Sonalika Tractors sales grow 48% to 15,200 units in June, exports up 3.4%

Sonalika Tractors on Thursday reported 47.8 per cent increase in its total tractor sales at 15,200 units in June. The company had sold 10,286 units in the same month last year, Sonali Tractors said in a statement.

Domestic sales were at 13,691 units as against 8,827 units in June last year, a growth of 55.1 per cent, it said.

Exports during the month stood at 1,509 units as compared to 1,459 units, up 3.4 per cent, the company said.

Commenting on the sales performance, Sonalika Group Executive Director Raman Mittal said the company's investment in the vertically integrated manufacturing unit helped it to ramp up production within a very short span of lockdown relaxation.

"We had already reached 80 per cent utilisation in the fourth week of May itself and in June we continued to operate at optimum level," he said.

He further said the company had "a series of new products that were launched during this period, which have helped the farmers immensely to increase their productivity, reflecting in volume gain for our tractors."

On the outlook, he said tractor demand and farmers' sentiments have picked up on account of various conducive factors like government initiatives including increase in the minimum support price, favourable monsoons and bumper sowing of summer crops.

"The farmers are happy with the money in their hands on account of a good rabi harvest.This positive sentiments are expected to continue and we are well positioned to gain from the same," Mittal said.