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Sonalika records 55 percent domestic growth, surpasses 23 percent industry growth in June

ANI Press Release 

Tennis player James Blake
Sonalika Mar 201940213

New Delhi [India], July 2 (ANI/NewsVoir): India's one of the leading tractor manufacturing brand and number one exporter from the country, Sonalika Tractors outpaces industry by 2.4X times and with a new record of ever highest domestic sales of 13,691, registering 55 per cent growth against industry growth of 23 per cent and overall sales of 15,200 tractors and 15.4 per cent market share in June'20.

"Beginning of Q1 this year when the first ever lockdown was announced we as a company had decided to put all our energies with positive effort to try not to de-grow in Q1. Today, the entire team is feeling proud that we have not just achieved our goal but also have registered an overall growth of 5% in Q1 which is highest for the industry. It is a matter of great pride for us that not only in tractor industry but also in automotive, two-wheeler and CV industry, Sonalika is the only company to register maximum growth in these tough times. We are extremely delighted with the overall robust performance in June'20 with 15200 tractors which is our highest ever," said Raman Mittal, Executive Director, Sonalika Group, while speaking on the performance.

"The key to our success rests on four areas:

First, our investment in the largest vertical integrated manufacturing unit which has helped us to ramp up our production within a very short span. We had already reached 80% utilization in Wk4 May itself and in June we continued to operate at optimum level.

Second, being a tech savvy company, our entire supply chain is technologically enabled. We have a complete end to end supply chain management solution in-house. All our 24 depots spread across the states are inter-connected enabling us to keep a track of the tractor delivered on real time basis and we manage our production as per the consumption. This has helped us to maintain optimum level of stocks across our depots and dealerships.

Third, our focus to keep innovating, developing and launching new product continued during the time of COVID-19. We 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.

Fourth, we keep strengthening our coverage. Last year, we widened our existing network of channel partners and are continuing to do so even now. With this we have the largest network of channel partners, as wherever there was a business opportunity our teams were present to capitalize on the same," he added, while commenting on the winning strategy.

"The tractor demand and farmer's sentiments have picked up on account of various conducive factors like government initiatives including increase in MSP 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. We are the number one brand in exports from India, thus making our Nation proud globally. We take pride as Indians and are ready to challenge any situation with Sonalika's Passion and Unstoppable spirit. All our efforts and actions are set to continue on this growth journey for our great Nation," he said, while speaking on Sonalika's future plans.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, July 02 2020. 23:31 IST
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Sonalika records 55 percent domestic growth, surpasses 23 percent industry growth in June

New Delhi [India], July 2 (ANI/NewsVoir): India's one of the leading tractor manufacturing brand and number one exporter from the country, Sonalika Tractors outpaces industry by 2.4X times and with a new record of ever highest domestic sales of 13,691, registering 55 per cent growth against industry growth of 23 per cent and overall sales of 15,200 tractors and 15.4 per cent market share in June'20.

New Delhi [India], July 2 (ANI/NewsVoir): India's one of the leading tractor manufacturing brand and number one exporter from the country, Sonalika Tractors outpaces industry by 2.4X times and with a new record of ever highest domestic sales of 13,691, registering 55 per cent growth against industry growth of 23 per cent and overall sales of 15,200 tractors and 15.4 per cent market share in June'20.

"Beginning of Q1 this year when the first ever lockdown was announced we as a company had decided to put all our energies with positive effort to try not to de-grow in Q1. Today, the entire team is feeling proud that we have not just achieved our goal but also have registered an overall growth of 5% in Q1 which is highest for the industry. It is a matter of great pride for us that not only in tractor industry but also in automotive, two-wheeler and CV industry, Sonalika is the only company to register maximum growth in these tough times. We are extremely delighted with the overall robust performance in June'20 with 15200 tractors which is our highest ever," said Raman Mittal, Executive Director, Sonalika Group, while speaking on the performance.

"The key to our success rests on four areas:

First, our investment in the largest vertical integrated manufacturing unit which has helped us to ramp up our production within a very short span. We had already reached 80% utilization in Wk4 May itself and in June we continued to operate at optimum level.

Second, being a tech savvy company, our entire supply chain is technologically enabled. We have a complete end to end supply chain management solution in-house. All our 24 depots spread across the states are inter-connected enabling us to keep a track of the tractor delivered on real time basis and we manage our production as per the consumption. This has helped us to maintain optimum level of stocks across our depots and dealerships.

Third, our focus to keep innovating, developing and launching new product continued during the time of COVID-19. We 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.

Fourth, we keep strengthening our coverage. Last year, we widened our existing network of channel partners and are continuing to do so even now. With this we have the largest network of channel partners, as wherever there was a business opportunity our teams were present to capitalize on the same," he added, while commenting on the winning strategy.

"The tractor demand and farmer's sentiments have picked up on account of various conducive factors like government initiatives including increase in MSP 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. We are the number one brand in exports from India, thus making our Nation proud globally. We take pride as Indians and are ready to challenge any situation with Sonalika's Passion and Unstoppable spirit. All our efforts and actions are set to continue on this growth journey for our great Nation," he said, while speaking on Sonalika's future plans.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
image
Business Standard
177 22

Sonalika records 55 percent domestic growth, surpasses 23 percent industry growth in June

New Delhi [India], July 2 (ANI/NewsVoir): India's one of the leading tractor manufacturing brand and number one exporter from the country, Sonalika Tractors outpaces industry by 2.4X times and with a new record of ever highest domestic sales of 13,691, registering 55 per cent growth against industry growth of 23 per cent and overall sales of 15,200 tractors and 15.4 per cent market share in June'20.

"Beginning of Q1 this year when the first ever lockdown was announced we as a company had decided to put all our energies with positive effort to try not to de-grow in Q1. Today, the entire team is feeling proud that we have not just achieved our goal but also have registered an overall growth of 5% in Q1 which is highest for the industry. It is a matter of great pride for us that not only in tractor industry but also in automotive, two-wheeler and CV industry, Sonalika is the only company to register maximum growth in these tough times. We are extremely delighted with the overall robust performance in June'20 with 15200 tractors which is our highest ever," said Raman Mittal, Executive Director, Sonalika Group, while speaking on the performance.

"The key to our success rests on four areas:

First, our investment in the largest vertical integrated manufacturing unit which has helped us to ramp up our production within a very short span. We had already reached 80% utilization in Wk4 May itself and in June we continued to operate at optimum level.

Second, being a tech savvy company, our entire supply chain is technologically enabled. We have a complete end to end supply chain management solution in-house. All our 24 depots spread across the states are inter-connected enabling us to keep a track of the tractor delivered on real time basis and we manage our production as per the consumption. This has helped us to maintain optimum level of stocks across our depots and dealerships.

Third, our focus to keep innovating, developing and launching new product continued during the time of COVID-19. We 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.

Fourth, we keep strengthening our coverage. Last year, we widened our existing network of channel partners and are continuing to do so even now. With this we have the largest network of channel partners, as wherever there was a business opportunity our teams were present to capitalize on the same," he added, while commenting on the winning strategy.

"The tractor demand and farmer's sentiments have picked up on account of various conducive factors like government initiatives including increase in MSP 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. We are the number one brand in exports from India, thus making our Nation proud globally. We take pride as Indians and are ready to challenge any situation with Sonalika's Passion and Unstoppable spirit. All our efforts and actions are set to continue on this growth journey for our great Nation," he said, while speaking on Sonalika's future plans.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22