Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets products under the 'Amul' brand, has achieved a turnover of Rs 20,733 crore in 2014-15 financial year and is now eyeing a Rs 50,000-crore turnover in the next five years.
With the turnover of Rs 20,733 crore for 2014-15, the cooperative giant has registered its highest ever growth of 51 per cent in turnover in the last two years, Gujarat Cooperative Milk Marketing Federation said in a statement.
The turnover grew from Rs 8,005 crore to Rs 20,733 crore during the last five years, which shows a cumulative average of growth rate (CAGR) of 21 per cent, it added.
In addition, the group turnover of GCMMF and its constituent member unions, representing unduplicated turnover of all products sold under Amul brand, was Rs 29,000 crore.
GCMMF Chairman Jethabhai Patel said they are now eying to touch a Rs 50,000 crore turnover in the next five years.
"Based on estimated growth in market demand for Amul products, we anticipate at least 20 per cent CAGR growth during the next five years, implying that the turnover of GCMMF should exceed Rs 50,000 crore (USD 8 billion) by 2019-20," said Patel.
Elaborating further, he said Amul plans to enhance its milk processing capacity from the current level of 237 lakh litres per day to 380 lakh litres per day in the next five years.
"Our massive expansion drive is already underway. Ten new dairy plants are in various stages of completion. New dairy plants are being built in Faridabad, Kanpur, Lucknow and Kolkata. Another new dairy plant in Varanasi is also in the pipeline. Our new mega-cheese plant near Palanpur is near completion and will start operating this year," Patel said.
"In Gujarat, new dairy plants will soon be operational at Amreli and Surendranagar. Capacity expansion at Bhavnagar is also underway. A new dairy plant will also start in Kutch. These large scale mega-expansion projects are part of our Mission 2020 plan," he added.
