Pawan Munjal who is currently Managing Director & Chief Executive Officer of Hero MotoCorp (HMCL) has been elevated to the post of Vice Chairman of the company. Munjal will now hold the position of Vice-Chairman and Managing Director of the company. The Board of Directors of the company has cleared Munjal’s new position.
Pawan Munjal took over as the MD & CEO of Hero MotoCorp in 2001 (it was then known as Hero Honda). In the meantime, the company recorded its highest-ever quarterly sales of 17,15,254 units of two-wheeler in the first quarter (April-June of this financial year (2014-15). The company’s total turnover (Net Sales & other Operating Income) in the quarter stood at Rs 7036.84 crore. EBIDTA margin for the quarter stood at 13.46pc.
HMCL also reported Profit-After -Tax (PAT) of Rs 562.76 crore, compared to the PAT of Rs 548.58 crore in the corresponding quarter (April-June 2013) and Rs 554.43 crore in the previous quarter (January-March 2014). It announced an interim dividend of Rs. 30 per share i.e. 1500 percent entailing total outgo of Rs. 700.87 crores inclusive of dividend distribution tax.
Dr. Brijmohan Lall, Chairman, Hero MotoCorp, said the Board was delighted to elevate Pawan Munjal to the position of Vice Chairman.
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