Lachhman Das Mittal net worth
Current Net Worth – $2.3 Billion (USD – 230 Crores), (Rupees – 17.7 Thousand Crores)
Lakshman Das Mittal short biography
|Net Worth||$2.3 Billion|
|Born||1931 (Age – 90)|
|Identified as||Owner and Chairman of Sonalika Group|
|Education||Punjab University, Master of Arts; Punjab University, Bachelor of Arts/Science|
Lachhman Das Mittal has a net worth of $2.3 Billion (Rupees – 17,771 Crores), making him one of the Top 100 Richest men in India.
He is the owner and chairman of Sonalika Group.
He served on the National Council of the Confederation of Indian Industry and as Chairman of the Tractor Manufacturers Association of India.
He is India’s 75th wealthiest man.
After retirement from the state-owned Life Insurance Corporation of India, Lachhman Das Mittal began his business career in 1990 at the age of 60.
His Sonalika Group is now India’s third-largest tractor manufacturer in terms of market share.
Yanmar, a Japanese company, owns a 30% stake in his tractor company, International Tractors.
Mittal has delegated operations to his sons Amrit Sagar and Deepak, as well as his grandchildren Raman, Sushant, and Rahul, but he remains in the office every day.
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Lachhman Das Mittal biography
|Full Name||Lachhman Das Mittal|
|Height||5,5 feet, 167 cm|
Lachhman Das Mittal was born in 1931, now his age is 90.
Mittal graduated from Punjab University with a Master of Arts in English and Urdu.
In 1962, he started making wheat threshers in Hoshiarpur, Punjab, with the assistance of local blacksmiths.
The Mittal group was preparing for a mission called Mission 2020. A plant in Punjab has had its production capacity doubled to 200,000 at a cost of $80 million.
It has a production line capable of producing 500 engines per day, as well as robotic painting and fully autonomous test rigs.
When he was 65, Lachhman Das Mittal established a tractor firm.
He and two of his sons founded International Tractors Ltd (ITL) India’s third-largest tractor manufacturer, with $660 million in sales, over the next two decades.
In 1963, the family goes bankrupt, and by 1970, he had a net worth of Rs 1 lakh only.
He explains “I once applied for a Maruti Udyog dealership but was turned down. I’m giving away dealerships today.”
Net worth statistics
- March 2014 – $1.1 B
- March 2015 – $1.5 B
- March 2016 – $1.7 B
- March 2017 – $1.4 B
- March 2018 – $2.0 B
- March 2019 – $1.9 B
- April 2020 – $1.3 B
- April 2021 – $1.9 B
- April 2022 – $2.5 B