Sonalika Tractors Success Story: You must have read many success stories from the world of business in which the youth of the new era have created a very good business at a very young age, but you must have rarely heard the success stories of older people.
This is because it is believed that after a certain age, a person does not feel like doing anything, but Lachhman Das Mittal ji has proved this wrong. Today we have brought you a success story from the world of business in which a person established one of the largest tractor companies in India at the age of 60.
Here we are talking about Lachhman Das Mittal, who is the owner of the Indian tractor company Sonalika Tractors. In today’s article, we will read about Sonalika Tractors’ success story and how Lachhman Das ji built such a big company at the age of 60.
This is how Sonalika Tractors Success Story started
Lachhman Das Mittal Ji started Sonalika Tractors Company in 1995. This company was started by Mittal Ji in Punjab, India. Before starting Sonalika Tractors, Lachhman Dasji worked as an agent for India’s largest insurance company, LIC.
Lachhman Das wanted to start his own business since a long time, but due to his job, he could never start his business. But finally, when he took retirement from the job, he decided to start Sonalika Tractors at the age of 60 .
At the age when most people leave everything and rest, Lachhman Das ji started his own business. He started his business in the tractors industry because at that time there were not many good tractor companies and Lachhman wanted to do something for ten farmers, that is why he started Sonalika Tractors Company.
Had to face many difficulties in the beginning
Lachhman Das Mittal ji had to face many troubles in the beginning of his business . Initially, due to lack of much money, Lachman Das was not able to work on many new technologies, but after a lot of searching, he found a financier from whom he took a loan of about Rs 22 crore .
With the help of that loan of Rs 22 crore, Lachhman Das ji started expanding his business and from there he never retreated. Today Sonalika Tractor has become a very famous tractor company in India.
Joined the big tractor companies of India
Due to the hard work and dedication of Lachhman Das Mittal, today Sonalika Tractors Company has become the third largest tractor company in India. Today their headquarters is located in Jalandhar, Punjab, apart from this, tractors of Sonalika Tractors company also go to about 74 different countries
If we talk about Sonalika Tractors’ tractor sales, more than 1,50,000 tractors were sold across the world in FY23. In terms of branding also, they have a very good brand name in the tractor industry.
Lachman Das is India’s oldest billionaire!
Sonalika Tractors owner Lachhman Das Mittal is today the oldest billionaire in our country India. If we talk about Lachhman Das Mittal Net Worth , then according to the world’s most famous magazine Forbes, his net worth is around 2.6 billion dollars .
This net worth makes him the oldest billionaire in India, currently Lachhman Dasji is 92 years old. We should learn from Lachhman Das ji that there is no age to do anything, age is just a number.
Lachhman Das Mittal Interview: Sonalika Tractors Success Story
Sonalika Tractors Success Story Overview
|Lachhman Das Mittal
|Age When Started Company
|60 years old
|Sonalika Tractors (1995)
|Worked at Life Insurance Corporation of India (LIC)
|Sonalika Tractors’ Position
|India’s third-largest tractor producer by market share – Leading exporter in fiscal year 2021-2022 – Controls 11.7% of the Indian tractor market
|Experienced bankruptcy due to miscalculations in a farm equipment venture – Rejected for a Maruti dealership
|Observed Japanese machinery, pivoted to agricultural machinery business with threshers
|National fame for agricultural machinery within eight years – Expanded to tractor production – Expanded globally with manufacturing in multiple countries
|Sonalika Group sells 70,000 agricultural tractors annually – Exports to over 70 countries
|Sons Amrit Sagar and Deepak, and grandchildren Raman, Sushant, and Rahul involved in operations
|Current Net Worth
|Approximately Rs 23,000 crore according to Forbes
|Following the passing of Keshub Mahindra, now the country’s oldest billionaire
We hope that from this article you would have got information about Sonalika Tractors Success Story , share it with your friends so that they can also get information about Sonalika Tractors Success Story. To read similar success stories, please visit our business page.