Rajkot-based Captain Tractors Pvt. Ltd. (CTPL), one of the first companies to launch mini tractors in India, is planning to introduce three new models in the next two years.
"We are going to launch three new models in mini tractor segment. After success of our 11.8 hp and 9.5 hp tractors, we will introduce 16.5 hp, 7.5 hp and four-wheel drive models in the upcoming two years," said Rajesh Patel, director, CTPL.
.Out of these, one model will be launched by end of this year.
“The company started Research and Development (R&D) in 1994 and after rigorous efforts of 4 years, the first successful mini tractor with 9.5 H.P. engine was rolled out in 1998. CTPL is the pioneer in introducing mini tractors in the country. We have already invested Rs 10 crore in this project and will invest further as per requirement.”
The Indian market is estimated to be about three lakh units per year and there are about 18 players present.
"However, while the share of mini tractors is very low in it, things will soon change as farms are getting smaller by the day. India has around 80 million farmers who have less than one acre land for farming. For them, mini tractor is the best option for cultivation as it is cost effective," he said.
The investment for rolling out three new models will not be very huge as the company already has additional capacity to utilise.
"We already have facility for higher production. At present, the company has production capacity of 300 units per month but produces 100 units per month. We will invest Rs 3-5 crore for these new models," said Maganbhai Patel, managing director, CTPL.
CTPL has network in eight state of India also export to the 10 countries including Australia, and African countries.
The company is also manufacturing 30 types of agriculture equipment. Last year CTPL's turnover touched Rs 20 crore and for current financial year it targets Rs 25 crore turnover.
CTPL has about 60 percent market share in mini tractor segment. Recently company got award for best R&D and entrepreneurship from Ministry of Micro, Small and Medium Enterprises, India.
