Sonalika with highest ever Q1 FY'24 overall sales of 40,700 tractors; records highest ever market share gain by surpassing domestic industry growth
Jul 03, 2023
PNN
New Delhi [India], July 3: India's No. 1 tractor export brand, Sonalika Tractors has continued its strong legacy in the innovation streak while catering to the dynamic needs of farmers. The company has raced ahead in FY'24 and recorded its highest ever Q1 overall sales of 40,700 tractors to beat domestic industry growth. Sonalika's heavy duty tractors and region centric approach have carried forward its growth momentum from FY'23 in Q1 FY'24 with high consistency that has positioned it well for upcoming seasons.
Monsoon season has rapidly expanded its pace in major parts of the country, which is a healthy sign for farming and groundwater replenishment in India. Alongside, various government subsidies and MSP support have been vital to support farmers to make their farming profitable. Being at the forefront to strengthen farmers, Sonalika Tractors remains passionate to empower them with its heavy duty tractor range that ensures tech-enabled yet affordable farming in India. Tailored in the World's No.1 tractor manufacturing plant, Sonalika's widest tractor range in 20-120 HP is currently trusted by 14+ lakh farmers in 150+ countries.
Raman Mittal, Joint Managing Director, International Tractors Limited, said, "Our 'Farmers First' approach continues to have a controlled grip over FY'24 and has enabled us to clock our highest ever Q1 overall sales of 40,700 tractors, surpassing domestic industry growth. Our best in class innovation and world class quality drive in heavy duty tractors will remain focused to support farmers attain maximum productivity as our bond with them is further reinforced with our latest achievement.
Monsoons have already reached over 80% of India which is a healthy sign as above average rainfall will also lead to higher water levels in the reservoirs and collectively allow agri activities to proliferate. Moreover, the recent uptick in MSP across all Kharif crops will not just ensure security to Indian farmers but also encourage farmers to diversify and cultivate diverse crops."
(Disclaimer: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
