- A debt free company since inception, doubles its sales in last 5 years
- Continue to outperform tractor industry
India’s youngest and debt free tractor brand, Sonalika International Tractors Limited (ITL), which has built the World’s No 1 largest integrated tractor manufacturing plant in Hoshiarpur created history by recording highest ever annual sales of 1 lakh tractors in a short span of time registering an overall growth of 22%.
The company has recorded a robust growth of 56% in the Q4 FY’18, surpassing the industry growth. In March, the company has registered phenomenal growth of 80%, with the total sales of 12,791 tractors.
Commenting on this dream come true milestone, Mr. Raman Mittal, Executive Director Sonalika ITL stated, “In FY’13, when we sold 50,853 tractors, we set a vision for ourselves to achieve the 1 lakh milestone by FY’18. To achieve this dream we kept farmers at the center point. We started making customized products best suited for every state, every type of soil conditions and multiple applications like puddling, orchard farming, potato farming, rotavator, cultivator and many more. It was a simple objective but required very complex solution, it meant having more than 1000+ variants with most advanced technology at a competitive price which has resulted in widest product range from 20-120HP.
Our products are manufactured with strong research and manufacturing engineering. To achieve this, we have invested extensively in building in-house capabilities for newer technologies like CRDi and implements, which required building a huge manufacturing facility where the large variety of products can be made at best quality and price with flexibility to match seasonal demands. All this resulted in creation of world’s largest manufacturing facility. Our focus on innovative technology helps in enhancing the farm productivity, which has led Sonalika to be chosen by Government of India as the contributing partner with Niti Aayog for doubling farmer’s income by year 2022.”
Speaking of the company’s future plans and industry outlook, Mr. Mittal commented, “Our focus across all geographies has led us to be one of the leaders across states as well as presence over 100 countries with leadership in 4 countries. We will continue to strengthen our presence in Europe & USA markets with advanced tractors meeting the stringent emission norms. All this have been achieved on the backdrop of simple belief of providing best solutions to the farmer and be a partner in his economic growth.
We have launched new range of Sikander tractors and will be soon launching technologically advanced new series of next generation tractors meeting all future norms. We shall continue to invest in strengthening our technology platform to offer customized farming solutions.
We are looking forward for a favorable weather in 2018. Favorable monsoons, combined with the government’s pro-agriculture allocation should enable the industry to grow at a steady pace. With the growth trend seen in Q4, we are confident to continue this growth momentum, surpassing industry growth. We are taking forward the Make in India story and enabling farmers to enhance their prosperity, while being a part of their lives.”