Amul turnover grows 13% to Rs 33,150 crore in 2018-19

The Gujarat Cooperative Milk Marketing Federation Ltd., which markets Amul milk and dairy products, reported a 13% increase in turnover to Rs 33,150 crore in the year ended March 31.

The Amul group’s turnover exceeded Rs 45,000 crore, which is also 13% higher than last year.

The Amul Federation has achieved a compound annual growth rate of more than 17.5% for the past nine years on account of higher milk procurement, expansion in markets, launch of new products and addition of milk processing capacities across India, the company said in a statement on Monday.

“We have achieved volume sales growth in all product categories. Pouch milk, which is the highest turnover product, has shown good growth in almost all the markets,” managing director RS Sodhi said.

Amul launched value-added products such as flavoured milk, chocolates, fruit-based Amul Tru, camel milk and an entire new kulfi range in the previous financial year.

Amul Federation expects at least 20% CAGR growth during the next five years, chairman Ramsinh P Parmar said.

“The mantra of rapid expansion has clearly yielded rich dividends for Amul Federation,” he added.

Amul Federation vice chairman Jethabhai Bharwad said member unions plan to enhance their milk-processing capacity to 38 million-40 million litres a day in the next two years from the current level of 35 million litres a day.

Amul’s 18 member unions, with more than 3.6 million farmers across 18,700 villages of Gujarat, procure on average 23 million litres of milk a day, which is 10% higher than last year.

Other than the Amul brand of dairy products, the unions market food products and cattle feed. Close to 80% of the revenue reaches the farmer members of the dairy cooperatives as the cost of milk procurement and bonus.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/amul-turnover-grows-13-to-rs-33150-crore-in-2018-19/68680306