Sonalika Tractors, one of the leading manufacturers of tractors, sold 33,219 units in the first quarter of FY22, the highest ever for the company in the three-month period, despite adverse impact of the second wave of covid-19.
The company reported a 30% year-on-year jump in volumes on the back of low base in the first quarter of last year.
The tractor industry led India’s economic recovery from the front after the first lockdown in 2020. Sonalika Tractors dominated the sector throughout the year, outpacing the industry’s growth consistently. Carrying forward the momentum of FY21 to launch maximum revolutionary products, Sonalika Tractors is fully geared up to launch maximum new tractors even in FY22, the company said in a statement.
“I want to thank farmers for their unshakeable faith in our customised heavy duty tractor range. This faith has made us grow stronger and faster as we have registered highest ever Q1 cumulative tractor sales at 33,219 units with 30.6% growth even during the testing times of covid-19,” said Raman Mittal, executive director Sonalika Group.
He also added that as international markets are also opening up, Sonalika’s exports have grown by 90%, which is a sign of economic recovery across the world. The company remains committed to launching revolutionary products in the industry to lead farmers towards farm prosperity.
Ever since the economy opened up from May last year, sales of tractors witnessed faster-than-expected rebound amid a bumper summer crop.
“The government has already extended MSP on Kharif crops by up to 5% and as per predictions of healthy monsoon, this year also we should see healthy demand for tractors, similar to last year. Our customised tractors will set high benchmarks while increasing farmer’s income significantly and steer us faster towards our vision to aid farm mechanization,” added Mittal.
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
