Hoshiarpur-based tractor company, Sonalika ITL, has registered an overall growth of 27.6 percent in July 2018 with the reported cumulative sales of 6,550 tractors.
The company sold 1,416 units more as compared to the previous year. These figures are inclusive of the export numbers as well. In the domestic front, it claims its highest growth in the month of July by selling 5,656 units this year as against 4,327 units last year, a rise of 30.7 percent.
Commenting on its domestic growth, Raman Mittal, executive director, Sonalika group said, “After achieving ever highest quarter sales in Q1 FY’19, we have reported a profit after tax of Rs 233 crore. Continuing our growth momentum in July’18, we recorded the industry’s highest domestic growth. Our focus to provide customised crop solutions has triggered this growth momentum.”
Sonalika ITL has one of the largest integrated tractor manufacturing plant in Hoshiarpur, Punjab and serves in more than 100 countries apart from India. The company claims to manufacture more than 1,000 variants in the 20-120hp category.