The country's largest motorcycle manufacturer, Hero MotoCorp, officially inaugurated its fourth facility in the country, which is in Rajasthan's Neemrana area. Farah Bookwala-Vohra and Gopika Gopakumar report on how this facility fits into the company's vision to build 20 plants around the world by 2020.
The country's largest motorcycle manufacturer, Hero MotoCorp , officially inaugurated its fourth facility in the country, which is in Rajasthan's Neemrana area. Farah Bookwala-Vohra and Gopika Gopakumar report on how this facility fits into the company's vision to build 20 plants around the world by 2020.
Hero's new plant, built in Neemrana, an industrial town off the Jaipur highway, comprises of a global parts centre and a manufacturing facility that has been built at a cost of Rs 1,050 crore. This investment is the first in a series of investments -- totally worth Rs 5,000 crore rupees -- that the company has outlined to boost production capacity around the world. This is keeping in line with its 2020 vision to surpass 100 million units in production.
The 30,000-square metre, largely-automated facility at Neemrana has an installed capacity of 7,50,000 units per annum and can produce two-wheelers ranging from 100cc to 1,000cc.
It has currently begun with production of 100cc motorcycles but very soon, it will begin production of higher cc bikes and scooters as well. The plant will largely cater to the domestic market. Also, as the neemrana facility takes life, the next two domestic plants are also taking shape.
"We will need to add more capacity, and working on it. Work on a unit in Gujarat will begin in November. A plant in Andhra Pradesh has been commissioned and is taking final shape," MD and CEO Pawan Munjal said.
Work on the company's global plants has also begun, even as Hero MotoCorp scouts for new geographies where it can build further capacities. The Cambodia plant is under construction and work on the Bangladesh plant will kick off soon. Hero is also hoping to build a plant in Argentina in a year's time and Brazil will see a factory in 2020. But the company's aggressive plans to build 20 plants by 2020 has many asking if such rapid capacity ramp-up at a phenomenal cost is really required.
But Munjal says the company does not want to be in a situation where it has insufficient supplies.
Hero has also finalised plans to enter the European and American markets through local tie-ups. It plans to foray into West Europe in 2016 with its hybrid scooter Leap.
Hero Motocorp stock price
On October 21, 2014, at 14:15 hrs Hero Motocorp was quoting at Rs 2991.10, up Rs 54.20, or 1.85 percent. The 52-week high of the share was Rs 3080.00 and the 52-week low was Rs 1907.00.
The company's trailing 12-month (TTM) EPS was at Rs 120.45 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 24.83. The latest book value of the company is Rs 280.43 per share. At current value, the price-to-book value of the company is 10.67.
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