International Tractor posts 42% sales growth in FY11

International Tractor Ltd, the flagship company of Sonalika Group, today reported 42% increase in tractor sales in 2010-11 to 50,000 units.

The company said it had sold 35,000 units sold in the previous financial year 2009-10.

The sales growth was driven by both domestic and international demand, the company said in a statement.

"Punjab, Haryana, Uttar Pradesh, Bihar, Maharashtra, Madhya Pradesh, Karnataka and Andhra Pradesh are major contributor of sales growth of the company in India," it said.

While it did not provide a break-up of its sales in domestic and international markets, the company said its export grew 40% in the last fiscal.

North African, South American and European countries are the main markets of the company's Sonalika brand of tractors, it said.

The firm has started two assembly lines in Africa and two in South America, it added.

Recently, the company had announced execution of $40 million export order to Cameroon for 1,000 tractors and 4,500 agriculture implements.