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Amul turnover up 8% at 29,220 crore in FY18

Amul turnover up 8% at 29,220 crore in FY18

APRIL 2 2018

 

The Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), which markets Amul brand of dairy and food products, reported a provisional turnover of 29,220 crore for the fiscal 2017-18, which is 8 per cent higher than 27,043 crore reported last year.

 

According to a statement released by the Federation on Monday, the provisional unduplicated group turnover of Amul brand — that includes 18 member dairies of the federation, has crossed 41,000 crore — up 10 per cent from last year.

 

Growth rate

 

The branded consumer products have registered a growth of 14 per cent over previous year with products such as cheese, butter, milk beverages, paneer, cream, buttermilk and dahi having grown at 20-40 per cent.

 

The single digit growth in Amul turnover is attributed to the decline in commodity sales by about 60 per cent as a result of depressed market conditions in the global arena.

 

Amul Federation has been achieving a Compound Annual Growth Rate of more than 18 per cent since last eight 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.

 

“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,” Ramsinh Parmar, Chairman, GCMMF said adding that Amul plans to enhance its milk processing capacity from the current level of 320 lakh litres per day to 380-400 lakh litres per day in the next two years.

 

GST impact

 

Commenting on the impact of the GST, RS Sodhi, Managing Director, GCMMF, said: “There is a positive impact of GST on our business and we are committed to achieve sales turnover of 50,000 crore by 2020-21.”

 

 

Source:https://www.thehindubusinessline.com

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