Amul family’s turnover crosses Rs 50,000 crore mark

April 2, 2020

VADODARA — As the financial year came to an end on Tuesday, the Gujarat Co-operative Milk Marketing Federation (GCMMF) that markets dairy products under brand Amul registered a provisional turnover of Rs 38,550 crore for the financial year 2019-20.
The sales turnover achieved by GCMMF is 17% higher than the previous financial year’s turnover which stood at Rs 32,960 crore.
With this, the provisional unduplicated group turnover of Amul federation and its 18 member unions has crossed Rs. 50,000 crore, which is also 17 % higher than last year.

“At the rate at which we are growing, in the next five years Amul brand will touch Rs 1 lakh crore,” said R S Sodhi, managing director of GCMMF. GCMMF and its 18 member unions have more than 36 lakh farmers across 18,700 villages of Gujarat as registered members.

“We have been achieving the compound annual growth rate (CAGR) of more than 17% since the last 10 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,” Sodhi said.

The cooperatives of Gujarat could have recorded better growth rate. “Because of the lockdown due to COVID-19, sales of value-added products have suffered a bit. We could have registered 1 or 1.5% more growth,” Sodhi said, adding that due to extended winter and the current lockdown, the sale of products like ice-cream has witnessed a huge reduction.

“But throughout the last financial year, we have seen growth in all product categories,” he said.

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