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By MT Bureau| Apr 01, 2021

Sonalika Records Highest Ever Annual Sales in FY21

Sonalika recorded its highest ever annual sales of 1,39,526 tractors in FY 2021.

Sales increased by 41.6% over FY’20 volumes, which is highest in industry and beaten industry growth (est.26.7%) by a significant margin. Sonalika also 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% 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 the 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% in FY’21, which is highest in industry and surpassing industry growth (est. 26.7%) 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." (MT)

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