HHMLHero Honda Motors Ltd.
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HHML was promoted as a joint venture company (both promoters holding 26% of equity) in January 1984 by Hero Cycles Limited and Honda Motor Company (HMC), Japan and is engaged in the business of manufacturing and marketing of motorcycles and scooters.
In CRISIL's opinion, HHML has a capable and experienced management team, with a proven track record in its core businesses, and in managing its daily operations.
HHML sells around 35,000 units of Pleasure every month.
CRISIL believes that HHFL will continue to benefit from operational, financial, and managerial support from HHML.
The reports quoted Anil Dua, senior vice-president (sales & marketing) of HHML, as saying "Law & Kenneth has been mandated to bring alive the positioning of the new brand, and evolve an impactful 360-degree campaign to communicate the same.
The rating factors in the stable share of business enjoyed by BML for the components that it supplies to HHML, the company's presence in diverse business lines, namely, forging and casting and new client additions in the domestic as well as exports markets.
According to reports, HHML stated that the amount is in line with its existing rate of royalty payment, which is about 2.
They are further underpinned by the significant group support on account of SACL being part of the well-established Hero Group with strong business associations with Hero Honda Motors Ltd (BOM:500182), or HHML.
It can be recalled that the two joint venture partners of HHML -- Hero Group and Honda Motor Co -- signed an agreement few months ago, in which Hero is going to buy all the 26 per cent shares of foreign partner in HHML.
The ratings incorporate HGL's track record of profitability and revenue growth and its long established relations with its clients, in particular Hero Honda Motors Limited (BOM:500182), or HHML.
The reports have mentioned that in a regulatory filing, the company said that its investment company Hero Investments Private Limited (HIPL) is to acquire Honda's entire 26 percent stake in HHML at Rs.
The impending exit rumours had kept HHML shares in tatters for some time.