GCMMF, which markets dairy products under Amul brand, Monday reported 13 per cent increase in turnover at Rs 33,150 crore during the just ended financial year driven by strong growth in volume.
Gujarat Co-operative Milk Marketing Federation (GCMMF) had posted a turnover of Rs 29,225 crore in 2017-18.
GCMMF has registered a provisional turnover of Rs 33,150 crore for 2018-19. The sales turnover achieved by Amul Federation is 13 per cent higher than the previous financial year, the company said in a statement.
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 Rs 45,000 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 36 lakh, across 18,700 villages of Gujarat, are procuring on an average 230 lakh litres of milk per day which is 10 per cent 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 per cent CAGR growth in the business of Amul Federation during the next five years."
R S Sodhi, MD, Amul, said, "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"