Amul milks FY17 sales by 17.5% to `27,043 cr
The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets the popular Amul brand of milk and dairy products, has clocked a turnover of Rs 27,043 crore in fiscal 2017, an in crease of 17.5 per cent over the previous year.
However, the growth rate in the reporting year is much lower than the previous year's, when it clipped at 67 per cent to Rs 23,004 crore over fiscal 2015. The cooperative said its turnover has increased by 3.5 times– from Rs 8,005 crore in fiscal 2010 to Rs 27,043 crore in fiscal 2017 and attributed this to the rapid expansion of its procurement, processing and distribution network, and the cooperative has decided to further augment these segments this year. "The cooperative will be rapidly expanding milk procurement, increase manufacturing facilities and marketing and distribution network," it said. The turnover has registered quantum growth of 238 per cent in the past seven years, which implies the cumulative average growth rate (CAGR) of 19 per cent during this period.
The group turnover and its constituent member unions, representing unduplicated turnover of all products sold under Amul brand was Rs 38,000 crore for the year.
The nation's largest cooperative aims to achieve a business turnover of Rs 50,000 crore and become the largest FMCG player in the country by fiscal 2021, the company said. pti