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Sonalika records Highest Domestic Growth in Industry at 41.6 per cent; Surpasses Industry Growth (est. 26.7 per cent) in FY'21

April 01, 2021 23:30 IST | ANI Press Release
Tennis player James Blake
Dr Deepak Mittal, Managing Director, Sonalika Group

New Delhi, [India], April 1 (ANI/NewsVoir): After consistently achieving records of excellence month after month in FY'21, Sonalika Tractors has added yet another feather of superlative achievement to the hat of its glorious journey.

Sonalika has recorded its highest-ever annual sales of 1,39,526 tractors in FY'21 and among the leading market share gainers in the industry. The company has registered a phenomenal domestic growth rate of 41.6 per cent over FY'20 volumes, which is the highest in industry and beaten industry growth (est.26.7 per cent) by a significant margin. Alongside, Sonalika has recorded its highest-ever annual rotavator sales of 50,000 units in FY'21, recording double the volumes registered in FY'20. Overall, Sonalika Tractors has sold 13,093 tractors in March'21, registering a whopping 135 per cent growth over March'20.

Commenting on the superior performance in export markets, Dr. Deepak Mittal, Managing Director, Sonalika Group, said, "I am very pleased to see the extraordinary outcome this year. Our strong foundation has served as a unique platform for the company to continue recording extraordinary results even in the most challenging year and we have become the first Indian tractor company to cross 22,000 tractors exports in a single year. This success is credited to the committed team along with our distributors, dealers, financiers, and loyal customers who stayed connected and performed in the markets under adverse conditions without much travel or physical connect. We are proud of our market leadership in 6 countries and close second in another 5."

Upbeat about the company's performance, Raman Mittal, Executive Director, Sonalika Group, said, "Achieving a significant landmark of phenomenal domestic growth of 41.6 per cent in FY'21, which is highest in industry and surpassing industry growth (est. 26.7 per cent) by a significant margin amidst the most challenging year is a testimony that we have laid a strong foundation to remain closely knitted with our farmers and the society at large, which has only strengthened with time."

"Our plans were not deterred by the external unforeseen situations as we have always remained consistent with our approach to grow and serve our customers. Our innate ability to re-engineer our approach across all business functions powered us to come out as a clear winner month after month, throughout the year."

He added, "Our pace of transformation during the year has been faster than ever before across various verticals."

Manufacturing - We were among the first ones to start production within all the prescribed safety protocols and attained full capacity operations within 2 months.

Sales - We have widened our channel network at a pace faster than ever before (145+ new channel partners added), thereby strengthening our national presence.

R & D and Product Innovation - Introduced the highest number of products during the year (6 new models), including the much talked out Tiger Electric model, and our regional technology introductions Mahabali and Chhatrapati, while constantly upgrading products with the latest technology features like 4 wheel drive technology, multi-speed transmission and precision 5G hydraulics.

Customer Care - Rolled out the 3X2 service to reach consumers closer to their farms and extended warranty of all tractors during the COVID-19 period.

Marketing - Pivoted our farmer-centric marketing programs on digital as well as other media platforms with high responsiveness.

Finance - We re-strategized our financial discipline to control unnecessary cost escalations arising due to unforeseen situations.

HR - We ensured 100 per cent wages to the labour and also rolled out employee welfare initiatives as support to households whose families were impacted by the pandemic.

CSR - A host of new initiatives were rolled out viz. dedicated 2 isolation centers (Delhi and hoshiarpur), Corona mobile testing van, PPE kits, sanitisation drives across states, developed ventilator system and many more.

Every single parameter of our business functions worked cohesively towards setting up new benchmarks of performance. We remain committed to bring technologically advanced products for our farmers and lead them to farm prosperity. "

Sonalika Tractors, one of India's leading tractor manufacturers and the No. 1 Exports brand from India, has established its robust presence in the domestic as well as in over 130 countries with 11 lakh+ customers. Sonalika manufactures the widest heavy-duty tractor range in 20-120 HP and 70+ implements at its Hoshiarpur facility in Punjab that caters to the varied needs of customers across the globe. Being a farmer-centric brand, the Govt. of India has chosen Sonalika as the only tractor brand to contribute to the Niti-Aayog for its inspirational project of doubling the farmer's income in the country.

No. 1 Heavy Duty Customised Crop Solutions

Sonalika tractor portfolio is customised as per the needs is equipped with efficient engines which give higher power output and remain affordable with low maintenance for a better total cost of ownership and experience. Sonalika is the leading brand in more than 50 HP tractor segments and is strengthening its presence in more than 40HP segments to achieve the leadership position.

As the farm mechanisation expert, Sonalika Agro Solutions offers a wide range of implements to address various stages of the crop cycle ranging from land preparation to post-harvesting operations including residue management. Sonalika has also forayed into Custom Hiring Centres, a platform that offers small and marginal farmers access to advanced Agri machinery on rent, thereby aims to increase farm output in a cost effective way. The company has introduced the 'Agro Solutions' app for easy access of requisite machinery to farmers, thereby promoting farm mechanization in the country.

No. 1 Exports Brand from India

Sonalika is the No. 1 Exports brand from India and is proudly associated with 1.25 lakh customers in markets outside India, a true sign of acceptability of an Indian company across 130 countries. Having a 100 per cent presence across all European countries, our tractors are successfully operated by more than 20,000 satisfied customers in diversified European conditions. Sonalika has also set up a spare parts centre in Germany that caters to the regional requirements with an aim to provide better service and customer satisfaction.

The Hoshiarpur plant of Sonalika is the World's No. 1 vertically integrated tractor manufacturing plant that is designed to manufacture customised farm machinery as per the farmer's crop-specific applications. The facility is fully equipped to manufacture almost every element in-house which goes in the making of a tractor and is powered by robotic as well as automation.

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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Sonalika records Highest Domestic Growth in Industry at 41.6 per cent; Surpasses Industry Growth (est. 26.7 per cent) in FY'21

New Delhi, [India], April 1 (ANI/NewsVoir): After consistently achieving records of excellence month after month in FY'21, Sonalika Tractors has added yet another feather of superlative achievement to the hat of its glorious journey.

Sonalika has recorded its highest-ever annual sales of 1,39,526 tractors in FY'21 and among the leading market share gainers in the industry. The company has registered a phenomenal domestic growth rate of 41.6 per cent over FY'20 volumes, which is the highest in industry and beaten industry growth (est.26.7 per cent) by a significant margin. Alongside, Sonalika has recorded its highest-ever annual rotavator sales of 50,000 units in FY'21, recording double the volumes registered in FY'20. Overall, Sonalika Tractors has sold 13,093 tractors in March'21, registering a whopping 135 per cent growth over March'20.

Commenting on the superior performance in export markets, Dr. Deepak Mittal, Managing Director, Sonalika Group, said, "I am very pleased to see the extraordinary outcome this year. Our strong foundation has served as a unique platform for the company to continue recording extraordinary results even in the most challenging year and we have become the first Indian tractor company to cross 22,000 tractors exports in a single year. This success is credited to the committed team along with our distributors, dealers, financiers, and loyal customers who stayed connected and performed in the markets under adverse conditions without much travel or physical connect. We are proud of our market leadership in 6 countries and close second in another 5."

Upbeat about the company's performance, Raman Mittal, Executive Director, Sonalika Group, said, "Achieving a significant landmark of phenomenal domestic growth of 41.6 per cent in FY'21, which is highest in industry and surpassing industry growth (est. 26.7 per cent) by a significant margin amidst the most challenging year is a testimony that we have laid a strong foundation to remain closely knitted with our farmers and the society at large, which has only strengthened with time."

"Our plans were not deterred by the external unforeseen situations as we have always remained consistent with our approach to grow and serve our customers. Our innate ability to re-engineer our approach across all business functions powered us to come out as a clear winner month after month, throughout the year."

He added, "Our pace of transformation during the year has been faster than ever before across various verticals."

Manufacturing - We were among the first ones to start production within all the prescribed safety protocols and attained full capacity operations within 2 months.

Sales - We have widened our channel network at a pace faster than ever before (145+ new channel partners added), thereby strengthening our national presence.

R & D and Product Innovation - Introduced the highest number of products during the year (6 new models), including the much talked out Tiger Electric model, and our regional technology introductions Mahabali and Chhatrapati, while constantly upgrading products with the latest technology features like 4 wheel drive technology, multi-speed transmission and precision 5G hydraulics.

Customer Care - Rolled out the 3X2 service to reach consumers closer to their farms and extended warranty of all tractors during the COVID-19 period.

Marketing - Pivoted our farmer-centric marketing programs on digital as well as other media platforms with high responsiveness.

Finance - We re-strategized our financial discipline to control unnecessary cost escalations arising due to unforeseen situations.

HR - We ensured 100 per cent wages to the labour and also rolled out employee welfare initiatives as support to households whose families were impacted by the pandemic.

CSR - A host of new initiatives were rolled out viz. dedicated 2 isolation centers (Delhi and hoshiarpur), Corona mobile testing van, PPE kits, sanitisation drives across states, developed ventilator system and many more.

Every single parameter of our business functions worked cohesively towards setting up new benchmarks of performance. We remain committed to bring technologically advanced products for our farmers and lead them to farm prosperity. "

Sonalika Tractors, one of India's leading tractor manufacturers and the No. 1 Exports brand from India, has established its robust presence in the domestic as well as in over 130 countries with 11 lakh+ customers. Sonalika manufactures the widest heavy-duty tractor range in 20-120 HP and 70+ implements at its Hoshiarpur facility in Punjab that caters to the varied needs of customers across the globe. Being a farmer-centric brand, the Govt. of India has chosen Sonalika as the only tractor brand to contribute to the Niti-Aayog for its inspirational project of doubling the farmer's income in the country.

No. 1 Heavy Duty Customised Crop Solutions

Sonalika tractor portfolio is customised as per the needs is equipped with efficient engines which give higher power output and remain affordable with low maintenance for a better total cost of ownership and experience. Sonalika is the leading brand in more than 50 HP tractor segments and is strengthening its presence in more than 40HP segments to achieve the leadership position.

As the farm mechanisation expert, Sonalika Agro Solutions offers a wide range of implements to address various stages of the crop cycle ranging from land preparation to post-harvesting operations including residue management. Sonalika has also forayed into Custom Hiring Centres, a platform that offers small and marginal farmers access to advanced Agri machinery on rent, thereby aims to increase farm output in a cost effective way. The company has introduced the 'Agro Solutions' app for easy access of requisite machinery to farmers, thereby promoting farm mechanization in the country.

No. 1 Exports Brand from India

Sonalika is the No. 1 Exports brand from India and is proudly associated with 1.25 lakh customers in markets outside India, a true sign of acceptability of an Indian company across 130 countries. Having a 100 per cent presence across all European countries, our tractors are successfully operated by more than 20,000 satisfied customers in diversified European conditions. Sonalika has also set up a spare parts centre in Germany that caters to the regional requirements with an aim to provide better service and customer satisfaction.

The Hoshiarpur plant of Sonalika is the World's No. 1 vertically integrated tractor manufacturing plant that is designed to manufacture customised farm machinery as per the farmer's crop-specific applications. The facility is fully equipped to manufacture almost every element in-house which goes in the making of a tractor and is powered by robotic as well as automation.

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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