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Gujarat Co-operative Milk Marketing Federation Ltd, which markets milk and food products under ‘Amul’ brand registered a provisional turnover of ₹55,055 crore for the financial year 2022-23, indicating a growth of 18.5 per cent over previous year. The growth is attributed to the demand for branded consumer products.
The fresh products category grew by 21 per cent and contributed 50 per cent to the GCMMF turnover. The ice cream range grew by 41 per cent, while consumer products grew by 23 per cent y-o-y with products such as cheese, butter, UHT Milk, milk beverages, paneer, cream, buttermilk and dahi growing in the range of 20-40 per cent.
The provisional unduplicated group turnover of the 18 member unions of Amul Group has crossed ₹72,000 crore ($9 billion).
Read also: India to contribute 33% to world milk output by 2033-34: Amit Shah
GCMMF looks to increasing distribution network across top 400 towns in terms of population. And it plans to increase branch and warehouse network from 82 currently to more than 100 in 2023-24.
The 18 member Unions of GCMMF are procuring on an average 270 lakhs litres of milk per day and have a network of 98 dairy plants across India.
An official statement on Saturday said, “GCMMF is investing in new products categories such as organic foods, high-protein products, probiotic range, fresh sweets. Each of these product categories will help Amul transition from India’s largest dairy brand to India’s largest Food and Beverages FMCG company,” it added.
Shamalbhai Patel, Chairman, GCMMF, said, “Based on the estimated growth in market demand for Amul products and our future marketing efforts, GCMMF plans to achieve sales turnover of ₹1,00,000 crore by 2025 and further grow with a Compound Annual Growth Rate of more than 20 per cent over the next seven 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 India.”
Also read: From Anand, Amul to anchor NCOL to boost India’s organic exports
Jayen Mehta, In-charge Managing Director, GCMMF commented, “We have achieved volume sales growth in all product categories. Pouch milk which is the highest turnover product has shown volume growth in double digits. Apart from this, our products like butter, ghee, ice cream, UHT milk, flavored milk, paneer, and fresh cream have also shown double-digit growth.”
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