The company's notable Q1 performance represents a 2X growth over the industry's average. In June 2023, the company sold 12,056 tractors domestically, which contributed significantly to its robust quarterly figures.
Raman Mittal, Joint Managing Director of International Tractors Limited, expressed his satisfaction, stating, "We are elated to achieve our best ever 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 market share gain of 1.4% percentile points, both being the highest among all the tractor brands."
The positive sentiment in India's agricultural sector due to the early arrival of monsoon has been a contributing factor. Kharif crops acreage has increased by over 30% in FY '25, boosting the demand for agricultural machinery.
Mittal also commented on this factor, "Early arrival of the monsoon in India has brought in positive sentiments in the Indian agri sector as Kharif acreage has picked up by over 30% in FY’25. Sonalika takes pride in being among frontrunners that boost agricultural development in India with our disciplined and qualitative approach."
Sonalika Tractors' performance highlights its commitment to delivering powerful and fuel-efficient tractors, reinforcing its position as a frontrunner in India's tractor industry.
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