Research Store

Research Store

Research Store
add to cart Register yourself and then log-in with your user ID and password, before clicking on 'Add to Cart'
Issue Date:15 June 2017     Price in Rs. R 6500    Price in USD. $ 100

Ludhiana based Hero Cycles Ltd ( is the largest cycle company in India. It also lays claim to be the world’s largest cycle company.


It is owned by a branch of the Hero group and the Munjal family. The company is currently led by Pankaj Munjal, and was started by his father OP Munjal. OP Munjal’s brother BM Munjal was the founder of India’s largest motorcycle company Hero MotoCorp.


Hero Cycles is an unlisted public limited company incorporated on 29 August 1966. The company has 6 directors: Shashi Kant Rai, Mohamad Abdul Zahir, Yogesh Chander Munjal, Pankaj Munjal, Sandeep Dinodia, Pratibha Goyal.


For the year ended Mar’16, the company reported revenue of INR 17.85B (~USD 280m) and net profit of INR 726m. Reported EBITDA margin has been around 6-7% in recent years. The topline has been flat for several years. The company had similar revenues even in FY10, when in fact it reported better profits.

  1. Company Background
  2. Business Highlights
  3. Financial Performance
  4. Financial Details


  1. Board of Directors
  2. Financial Summary
  3. Profit & Loss Account
  4. Balance Sheet
  5. Ratios


No data to display