Hero Honda Report

Design & Developed by Bounce Design Plant Photography by: S Kumar

MEASURE SUCCESS?
Every business strives for success. Success however has many benchmarks and many interpretations. Some view success on a purely financial plane, others view it in terms of their market reach while some argue it as their ability to survive in difficult terrain. 25 years of operation have taught us that there are many yardsticks and measures to qualify success. What however remains sacrosanct is the inexorable link between faith and success. If you have faith, success is bound to follow. This year’s annual report showcases our performance against some established benchmarks and more importantly, those that make us truly successful.

HOW DO WE

CONT ENTS

Corporate Profile 07 Journey of 25 Years 08 Chairman’s Message 10 Board of Directors 12 Management Discussion & Analysis 20 Economic Environment 24 Industry and Segment Dynamics 26 Results and Financial Analysis 32 Risks and Outlook 34 Operations, Reach & Supply Chain 38 People and Environment 42 Social Responsibility 46 Directors’ Report 55 Corporate Governance Report 59 Auditors’ Report 84 Balance Sheet 88 Profit & Loss Account 89 Cash Flow Statement 90 US GAAP 125

STATURE

IS IT ABOUT THE

INTHE

HERO HONDA IS THE LARGEST MANUFACTURER OF TWO WHEELERS IN THE WORLD…. AND HAS BEEN SO OVER THE LAST EIGHT YEARS.

INDUSTRY?

CORPORATE PROFILE A GLORIOUS HISTORY AND AN EVEN MORE GLORIOUS FUTURE
It all began with a dream… The Hero Honda story began with a simple vision – the vision of a mobile and an empowered India, powered by Hero Honda. This vision was driven by Hero Honda's commitment to customer, quality and excellence, and while doing so, maintain the highest standards of ethics and societal responsibilities. Twenty five years and 25 million two wheelers later, Hero Honda is closer to fulfilling this dream. This vision is the driving force behind everything that we do at Hero Honda. We understood that the... [continues]

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