Amul turnover grows 11% to Rs 23K crore in FY16

Gujarat Cooperative Milk Marketing Federation (GCMMF), which sells dairy products under the Amul brand, said its provisional turnover grew by 11 percent to Rs 23,005 crore in the just concluded fiscal.

The company had reported a turnover of Rs 20,733 crore in the 2014-15 fiscal.

"Inspite of not increasing the prices of milk last year, we have achieved increase in turnover by 11 per cent which stands at Rs 23,005 crore this financial year in comparison to Rs 20,733 crore in the previous corresponding period," said RS Sodhi, Managing Director of GCMMF.

Sodhi further said the provisional unduplicated group turnover of member unions of Amul Group has crossed Rs 33,000 crore which is also higher by 14 per cent compared with the last financial year.

This figure comes by adding up the turnover of some dairy union members who are part of the Amul Group but not part of GCMMF like Sumul diary of Surat, Sodhi added.

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"GCMMF has been achieving a value growth of more than 20 percent since last six years, but this time it has clocked a growth of 11 per cent as we have not increased the prices of milk products. The entire sales turnover growth has come because of volume," he added.

Turnover of GCMMF has increased by 187 percent during the last six years. GCMMF's milk procurement for the year 2015-16 stands at 186 lakh litre per day as against 148.50 lakh litre per day during last fiscal.

"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 business of GCMMF during next five years,' GCMMF chairman Jethabhai Patel said.

Patel further said Amul is planning to enhance its milk processing capacity to 380 lakh litre per day in the next five years from the current level of 281 lakh litre per day.

Sodhi ruled out decrease in the prices of milk this summer by GCMMF and said there are no chance of it as the cost of fodder, labour and upkeep of milk producing animals has increased.