Profit

The succession story of Munjal family

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The journey for the Hero Group began when Brijmohan Lall Munjal started as a bicycle maker with his three brothers in the 1940s. The group now worth over $4 billion officially came into existence in 1956 and has over 20 firms related to the two-wheeler industry.

Post settlement, BM Munjal's family has consolidated ownership of the companies that his sons and grandchildren run like Hero Honda, Rockman Cycles and Hero Mindmine to 26 per cent. His two brothers have ownership of other entities and the family of his late brother Dayanand has also got its due.

But of course BM Munjal’s own faction is huge. Of his four sons, the eldest, Raman Kant Munjal passed away at an early age, after having founded hero Honda. Suman Kant Munjal started Rockman Cycles in 1961. Pawan Kant Munjal, Brijmohan Munjal's third son took over Hero Honda, and the youngest son Sunil Kant Munjal heads hero corporate services. Between them they have ten children.

The late Raman Munjal's son Rahul Munjal is the eldest of the ten and has founded Easy Bill. His brother Abhimanyu Munjal is spearheading special projects under Hero Corporate. Their sister, Radhika is not in the business.

Suman Munjal's sons Ujjwal and Akshay work in Rockman Cycles and the third, Vidur is studying. Pawan Munjal's two daughters Vasudha and Supriya have their own businesses not under the group. His son Annuvrat is still studying. Sunil Munjal's daughter Shefali works with her father in hero corporate.

"It's as hard running a family as running a business or a family business. We spend time, energy and efforts running this family as a family," said Rahul Munjal, MD of Easybill Ltd.

With five in the third generation working within the BM Munjal group of companies, even post settlement this faction itself has many ambitions at large.

“I don't see us having trouble. But at some point the family will get larger, people's ambitions will change by which time we plan to have out family constitution in place which is also a part of the succession plan. So the family constitution will address such issues," said Rahul Munjal.

This means we'll here soon hear about a settlement within the Brijmohan Munjal group. Again in that rare peaceful manner that is not so common in India Inc.

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