Sonalika Tractors has clocked its best Q1 overall sales of 41,465 tractors. The company has also achieved its best June performance in domestic market with 14,062 tractor sales, the press release noted.
This includes sales growth of 16.6% and market share gain of 1.4 percentile points, which is highest among all tractor brands. The company sold 12,056 tractors in domestic market in June’23, the release further noted.
Raman Mittal, Joint Managing Director, International Tractors Limited, said, ‘We are elated to achieve our best ever Q1
performance in FY25 with the highest ever overall sales of 41,465 tractors and highest ever Q1 overall market share of 14.4% (est.) as well as recorded 2X growth over industry
performance.
This is powered by a staggering June 2024 domestic market performance of
14,062 tractor sales, marking a record sales growth of 16.6% and a market share gain of 1.4% percentile points, both being the highest among all the tractor brands.
The early arrival of the monsoon in India has brought positive sentiments in the Indian agri sector as Kharif acreage has picked up by over 30% in FY25. La Nina conditions are likely to pick up pace in the second half of the monsoons and should cover up the on-going deficiency in the monsoon precipitation.