Sonalika, a prominent tractor manufacturer based in Hoshiarpur, Punjab, has made its debut in the prestigious ‘Fortune 500 India’ 2024 list, ranking it as one of the largest companies in the country. The company also ranks among the top 10 car brands in India in the same list.
Founded in 1996, Sonalika has grown to become a major player in the agricultural machinery space with estimated sales of $1.1 billion. The company’s consistent adherence to core principles of providing quality products and services, fostering strong stakeholder relationships, and maintaining ethical business practices has been central to the company’s growth. Our debt-free approach has further strengthened our expansion into more than 150 countries around the world.
Sonalika attributes the company’s success to an inclusive organizational culture that values its employees, dealers, vendors, and farming community. Known for its innovative and robust tractors, the company has focused on meeting the evolving needs of the agricultural sector. During the COVID-19 pandemic, Sonalika maintained a people-first approach and set an example of corporate responsibility by ensuring job security, timely payroll payments and vendor advances.
Currently, Sonalika is India’s leading tractor export brand and the third largest tractor brand in the domestic market. The company operates the world’s largest integrated tractor manufacturing facility, capable of producing one tractor every two minutes, demonstrating its contribution to the modernization of agriculture.
Commenting on this recognition, Sh. LD Mittal, Chairman, International Tractors Limited (Sonalika), said this achievement is a milestone for the company. He emphasized the importance of the company’s core values, including providing quality products, prioritizing people and ethical business operations. Mr. Mittal also highlighted Sonalika’s efforts in promoting agricultural mechanization through innovative farm machinery solutions.
He credited this achievement to the collective efforts of Sonalika’s team, the faith in the brand by farmers, and the support of dealers and vendor partners. Mr. Mittal thanked all stakeholders and reaffirmed the company’s commitment to driving progress in the agricultural sector and sustaining its role as a key contributor to India’s automotive industry.
