Hero Group ranks among Top 10 Indian Business Houses. Here is a brief history and profile of Hero Group of Companies.

Hero Group

Hero Group is a multi-unit, multi-product, geographically diversified Group with myriad interests. Hero, is synonymous with two-wheelers in India and Group's other ventures include product designing, IT enabled services, finance and insurance etc. Hero Group ranks amongst the Top 10 Indian Business Houses. The Group today comprises of 20 companies, 300 ancillary suppliers, over 5,000 outlets, and has employee strength of more than 23,000.

The origins of Hero Group can be traced to 1956 when Hero Cycles Limited was established by Munjal brothers: Satyanand Munjal, Brijmohan Lall Munjal and O. P. Munjal. Before the establishment of Hero Cycles, which is the flagship company of the Hero Group, Munjal brothers were modest manufacturers of bicycle components. In 1961, Rockman Cycles Industries Limited established, which is today the largest manufacturer of bicycle chains and hubs. In 1963, Hero Group forayed into the international market with bicycle exports from India. In 1971, Highway Cycles was set up to meet the demands of Hero Cycles. It is today the largest manufacturer of single speed and multi-speed freewheels. In 1975, Hero Cycles Limited became the largest manufacturer of bicycles in India. In 1978, Majestic Auto Limited was formed and the Hero Majestic Moped was introduced. In 1981, Munjal Castings was established. In 1984, Hero Group started manufacturing motorcycles with the establishment of Hero Honda Motors Limited in joint venture with Honda Motors of Japan. In 1985, Munjal Showa Limited was established to manufacture shock absorbers and struts. In 1986, Hero Cycles Limited entered the Guinness Book of Records as the largest bicycle manufacturer in the World. In 1987, Hero Motors, a division of Majestic Auto Limited was set up in collaboration with Steyr Daimler Puch of Austria. In 1987, Gujarat Cycles Limited, presently known as Munjal Auto Industries Limited was established to manufacture and export state-of-the-art bicycles and allied products. In 1993, Hero Exports was established as the International Trading Division for Group and non-Group products. In 1995, Hero Corporate Services Limited was established as the service segment for the Hero Group Companies, ancillaries, suppliers, dealers and other associates. In 1998, Munjal Auto Components was established to manufacture gear shafts and gear blanks for motorcycles. In 2000, Hero Group diversified into IT and IT enabled services through its service segment - Hero Corporate Services Limited. In 2001, Hero Global Design established to offer engineering services in CAD/CAM/CAE related to New Product Development, Design, Engineering and Manufacturing. In 2002, Easy Bill was established to offer utility bill collection & retail services. In 2004, Hero Group forayed into retail insurance business with the establishment of NsurePlus. Today, Hero Group enjoys leadership position in all the business segments it has entered.

Major Achievements of Hero Group
Note: The above information was last updated on 21-07-2007