Hero MotoCorp Ltd - Stock Valuation and Financial Performance

BSE: 500182 | NSE: HEROMOTOCO | Automobile Two & Three Wheelers | Large Cap

Hero MotoCorp Share Price

3,853.50 -56.50 -1.45%
as on 21-Feb'25 16:59

DeciZen - make an informed investing decision on Hero MotoCorp

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Hero MotoCorp stock performance -

P/E Ratio (SA):
16.96
Market Cap:
77,074.2 Cr.
52-wk low:
3,758.9
52-wk high:
6,245

Is Hero MotoCorp Ltd an attractive stock to invest in?

1. Is Hero MotoCorp Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Hero MotoCorp Ltd is a good quality company.

2. Is Hero MotoCorp Ltd undervalued or overvalued?

The key valuation ratios of Hero MotoCorp Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Hero MotoCorp Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Hero MotoCorp Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Hero MotoCorp:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Hero MotoCorp Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 53.8%57.8%49.2%48%40.8%34.1%26.7%21.2%24%30.4%-
Value Creation
Index
3.84.13.43.32.62.01.40.91.11.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 27,58528,44328,50032,23033,65128,83630,80129,24533,80637,45640,337
Sales YoY Gr.-3.1%0.2%13.1%4.4%-14.3%6.8%-5.1%15.6%10.8%-
Adj EPS 108.4151.5164.4177.9164.4152.1142.9119.5142.4199.7227.2
YoY Gr.-39.8%8.5%8.2%-7.6%-7.5%-6%-16.4%19.2%40.3%-
BVPS (₹) 327.5442.3506.1589643.2706.9759.7788.7834.1897.51,036.4
Adj Net
Profit
2,1643,0253,2843,5523,2843,0372,8562,3882,8463,9934,545
Cash Flow from Ops. 2,2503,8494,0283,9819795,4104,1732,0202,5794,907-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 3.5%2.2%6.7%10.8%
Adj EPS 7%4%11.8%40.3%
BVPS11.9%6.9%5.7%7.6%
Share Price 3.8% 11.5% 13% -14.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
35.739.434.732.526.722.519.515.417.52323.5
Op. Profit
Mgn %
12.915.716.116.214.313.112.811.211.513.614.4
Net Profit
Mgn %
7.910.611.5119.810.59.38.28.410.711.3
Debt to
Equity
0000000000-
Working Cap
Days
3948565873836369646453
Cash Conv.
Cycle
-15-17-22-20-9-5-18-23-15-2020

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 23.50%

Net Profit is growing at healthy rate in last 3 years 11.80%

Sales growth is good in last 4 quarters at 11.52%

Sales growth has been subdued in last 3 years 6.74%

Latest Financials - Hero MotoCorp Ltd.

Standalone Consolidated
TTM EPS (₹) 227.2 207.6
TTM Sales (₹ Cr.) 40,337 40,570
BVPS (₹.) 1,036.4 1,010.5
Reserves (₹ Cr.) 20,689 20,171
P/BV 3.72 3.81
PE 16.96 18.56
From the Market
52 Week Low / High (₹) 3758.85 / 6245.00
All Time Low / High (₹) 18.00 / 6245.00
Market Cap (₹ Cr.) 77,074
Equity (₹ Cr.) 40
Face Value (₹) 2
Industry PE 29.5

Quarterly Results

 Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %Dec'24 YoY Gr. Rt. %
Sales (₹ Cr.) 9,519 14.610,144 15.710,463 10.810,211 5
Adj EPS (₹) 50.8 18.356.2 19.860.2 14.160.1 12
Op. Profit Mgn % 14.28 124 bps14.39 63 bps14.49 43 bps14.46 45 bps
Net Profit Mgn % 10.67 33 bps11.07 39 bps11.50 34 bps11.78 74 bps

Management X-Ray of Hero MotoCorp:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:34.74%Institutions:55.68%Non-Institutions:9.58%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%10%20%30%40%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Hero MotoCorp

MRP
spaceLock icon
MOS
spaceLock icon%
DP
spaceLock icon
Base EPS
spaceLock icon
DPS
spaceLock icon
MRP: ₹ 0
DP: ₹0
Base EPS ₹:
DPS ₹:
MOS (%):
Expected EPS Growth Rate:
0%
Base 0%
50%
Expected Rate of Return:
0%
Base 0%
50%
Future PE:
0
Base 0
200
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max

Event Update

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Analyst's Notes

Hero Motocorp: Q2 FY24 Result Update - 06 Nov 2023

Particulars

Q2FY24 (Rs. Crs)

YoY Trend

Comments

Revenue

9,533

+4%

Growth backed by festive season & pick-up in rural demand 
EBITDA

1,360

+28%

Improvement in margin due to operating leverage.
EBITDA Margin

14%

+ 270 bps

 
PAT

1,007

+47%

Aided by higher Other income

Stable results. Management expects the 2 Wheeler industry to post double-digit volume growth in this festive.

Hero MotoCorp: Q1FY24 Result Update - 12 Aug 2023

Particulars

Q1FY24

YoY Trend

Comments

Revenue

8,851

+5%

 

EBITDA

1,117

+21%

Driven by softening of commodity costs

EBITDA Margin

13%

+200 bps

EBITDA margin for internal combustion engine business was at 14.5%, excluding the impact of EV business

PAT

701

+39%

 

Steady results.

 

Hero Moto Corp: Quarterly Result update - 25 Nov 2021

Hero Moto | Market Cap 52,370 Cr

P/E 15x Normalized profit

Results: Hero Moto Corp reported 10% decline in sales and 21% decline in volumes. Higher realization and higher share of spare parts helped to arrest decline in operating profit by 17% year on year.

Key highlights

  • Hero’s growth rate was subdued due to delayed monsoon, high base.
  • Hero’s gross margins declined by 1.2% over previous year due to commodity price inflation.
  • Hero took price hikes of Rs. 1200 in Jul’21 and again in Sep’21. Even this price rise dented performance as Hero operates in price sensitive segment of motorcycles.
  • Exports is now 5% of Hero total volumes and growing at fast pace.

Outlook:

  • Premium products now form 6% of total volumes while they will increase to 10% in next 2 quarters.
  • Hero has laid out capex plan of Rs. 1,000 Cr over next 5 years into premium motorcycle, EV and exports.

 

Hero Moto: Quarterly Result update - 07 Feb 2020

Results: Hero MotoCorp reports year on year decline in sales by 11% due to 15% fall in volumes. The operating profit however, increased by 27% year on year.

Key highlights during the quarter:-

  • The overall sluggishness in auto industry has still continued leading to decline in volumes. However, better realisations and control over costs led to lesser fall in absolute sales and operating margins respectively. Scooter volumes have declined as the company stopped production in December.
  • Operating margin stood at 14.8% (versus 14% in 3QFY19) driven by lower raw material cost and controlled staff cost. This was also because of higher share of spare parts in the sales as it is a high margin business.
  • Spare part revenue is improving as the company is deepening its distribution system with micro-distributers. Credit period for spare parts ~30 days (versus 15 days for vehicles).
  • Ex CTO Markus Braunsperger departed from the company as his 5 year contract has expired and replaced by Vikram Kasbekar.
  • Dealers are holding inventories of more than for 5 weeks forward (most of it is BS IV). Company will not increase discounts on BSIV variants.

Outlook: Hero MotoCorp is an OEM with majority of customer base coming from rural regions. 

The company is facing stress due to slowdown in the auto industry as well as stress in rural income. However, good rabi season and various measures announced by the government, the company is expecting recovery in rural demand. The management announced that BSIV production will be stopped by mid of February. We believe the negatives of Hero Moto Corp are already in the price. 

Hero Moto Corp: Quarterly Result Update - 24 Oct 2019

Results: Hero MotoCorp reports year on year decline in sales by 17% due to 20% fall in volumes. The operating profit fell by just 7% year on year.

Key highlights during the quarter:-

  • After overall sluggishness in auto industry, the demand has picked up in the festive season especially from the second-half of Sept. Although we need to see sustainability over 2 quarters as new technology higher priced BSVI will roll out from 1st April’20 .
  • During the quarter, the company took two rounds of price increases, in July and September.

Outlook: Hero MotoCorp is an OEM with majority of customer base coming from rural regions. The company is facing stress due to slowdown in the auto industry as well as stress in rural income. However, company expects that healthy monsoon may stage a recovery in rural segments in next 1-2 quarters. Also, BSVI pre-buy will continue to support retail sales and aid a smoother transition to a BSVI portfolio. Current valuation already reflect lot of negatives, albeit timeline to realize upside is uncertain.

 

We have given a BUY on Hero MotoCorp. The company is into downcycle and we have bought it at reasonably cheap price that will ensure more than or equal to 15% CAGR once the cycle reverses.

Hero Moto: Negatives are priced in - 30 Apr 2019

Hero Moto’s sales fell 8% year on year (YoY) and operating profit fell 22% YoY. Stock price has already fallen to more than account for drop in operating profit.

The management has highlight focus on new launches to contain downside in volumes. We believe recent new models can gain volumes thanks to distribution channel network. Alongside industry, Hero Moto is also trying to move in premium motorcycles where margins are better and demand is growing. Commuter segment will remain sensitive to prices and interest rate as it caters to low income class in rural areas.

We believe that market is extrapolating near term situation far into future. There are obvious concerns on near term volumes due to i) low NBFC financing (In house Hero Finance lends 20-25% of total volumes) ii) Hike in prices due to insurance iii) Discounting done by Bajaj Auto.

Even after all these negatives we see upside potential 15% CAGR over 2-3 years including dividend yield (likely to go upto 5% including buyback).

Assuming 15% EBITDA margins and annual maintenance capex of Rs 300-500 Cr, the stock trades at 14x P/E ratio.

If growth rates remain mid-high single digits, 70% of cash flow is likely to be paid out as return on investment is 30-35%. This will amount to 4-5% dividend yield in future. It is a cash surplus company, with cash of Rs. 300/share. Also, it doesn’t require large investment in plant and machinery. For now it appears that downside is very limited from current prices. However, upside risk will depend on how volumes grow over time. Our MRP reflects long term volume growth rate of 8% CAGR.

Key Ratios of Hero MotoCorp

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
Bajaj Auto 8,504.6 -124.1 (-1.4%) Large Cap 44,870 269.8 17.2 32 7.3
Hero MotoCorp 3,853.5 -56.5 (-1.5%) Large Cap 37,456 227.2 10.7 17.2 3.8
TVS Motor 2,324.9 -94.9 (-3.9%) Large Cap 31,776 49.3 6.3 49.1 12.1
Eicher Motors 4,960 70.5 (1.4%) Large Cap 16,536 162.1 24.2 30.2 6.7

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales27,58528,44328,50032,23033,65128,83630,80129,24533,80637,456
Operating Expenses 24,05824,00523,91527,02828,84725,05926,87825,97929,94432,358
Manufacturing Costs6737167977808628387217598751,029
Material Costs19,75319,31419,02821,83323,30919,68321,75020,80523,84025,382
Employee Cost 1,1051,2251,2791,3871,5321,6361,6871,7111,9052,087
Other Costs 2,5272,7502,8103,0283,1452,9032,7202,7053,3243,860
Operating Profit 3,5274,4384,5865,2034,8043,7773,9223,2673,8625,097
Operating Profit Margin (%) 12.8%15.6%16.1%16.1%14.3%13.1%12.7%11.2%11.4%13.6%
Other Income 493422522526691778580557565893
Interest 1156692222262019
Depreciation 525420444478476637580548533553
Exceptional Items -1550000677000-160
Profit Before Tax 3,3294,4354,6585,2445,0114,5743,9003,2503,8755,258
Tax 9431,2751,2811,5471,6269409367779641,290
Profit After Tax 2,3863,1603,3773,6973,3853,6332,9642,4732,9113,968
PAT Margin (%) 8.6%11.1%11.8%11.5%10.1%12.6%9.6%8.5%8.6%10.6%
Adjusted EPS (₹)119.5158.3169.1185.2169.5181.9148.4123.8145.6198.5
Dividend Payout Ratio (%)50%46%50%51%51%49%71%77%69%71%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 6,5418,83310,10711,76212,84814,12115,17915,75816,66917,941
Share Capital 40404040404040404040
Reserves 6,5018,79310,06711,72212,80814,08115,13915,71916,62917,901
Minority Interest0000000000
Debt0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Trade Payables2,7002,6513,2473,3193,3553,0315,2054,2604,7045,528
Others Liabilities 1,2072,0502,4223,1053,0302,6712,6952,4912,8283,356
Total Liabilities 10,44813,53415,77618,18619,23319,82323,07922,51024,20226,825

Fixed Assets

Gross Block8,1149,12610,37711,13411,62813,86514,32414,66615,19415,786
Accumulated Depreciation5,2015,5425,9826,4807,0107,7488,3368,8599,4339,952
Net Fixed Assets2,9133,5844,3964,6554,6196,1175,9885,8065,7615,834
CWIP 711605465318542341437458464481
Investments 3,1544,5815,8907,5255,9698,22310,50010,65211,01013,086
Inventories8156736568241,0721,0921,4701,1231,4341,444
Trade Receivables1,3901,2831,5621,5202,8221,6032,4272,3042,7982,703
Cash Equivalents 159131137141136242257175346609
Others Assets1,3062,6772,6713,2034,0732,2052,0011,9912,3892,668
Total Assets 10,44813,53415,77618,18619,23319,82323,07922,51024,20226,825

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 2,2503,8494,0283,9819795,4104,1732,0202,5794,907
PBT 3,3294,4354,6585,2445,0114,5743,9003,2503,8755,258
Adjustment 25814015771-61178178221137-112
Changes in Working Capital -337377399160-191912031070-682-5831075
Tax Paid -1,000-1,103-1,186-1,494-2,051-544-976-769-850-1,314
Cash Flow From Investing Activity 12-2,206-1,944-1,9151,321-2,883-2,210-152-469-1,802
Capex -1,153-1,460-1,149-799-918-1,359-510-524-568-710
Net Investments 1,186-852-934-1,2711,929-1,861-1,814171-158-1,410
Others -21106139155310337115201256318
Cash Flow From Financing Activity -2,231-1,687-2,096-2,047-2,294-2,420-1,941-1,939-2,041-2,733
Net Proceeds from Shares 01132085310
Net Proceeds from Borrowing 0000000000
Interest Paid -11-5-6-6-9-22-22-26-20-19
Dividend Paid -1,897-1,398-1,737-1,698-1,897-1,937-1,898-1,898-1,998-2,699
Others -322-285-354-346-390-460-30-20-26-26
Net Cash Flow 32-44-1219610721-7170372
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)39.341.1135.6633.8127.5126.9420.2315.9917.9522.93
ROCE (%)53.7657.7549.2447.9940.7634.0526.7421.1523.9730.42
Asset Turnover Ratio2.872.562.111.941.81.441.461.31.481.49
PAT to CFO Conversion(x)0.941.221.191.080.291.491.410.820.891.24
Working Capital Days
Receivable Days14161717242924292726
Inventory Days9988101415161414
Payable Days46515755525969836974

Hero MotoCorp Ltd Stock News

Hero MotoCorp Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Hero MotoCorp on 21-Feb-2025 16:59 is ₹3,853.5.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Feb-2025 16:59 the market cap of Hero MotoCorp stood at ₹77,074.2.
The latest P/E ratio of Hero MotoCorp as of 21-Feb-2025 16:59 is 16.96.
The latest P/B ratio of Hero MotoCorp as of 21-Feb-2025 16:59 is 3.72.
The 52-week high of Hero MotoCorp is ₹6,245 and the 52-week low is ₹3,758.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hero MotoCorp is ₹40,337 ( Cr.) .

About Hero MotoCorp Ltd

Hero MotoCorp Ltd. is the world’s largest manufacturer of motorcycles and scooters. With innovation at the core of its philosophy, the New Delhi (India) headquartered Hero MotoCorp has been at the forefront of designing and developing technologically advanced motorcycles and scooters for customers around the world. It became the world’s largest two-wheeler manufacturer in 2001, in terms of unit volume sales in a calendar year, and has maintained the coveted title for the past many years. 

It has taken rapid strides to expand its presence to many countries across Asia, Africa, and South & Central America. It is a truly global enterprise with a workforce that comprises of people from different nationalities including India, Bangladesh, Colombia, Germany, Austria, Japan, and France. It is the dominant market leader in India. The story of company can be traced back to the vision of a mobile and empowered India, powered by its two wheelers. Currently, the company has made it its mission to become the best two wheeler company, not only in India but globally by setting benchmarks in style, performance and technology.

Business area of the company

Hero MotoCorp is manufacturer of motorcycles and scooters. It is India's leading two wheeler company, which has been providing customers with an excellent range of two wheelers that ensure both style and comfort.

Products

  • Xtreme 160R BS6
  • Xpulse 200 BS6
  • Passion Pro BS6
  • Splendor iSmart BS6
  • Splendor+ BS6
  • Glamour BS6
  • HF Deluxe BS6
  • Super Splendor BS6
  • Destini 125 BS6
  • Maestro Edge 125 BS6
  • Maestro Edge 110 BS6
  • Pleasure+ BS6
  • Xpulse 200T
  • Xtreme 200S

Awards and Recognition

2004

  • Winner of the Review 200 - Asia's Leading Companies Award (3rd Rank amongst the top 10 Indian companies).
  • ICSI National Award for Excellence in Corporate Governance 2004 by the Institute of Company Secretaries of India.

2005

  • Awaaz Consumer Awards 2005 Bike Maker of the Year Award by Overdrive Magazine.

2006

  • Corporate Social Responsibility Award.
  • Top Indian company in the Automobile - Two Wheeler sector by Dun & Bradstreet - American Express Corporate Awards 2006.
  • Hero Honda Splendor rated as India's most preferred two-wheeler brand at the Awaaz Consumer Awards 2006.
  • NDTV Profit Car India & Bike India Awards 2006.

2007

  • The NDTV Profit Car India & Bike India Awards 2007. 

2008

  • NDTV Profit Business Leadership Award 2008.
  • TopGear Design Awards 2008.
  • NDTV Profit Car India & Bike India Awards.
  • IndiaTimes Mindscape and Savile Row (A Forbes Group Venture) Loyalty Awards.
  • Asian Retail Congress Award for Retail Excellence (Strategies and Solutions of business innovation and transformation).
  • NDTV Profit Car India & Bike India Awards.
  • TNS Voice of the Customer Awards.

2009

  • 'Two-wheeler Manufacturer of the Year' by NDTV Profit Car & Bike Awards 2009 and Passion Pro adjudged as CNB Viewers' Choice two-wheeler.
  • Top Indian Company under the 'Automobile - Two-wheelers' sector bythe Dun & Bradstreet-Rolta Corporate Awards.
  • Won Gold in the Reader's Digest Trusted Brand 2009 in the 'Motorcycles' category.
  • NDTV Profit Business Leadership Awards 2009 - two-wheeler category.

2010

  • Rated as Top Indian Company in Automobile - Two Wheelers sector by Dun & Bradstreet - Rolta Corporate Awards 2009.
  • Most Preferred Brand of Two-Wheelers' award at the CNBC Awaaz Consumer Awards.
  • Adjudged at top of the two-wheeler category in the Brand Equity Most Trusted Brands 2010 Survey.
  • Ranked No. 3 Most Trusted Brand across categories amongst Young Adult Males.
  • Company of the Year awarded by Economic Times Awards for Corporate Excellence 2008-09.
  • CNBC TV18 Overdrive Awards 2010 'Hall of Fame' to Splendor.
  • NDTV Profit Car & Bike Awards 2010 - Two-wheeler Manufacturer of the Year, CnB Viewers' Choice Two-wheeler of the Year (Karizma ZMR) and Bike Maker of the Year by ET-ZigWheels Car & Bike of the Year Awards 2009'.

2011

  • Two-wheeler Manufacturer of the Year award by Bike India magazine.
  • Adjudged the 'Bike Manufacturer of the Year' at the Economic Times ZigWheels Car and Bike Awards.

2012

  • Business Leader in Automobiles (two-wheelers) at the NDTV Profit Business Leadership Awards 2012 (Conferred upon Mr. Pawan Munjal).
  • Best value for Money Bike Maker and Best Advertising in Two Wheelers Category at the Auto India Best Brand Awards 2012.
  • Digital Advertiser of the year at the Indian Digital Media Awards (IDMA) 2012.
  • Three awards (Launch Event of the year, Rural Engagement Progamme and Live Patron Award for Marketing Excellence) at the WOW Awards organised by EventFAQsAdvertiser of the year 2012 by Indian Digital Media Awards 2012.
  • Innovation in Loyalty Marketing Award (Initiative: Hero GoodLife Utsav) by Colloquy Loyalty Awards.
  • TPM Excellence Award 2012 by JIPM (Japan Institute of Plant Maintenance).

2013

  • Green Pioneer Award - 2013.
  • Business Leader of the Year' Award by Hon'ble President of India, Shri. Pranab Mukherjee, at the AIMA Managing India Awards 2013 on April 11, 2013 (Conferred on Mr. Pawan Munjal).
  • Business Leader of the Year' Award in the Auto (Two Wheelers) category by Deputy Chairman of the Planning Commission Mr. Montek Singh Ahluwalia, at the NDTV Business Leadership Awards 2013 (Conferred on Mr. Pawan Munjal).
  • CFO of the year Award (Conferred on Mr. Ravi Sud).

2016

  • Hero Motocorp receives TIME India Awards - Manufacturing Innovator of the Year Award.

2020

  • XPulse 200 awarded Indian Motorcycle of the Year 2020 by media houses and also awarded Tourer Bike (upto 250cc) of the Year 2020 by Flywheel Auto Awards.
  • XPulse 200 was also awarded Bike of the Year (upto 200cc) and two-wheeler of the year by Car and Bike India.
  • Maestro Edge 125 FI was chosen as Scooter of the Year 2020 by Autocar and by Car and Bike India.
  • National Award for Excellent Energy Efficient Unit by CII to Gurgaon Plant.

Milestones

1983

  • Joint Collaboration Agreement with Honda Motor Co. Ltd. Japan signed
  • Shareholders Agreement signed

1984

  • Hero Honda Motors Ltd. Incorporated

1985

  • First motorcycle 'CD 100' rolled out

1987

  • 100,000th motorcycle produced

1989

  • New motorcycle model - 'Sleek' introduced

1991

  • New motorcycle model - 'CD 100 SS' introduced
  • 500,000th motorcycle produced

1992

  • Raman Munjal Vidya Mandir inaugurated - A School in the memory of founder Managing Director, Mr. Raman Kant Munjal

1994

  • New motorcycle model - 'Splendor' introduced
  • 1,000,000th motorcycle produced

1997

  • New motorcycle model - 'Street' introduced
  • Hero Honda's 2nd manufacturing plant at Gurgaon inaugurated

1998

  • 2,000,000th motorcycle produced

1999

  • New motorcycle model - 'CBZ' introduced
  • Environment Management System of Dharuhera Plant certified with ISO-14001 by DNV Holland
  • Raman Munjal Memorial Hospital inaugurated - A Hospital in the memory of founder Managing Director, Mr. Raman Kant Munjal

2000

  • 4,000,000th motorcycle produced
  • Environment Management System of Gurgaon Plant certified ISO-14001 by DNV Holland
  • Splendor declared 'World No. 1' - largest selling single two-wheeler model
  • 'Hero Honda Passport Programme' - CRM Programme launched

2001

  • New motorcycle model - 'Passion' introduced
  • One million production in one single year
  • New motorcycle model - 'Joy' introduced
  • 5,000,000th motorcycle produced

2002

  • Becomes the first Indian Company to cross the cumulative 7 million sales mark
  • Splendor has emerged as the World's largest selling model for the third calendar year in a row (2000, 2001, 2002)
  • New motorcycle model - 'CD Dawn' introduced, New motorcycle model - 'Splendor +' introduced, New motorcycle model - 'Passion Plus' introduced, New motorcycle model - 'Karizma' introduced

2004

  • New motorcycle model - 'Ambition 135' introduced
  • Hero Honda became the World No. 1 Company for the third consecutive year.
  • Crossed sales of over 2 million units in a single year, a global record
  • Splendor - World's largest selling motorcycle crossed the 5 million mark
  • New motorcycle model - 'CBZ' introduced
  • Joint Technical Agreement renewed
  • Total sales crossed a record of 10 million motorcycles

2005

  • Hero Honda is the World No. 1 for the 4th year in a row
  • New motorcycle model - 'Super Splendor' introduced, New motorcycle model - 'CD Deluxe' introduced New motorcycle model - 'Glamour' introduced, New motorcycle model - 'Achiever' introduced
  • First Scooter model from Hero Honda - 'Pleasure' introduced
  • 2006
  • Hero Honda is the World No. 1 for the 5th year in a row
  • 15 million production milestone achieved

2007

  • Hero Honda is the World No. 1 for the 6th year in a row
  • New 'Splendor NXG' launched
  • New 'CD Deluxe' launched
  • New 'Passion Plus' launched
  • New motorcycle model 'Hunk' launched
  • 20 million production milestone achieved

2008

  • Hero Honda Haridwar Plant inauguration
  • New 'Pleasure' launched
  • Splendor NXG launched with power start feature
  • New motorcycle model 'Passion Pro' launched
  • New 'CBZ Xtreme' launched
  • 25 million production milestone achieved
  • CD Deluxe launched with power start feature
  • New 'Glamour' launched
  • New 'Glamour Fi' launched

2009

  • Hero Honda GoodLife Program launched Hunk' (Limited Edition) launched
  • Splendor completed 11 million production landmark
  • New motorcycle model 'Karizma - ZMR' launched
  • Silver jubilee celebrations

2010

  • New model Splendor Pro launched
  • Launch of new Super Splendor and New Hunk

2011

  • New licensing arrangement signed between Hero and Honda
  • Launch of new refreshed versions of Glamour, Glamour FI, CBZ Xtreme, Karizma
  • Crosses the landmark figure of 5 million cumulative sales in a single year
  • July 29, 2011 - Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company

2012

  • Migration of all products to Brand Hero
  • Launch of Impulse, Maestro and Ignitor

2013 

  • Neemrana Plant Foundation Stone laid
  • 50 Million cumulative 2 wheelers production
  • Hero Motocorp Commences Construction Of Its New Plant & Global Parts Centre
  • Hero Motocorp Launches Another Market First Offers Warranty Of 5 Years On All Its Two-Wheelers
  • Hero Motocorp Commences Construction of Its ''GAME-CHANGING'' Centre Of Global Innovation And Research & Design
  • Hero Motocorp Sets Yet Another Milestone In Its Journey Of Technological Leadershiphero Motocorp Zooms Ahead With Record Retail Sales Of Over 1.2 Million Units In Oct-Nov

2014

  • Hero Motocorp Heralds A New Era Of Technology Leadership
  • Hero Motocorp Sets New Benchmark for the Global Two Wheeler Industry
  • Hero Motocorp Launches Splendor Ismart With Game Changing I3s Technology

2015

  • Hero MotoCorp Augments Leadership with Highest-ever Calendar Year Sales in 2014
  • Hero MotoCorp has launched a new entry level commuter, the HF Dawn
  • Hero MotoCorp launches new Passion Pro bike
  • HMCL Americas INC enters into ''Settlement Agreement'' to Acquire EBR's Consulting Business
  • Hero MotoCorp has commenced operation in their first ever plant outside India established in Villa Rica, Colombia

2016

  • Hero MotoCorp Commences the New Year with Robust Sales
  • Hero MotoCorp unveils four new 2-wheelers
  • Hero MotoCorp unveils technology & innovation-driven new product strategy
  • Hero MotoCorp inaugurates CIT in Jaipur -Hero MotoCorp Marks Five Years of Solo Journey with Leadership Performance
  • Hero Motocorp begins a new era with the Splendor iSmart 110 - the first motorcycle completely designed & developed in-house

2017

  • Brad launch in Argentina
  • First ever global product launch - Glamour 125 in Buenos Aires
  • Appointment of Diego Simeone as Brand Ambassador
  • Surpassed 75 million in cumulative sales
  • Commercial production began at manufacturing facilities in Gujarat and Bangladesh
  • Awarded the ‘Indian MNC of the Year’ by the All India Management Association (AIMA)
  • Became the National Supporter of the FIFA U-17 World Cup 2017
  • Hero Challenge introduced on Scottish Open
  • Hero MotoSports Team Rally’s debut at Dakar 2017

2018

  • Launch of e-commerce portal for Hero Genuine Parts
  • Entry into pre-owned two-wheeler business
  • Hero Joyride program crossed One Million customer registrations
  • Foundation stone laid at 8th manufacturing site in Andhra Pradesh (Chittoor)
  • Hero MotoCorp Surpasses Record 7 Million Unit Sales In Calendar Year (Jan-Dec) 2017 - Yet Another Global Benchmark
  • Hero MotoCorp Rides Into The Future With An All-New Roadster The Xtreme 200R
  • Hero MotoCorp Unveils India’s First 200cc Adventure Motorcycle – ‘XPulse’
  • Hero MotoCorp Sets A New Benchmark With Its New Customer Care Program Hero Joyride
  • Hero MotoCorp Lays Foundation Stone Of Its 8th World-Class Manufacturing Facility
  • Hero MotoCorp Makes A Bold & Premium Entry In The 125cc Scooter Segment With Destini 125
  • Hero MotoCorp To Expand Its Premium Range With New Motorcycle - XPulse 200T
  • Hero MotoCorp Extends Its Global Ride With Tiger Woods
  • Hero MotoCorp Signs Virat Kohli As Brand Ambassador

2019

  • Hero MotoCorp, capped-off the Calendar Year (CY) 2018 with yet another significant benchmark, by selling a record 8,039,472 units of motorcycles and scooters in the January-December period.
  • Hero MotoCorp, announced setting-up of its first Research and Development (R&D) Center at a global location - the Hero Tech Center Germany GmbH
  • Hero MotoCorp Title Sponsor SJOBA Rally
  • Hero MotoCorp catapults into a new era of premium biking, launches Xtreme 200S, XPulse 200, XPulse 200 FI and XPulse 200T
  • Hero MotoCorp augments its premium strategy in scooter segment- Launches Maestro Edge 125 and Pleasure+ 110
  • Hero MotoCorp becomes first two-wheeler manufacturer to get BS-VI certification
  • Hero MotoCorp announced the appointment of Yerry Mina, the popular Colombian professional footballer, as its new Brand Ambassador
  • "Diversity" Journey At Hero MotoCorp Surpasses Significant Milestone With 1000 Women Employees
  • Hero MotoSports Wins The Pan Africa Rally 2019 At Merzouga
  • Hero MotoCorp Surpasses 25 Million Units Landmark In Cumulative Production At Haridwar Facility
  • Hero MotoCorp Launches India's First BS-VI Motorcycle

2020

  • Hero MotoCorp Forays Into Connected Mobility With 'Hero Connect'
  • Hero MotoCorp launches Glamour BS-VI, Passion Pro BS-VI, XPulse Rally Kit and Xtreme 160R At 'Hero World 2020'
  • Hero MotoCorp Intensifies Digital-First Approach by launching eSHOP for online sales of products
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