158A01026<br />
| industry = [[Automotive industry|Automotive]]<br />
| founded = {{Start date and age|1984|01|19|df=y}}<br />
| founder = [[Brijmohan Lall Munjal]]<br />
| location = [[New Delhi]], [[India]]<br />
| key_people = {{Unbulleted list|[[Pawan Munjal]] {{Small|([[Chairman]], [[Managing Director|MD]] & [[Chief Executive Officer|CEO]])}}<ref>{{cite web |url=https://www.heromotocorp.com/en-in/about-us/profile-of-directors.html |title=Board of Directors - Hero MotoCorp Ltd. |publisher=Hero MotoCorp |access-date=19 January 2014}}</ref>}}<br />
| products = {{ubl|[[Motorcycle]]s|[[Scooter (motorcycle)|Scooters]]}}<br />
| production = {{increase}} 7,587,130 units (2018)<br />
| revenue = {{profit}} {{INRConvert|29614|c}} (2020)<ref name=finance>{{cite web|url=https://www.heromotocorp.com/en-in/uploads/Annual_Reports/pdf/20200717171801-pdf-207.pdf|title=Hero Motocorp Profit & Loss account, Hero Motocorp Financial Statement & Accounts|publisher=Hero Motocorp Limited|access-date=20 October 2020}}</ref><br />
| operating_income = {{profit}} {{INRConvert|3958|c}} (2020)<ref name=finance/><br />
| net_income = {{profit}} {{INRConvert|3633|c}} (2020)<ref name=finance/><br />
| assets = {{profit}} {{INRConvert|18749|c}} (2020)<ref name=finance/><br />
| equity = {{profit}} {{INRConvert|14096|c}} (2020)<ref name=finance/><br />
| num_employees = 8,599 (2020)<ref name=finance/><br />
| subsid = <br />
| parent = [[Hero Motors Company]]<br />
| homepage = {{URL|https://www.heromotocorp.com/|Hero Motocorp}}<br />
}}<br />
<br />
'''Hero MotoCorp Limited''', formerly '''Hero Honda''', is an Indian [[Multinational corporation|multinational]] [[motorcycle]] and [[Scooter (motorcycle)|scooter]] [[manufacturer]] based in [[New Delhi, India]]. The company is the largest two-wheeler manufacturer in the world,<ref name=AR2012-13/> and also in India, where it has a market share of about 37.1% in the two-wheeler industry.<ref name="AR2012-13">{{cite web|url=https://www.bseindia.com/bseplus/AnnualReport/500182/5001820317.pdf|title=Annual Report 2016-17|date=3 April 2018|publisher=Hero MotoCorp}}</ref><ref>{{cite web |url =http://www.thehindubusinessline.com/companies/honda-motorcycle-overtakes-bajaj-as-2nd-largest-domestic-twowheeler-maker/article4602412.ece |title=Honda Motorcycle overtakes Bajaj as 2nd largest domestic two-wheeler maker | work=Business Line|date=10 April 2013 |access-date=15 January 2014}}</ref> As of 27 May 2021, the [[market capitalization]] of the company was {{INRConvert|59600|c|year=2020}}.<ref>{{cite web |url=https://www.businesstoday.in/markets/company-stock/hero-motocorp-share-hits-52-week-high-post-q3-earnings/story/430422.html |title=Hero MotoCorp share hits 52-week high post Q3 earnings |publisher=Business Today |access-date=5 February 2021}}</ref><br />
<br />
==History==<br />
Hero Honda started its operations in 1984 as a joint venture between [[Hero Cycles]] (sometimes called Hero Group, not to be confused with the [[Hero Group]] food company of Switzerland) of India and [[Honda]] of Japan.<ref name="milestone">{{cite web |url=https://www.heromotocorp.com/en-in/about-us/milestones.html |title=Milestones |publisher=Hero MotoCorp |access-date=15 January 2014}}<|url=https://www.wsj.com/news/articles/SB10001424052748704758904576187842700072676 |title=Honda to Sell Hero Stake at Half Market Price | work=[[The Wall Street Journal]] |date=9 March 2011 |accessdate=15 January 2014}}</ref><ref>{{cite news |url=http://articles.economictimes.indiatimes.com/2011-03-09/news/28672602_1_lathe-investment-private-limited-bc-india-private-investors-hero-honda |title=Hero gets Honda stake at big discount | work=[[The Economic Times]] | access-date=15 January 2014 |date=9 March 2011}}</ref> In June 2012, Hero MotoCorp approved a proposal to merge the investment arm of its parent Hero Investment Pvt. Ltd. with the automaker. This decision came 18 months after its split from Hero Honda.<ref>{{cite news| url=http://www.thehindu.com/business/companies/article3490461.ece | title=Investment arm to merge with Hero MotoCorp |date=5 June 2012 |newspaper=The Hindu |access-date=15 January 2014}}</ref><br />
<br />
"Hero" is the brand name used by the Munjal brothers for their flagship company, Hero Cycles Ltd. A joint venture between the Hero Group and Honda Motor Company was established in 1984 as the Hero Honda Motors Limited at [[Dharuhera]], India. Munjal family and Honda group both owned 26% stake in the Company.<br />
<br />
During the 1980s, the company introduced motorcycles that were popular in India for their fuel economy and low cost. A popular advertising campaign based on the slogan 'Fill it – Shut it – Forget it' that emphasised the motorcycle's fuel efficiency helped the company grow at a double-digit pace since inception. In 2001, the company became the second largest two-wheeler manufacturing company in India and globally.<ref name=AR2012-13/> It maintains global industry leadership to date.<ref name=AR2012-13/> The technology in the bikes of Hero Motocorp (earlier Hero Honda) for almost 26 years (1984–2010) has come from the Japanese counterpart Honda.<ref name="imaginmor1">{{cite web | title= Automobile Industry India | publisher= [[Imagin Mor Pty Ltd]] | url= http://imaginmor.com/automobileindustryindia.html | access-date= 14 September 2010 | archive-url= https://web.archive.org/web/20120317004637/http://www.imaginmor.com/automobileindustryindia.html | archive-date= 17 March 2012 | url-status= dead }}</ref><br />
<br />
===Termination of Honda joint venture and the renaming===<br />
[[File:Hero Honda Passion motorcycle.jpg|thumb|Hero Honda Passion]]<br />
[[File:Karizma R 1478.jpg|thumb|Hero Karizma R]]<br />
By December 2010, the board of directors of the Hero Honda Group had decided to terminate the joint venture between Hero Group of India and Honda of Japan in a phased manner. The Hero Group would buy out the 26% stake of the Honda in JV Hero Honda.<ref>{{cite web|url=http://www.indianexpress.com/news/Hero-to-buy-out-Honda-s-stake-in-26-year-old-JV/725937|title=Hero to buy out Honda's stake|work=The Indian Express|access-date=18 December 2010}}</ref> Under the joint venture Hero Group could not export to international markets (except [[Nepal]], Bangladesh and [[Sri Lanka]]) and the termination would mean that Hero Group could now export. From the beginning, the Hero Group relied on their Japanese partner Honda for the technology in their bikes.<ref>{{cite news| url=http://economictimes.indiatimes.com/news/news-by-industry/auto/two-wheelers/Munjal-family--Honda-Motor-to-discuss-Hero-Honda-split-today/articleshow/7108838.cms | work=The Times of India | title=Munjal family & Honda Motor to discuss Hero Honda split today | date=16 December 2010}}</ref><br />
<br />
The Japanese automaker exited the joint venture through a series of off-market transactions by giving the Munjal family—which held a 26% stake in the company—an additional 26%. Honda, wanting to focus only on its independent fully owned two-wheeler subsidiary—Honda Motorcycle and Scooter India (HMSI)—, exited Hero Honda at a discount and get over {{INRConvert|6400|c|lk=|year=2010}} for its stake. The discount was between 30% and 50% to the current value of Honda's stake as per the price of the stock after the market closed on 16 December 2010.<ref name="timesofindia.indiatimes.com">{{cite news| url=http://timesofindia.indiatimes.com/business/india-business/Hero-Honda-split-terms-finalized/articleshow/7109297.cms | work=The Times of India | title=Hero, Honda split terms finalized – The Times of India}}</ref><br />
<br />
The rising differences between the two partners gradually emerged as an irritant. Differences had been brewing for a few years before the split over a variety of issues, ranging from Honda's reluctance to fully and freely share technology with Hero (despite a 10-year technology tie-up that expired in 2014) as well as Indian partner's uneasiness over high royalty payouts to the Japanese company. Another major irritant for Honda was the refusal of Hero Honda (mainly managed by the Munjal family) to merge the company's spare parts business with Honda's new fully owned subsidiary, HMSI.<ref name="timesofindia.indiatimes.com" /><br />
<br />
As per the arrangement, it was a two-leg deal. In the first part, the Munjal family, led by Brijmohan Lal Munjal group, formed an overseas-incorporated special purpose vehicle (SPV) to buy out Honda's entire stake, which was backed by bridge loans. This SPV was eventually thrown open for private equity participation, and those in the fray included [[Warburg Pincus]], [[Kohlberg Kravis Roberts]] (KKR), [[TPG Capital|TPG]], [[Bain Capital]], and [[Carlyle Group]].<ref>{{citation|url=http://www.indiainfoline.com/Markets/News/Hero-approves-Hondas-exit-from-Hero-Honda-report/5021461137|title=Hero approves Honda's exit from Hero Honda|publisher=India Infoline news service}}</ref><br />
<br />
===Formation of the new company===<br />
<br />
The name of the company was changed from Hero Honda Motors Limited to Hero MotoCorp Limited on 29 July 2011.<ref name=AR2012-13/> The new brand identity and logo of Hero MotoCorp were developed by the British firm [[Wolff Olins]].<ref name="livemint1">{{cite web|url=http://www.livemint.com/2011/07/25191352/Hero-goes-global-to-unveil-ne.html|title=Hero goes global; to unveil new brand identity in London – Corporate News |publisher=livemint.com |date=25 July 2011 |access-date=4 August 2011}}</ref> The logo was revealed on 9 August 2011 in London, to coincide with the third [[Test cricket|test match]] between England and India.<ref name="livemint1"/><br />
<br />
Hero MotoCorp can now export to [[Latin America]], [[Africa]] and [[Western Asia|West Asia]].<ref name="livemint1"/> Hero is free to use any vendor for its components instead of just Honda-approved vendors.<ref name="livemint1"/><br />
<br />
On 21 April 2014, Hero MotoCorp announced its plan on a {{INRConvert|254|c|lk=|year=2014}} joint venture with Bangladesh's Nitol-Niloy Group in the next five years to set up a manufacturing plant in Bangladesh. The plant started production in 2017 under the name "HMCL Niloy Bangladesh Limited". Hero MotoCorp owns the 55% of the manufacturing company and rest 45% is owned by Niloy Motors (A subsidiary of [[Nitol-Niloy Group]]).<ref>{{cite web|url=http://businesstoday.intoday.in/story/hero-forms-jv-in-bangladesh-to-set-up-manufacturing-plant/1/205403.html|title=Hero MotoCorp forms JV in Bangladesh; to set up manufacturing plant|access-date=2 July 2015}}</ref> Hero also updated its 100cc engine range in 2014 for 110cc bikes except Hero Dawn.<br />
<br />
==Equity investments==<br />
<br />
In July 2013, HMC acquired 49.2%<ref>{{cite news |url=http://articles.economictimes.indiatimes.com/2013-07-01/news/40308107_1_erik-buell-racing-hmcl-hero-motocorp|title=Hero MotoCorp picks up 49.2% stake in US-based Erik Buell Racing for $25 million| newspaper=The Economic Times |date=1 July 2013 |access-date=19 January 2014}}</ref> shareholding in [[Erik Buell Racing]], a [[motorcycle sport]] company which produced street and racing motorcycles based in [[East Troy, Wisconsin]], United States. EBR filed for bankruptcy in 2015<ref>http://www.cycleworld.com/2015/04/15/erik-buell-racing-files-for-bankruptcy-protection-and-ceases-operations/</ref> and Hero MotoCorp proceed to acquire certain assets for {{INRConvert|18.2|c|lk=|year=2013}}.,<ref>http://articles.economictimes.indiatimes.com/2015-07-28/auto/64957907_1_hero-motocorp-ltd-settlement-agreement-erik-buell-racing</ref><br />
<br />
HMC invested {{INR}}205 crore (US$30.5 million) as Series B round of funding in October 2016 and gained a 32.31% stake in [[Ather Energy]], a startup company manufacturing electric scooters. It invested a further {{INR}}130 crore (US$19 million) in 2018.<ref>{{Cite web|title=Hero Motocorp Share Price, Hero Motocorp Stock Price, Hero Motocorp Ltd. Stock Price, Share Price, Live BSE/NSE, Hero Motocorp Ltd. Bids Offers. Buy/Sell Hero Motocorp Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes|url=https://www.moneycontrol.com/india/stockpricequote/auto-23-wheelers/heromotocorp/HHM|access-date=2021-05-27|website=www.moneycontrol.com|language=en}}</ref> HMC share in Ather Energy has grown up to 34.58% since 2016.<ref>{{cite news|title=Hero MotoCorp To Invest Up To ₹ 205 Crore In Ather Energy|url=http://carandbike.com/news/hero-motocorp-to-invest-rs-205-crore-in-ather-energy-1520809|publisher=NDTV Auto}}</ref><ref>{{Cite news|url=https://www.vccircle.com/hero-motocorp-to-refuel-ather-energy-with-19-mn/|title=Hero MotoCorp to refuel Ather Energy with $19 mn|date=25 July 2018|work=VCCircle|access-date=30 July 2018|language=en-US}}</ref><br />
<br />
==Operations==<br />
Hero MotoCorp has five manufacturing facilities based at [[Dharuhera]], [[Gurugram]], [[Neemrana]], [[Haridwar]], and [[Halol]] under the Green Field stage. These plants together have a production capacity of over 76 [[lakh]] (7.6 million) 2-wheelers per year.<ref>{{Cite news|url=http://economictimes.indiatimes.com/two-wheelers/hero-motocorp-plans-6th-plant-scouts-for-site-in-south-india/articleshow/36715367.cms?intenttarget=no|title=Hero MotoCorp plans 6th plant, scouts for site in South India|date=17 June 2014|work=The Economic Times|access-date=17 July 2017}}</ref> Hero MotoCorp has a sales <ref>{{cite news |title=Hero MotoCorp August sales up 7%, TVS down 1% — Bajaj Auto numbers awaited |url=https://www.businessinsider.in/business/auto/news/august-month-bikes-and-scooters-sales-number-of-hero-motocorp-bajaj-and-tvs/articleshow/77872298.cms |work=Business Insider}}</ref> and service network with over 6,000 dealerships and service points across India. It has a customer loyalty program since 2000, called the Hero Honda Passport Program which is now known as Hero GoodLife Program.<ref>{{Cite web|url=http://goodlife.heromotocorp.com/|title=Hero MotoCorp New Two Wheelers , Motorcycles, Two Wheelers in India|website=goodlife.heromotocorp.com|access-date=17 July 2017}}</ref> As of 31 March 2020 the company has annual capacity of 9.1 million units in its 8-world class manufacturing facilities. Apart from these manufacturing facilities the company also has 2 state of the art R&D facilities, in Germany & Jaipur respectively. <ref>{{Cite web|title=Annual Report, 2019-20|url=https://www.heromotocorp.com/en-in/uploads/Annual_Reports/pdf/20200717171801-pdf-207.pdf|url-status=live}}</ref> <br />
<br />
It is reported that Hero MotoCorp has five joint ventures or associate companies, Munjal Showa, AG Industries, Sunbeam Auto, [[Rockman Industries]] and Satyam Auto Components, that supply a majority of its components.<ref>{{cite news|url=http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/hero-honda-split-honda-restrategizing-its-vendor-policy/articleshow/7668358.cms |title=Hero-Honda split: Honda restrategizing its vendor policy |author=Nandini Sen Gupta |date=10 March 2011 |work=The Economic Times}}</ref><br />
<br />
As of March 2013, the company has sold over 7 crore (70 million) 2-wheelers since its inception in 1984.<ref name=AR2012-13/> It sold 60.7 lakh (6.07 million) 2-wheelers in 2012, out of which 55 lakh (5.5 million) were motorcycles. Hero MotoCorp sells more two-wheelers than the second, third and fourth-placed two-wheeler companies put together.<ref name=AR2012-13/> Its most popular bike, the [[Hero Splendor]] sells more than 10 lakh units per year.<ref>{{Cite news |title=Every Village, Every Home |periodical=Forbes | volume=183 |issue=12 |page= 80 |date=June 2008 |issn=0015-6914}}</ref><br />
<br />
The company has a stated aim of achieving revenues of {{INRConvert|64000|c|lk=|year=2016}} and volumes of 10 lakh two-wheelers by 2016–17. This in conjunction with new countries where they can now market their two-wheelers following the disengagement from Honda. Hero MotoCorp hopes to achieve 10% of its revenues from international markets, and they expected to launch sales in [[Nigeria]] by end-2011 or early-2012. Hero MotoCorp launched XPulse 200 adventure motorcycle in India on 1 May 2019, along with the XPulse 200T touring motorcycle.<br />
<br />
In 2019, Hero MotoCorp sold more than 78 lakh (7.8 million) units, which is the highest by any two-wheeler company in the world. It registered its best-ever monthly performance by selling 7,69,000 units in the month of September 2018. In the April - June 2018 quarter (non-festive time), the company registered its best-ever quarterly performance by selling more than 21 lakh (2.1 million) units.<ref>{{Cite web|last=MotorCorp|first=Hero|date=2018–19|title=Annual report|url=https://www.heromotocorp.com/en-in/uploads/Annual_Reports/pdf/20190715054601pdf266.pdf}}</ref><br />
<br />
In February 2021, Hero MotoCorp sold 484,405 units with 0.9 percent growth.<ref>{{cite news |last1=M |first1=Surendhar |title=Hero MotoCorp Feb 2021 Sales Analysis - Splendor, Xpulse, Passion, Xtreme |url=https://gaadiwaadi.com/hero-motocorp-feb-2021-sales-analysis-splendor-xpulse-passion-xtreme/ |work=Gaadiwaadi.com |date=29 March 2021}}</ref><br />
<br />
Hero MotoCorp has launched an online virtual showroom. The virtual showroom would enable customers to discover, engage and purchase the company’s motorcycles and scooters digitally.<ref>{{cite news |last1=Sharma |first1=Swati |title=Hero MotoCorp Launches Virtual Showroom To Sell Vehicles |url=https://www.motorgyan.com/hero-motocorp-launches-virtual-showroom-to-sell-vehicles/ |work=motorgyan.com |date=13 May 2021}}</ref><br />
<br />
==Listings and shareholding==<br />
The equity shares of Hero MotoCorp are listed on the [[Bombay Stock Exchange]],<ref>{{cite web |url=http://www.bseindia.com/stock-share-price/hero-motocorp-ltd/hero-motocorp/500182/ |title=Hero MotoCorp Ltd. |publisher=BSEindia.com |access-date=23 January 2014}}</ref> and the [[National Stock Exchange of India]],<ref>{{cite web |url=http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=HEROMOTOCO |title=Hero MotoCorp Limited |publisher=NSE India |access-date=23 January 2014}}</ref> where it is a constituent of the [[NIFTY 50]].<ref>{{cite web |url=http://www.nseindia.com/content/indices/ind_niftylist.csv |title=Download List of CNX Nifty stocks (.csv) |publisher=NSE India |access-date=23 January 2014}}</ref><br />
<br />
As on 31 December 2013, the promoters Munjal Family held around 40% equity shares in Hero MotoCorp. Over 61,000 individual shareholders hold approx. 7.44% of its shares.<ref name="Shareholding">{{cite web|title=Shareholding Pattern - March 2020|url=https://www.heromotocorp.com/en-in/shareholding-pattern-charts.html|url-status=live|access-date=27 May 2021|publisher=Hero Motor Corp}}</ref> Foreign Institutional Investors hold approx. 30% shares in the company.<ref name=Shareholding/><br />
<br />
{| class="wikitable"<br />
|-<br />
! Shareholders (as on 31 March 2020) !! Shareholding<ref name=Shareholding/><br />
|-<br />
| Promoter Group||34.60%<br />
|-<br />
| Foreign Institutional Investors (FII)||34.3%<br />
|-<br />
| Non Resident Indians (NRIs)||0.4%<br />
|-<br />
| Indian Public ||8.30%<br />
|-<br />
| Insurance companies||8.30%<br />
|-<br />
| Mutual Funds / UTI||8.20%<br />
|-<br />
| Bodies Corporate||1.40%<br />
|-<br />
| Financial Institutions / Banks||2.00%<br />
|-<br />
| Others||2.50%<br />
|-<br />
| Total||100.0%<br />
|}<br />
<br />
==Employees==<br />
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. The company had an attrition rate of 5.1% in the FY 2012–13.<ref name=AR2012-13/> The company spent {{INRConvert|8210|c|lk=|year=2012}} on employee benefits during the FY 2012–13.<ref name=AR2012-13/><br />
<br />
==Awards and recognition==<br />
* The 2006 Forbes list of the 200 World's Most Respected Companies had Hero Honda Motors ranked at #108.<ref>{{cite news |title=The World's Most Reputable Companies |url=https://www.forbes.com/2006/11/20/leadership-companies-reputation-lead-managing-cx_hc_1120rep_list.html |date=21 November 2006|access-date=15 January 2014 |work=Forbes}}</ref><br />
* [[The Brand Trust Report]] published by Trust Research Advisory has ranked Hero Honda in the 7th position among the most trusted brands in India.<ref>{{Cite web|url=http://www.trustadvisory.info/allindia_2014.html |title=India's Most Trusted Brands 2014 |url-status=dead |archive-url=https://web.archive.org/web/20150502221904/http://www.trustadvisory.info/allindia_2014.html |archive-date=2 May 2015 }}</ref><br />
* It received the 'Best Value for Money Bike Maker' and 'Best Advertising' in Two Wheelers Category at the Auto India Best Brand Awards 2012.<br />
<br />
==Initiatives==<br />
The company started Raman Kant Munjal Foundation (RKMF), in 1992 when it was known as Hero Honda Motors Ltd., that looks after:<br />
* [[Raman Munjal Vidya Mandir]] (Educational Institution)<br />
* BML Munjal University<br />
<br />
During the financial year, the company spent ₹1.4 crores on [[corporate social responsibility]].<br />
<br />
==Sponsorship==<br />
Hero has been the sponsor of the [[Caribbean Premier League]], a Twenty-20 Cricket Franchise, since 2018. Hero also sponsors India's top men's [[association football|football]] league the [[Indian Super League]], men's second-tier [[I-League]], third-tier [[I-League 2nd Division]], women's top-tier [[Indian Women's League]] and also the domestic football tournament [[Super Cup (India)|Super Cup]]. They are also the principal sponsors of the [[India national football team|Indian football team]]'s training kit and the developmental team [[Indian Arrows]]. Since 2014, Hero has sponsored the [[Hero World Challenge]] golf tournament. Hero also sponsors, or partly sponsors, two British events on the Golf European Tour: English Open (known as the Hero Open) and the Betfred British Masters.<br />
<br />
==See also ==<br />
* [[Zero FinCort]]<br />
* [[Ather Energy]]<br />
* [[Bajaj Auto]]<br />
* [[TVS Motor Company]]<br />
* [[List of companies of India]]<br />
{{Portalbar|Companies}}<br />
<br />
==References==<br />
<!-- this 'empty' section displays references defined elsewhere --><br />
{{Reflist|2}}<br />
<br />
==External links==<br />
*{{Official website}}<br />
<br />
{{Motorcycles}}<br />
{{Two wheelers in India}}<br />
{{Nifty 200 companies}}<br />
{{Automotive industry in India}}<br />
<br />
[[Category:Vehicle manufacturing companies established in 1984]]<br />
[[Category:Companies based in New Delhi]]<br />
[[Category:Manufacturing companies based in Delhi]]<br />
[[Category:Companies listed on the Bombay Stock Exchange]]<br />
[[Category:Motorcycle manufacturers of India]]<br />
[[Category:Indian brands]]<br />
[[Category:NIFTY 50]]<br />
[[Category:Indian companies established in 1984]]<br />
[[Category:Electric vehicle manufacturers of India]]<br />
[[Category:Hero Group]]<br />
[[Category:1984 establishments in Delhi]]</div>2409:4064:2D86:C1D:F1B3:4CE0:AE80:23EF