Sonalika Tractors has clocked its highest ever Q1 sales in FY23, selling 39,274 tractors which is a growth of 18 per cent compared to 33,215 units sold in the same period a year ago. The company said that despite unprecedented heat wave affecting crop production across the country, the MSP uptick from government side facilitated healthy rural cash flow, thereby driving tractor overall demand in Q1 FY23. As monsoon continues expand base across the country, Sonalika Tractors will is expecting even robust sales in the present quarter and will strengthen its reach in a bid to support farmers in their everyday farming challenges.
Raman Mittal, Executive Director- Sonalika Group
Commenting on achieving the new Q1 performance milestone, Raman Mittal, Joint Managing Director, International Tractors Limited, said, "Delivering on farmer's expectations month after month empowers us to set new benchmarks both in terms of product as well as performance. Achieving our highest ever Q1 overall sales of 39,274 units with 18 per cent growth is a testament that we understand farmers and their regional market requirements well, which subsequently boils down to reinforced farmer trust in brand Sonalika. Strategically supported by our unique approach of customising our tractor portfolio, I am optimistic that we have set our FY'23 course in right direction for upcoming seasons later during the year. Sonalika Tractors will continue to address regional farmer requirements to ensure high productivity and income for their buoyant future."
In February this year, Sonalika Tractors also became the largest tractor export brand in India recording an impressive year-to-date (YTD) growth of 60.1 per cent in the April 2021 - January 2022 period. The company exported 28,722 units between April 2021 and January 2022 as compared to 17,938 units exported in the same period a year ago. In January 2022, Sonalika Tractors exported 3,022 units as compared to 2,004 units exported in the same month a year ago, thereby recording a growth of 50.8 per cent.
