Brijmohan Lall Munjal
Brijmohan Lall Munjal
|Died||1 November 2015 (aged 92)|
New Delhi, India
|Occupation||Founder and chairman of the Hero MotoCorp|
|Net worth||$3.7 billion (Sep. 2014)|
|Children||Four sons, one daughter|
Brijmohan Lall Munjal (1 July 1923 – 1 November 2015) was an Indian businessman, founder and patriarch of India's largest two wheeler company, the Hero MotoCorp.
Munjal was born in 1923 at Kamalia, district Toba Tek Singh in unpartitioned Punjab, British India. Kamalia is now in Pakistan. He was from a simple middle-class Arora/Khatri family. After completing his formal education, he worked at the Army Ordnance Factory, before moving his base to India after partition.
In 1954, Hero Cycles moved up the value chain by making a shift from supplying to manufacturing handlebars, front forks and chains. In 1956, the Punjab Government issued tender notices for twelve new industrial licenses to make bicycles in Ludhiana. Munjal and his brothers participated in the bid and won the contract. Hero Cycles was registered as a large-scale industrial unit. with capital partly financed by the Government of Punjab.
In 1961, Rockman Cycles Industries was established to manufacture bicycle chains and hubs. Under Munjal's leadership, Hero Cycles was the first company to export bicycles on such a large scale. In 1975, the company had become the largest bicycle manufacturer in India. By 1986, Hero Cycles entered the Guinness Book of Records as the largest manufacturers of bicycles in the world.
Before entering into a joint venture with the Honda Motors, Munjal started a Majestic Auto and started manufacturing of the Hero Majestic Moped. To manufacture motor cycles in 1984, the Hero Group started a joint venture with Hero Honda and established a plant at Dharuhera, Haryana. The Hero Group became so large that by 2002 it had sold 8.6 million bicycles, and was producing 16,000 motorcycles a day.
After the Hero Honda Motors joint venture broke up in August 2011, Hero's board of directors agreed to pay royalties to Honda to continue to produce the Hero Honda until 2013, due to the popularity and ubiquity of the Hero Honda brand in the Asia Pacific region as Hero Honda Brand was trusted among the best in the Product reliability and customer satisfaction.
The separation gave an opportunity for Hero to expand its market globally with the name Hero MotoCorp. Previously, it had not been permitted for Hero Honda to sell their bikes outside the Asia Pacific and in countries where Honda operated.
In the first week of August 2013, the company recorded a benchmark never before reached by an Indian two-wheel vehicle industry manufacturer, by producing 50 million bikes.
Brijmohan was married to Santosh and had five children: Raman Kant (deceased), Suman Kant, Pawan Kant, Sunil Kant and a daughter, Geeta Anand. He died on 1 November 2015 in South Delhi after a short illness.
Awards and recognition
- Awarded Businessman of the Year in 1994 by business magazine Business India
- Received the National Award for outstanding contribution to the Development of Indian Small Scale Industry in 1995
- In 1999 Featured in Most Admired CEO List of the magazine Business Barons
- Received the Distinguished Entrepreneurship Award from the PHD Chamber of Commerce and Industry in 1997.
- Xavier Labour Relations Institute (XLRI) conferred Sir Jehangir Ghandy Medal for Industrial Peace in 2000
- Featured as Ernst & Young Entrepreneur of the year in 2001
- Received the Lifetime Achievement award for Management from the All India Management Association in 2003
- Banaras Hindu University, Varanasi conferred him with a doctorate; degree of Doctors of Letters honoris causa in October 2004.
- Awarded the Padma Bhushan in March 2005 for his contribution to trade and industry in 2005
- Lakshya Business Visionary Award by NITIE, Mumbai in 2008
- Lifetime Achievement Award by TERI in 2011
- Lifetime Achievement Award by Ernst & Young in 2011.
- Lifetime Contribution Award by All India Management Association in 2011
- Doctor of Science (Honoris Causa) by IIT, Kharagpur in 2011
- Lifetime Achievement for the Asia Pacific Entrepreneurship in 2011
- Awards by Enterprise Asia in 2011
References and notes
- Guide Publications (1986). Who's who in India. India: Intl Pubn Service. p. 288. ISBN 0800240871.
- "Brijmohan Lall Munjal: A Hero for Life". Forbes. Retrieved 10 January 2015.
- "Amazing story of how Munjal built Hero Honda". Rediff.com. Retrieved 10 January 2015.
- "Munjals to set up family council". Financial Express. Archived from the original on 10 January 2015. Retrieved 10 January 2015.
- "The succession story of Munjal family". NDTV. Retrieved 10 January 2015.
- "Padma Awards" (PDF). Ministry of Home Affairs, Government of India. 2015. Archived from the original (PDF) on 15 November 2014. Retrieved July 21, 2015.
- "Entrepreneur Of The Year 2010 Lifetime Achievement". EY. Archived from the original on 10 January 2015. Retrieved 10 January 2015.