Accordingly Lakshman Das Mittal is an Indian businessman and is the owner and chairman of Sonalika group and as per report he is the 52nd richest person in India and has been the Chairman of Tractor Manufacturer's Association of India and member of National Council of Confederation of Indian Industry.
Reportedly Mittal has completed his Master of Arts (English & urdu) from Punjab University. Previously in 1962 he began manufacturing wheat threshers with the help of local blacksmiths in Hoshiapur, Punjab and the following year the family goes bankrupt and by 1970 his net worth was Rs 1 lakh. He tells "Once he applied for dealership of Maruti Udyog but was rejected. Today, he gives out dealerships".
Earlier Lakshman Das Mittal started a tractor company when he was 65. Furthermore in the ensuing two decades, he along with two of his sons built International Tractors Ltd (ITL) into India’s third-largest such producer, with $660 million in revenues. Reportedly at 84, he’s a little hard of hearing but still on the plough. He added “We want to triple revenues, triple profits and triple our production by 2020,” says Mittal, who works out of a nondescript building in east Delhi.
Moreover the tractor tycoon, with a net worth of $1.95 billion (No 52), based primarily on his 70% ownership in privately held ITL, is putting out 77,000 vehicles, many to be sold in the northern states of Punjab and Haryana. Apparently the company is India’s leader in the most powerful machines above 50 hp, which also are the most profitable.
