Amul eyes Rs 50,000-crore turnover by 2020

By: |
May 01, 2016 1:07 PM

The turnover of Gujarat Cooperative Milk Marketing Federation (GCMMF) rose 11 per cent to Rs 23,005 crore during 2015-16 fiscal.

amul-ad-LFifty per cent of the Amul’s turnover comes from milk sale, commodity business contributes only 5-7 per cent and the rest comes from value-added products segment.

Dairy major GCMMF, which sells products under the Amul brand, is looking to more than double its turnover to Rs 50,000 crore in the next four years on account of rising demand for milk and value-added items, a top company official said.

The turnover of Gujarat Cooperative Milk Marketing Federation (GCMMF) rose 11 per cent to Rs 23,005 crore during 2015-16 fiscal.

“After taking into consideration the continuous rise in demand for Amul products, we are anticipating at least 20 per cent growth in our turnover for next 4 years,” GCMMF Managing Director R S Sodhi told PTI.

In the last six years, the dairy cooperative’s turnover has jumped nearly three-fold to Rs 23,000 crore.

“So now, we have set a target of Rs 50,000-crore turnover by 2020 on the back of expected growth in sale of both value added products and milk,” Sodhi added.

GCMMF’s milk procurement for the year 2015-16 stands at 186 lakh litres per day as against 148.50 lakh litres per day in the preceding fiscal.

Fifty per cent of the Amul’s turnover comes from milk sale, commodity business contributes only 5-7 per cent and the rest comes from value-added products segment.

“Value-added products sale has been showing tremendous growth. The sale of beverage product like Amul kool, fermented products like curd and butter milk has risen sharply. So all these are pushing our growth rate,” Sodhi said.

The cooperative has raised its cheese producing capacity three times to 120 tonnes per day from 40 tonnes per day in last six months, as it was unable to meet the rising demand, he added.

Sodhi also informed that Amul is planning to substantially raise its milk processing capacity from the current level of 281 lakh litres per day.

The cooperative has about 60 various processing plants, of which 40 are in Gujarat only.

There are 17 member unions of GCMMF associated with more than 36 lakh farmers across 18,600 villages of Gujarat.

The member unions of GCMMF have also established their own milk processing plants in states of Haryana, Uttar Pradesh, Maharashtra, Madhya Pradesh, West Bengal and Rajasthan and is procuring milk procurement from other states.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Twitter donates USD 15 mn for COVID-19 relief in India
2FSS and Zwipe to offer contactless cards globally
3Maharashtra invites bids for 500 MW wind-solar hybrid power