Sonalika ITL, which sells its tractors in the 20hp to 120hp range in over 80 countries, is targeting double-digit growth.
05 May 2017 | 26148 Views | By Autocar pro news desk
Sonalika ITL, the No 3 tractor player in India, has kicked off FY2017-18 on a positive report. The company has registered domestic sales numbers of 6,519 units in April (+20.9%).
It has also increased its exports by 33 percent, with 862 units being shipped to its major export markets, including the US and Europe.
Commenting on the growth, Raman Mittal, executive director, Sonalika ITL, said, “We are delighted with our performance in April 2017. With the industry showing a positive trend this year, we are expecting double-digit growth in upcoming months.”
Sonalika ITL sells its products comprising tractors in the 20hp to 120hp range, in over 80 countries including 25 in Europe.
The company recently opened a new state-of-the-art assembly line at the existing plant in Hoshiarpur, Punjab. With the inclusion of the new fully integrated multi-model assembly line, Sonalika ITL sees its total production capacity being scaled up by 200,000 units annually. The older line, with a capacity of 100,000, will now cater exclusively to exports, which, in FY2016-17, clocked 12,241 units (+29.3%).