International Tractors Limited

Is International Tractors Limited publicly traded?

No. ITL is a private company majority owned by the Mittal family's Sonalika Group, with Yanmar holding a 30 percent stake.

Who owns Sonalika tractors?

Sonalika is made by International Tractors Limited, the flagship company of the Sonalika Group founded by Lachman Dass Mittal.

What brands does ITL own?

Sonalika for India, Solis for global exports, and Summit for the North American retail channel.

Where are Sonalika and Solis tractors made?

At ITL's integrated tractor plant in Hoshiarpur, Punjab, India, which has capacity for 300,000 units per year.

What is ITL's revenue?

Sales were INR 11,526 crore (roughly $1.3 billion) in FY2026, with net profit of INR 1,878 crore.

Does Yanmar own ITL?

Yanmar holds a 30 percent minority stake accumulated since 2005. The Mittal family retains majority control.

How big is ITL?

It is the world's fifth-largest tractor manufacturer by volume, India's largest tractor exporter, and a Fortune 500 India company at rank 237, with record FY2025 sales of 153,764 tractors.

Lachman Dass Mittal founded the business in 1969 in Punjab, initially in agricultural implements before moving into tractor manufacturing. International Tractors Limited was incorporated in the mid-1990s, and production ramped at the Hoshiarpur complex into India's third-ranked tractor producer.

A defining chapter was the European partnership era. A 2000 joint venture with Renault Agriculture produced licensed Renault-designed tractors marketed as Sonalika in India and Solis internationally; ITL bought back Renault's stake in 2005 when Claas acquired Renault's tractor business. Yanmar then took a 12 percent stake in October 2005, raising it to roughly 30 percent through additional investment in 2016, which also saw Blackstone's 12.5 percent stake, acquired in 2012 for INR 520 crore, bought out.

Export growth accelerated through the 2010s and 2020s under the Solis brand, making ITL India's top tractor exporter with number one positions in markets including Nepal, Bangladesh, Algeria, and several European countries. In 2020 it began building compact tractors for the American startup Summit Tractors, and subsequently acquired the Summit brand outright for the North American retail channel.

FY2025 delivered a record 153,764 tractor sales and a 14.8 percent domestic share, the company's first entry into the Fortune 500 India list at rank 237, and a Guinness World Record in November 2025 for delivering 350 tractors in a single day in Bangladesh.