PNN
New Delhi [India], January 8: In a moment of immense pride, India's No. 1 tractor export brand Sonalika Tractors has made history by earning a coveted spot in the Fortune 500 India 2024 list among the nation's largest companies. Simultaneously, Sonalika has also become the top 10 Auto brands in India in the prestigious Fortune India listing.
From humble beginnings in the non-industrial town of Hoshiarpur, Punjab in 1996, Sonalika has grown to proudly stand tall among India's 500 largest companies, with an estimated turnover of US$1.1 billion. Since the inception, the brand has been guided by its 3 core principles - offering best-in-class products and services, taking care of its stakeholders and doing ethical business with no shortcuts. Taking each challenge as a stepping stone that fuelled the company's commitment towards the farming community, Sonalika has always followed its debt-free approach to enjoy a strong foothold in 150+ countries.
The heart of Sonalika's success lies in its family-like culture, which extends to every stakeholder--employees, dealers, vendors, and, most importantly, farmers. In its unique journey filled with relentless passion, innovation, and commitment to deliver heavy duty tractors, Sonalika stayed true to its mission to be the torchbearer of technology powered transformation in the farming industry. Following its people-first approach even during the challenges of the COVID-19 pandemic, Sonalika exemplified resilience and empathy by paying salaries, paying vendors in advance and ensuring no layoffs occurred. As an India-origin company trusted by 17+ lakh farmers worldwide, Sonalika has emerged to become India's No. 1 tractor export brand and stand firmly as 3rd largest tractor brand in India - the world's biggest tractor market. The brand proudly owns the world's No.1 integrated tractor manufacturing plant that rolls out a new tractor in 2 minutes, earning its status as a game-changer in modern agriculture.
Sharing his thoughts on this achievement, Sh LD Mittal, Chairman, International Tractors Limited - Sonalika, said, "It is a momentous occasion for the entire Sonalika family. We have debuted into the 'Fortune 500 India 2024' list to stand among the nation's largest companies and are also among the top 10 auto brands in India.
Our phenomenal journey has been transformative - from a non-industrial town of Hoshiarpur, we have emerged to be among the leading global tractor brands that truly reflects on our mission and values that drives us every single day. Following our core principles, of keeping people first, delivering best product & services, and doing ethical business with no shortcuts, we have remained debt free since the inception. This achievement reflects on the values and vision to transform farmer lives through our innovative farm machinery solutions.
We are truly blessed to be among the frontrunners in India's dynamic and vibrant agri ecosystem that consistently offers opportunities to scale new peaks. Our journey to the new milestone is a celebration of the collective efforts of our team, the trust of farmers, collaborative efforts of our dealer partners, and the support of our vendor partners in creating Sonalika's legacy of excellence. We thank every stakeholder for their trust in our brand and will continue to deliver excellence to lead farm mechanisation growth."
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