04 July 2024, New Delhi: Sonalika Tractors has clocked its best-ever Q1 overall sales of 41,465 tractors and highest-ever overall market share of 14.4% (est.) as well as recorded 2X growth over industry performance.
The company sold 14,062 tractors in the domestic market in June’24 which translates to sales growth of 16.6% and a market share gain of 1.4 percentile points, which is highest among all tractor brands.
Sharing his thoughts on the record performance, Mr. Raman Mittal, Joint Managing Director, International Tractors Limited, said, ‘We are elated to achieve our best Q1 performance in FY ’25 with the highest ever overall sales of 41,465 tractors and highest ever Q1 overall market share of 14.4% (est.) as well as recorded 2X growth over industry performance. This is powered by a staggering June’24 domestic market performance of 14,062 tractor sales, marking a record sales growth of 16.6% and a market share gain of 1.4% percentile points, both being the highest among all the tractor brands.
The early arrival of the monsoon in India has brought positive sentiments in the Indian agri sector as Kharif acreage has picked up by over 30% in FY’25. La Nina conditions are likely to pick up pace in the second half of the monsoons and should cover up the ongoing deficiency in the monsoon precipitation. Sonalika takes pride in being among the frontrunners that boost agricultural development in India with our disciplined and qualitative approach. Our teams collaborate effectively to brainstorm, design and develop new farm-tech machinery that makes farming more sustainable and are more than keen to play a leading role in the overall progress of our farmers.”
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