Logo
SubscribeSign In
LeaderPortfolio
Billionaire Profile
Lachhman Das Mittal
Global Rank
#820

Image: Public domain | via Wikimedia Commons

Lachhman Das Mittal

CEO, Sonalika Tractors
IN
Real-Time Net Worth
$2.9B
As of December 2025
Age
95
Source
Tractors
Industry
automotive
Citizenship
IN

Biography

Lachhman Das Mittal, born in 1931, is an Indian business magnate and the Chairman of the Sonalika Group. His journey began as a Life Insurance Corporation of India (LIC) agent before he founded the Sonalika Group in 1970. He is recognized as India's oldest billionaire. His source of wealth stems from his pioneering work in the automotive industry, particularly in the manufacturing of tractors. His dedication and strategic vision led to Sonalika Tractors becoming India's third-largest tractor manufacturer by market share. Mittal's career exemplifies the power of perseverance and entrepreneurial spirit.

Wealth Over Time

In-Depth Profile

Early Life

Lachhman Das Mittal was born in Hoshiarpur, Punjab, in 1931. He received a Master of Arts degree in English and Urdu from Panjab University. He began his career as an insurance agent with the Life Insurance Corporation of India (LIC) in 1955.

Rise to Success

Mittal's entrepreneurial journey started in 1970 when he founded the Sonalika Group, venturing into manufacturing wheat threshers. In 1996, he established Sonalika Tractors, which has since become a leading tractor manufacturer in India. Mittal's strategic vision and leadership have been crucial in the growth of Sonalika Tractors, which is now the 3rd largest tractor manufacturer in India by market share.

Key Business Strategies

Mittal's key strategies included a focus on innovation, quality, and global reach. He has focused on expanding the company's customer base to over 15 lakh customers spread across 150 countries and has expanded manufacturing facilities to 5 countries. He has also placed an emphasis on the company's customer-focused approach.

Philanthropy

Mittal is known for his philanthropic endeavors. He established the Sonalika Foundation, a charitable trust dedicated to promoting education, healthcare, and rural development.

Career Milestones

1955

Began Career

Started working as a Life Insurance Corporation of India (LIC) agent.

1970

Founded Sonalika Group

Ventured into manufacturing wheat threshers.

1996

Founded Sonalika Tractors

Established Sonalika Tractors, which grew to become India's third-largest tractor manufacturer.

1990

Retired from LIC

Retired as a deputy zonal manager.

Philanthropy & Social Impact

Community Development

Sonalika Foundation

Undisclosed

Supports education, healthcare, and rural development initiatives.

Business Philosophy & Leadership

Notable Quotes

"I can convince anyone to purchase my tractors."

Leadership Principles

Visionary Leadership

Emphasizes innovation and long-term strategic planning.

Customer Focus

Prioritizes customer needs and satisfaction.

Resilience

Demonstrates determination and perseverance in overcoming challenges.