Company records overall growth of 5 per cent in Q1 which is highest for the industry.
Sonalika Tractors has reported new record of ever highest domestic sales of 13,691, registering 55 per cent growth against the industry growth of 23 per cent and overall sales of 15,200 tractors & 15.4 per cent market share in June’20
The jump in sales is being attributed to good summer crops and the measures announced by the Central government. Experts also believe that life was less affected in rural areas due to COVID-19 and, thus agricultural activities did not stop and, thus farmers were able to get good crops and revenue for their produce which has also helped in the sales. The IMD’s prediction of a good monsoon has also instilled confidence in the farmer and the tractor market.
Speaking on the performance, Raman Mittal, Executive Director, Sonalika Group, said, “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 per cent 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.”
Mittal also said that the company focused its efforts on key areas that helped the company immensely. “We had already reached 80 percent utilization in the fourth week of May itself and in June we continued to operate at the optimum level,” he said.
