New Delhi: Homegrown tractor manufacturer Sonalika International Tractors is formulation to double a sales in a subsequent 5 years from a 100,000 units it sole in mercantile 2018, a tip executive said.
To accommodate a aim and destiny glimmer rules, a tractor manufacturer has designed an investment of Rs 450 crore in a subsequent dual years. Out of this, Rs 250 crore will be invested in production and dies for new components such as piece steel parts, cosmetic tools and housings. The remaining Rs 200 crore will go into building a new RD centre and glimmer contrast labs in a National Capital Region.
Sonalika is a third largest tractor manufacturer in India after Mahindra Mahindra and TAFE, and has a marketplace share of 12%.
“We are formulating a new RD (centre) in Noida. We are in a proviso where we are regulating a stream resources,” pronounced Raman Mittal, executive executive of Sonalika Tractors. “We have hired people and are building new skill for a RD centre. We have one site any in Noida and Delhi. Around 50 people are now operative and we are serve formulation to supplement 100 some-more people in a RD centre this year. The RD centre will work toward new projects, destiny emissions, and destiny drivelines.”
Sonalika achieves record sales of 300,00 tractors in Q1FY19
To accommodate a sales aim of 200,000 tractors by mercantile 2023, a association is focusing on new areas and building a operation of specialised tractors for potato, vineyard and orchard farming. It is also operative on new-generation higher-horsepower tractors for multi-applications like H2O pumping and harvesting.
In a initial entertain of mercantile 2019, it available a top altogether sales of 30,000 units, adult 20% from a year progressing period.
The company, that has an integrated tractor production plant during Hoshiarpur in Punjab, sole 12,286 tractors in Jun alone, roughly a third some-more than a 9,286 units it sole in a same month final year.