Sonalika Goal: Double Sales in Five years. Plans to Invest Rs 450 Crore
To meet the sales target of 200,000 tractors by fiscal 2023, the company is focusing on new areas and developing new range of tractors.
PSR Analysis: Sonalika crossed one lakh units sales milestone in FY2017-18 and appears bullish on next level of growth by investments for developing and introducing new products, expanding into new markets, meeting future emission norms.
India offers a huge opportunity for the tractor industry as tractor availability at 20 per 1,000 hectares is quite low. While India has 670,000 villages, industry-wide sales have never crossed the number of one sale per village in a year, hence the potential to grow is huge. PSR