Amul brand sales revenue crosses Rs. 72,000 crores

The Gujarat Co-operative Milk Marketing Federation (GCMMF) has registered a group turnover of Rs. 72,000 crores, turning it into a US$ 9 billion body. India’s largest cooperative, which has 18 district dairy unions in Gujarat as its member unions, registered a group turnover of Rs. 61,000 crores in the previous financial year.

In fact, Amul had registered a provisional turnover of Rs. 55,055 crores for the year 2022–23, which ended on March 31. Riding high on the back of post-Covid-19 pandemic recovery and spiraling demand for branded dairy products, GCMMF’s turnover has grown by 18.5% compared to the Rs 46,481 crore recorded last fiscal.

The provisional unduplicated sales of Amul-branded products sold by all 18 member unions have crossed Rs. 72,000 crores. At the moment, the dairy giant is planning to achieve a sales turnover of Rs. 100,000 crores by 2025.

GCMMF is increasing its network of 82 branches and warehouse infrastructure to more than 100 in 2023–24, with a focus on increasing product distribution across the top 400 towns in terms of population. It currently has 36 lakh farmers as registered members in 18,600 villages in Gujarat, procuring an average of 270 lakh liters of milk per day. The group has a network of 98 dairy plants. GCMMF is currently ranked 8th among the top 20 dairy companies in the world in terms of milk processing, as per the International Farm Comparison Network (IFCN).

GCMMF’s in-charge managing director, Jayen Mehta, said, “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, flavoured milk, paneer, and fresh cream have also shown double-digit growth.”.

Fresh products like pouch milk, which contributes almost 50% to GCMMF’s turnover, have grown by 21%, while the ice cream range has grown by 41%. Amul enjoys the largest market share in the organized domestic ice cream market, which had crossed Rs. 9,000 crores value in the last financial year.

“Our consumer products have registered a growth of 23% year on year, with products such as cheese, butter, UHT milk, milk beverages, paneer, cream, buttermilk, and dahi having grown at 20–40%,” he said.

“Based on estimated growth in market demand for Amul products and our future marketing efforts, we (GCMMF) plan to achieve a sales turnover of Rs. 1,00,000 crores by 2025 and further grow with a compound annual growth rate of more than 20% over the next seven years. This is because of higher milk procurement, continuous expansion in terms of adding new markets, launching new products, and adding new milk processing capacities across India,” said GCMMF’s chairman, Shamalbhai Patel.