Every entrepreneur’s journey is marked by challenges, determination, and moments of inspiration. The story of Laxman Dass Mittal, the founder of Sonalika Tractor, epitomizes this truth. Starting as an insurance agent, Mittal’s perseverance has led him to head a multi-crore enterprise today.
An Academic Foundation
Despite living in an era when the importance of education wasn’t universally recognized, Laxman Das Mittal, inspired by his father’s encouragement, pursued higher studies. He successfully completed his MA in both English and Urdu, receiving accolades for his proficiency in English by winning a gold medal.
Initial Career Endeavors
Mittal’s professional journey began in 1955 as an insurance agent with the Life Insurance Corporation of India (LIC). He climbed the corporate ladder to become a field officer and worked across various states. Yet, despite his stable job, he harbored ambitions of achieving something monumental.
A Foray into Business
In 1966, while still in the confines of his job at LIC, Mittal ventured into the realm of entrepreneurship. Recognizing the need for improved farming machinery, he initiated the production of threshers, collaborating with local blacksmiths to realize his vision.
However, this entrepreneurial stint was fraught with challenges. Mittal faced significant business losses that deeply affected his father, Hukum Chand. Witnessing his father’s despair, Mittal was deeply moved. It became his driving force, propelling him to ensure that he would provide his parents with unparalleled joy and prosperity.
Re-establishment and Growth of Sonalika Group
Determined to turn the tide, Mittal sought to re-establish the Sonalika Group. A friend pinpointed flaws in his thresher machines. With these insights, Mittal revamped the design, which eventually proved to be a game-changer. The improved threshers garnered significant popularity, laying a solid foundation for the company’s growth.
A decade later, Sonalika Thresher achieved international acclaim. In 1990, after retiring as the Deputy Zonal Manager from LIC, Mittal ventured into tractor manufacturing by 1994. Today, Sonalika Group boasts a staggering net worth of ₹17,771 crore.
Sonalika’s Global Footprint
Sonalika Group’s tractors have found their way to international shores, exporting to 74 countries. With manufacturing plants across five countries and employing over 7,000 individuals, the group stands tall in the global agricultural machinery sector. Laxman Dass Mittal’s name once shone as the 52nd richest individual in India and currently, he’s acknowledged as the 77th richest.
