23 May 2017
India’s youngest and the third largest tractor brand, Sonalika International Tractors Ltd, witnessed a remarkable performance in FY 16-17. The annual revenue of the company significantly grew up by 17% i.e. 4268 crores. The company recorded its highest ever sales of 81531 tractor units resulting in the upsurge of annual profit by 22%. Year 2016-17 has been exceptionally successful for Sonalika ITL, where it set multiple benchmarks in the industry and strengthened its position by registering growth more than the industry and increased market share from 11.9% to 12.3%. Sonalika has the world’s No 1 integrated tractor manufacturing plant in Hoshiarpur, Punjab which was inaugurated by Hon. Chief Minister, Captain Amarinder Singh on 8th May 2017.
With a fresh investment of Rs. 800 crores, Sonalika’s World No. 1 integrated tractor manufacturing plant has now spread across a massive area of more than 85 acres. The plant is equipped to cater to ever growing demands of customers across the globe. Technically upgraded to roll out a tractor every two minutes, Sonalika ITL’s integrated manufacturing plant manufactures 3 lakh tractors annually. Producing international quality tractors catering to 80 countries across the globe, this plant endeavors to bring top-of-the-line exceptional products to Indian farmers as well.
Sharing the company’s annual performance, Raman Mittal, Executive Director Sonalika ITL says, “FY16-17 has been remarkably successful for us. Our passion for growth, focused strategy to offer world class products to our customers and trust of our partners in both domestic and International markets has helped boost our morale for the future. Sales growth by 22% in the first month itself of FY18 has further charged us to strive for higher growth as we have the strength of having the largest plant, world-class products and a very passionate team. With positive industry trends, we believe Sonalika is all geared up to strengthen its position both in domestic and global markets.
Sonalika has presence in over 80 countries and is increasing its global footprints day by day. In FY16-17 Sonalika was the 2nd largest tractor exporter and through continued efforts it has increased its customer base from 6 lakhs to 7 lakhs. Yanmar, a Japanese 7 billion USD major corporation has shown confidence looking at the World’s No. 1 plant and is now planning to manufacture its next generation tractors in India which will be sold globally. Yanmar has product portfolio of paddy special and light weight tractors while Sonalika ITL has robust heavy duty tractor range. Together, both the companies now have the most diverse product portfolio and we are looking at growing exponentially and offering complete farming solutions globally.