LIC agent who set up ₹ 23000 crore company, company foundation laid at the age of 60, story of Laxman Das Mittal’s struggle
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Joined the list of billionaires
Laxman Das Mittal is one of those people who write their own destiny. At the age when people are in a mood to relax, they have set up a company worth crores. At the age of 92, Laxman Das Mittal is the second oldest billionaire in India. He was included in the list of billionaires in Forbes list. His net worth is around $2.5 billion. From a simple LIC agent, he has traveled a journey to a billionaire. This journey was not easy. He had to fall many times, the business went bankrupt, but he was determined not to give up.
Journey from LIC Agent to Business Tycoon
Born in 1931 in Hoshiarpur, Punjab, Laxman Das Mittal’s father Hukum Chand Agarwal was a grain dealer in Mandi. Laxman Das Mittal always topped in studies. He did gold medal in English. After studies, he started a job as an LIC agent in the year 1955, but he always had something different in mind. He used to save a certain amount from his salary, so that he could do some work of his own. Since childhood, he was associated with farms and farmers, so he wanted to do some work for them.
sunk business
Initially, he invested money in the business related to machines from agriculture. Along with the job, in the year 1962, he started making threshers, but could not succeed. There was a huge loss in the business and his business went bankrupt. This loss was so great that its heat reached the family. His father lost courage, but Lakshmana tried again. He was promoted in 1990 and became the Deputy Zonal Manager at LICE. Along with the job, he again started focusing on the business. In the year 1970, he laid the foundation of Sanalika Tractors.
Sonalika tractor launch
He started Sonalika tractors in the year 1970, but tractor manufacturing started in 1994. He was retired when Sonalika started gaining momentum. He gave his full focus to the business. Sonalika changed his fate. He started getting success in this business. Today the net worth of Sonalika Group has reached Rs 23,000 crore. It has become the third largest tractor brand in India. If we talk about business expansion, then apart from the country, his business is spread in 74 countries. The company manufactures more than 3 lakh tractors in a year. He has now handed over his business to his two sons, Amrit Sagar Mittal and Deepak Mittal, but has such an attachment to the company that even today he comes to the office every day. His love for the company is such that even at this age he reaches office everyday. Even at the age of 92, he is handling the work of Sonalika Implements. This company manufactures agricultural implements.
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