Award: Lifetime Achievement
Brijmohan Lall Munjal
Founder director and chairman, Hero Motocorp
Age: 90
Interests outside of work: Yoga, movies
Why he won this award: For building Hero Group into the world’s largest cycle-maker and Hero Motocorp into the world’s largest two-wheeler manufacturer (by volume) and now rebuilding it after the breach with Honda
Brijmohan Lall Munjal is no stranger to adversity. For a man who found his feet in post-Independence India and, today, has a personal wealth of more than $2.2 billion, he would have faced challenges of varying hues and magnitudes. But, even for the battle-scarred nonagenarian, nothing would have compared to the events of two years ago.
Having built his life on relationships, looking upon the Hero Group as a large family of suppliers, dealers and employees working together towards a common goal, the bitter disintegration of a pivotal association would have stung.
In 1984, Munjal had joined hands with Japanese major Honda to manufacture motorcycles in a country that did not think beyond scooters. He was hesitant—he wanted to make scooters. But Honda wasn’t willing. For that, they had already found a partner in the Firodias (makers of Kinetic). But, as fate would have it, Hero Honda and its motorcycles gave everybody a run for their money and, by 2001, beat Bajaj Auto to become India’s largest two-wheeler manufacturer.
In the years between March 2000 and March 2011, Hero Honda’s (now Hero Motocorp) revenue grew from Rs 2,118 crore to Rs 20,787 crore; profits increased from Rs 192 crore to Rs 1,927 crore.
But, inexplicably for the industry, on December 21, 2010, Hero Honda split up. It was a bitter separation.
In 1944, the Munjal family moved to Amritsar in Punjab where they started manufacturing bicycle parts. It was a tough phase. “I travelled across India carrying bicycle parts in a bag. I would go to dealers to show them the samples. They would say, ‘Sir, you’ll show something and send something completely different. This won’t work’,” says Munjal.
In more ways than one, Davar owes his career to Munjal. “He is a godfather to me. I come from a family of professionals; my father was a banker. I completed my engineering and was ready to go abroad for my MBA,” he says.
(This story appears in the 01 November, 2013 issue of Forbes India. To visit our Archives, click here.)
I met Mr B.M.Munjal in 1975,after completion of my Diploma in Mech Engg from Jalandhar,for the first time.I was very much impressed with his personality and behaviour. Undoubtedly,he has given new name and identification to INDIA in the field of two wheelers.We remember the days,when waiting period for scooter/ motorcycles were 6-7 months and Bajaj was having name in two wheelers. Thanks and regard to Mr B.M.Munjal for his contribution to Indian industries.
on May 22, 2014Mr.Brijmohan Lall Munjal will remain ever as source of inspiration for the upcoming entrepreneurs..
on Dec 4, 2013Great and honorable personality..... :)
on Oct 28, 2013very inspiring...
on Oct 25, 2013he is a true leader and great personality
on Oct 24, 2013Very Informative and interesting article extending encouragement to one and all. It is indeed very impressive success story based on hard honest work. But it does not cover the contributions of Mr Lall\' s eldest son late Mr Raman Munjal. Even in the photograph with Japanese visitor , he is not identified.
on Oct 24, 2013Great ,he is a man of honour.he is truly a man who deserve it.hats off
on Oct 23, 2013Sab sahi kah rahe hai , lekin sabko ye pta nahi ki ki ....hero main kitne ( Casual ) Worker ko 15 saal bhi ho gaye lekin abhi bhi woh conform nai hai ... aaj hero agar is mukaam me hai to sirf casual ki wajah se hai .... maine hero me kaam kiya hai 14 saal.. lekin main barbaad ho gya ... mian hero main confirm nahi huya .. compniyo me kaam casual kar rahe hai... lekin is compni me milta usko hai jo pura din ghoom ke chala jata hai...
on Oct 23, 2013he proved that age should not be determining factor for retiring . capability never diminishes with age rather it enhances the efficiency and it makes the thought maturer to grow and prosper in every terms.
on Oct 22, 2013I have a very good experience of dealing with Mr. Munjal\'s factory in Punjab. It happened so that one of the part of my son\'s hero bi-cycle was broken and not available in Shillong. I wrote to the company and to my surprise I got an instant reply as to how to procure it quickly through their dealers. One of their dealers in Guwahati talked to the factory and they agreed to send the single article within two weeks of time. I admire the success story of Mr. Munjal.
on Oct 22, 2013The common factor which i find in all the successful Indian Brand builders are Hard Labor and Perseverance but quite a few sticking to Integrity and emerging as stronger day by day...
on Oct 21, 2013