Sonalika Debuts in Fortune 500 India 2024, Ranking Among Leading Firms

New Delhi, 8th January 2025 — Sonalika Tractors makes history as it features in the Fortune 500 India 2024 list. The company now joins the league of India's largest firms and has become one of the top 10 auto brands in India, achieving a landmark position.

From Humble Beginnings to Now

Sonalika was founded in 1996 in Hoshiarpur, Punjab. The company has grown quickly and entered into the international market as a global tractor player. Sonalika has a turnover of about US$1.1 billion. From its humble origins to becoming one of India's top 500 companies, it reflects its hard work and strong values.

Some of the core principles that drive Sonalika's success are quality products and services, care for stakeholders and ethical business practices. The company started as a debt-free entity, and it is now able to build a strong foundation in more than 150 countries in the world. In addition, Sonalika always focuses on innovation and quality and cares for the farming community.

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During COVID-19, Sonalika maintained its commitment towards employees and its stakeholders. Salaries were paid on time to employees, advances were made towards vendors, and no layoffs took place. This people-first approach has solidified its reputation both in India and abroad.

A Leader in Tractor Manufacturing

Sonalika’s remarkable journey includes becoming the No. 1 tractor export brand in India. It also operates the world’s largest integrated tractor manufacturing plant. This plant rolls out a new tractor every two minutes. The company has gained its rank as the third-largest tractor brand in India, which is also globally the largest tractor market.

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.”

He also added,” 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 reflect our mission and values that drive us every single day. Following our core principles of keeping people first, delivering the best product & services, and doing ethical business with no shortcuts, we have remained debt free since the inception. This achievement reflects 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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