~ Export grew by 20% in the first 7 months in FY 16-17 ~
Chandigarh, November 1, 2016: Sonalika ITL, one of the top 3 tractor players in India, reports 70% growth in their exports in Oct 2016 month vs. Oct 2015. The company has exported 1248 tractors this year, against 735 tractors that were exported last year during the same period.
While the growth rate of Sonalika ITL is rising phenomenally with every passing year, the export division alone has registered a growth of 20% in last 7 months, starting April to October’16. In last 7 months company has exported 7056 Tractors as compared to 5939 Tractors in same period last year.
Commenting on the performance, Mr. Deepak Mittal, M.D., Sonalika ITL said, “It’s a proud moment for us to achieve a growth of 70% in October vs. the October of last year. During this time, we have made successful inroads into most developed tractor markets of the world. Seeing interest of many countries towards the agriculture mechanization, we firmly believe that coming future will further fuel the growth in the export market.
Sonalika ITL has been a pioneer from India in introducing newer technologies like CRDi technology complying with the most stringent European and American emission norms. Their sub compact tractor models, Solis 20hp and Solis 26hp, are very successful in the European market, along with the narrow tractor range Solis 60hp to Solis 90hp, which are best suited for orchard and vineyard application. Sonalika ITL has also pioneered the introduction of higher HP tractors like 110hp and 120hp to Global customers before any other company of Indian origin. The company takes pride in being the No.1 brand in Africa apart from being market leaders in countries like Algeria, Nepal and Myanmar.
About Sonalika International Tractors Ltd:
Sonalika International Tractors Ltd. is the country’s only full range tractor manufacturing company which produces technologically superior tractors in a range of 20HP to 120HP. Today, Sonalika ITL stands as 3rd largest tractor maker in India and is recognized in both domestic as well as international markets as a formidable player. The company has earned the trust of over 6,00,000 customers globally across more than 80 Countries within a short span of 2 decades; which makes it one of the fastest growing tractor players in the industry.
To fulfill the increasing demand of tractors globally, Sonalika ITL boasts of Sonalika World Plant, a state-of-the-art integrated tractor manufacturing plant, strategically located in Hoshiarpur, Punjab. This plant has a capacity to manufacture more than 150,000 tractors annually.