Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which markets the popular Amul brand of milk and dairy products, has registered a provisional turnover of Rs 33,150 crore for the financial year 2018-19. As per the previous records this sale turnover achieved by Amul Federation is 13 percent higher than the previous financial year.
The company has been achieving a compound annual growth rate (CAGR) of over 17.5 percent for the last nine years, because of higher milk procurement, continuous expansion in terms of adding new markets, launching of new products and adding new milk processing capacities across India.
Amul and its 18 member unions group turnover crossed Rs 45,000 crore, which was also 13 percent higher than last year.
Ramsinh P Parmar, chairman, Amul, stated the fact that mantra of rapid expansion had clearly yielded rich dividends for the federation. “Based on estimated growth in market demand for Amul products and our future marketing efforts, we anticipate a CAGR growth of at least 20 per cent in the business of Amul during the next five years.”
Jethabhai Bharwad, vice-chairman, Amul, added, “The member unions of Amul plans to enhance its milk processing capacity from the current level of 350 lakh litre per day to 380–400 lakh litre per day in the next two years.”
R S Sodhi, managing director, Amul, said, “We have achieved volume sales growth in all product categories. Pouch milk, which is the highest-turnover product, has shown good growth in all most all the market.” He also added, “In all the product categories, we are getting double-digit growth in volume. He added that during last financial year, we have launched new varieties of flavoured milk, chocolates, fruit-based Amul Tru, camel milk and an entire new kulfi range.”
Notably, Amul has achieved the turnover in spite of the adverse market conditions for dairy products at the national as well as the international level.