Amul witnesses growth of Rs 23K cr at 11% in FY16

As per the Gujarat Cooperative Milk Marketing Federation (GCMMF) that sells dairy products under the Amul brand, its provisional turnover grew by 11 per cent to Rs 23,005 crore in the concluded fiscal.
Amul rides high on numbers

As per the Gujarat Cooperative Milk Marketing Federation (GCMMF) that sells dairy products under the Amul brand, its provisional turnover grew by 11 per cent to Rs 23,005 crore in the concluded fiscal.

R S Sodhi, Managing Director of GCMMF said that inspite of not increasing the prices of milk last year, the company has 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.

Sodhi further said that 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 as compared with the last financial year.

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

He also said that GCMMF has been achieving a value growth of more than 20 per cent since last six years, but this time it has clocked a growth of 11 per cent as the company has not increased the prices of milk products. The entire sales turnover growth has come because of volume.

Turnover of GCMMF has increased by 187 per cent 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.

GCMMF chairman Jethabhai Patel said that based on estimated growth in market demand for Amul products and company’s future marketing efforts, at least 20 per cent CAGR growth in business of GCMMF is anticipated during next five years.

Patel further said that 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 that there is no chance of it as the cost of fodder, labour and upkeep of milk producing animals has increased.

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