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Amul registers turnover of Rs 33,150 crore for financial year 2018-19
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Tuesday, 02 April, 2019, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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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, which ended on March 31, 2019. The sales turnover achieved by Amul Federation was 13 per cent higher than the previous financial year.
Amul has been achieving a compound annual growth rate (CAGR) of over 17.5 per cent 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.
The provisional unduplicated group turnover of Amul and its 18 member unions crossed Rs 45,000 crore, which was also 13 per cent higher than last year.
The 18 member unions of Amul, with a farmer member strength of over 36 lakh across 18,700 villages of Gujarat, are procuring on an average 230 lakh litre of milk per day, which is 10 per cent higher than last year.
Ramsinh P Parmar, chairman, Amul, emphasised 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 that 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 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. “
It is important to note that Amul has achieved the turnover in spite of the adverse market conditions for dairy products at the national as well as the international level.
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