From LIC Worker To 'Sonalika Tractor’s' Chairperson: Lachhman Das Mittal, Who Launched The Company in His 60s

Lachhman Das Mittal, the chairperson of Sonalika Tractor Firm, started his entrepreneurial career at the age of 60, after leaving his job at the government-owned Life Insurance Corporation. With his knowledge of investments and savings, gained from working at LIC, he invested in different schemes and mutual funds instead of keeping his money in bank accounts.

He completed a postgraduate course in English and got a gold medal, despite facing financial issues. After working for years in LIC, he became a field manager, which allowed him to tour India and pay off his debts.

Lachhman Das Mittal had a passion for entrepreneurship and decided to launch a farm machinery side venture. However, this venture left him bankrupt, and he lost all his investments and money. He applied for a Maruti dealership, but his application was denied.

One day, he saw Japanese machines separating hay and wheat, which inspired him to create the Sonalika Thresher. This product gained nationwide acclaim in just eight years, making it one of India’s most recognizable agricultural brands. His customers urged him to consider creating tractors, and he eventually gave in to their requests. He needed financing to carry out his research on a larger scale, and he was able to secure a loan of Rs 22 crore from his trusted dealers.

In 1996, Lachhman Das Mittal established Sonalika Tractors in Jalandhar, and it became a huge success. Today, the Sonalika Group is India’s third-largest tractor manufacturer, with a 30% ownership stake from the Japanese company Yanmar. With five manufacturing facilities around the world, Sonalika tractors are exported to 74 different countries and are used on Indian farmlands. The company sells 70,000 farm tractors annually and ships 12,000 units regularly to 70 different countries.

Lachhman Das Mittal’s success story is an inspiration to those who wish to become entrepreneurs but feel they are too old to do so. With his hard work, determination, and passion for entrepreneurship, he was able to start a successful company at the age of 60. His story shows that it is never too late to start a new venture and that age should not be a barrier to success.

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