With a 12% market share, the current revenue stands at $660 million (Rs 4,169 crore).
28 Jan 2016 | 15136 Views | By Autocar Pro News Desk
Sonalika International Tractors, the third largest tractor manufacturing company in India, has announced that it aims to double its revenue by 2020. The company produces tractors between 20hp to 120hp.
With a market share growth rate of 50%, the company says it has been able to achieve 12% market ...
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Sonalika International Tractors, the third largest tractor manufacturing company in India, has announced that it aims to double its revenue by 2020. The company produces tractors between 20hp to 120hp.
With a market share growth rate of 50%, the company says it has been able to achieve 12% market share in India in the last four years. By 2020, the company aims to double its revenue from the current $660 million (Rs 4,169 crore).
The company says it is the leading brand in Haryana and Himachal Pradesh and amongst the top three leading brands in J&K, Punjab, Haryana, Chhattisgarh, Jharkhand, West Bengal, Maharashtra, Gujarat, Rajasthan, Assam and Orissa.
“With our customer-centric approach, our focus has always been to empower farmers by providing solutions/ products that will enhance their agricultural productivity. Sonalika ITL is today amongst the top three tractor manufacturing companies and one of the fastest growing tractor manufacturing companies in the country. We are aiming to double our revenue from $660 million by 2020,” says Raman Mittal, executive director, Sonalika International Tractors.
Sonalika ITL’s integrated tractor manufacturing plant in Hoshiarpur, Punjab, has a production capacity of 200,000 tractors annually. The plant houses all facilities from engine to assembly, under one roof and is equipped to manufacture everything from sheet plastics, sheet metals, transmission, engines to the entire tractor. The robotic paint facility for base and top coat has been introduced for the first time in the tractor industry in India.
The company says its R&D centre is equipped with highly skilled and experienced manpower who have developed product platforms ranging from 20hp to 120hp catering to both the domestic and international markets.
Sonalika ITL has a robust global presence and exports its tractors to over 80 countries. It has aggressive expansion plans to tap Russia and CIS markets and increase its footprint in European and non-European countries.