Punjab-based International Tractors Ltd, the third largest tractor manufacturer in India and the flagship company of Sonalika Group has registered record sales growth in the current financial year.
The company has sold more than 50,000 tractors (Sonalika Brand) in the financial year 2010-11, 42 per cent more when compared to 35,000 units sold in the previous financial year. This massive growth has provided Rs 2,000 crore extra revenue to the company.
The growth in sales has been registered both at the national and international levels. The company has also got a huge boost in its export. The company’s exports have grown 40 per cent compared to the previous financial year.
Majority of the Sonalika tractor exports are to North African countries. South American and European countries are the other importers. In order to cater to the demand, the company has started four assembly lines, two each in Africa and South America.
The company has executed a major international order from Cameroon worth $40 million for export of 1,000 tractors and 4,500 units of agricultural machinery.
The company has also exported a good number of tractors to Serbia. Argentina and Brazil also have a huge demand for Sonalika Tractors.
About the sales growth Sonalika Group Vice Chairman A S Mittal said, “It is a great achievement to touch 50,000 units sales in a financial year. Sonalika tractors are in huge demand in national as well as international market. In order to meet the growing demand we are expanding our production capacity. We have started a new production unit in Bihar and have also expanded the production capacity of our Hoshiarpur unit.”