Hoshiarpur-based company sells 9,714 units in May 2018, registering a 16.5% growth.
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Sonalika ITL will invest in Netherlands but has also signed an MoU with Dutch Counterpart through INDUS forum on doubling farmer’s income by providing...
Sonalika ITL strengthens its position by achieving 17.6 percent growth, exceeds the industry average.
Sonalika ITL, which sells its tractors in the 20hp to 120hp range in over 80 countries, is targeting double-digit growth.
The tractor maker aims to produce 120,000 units in FY2017-18, utilising 60 percent capacity of this domestic market-specific line.
While the company sold 69,290 units in the domestic market, up 18 percent YoY, it exported 12,241 units, up 29.3 percent YoY.
In November, Sonalika despatched 8,121 tractors to overseas markets compared to 6,739 units in the year-ago period.
Sonalika ITL claims it is the first Indian manufacturer to develop and manufacture a 120hp tractor indigenously.
Sonalika ITL, which currently exports to 90 countries, aims to expand its presence to five more countries in 2018.