- Amul posted a provisional Rs 38,550 crore turnover for the 2019-20 financial year crossing the 50,000 crore mark with 17% YoY growth.
Home-grown dairy giant Amul’s turnover has crossed Rs 50,000 crore mark.
While the financial year ended on Tuesday, the Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets dairy products under the name Amul, posted a provisional Rs 38,550 crore turnover for the 2019-20 financial year.
GCMMF’s revenue turnover is 17 percent higher than the turnover of the previous financial year at Rs 32,960 crore.
With this, Amul Federation’s provisional unduplicated party turnover and its 18 member unions have reached Rs. 50,000 crore, which is 17 percent higher than last year as well.
“At the pace, we’re increasing, the Amul brand will reach Rs 1 lakh crore in the next five years,” said R S Sodhi, GCMMF’s managing director. The GCMMF and its 18 affiliate unions are registered members of more than 36 lakh farmers in 18,700 villages in Gujarat.
“Over the last 10 years, we have achieved a compound annual growth rate (CAGR) of more than 17 percent due to higher milk procurement, continuous expansion in terms of entering new markets, launching new products and adding new milk processing capacities across the region,” Sodhi said.
Gujarat cooperatives should have reported a better rate of growth. “Sales of value-added goods have suffered a bit because of the lockout due to COVID-19. We could have registered 1 or 1.5 percent more production, “said Sodhi, adding that the selling of products like ice-cream has seen a huge decrease due to extended winter and the current lockdown.
“But throughout the last financial year, we have seen growth in all product categories,” he said.
Anand Milk Union Limited or Amul India is an Indian cooperative dairy company, formed in 1948. Based at Anand, Gujarat, it is managed by the Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF). Amul impelled India’s White Revolution, which made the country the world’s largest producer of milk and dairy products.
The white revolution was led by Tribhuvandas Patel under the guidance of Sardar Patel. Later, Kaira District Milk Union Limited was born in 1946. He hired Dr. Verghese Kurien (founder-chairman of the GCMMF) three years after the white revolution. Kurien is credited with the success of Amul’s marketing. Amul has ventured into markets overseas.
Amul is the biggest exporter of dairy items in the nation and it is accessible in more than 40 nations. The real markets are the US, West Indies, nations in Africa, the Gulf locale, Singapore, the Philippines, Thailand, Japan, and China.
B M Vyas, Managing Director, GCMMF stated, “We have demonstrated that if a level-playing field is provided, Indian dairy products are successful in the global market. Growth in consumer pack exports has been credible and we have consolidated our exports.”