Amul clocks 13% rise in turnover at Rs 33,150 cr in FY'19
03 Apr 2019
Gujarat Co-operative Milk Marketing Federation (GCMMF), producers of the Amul brand of milk and its products, has reported a turnover of Rs33,150 crore for the 2018-19 financial year, an increase of 13 per cent compared to the previous financial year, provisional figures released by the company showed.
The Amul Federation had posted a turnover of Rs29,225 crore in 2017-18, GCMMF stated in a release on Monday.
Amul Federation has been achieving a compound annual growth rate (CAGR) of more than 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 the country.
The provisional unduplicated group turnover of Amul Federation and its 18 member unions has crossed Rs45,000 crore which is also 13 per cent higher than last year.
The 18 member unions of Amul Federation with a farmer-member strength of more than 3.6 million, across 18,700 villages of Gujarat, are procuring on an average 23 million litres of milk per day which is 10 per cent higher than last year.
"Based on estimated growth in market demand for Amul products and our future marketing efforts, we anticipate at least 20 per cent CAGR growth in the business of Amul Federation during the next five years," Amul Federation chairman Ramsinh P Parmar said.
Jethabhai Bharwad, vice chairman of Amul Federation, said member unions of Amul are planning to enhance its milk processing capacity from the current level of 35 million litres per day to 38–40 million litres per day in the next two years.
"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," R S Sodhi, MD, Amul, said, adding that all product categories have achieved double digit growth in volume.