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GCMMF registers provisional turnover of Rs 27,000 crore with 18% growth
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Wednesday, 05 April, 2017, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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The 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 27,085 crore for the financial year 2016-17. This is 18 per cent higher than last financial year’s sales turnover of Rs 22,972 crore.
The turnover of GCMMF has increased by about 3.5 times in the last seven years. The provisional unduplicated group turnover of the member unions of the Amul group has crossed Rs 38,000 crore.
It may be noted that GCMMF has planned to achieve the sales turnover of Rs 50,000 crore by 2020-21.
GCMMF has been achieving a compounded annual growth rate (CAGR) of more than 20 per cent for the last seven 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. In order to reach the interior markets, GCMMF has started 14 new branches in India in the last four years.
The 18 member unions of GCMMF, with a farmer member strength of over 36 lakh across 18,700 villages of Gujarat, are procuring, on an average, 177 lakh litre of milk per day. GCMMF ranks among the top 13 dairy companies in world in terms of milk processing as per the International Farm Comparison Network (IFCN).
In order to meet the milk and milk product demand in the major metros of India, the member unions of GCMMF have started creating their own milk processing plants in states of Haryana, Uttar Pradesh, Maharashtra, Madhya Pradesh, West Bengal and Rajasthan. The member unions of GCMMF have also started milk procurement from other states, so that the milk producers of these states also benefit from the Amul model.
Jethabhai Patel, chairman, GCMMF, emphasised the fact that the mantra of rapid expansion has clearly yielded rich dividends for GCMMF.
“Based on the estimated growth in the market demand for Amul products and our future marketing efforts, we anticipate at least CAGR growth of 20 per cent in the business of GCMMF during the next five years,” he added.
The chairman added that Amul planned to enhance its milk processing capacity from the current level of 300 lakh litre per day to 380 lakh litre per day in the next three years.
On behalf of the 36 lakh milk producer members of Gujarat, Patel conveyed his sincere gratitude to the Central and state governments for their continuous and timely support for various schemes related to milk producers.
R S Sodhi, managing director, GCMMF, said, “We have achieved volume sales growth in all product categories. The volume growth of pouch milk, the product with the highest turnover, is in double digits. Moreover, our products like butter, ghee, ice cream, ultra-high temperature (UHT) milk, flavoured milk, paneer and fresh cream have also shown double-digit growth.”
He said, “There is no negative impact of demonetisation on our business. The member unions of GCMMF have opened more than 12.5 lakh new bank accounts for milk producer members, and almost the entire payment of milk producer members is channelised through these bank accounts.”
Sodhi added, “Every year, we are getting better results because of the strong foundation laid down and the value system created by our founder chairman, V Kurien, and the selfless and visionary leadership of Tribhuvandas Patel and Motibhai Chaudhary. It is important to note that GCMMF gives 80-85 per cent of the consumer rupee back to milk producer members, thus encouraging them to produce more milk.”
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