Sonalika Tractors
{{Short description|Indian agricultural machinery manufacturer}}
{{Infobox company
| name = Sonalika Tractors
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| image = Sonalika Baagban DI-30Rx Tractor Left Front Coorg Feb24 A7C 09555.jpg
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| image_caption = Sonalika DI-30Rx tractor
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| type = Private
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| industry = Agricultural machinery
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| founded = {{Start date and age|1995}}
| founder = Lachhman Das Mittal
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| hq_location =
| hq_location_city = Hoshiarpur, Punjab
| hq_location_country = India
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| area_served = Worldwide
| key_people = Amrit Sagar Mittal (VC)
Deepak Mittal (MD)
| products = Tractors
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| parent = Sonalika Group
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| website = {{URL|https://www.sonalika.com/|sonalika.com}}
}}
File:Sonalika D1-47 RX Tractor With Carriage - ISKCON Campus - Mayapur - Nadia 20170815154905.jpg
Sonalika Tractors is an Indian agricultural machinery manufacturer. The company was founded in 1995 in Punjab, India. It is the 3rd largest manufacturer of tractors in India, with the capacity to produce 3,00,000 (0.3 million) tractors a year, as of June 2017. The company has become the No.1 company in exports from India selling 35,000 tractors in FY 2021-2022 and is active in 150+ countries.{{cite news |last1=Modi |first1=Ajay |title=Sonalika scales capacity to produce 300,000 tractors |url=https://www.business-standard.com/article/companies/sonalika-sows-leadership-seeds-in-tractors-builds-300-000-unit-capacity-117061400496_1.html#:~:text=Tractor%20maker%20Sonalika%20has%20scaled,(including%20exports)%20last%20year. |publisher=Business Standard |date=June 15, 2017}} It manufactures tractors ranging from 20 HP to 125 HP.{{cite news |last1=Sen Gupta |first1=Nandini |title=Yanmar Sonalika to make tractors for US |url=https://timesofindia.indiatimes.com/business/india-business/yanmar-sonalika-to-make-tractors-for-us-europe-and-thailand/articleshow/60946479.cms |work=The Times of India}}{{cite news |last1=Mukherjee |first1=Sharmistha |title=Sonalika Tractors sales up 19.6% in FY17 |url=https://economictimes.indiatimes.com/sonalika-tractors-sales-up-19-6-in-fy17/articleshow/58026665.cms?from=mdr |publisher=The Economic Times |date=April 5, 2017}} The company is operated by International Tractors Limited,{{cite news |last1=Panday |first1=Amit |title=International Tractors report 19% growth in May sales |url=https://www.livemint.com/companies/news/international-tractors-report-19-growth-in-may-sales-11591198086565.html |publisher=Livemint |date=3 Jun 2020}} the flagship firm of Sonalika Group.{{cite news |last1=Raghunathan |first1=Anu |title=84-Year-Old Indian Tractor Tycoon Wants To Triple Revenues By 2020 |url=https://www.forbes.com/sites/anuraghunathan/2015/09/23/84-year-old-indian-tractor-tycoon-wants-to-triple-revenues-by-2020/#7624fcd061fa |work=Forbes |date=September 23, 2015}}
Sonalika Tractors holds about 11.7%{{cite news |last1=Balachandar |first1=G |title=Amid volume decline in FY20, higher HP tractors stay in top gear |url=https://www.pressreader.com/india/the-hindu-business-line/20200511/281818581008884 |publisher=The Hindu Business Line |date=May 8, 2020}}{{cite news |last1=Banerjee |first1=Avishek |title=Sonalika Tractors Might Introduce Solis 120 In Domestic Market Soon |url=http://www.businessworld.in/article/Sonalika-Tractors-Might-Introduce-Solis-120-In-Domestic-Market-Soon/24-05-2017-118808/ |publisher=BusinessWorld |date=May 24, 2017}} market share of the Indian tractor industry. Sonalika Group owns a 70 per cent stake in the company while Japanese diesel engine manufacturer, Yanmar hold 30 per cent stake. It was selected for the 'Champions of Change' 2017 programme organised by Niti Aayog.
History
The brand Sonalika Tractors is owned and operated by International Tractors Limited, which was incorporated in 1969. It was founded by Lachhman Das Mittal.{{cite news |title=India Today, Volume 32, Issues 9-17 |url=https://books.google.com/books?id=5UxDAAAAYAAJ&q=Sonalika+Tractors |publisher=Living Media |date=2007 |page=110}} It sold its first tractor in 1996. International Tractors Limited was incorporated on 17 October 1987 and began manufacturing tractors named as Sonalika designed by Central Mechanical Engineering Research Institute (CMERI).
File:The Vice President Shri Bhairon Singh Shekhawat symbolically handing over Sonalika tractors gifted by India to Armenia at his meeting with the Armenian Minister of Agriculture, Mr. Davit Lokyan in Yerevan on October 7, 2005.jpg, Bhairon Singh Shekhawat symbolically handing over Sonalika tractors gifted by India to Armenia at his meeting with the Armenian Minister of Agriculture, Davit Lokyan in Yerevan on October 7, 2005]]
In 2000, Renault Agriculture, a French tractor maker, acquired a 20% stake in the company for 80 million francs (equivalent to $11.4 million in 2000) and formed a Sonalika-Renault joint venture to market its tractors worldwide.{{cite news |title=Renault Agriculture ties up with ITL |url=https://www.rediff.com/money/2000/jul/19renaul.htm |work=Rediff.com |date=July 19, 2000}}{{cite news |title=Renault Agriculture eyes higher stake in International Tractors |url=https://www.financialexpress.com/archive/renault-agriculture-eyes-higher-stake-in-international-tractors/36780/ |publisher=The Financial Express (India) |date=February 6, 2002}}{{cite news |last1=Basu |first1=Jaya |title=Now, French tractors with 'Made in India' tag |url=http://archive.indianexpress.com/oldStory/20593/ |publisher=Indian Express |date=March 22, 2003}}
After tie-up with Renault Agriculture, the company started producing licensed Renault tractors under the Renault Sonalika International. However, the tractors are marketed under 'Solis' brand name while it is marketed under the 'Sonalika' brand name in India. In August 2005, Sonalika bought back its stake from Renault when Renault Agriculture was acquired by Germany's Claas Motors.{{cite news |last1=Ramanathan |first1=S Kalyana |title=Renault sells 20% ITL stake for Rs 44 cr |url=https://www.rediff.com/money/2005/aug/03ren.htm |work=Rediff.com |date=August 3, 2005}}{{cite news |last1=Choudhury |first1=Santanu |title=Renault Agri to source tractors from ITL |url=https://www.business-standard.com/article/companies/renault-agri-to-source-tractors-from-itl-104033001013_1.html |publisher=Business Standard |date=February 6, 2013}} In October 2005, Yanmar, a Japanese company, acquired a 12% stake in Sonalika Tractors.{{cite news |title=Yanmar buys 12% stake in Intl Tractors |url=https://timesofindia.indiatimes.com/business/india-business/Yanmar-buys-12-stake-in-Intl-Tractors/articleshow/1257860.cms |work=The Times of India |date=October 10, 2005}}
In October 2012, the Blackstone Group bought a 12.5 per cent stake in the company for ₹520 crore.{{cite news |last1=Chanchani |first1=Madhav A |title=Blackstone to acquire 12.5% in International Tractors for up to $100M |url=https://www.vccircle.com/blackstone-acquire-125-international-tractors-100m/ |publisher=VCCircle |date=October 8, 2012}} The investment from Blackstone made the company valued at ₹4,200 crore in 2012.{{cite news |last1=Thomas |first1=Prince Mathews |last2=Mishra |first2=Ashish K |title=What Sonalika Tractors Need to Beat the Mahindras |url=https://www.forbesindia.com/article/work-in-progress/what-sonalika-tractors-need-to-beat-the-mahindras/36999/1 |work=Forbes India |date=January 30, 2014}} The market share of Sonalika Tractors was also increased from 7.8 per cent (in 2011) to 9.9 per cent in 2013. The company launched a heavy range air-conditioned tractor series called Worldtrac 90 in June 2013.{{cite news |title=Sonalika rolls out heavy range of AC tractor series |url=https://economictimes.indiatimes.com/sonalika-rolls-out-heavy-range-of-ac-tractor-series/articleshow/20592821.cms |publisher=The Economic Times |date=June 14, 2013}} In December 2016, Yanmar bought 18 per cent stake in Sonalika for about ₹1,600 crore. Currently, it owns a 30 per cent stake in the company after Blackstone exit.{{cite news |last1=PM |first1=Indulal |last2=Mukherjee |first2=Sharmistha |title=Yanmar buys Blackstone's 18% stake in International Tractors |url=https://economictimes.indiatimes.com/industry/banking/finance/yanmar-buys-blackstones-18-stake-in-international-tractors/articleshow/56129456.cms?from=mdr |publisher=The Economic Times |date=December 23, 2016}}
It formed a new joint venture with FAMAG in Algeria in October 2018.{{cite news |title=Sonalika ITL partners with FAMAG in Algeria |url=https://auto.economictimes.indiatimes.com/news/automotive/farm-equipment/sonalika-itl-partners-with-famag-in-algeria/66343819 |publisher=The Economic Times |date=October 24, 2018}}
Plants
File:Sonalika Worldtrac 90.jpg
Sonalika has the world's largest tractor manufacturing facility,{{cite news |title=Inside the world's largest tractor manufacturing facility |url=https://www.youtube.com/watch?v=rX-tPTIwVok |agency=The Economic Times |publisher=ET Auto |date=July 30, 2017}} in Hoshiarpur, Punjab. It is spread across 85 acres of land and has all manufacturing facilities, from the engine to assembly.{{cite news |title=Sonalika Tractors market share increases to 12%, grows by 50% |url=https://www.rushlane.com/sonalika-tractors-market-share-2016-12196037.html |publisher=Rushlane |date=May 6, 2016}} The plant has a production capacity of 3,00,000 tractors annually.{{cite news |title=Sonalika inaugurates integrated tractor manufacturing unit |url=https://economictimes.indiatimes.com/sonalika-inaugurates-integrated-tractor-manufacturing-unit/articleshow/58578467.cms?from=mdr#:~:text=farmers%20as%20well.-,Japan%20major%20Yanmar%20has%20partnered%20with%20Sonalika%20and%20will%20get,crore%20to%20increase%20their%20equity. |publisher=The Economic Times |date=May 8, 2017}} In May 2017, the then Chief Minister of Punjab, Amarinder Singh, inaugurated the integrated tractor manufacturing unit of Sonalika.{{cite news |title=ITL inaugurates world's largest tractor manufacturing plant at Hoshiarpur |url=https://auto.economictimes.indiatimes.com/news/industry/itl-inaugurates-worlds-largest-tractor-manufacturing-plant-at-hoshiarpur/58578687#:~:text=NEW%20DELHI%3A%20Home%2Dgrown%20tractor,facility%20of%201%2C00%2C000%20units. |publisher=The Economic Times |date=May 8, 2017}}
The Hoshiarpur plant is also equipped with a robotic paint facility, which was introduced for the first time in the Indian tractor industry. Sonalika has assembly plants in Brazil, Iran, Argentina, Algeria and Cameroon.{{cite news |last1=Seth Mohile |first1=Shally |title=Sonalika Tractors in talks to set up a plant in China |url=https://www.livemint.com/Companies/D6XRR9JUBagjE5Vb2dnZrN/Sonalika-Tractors-in-talks-to-set-up-a-plant-in-China.html |publisher=Livemint |date=December 27, 2016}}
Products
- DI, RX Series
- WT Series
- GT Series
- Sikander Series
- Customized Series (Chhatrapati, Mahabali & Maharaja)
- MM Series
- Tiger Series
- Sikander DLX Series
- Solis brand of tractors
=Former brands=
- Apache Solis - joint venture in Argentina to manufacture tractors
- Landini Solis - tractors built by Sonalika and sold in other countries by Landini
- Montana Solis - built/assembled in Brazil
- Solis Brasil - built/assembled in Brazil
Operations
It holds a 60% market share in Algeria, 22% in Nepal and 20% in Bangladesh.{{cite news |last1=Mathur |first1=Shobha |title=Sonalika ITL launches 120hp tractor for exports; plans assembly units in China and USA |url=https://www.autocarpro.in/news-national/sonalika-itl-launches-120hp-tractor-exports-plans-assembly-units-china-usa-21378 |publisher=Autocarpro |date=17 August 2016}} The company operates in over 150+ countries{{cite news |last1=Panday |first1=Amit |title=International Tractors Limited launches 2 new tractor brands in India |url=https://www.livemint.com/auto-news/international-tractors-limited-launches-2-new-tractor-brands-in-india-1562769199126.html |publisher=Livemint |date=July 10, 2019}} and is one of the top Indian tractor exporters.{{cite news |last1=Gupta |first1=Nandini Sen |title=Sonalika clinches top spot as tractor exporter in India in July |url=https://auto.economictimes.indiatimes.com/news/automotive/farm-equipment/sonalika-clinches-top-spot-as-tractor-exporter-in-india-in-july/53853647 |publisher=The Economic Times |date=August 25, 2016}}
Awards and recognition
- In 2019, Sonalika Tractors won Best Tractor for Agriculture (Sonalika Worldtrac 600), Best Design Tractor Award (Sonalika's Solis 5015) at the Indian Tractor of the Year (ITOTY) Awards 2019.{{cite news |title=ITOTY 2019: India's First Awards Show for Tractors and Farm Implements |url=https://www.business-standard.com/article/pti-stories/itoty-2019-india-s-first-awards-show-for-tractors-and-farm-implements-119050700194_1.html |publisher=Business Standard |date=May 7, 2019}}
- In 2018, it won the 11th Global Agriculture Leadership Award from the Indian Council of Food and Agriculture (ICFA) in the Industry Leadership category.{{cite web |last1=Sharma |first1=Sakhi |title=Global Agriculture Leadership Awards |url=https://www.awardsandachievements.com/agriculture/global-agriculture-leadership-awards/global-agriculture-leadership-awards-2018/ |website=Awardsandachievements.com |date=October 24, 2018}}
- It was selected for the Niti Aayog's 'Champions of Change' 2017 programme.{{cite news |last1=Aradhana |title=PM Addresses Young Entrepreneurs At The "Champions Of Change" Initiative Organized By Niti Aayog |url=http://www.businessworld.in/article/PM-Addresses-Young-Entrepreneurs-At-The-Champions-Of-Change-Initiative-Organized-By-Niti-Aayog/22-08-2017-124532/ |publisher=BusinessWorld |date=August 22, 2017}}
- Sonalika Tractors received the ET Iconic Brand of India by The Economic Times in 2017.{{cite web |title=ET Icon Brands of India 2017 |url=https://www.youtube.com/watch?v=c-JgbCYzsvI |publisher=ET Now |date=June 2, 2017}}
- Sonalika Tractors awarded The Best Quality Award by the Government of India in 2002–03.{{cite book |last1=Singh |first1=Sukhpal |title=Agricultural Machinery Industry in India: Growth, Structure, Marketing and Buyer Behaviour |date=2010 |publisher=Allied Publishers |isbn=9788184245318 |page=51 |url=https://books.google.com/books?id=pZm00saeXAAC&q=Sonalika+Tractors+Awards&pg=PA51}}
See also
{{Portal|India|Companies}}
References
{{reflist}}
{{Automotive industry in India}}
{{Commons category|Sonalika tractors}}
Category:Agricultural machinery manufacturers of India
Category:Tractor manufacturers of India
Category:Companies based in Punjab, India
Category:1995 establishments in Punjab, India
Category:Vehicle manufacturing companies established in 1995