Amul eyes Rs 50,000-crore turnover by 2020
Dairy major GCMMF, which sells products under the Amul brand, is looking to more than double its turnover to Rs 50,000 crore in the next four years on account of rising demand for milk and value-added items, a top company official said.
The turnover of Gujarat Cooperative Milk Marketing Federation (GCMMF) rose 11 per cent to Rs 23,005 crore during 2015-16 fiscal. "After taking into consideration the continuous rise in demand for Amul products, we are anticipating at least 20 per cent growth in our turnover for next 4 years," GCMMF Managing Director R S Sodhi said.
In the last six years, the dairy cooperative's turnover has jumped nearly three-fold to Rs 23,000 crore. "So now, we have set a target of Rs 50,000-crore turnover by 2020 on the back of expected growth in sale of both value added products and milk," Sodhi added.
GCMMF's milk procurement for the year 2015-16 stands at 186 lakh litres per day as against 148.50 lakh litres per day in the preceding fiscal.
Fifty per cent of the Amul's turnover comes from milk sale, commodity business contributes only 5-7 per cent and the rest comes from value-added products segment.