Sonalika eyes sales of 1 lakh units this fiscal

Tractor major Sonalika International Tractors today said it is aiming to sell 1 lakh units in the current financial year.

"We are targeting the sale of one lakh tractors in the current financial year," the firm's Deputy Country Head Vivek Goel told reporters here.

He said the company sold 80,000 tractors, including 11,000 units in overseas markets, during last fiscal.

"In the first quarter of this fiscal, we have already sold 25,000 units," Goel further said.

The company claims to be the leader in 50 HP-plus category in Punjab and Haryana with a market share of 31.7 per cent and 38.7 per cent, respectively.

In Punjab, the company registered a growth of 19.9 per cent in total sales in April-July by selling 1,259 tractors as compared to 1,050 units in the same period last year.

"We attribute our growth in the region to likely above average monsoon and higher minimum support price of crops (MSPs). The company has already emerged as leader in over 50 HP category which is dominated by progressive farmers across the country...," Goel said.

"The company offers customised solutions for farmers in Punjab like high speed gear box... Features like multi-speed heavy duty gear box make these tractors most preferred for potato farming as well as for commercial usage," he said.

Recently, Sonalika inaugurated an integrated tractor manufacturing plant in Hoshiarpur (Punjab).

The plant is spread over more than 85 acres and is fully equipped to manufacture three lakh units, ranging from 20HP to 120HP tractors, with a rollout time of around two minutes.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)