Friday, November 22, 2024

Sonalika crosses the 1 lakh milestone in annual sales in FY18

Saturday, March 31, 2018, 13:56
This news item was posted in Business category and has 0 Comments so far.

Sonalika International Tractors Limited (ITl) grew by 22% to sell 100,001 tractors in the current financial year. The company recorded a robust growth of 56% in the last quarter FY’18, surpassing the overall growth registered in the industry. In March, the company increased sales by a whopping 80% to sell a total of 12,791 tractors. 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….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.”The company is 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, Mittal said. “With the growth trend seen in Q4, we are confident to continue this growth momentum, surpassing industry growth.”

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