Obituary: O.P. Munjal

Munjal, chairman emeritus of Hero Cycles, was among the founders of the Hero Group.

O.P. Munjal, chairman emeritus of Hero Cycles and one of the founders of the Hero Group, passed away earlier today in Ludhiana. The 86-year-old industry veteran had been unwell for the past few months.

Last month, Munjal ceded chairmanship of Hero Motors group to his son, Pankaj Munjal, who succeeded him as the chairman and managing director of the company.

The company has sent a note to the media: O.P. Munjal, along with his three brothers, started a bicycle spare parts business in Amritsar in 1944. They subsequently moved their base to Ludhiana, naming the company ‘Hero,’ and set up India’s first bicycle manufacturing unit in 1956. During the 1980s, Hero Cycles became the largest bicycle manufacturer, by volume, in the world.

Munjal, who led Hero Cycles for almost 60 years, also helped in diversifying the portfolio to other businesses such as auto parts manufacturing and hospitality. Under his leadership, the company went on to become a Rs. 3000 crore industrial house. He also served as the president of All India Cycle Manufacturers’ Association.

Munjal had received national honours from former Presidents of India, including Sarvepalli Radhakrishnan, V.V. Giri, Giani Zail Singh and Dr A.P.J. Abdul Kalam. He also received the Udyog Rattan Award for outstanding contribution towards economic development of the State (Punjab).

Munjal was also a known philanthropist. He supported several educational institutions and hospitals across India.