Amul Clocks 13% Rise In Turnover Last Fiscal
Gujarat Co-operative Milk Marketing Federation, which markets dairy products under the Amul brand, reported a 13 percent increase in turnover at Rs 33,150 crore in 2018-19, driven by a strong growth in volume.
The company posted a turnover of Rs 29,225 crore in 2017-18.
Amul Federation has been achieving a compound annual growth rate of more than 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 the country.
The provisional unduplicated group turnover of Amul Federation and its 18-member unions crossed Rs 45,000 crore, also 13 percent higher than last year.
The 18-member unions of Amul Federation with a farmer-member strength of more than 36 lakh, across 18,700 villages of Gujarat, are procuring on an average 230 lakh litres of milk per day, which is 10 percent higher than last year.
Amul Federation Chairman Ramsinh P Parmar said, “Based on estimated growth in market demand for Amul products and our future marketing efforts, we anticipate at least 20 percent CAGR growth in the business of Amul Federation in the next five years”.
Jethabhai Bharwad, vice chairman at Amul Federation, said member unions of Amul plan to enhance its milk processing capacity from 350 lakh litres per day to 380 lakh litres per day in the next two years.
RS Sodhi, managing director at Amul, said, “We have achieved volume sales growth in all product categories. Pouch milk—the highest turnover product—has shown good growth in almost all the market.”
He said the company achieved double-digit growth in volume in all product categories.