One of India’s major dairy brands, Amul is looking at a 20 percent growth and a group turnover of around Rs.50, 000 crore says a report by the Press Trust of India (PTI). A high official of the company told the publication that this estimate is based on the growing consumer portfolio, premiumisation and rising demand.
High Turnover For Amul
“The Amul brand, which clocked a turnover of over Rs 40,000 crore last financial year, will grow at 20 per cent this year,” RS Sodhi, the managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF) which is responsible for marketing milk and milk products under the Amul brand told PTI. “We are launching several consumer products, and are also premiumising our offerings. The growing demand will help us see a good growth this year,” he added.
The report further says that Amul brand also includes the 18 member dairies of the Gujarat Co-operative Milk Marketing Federation (GCMMF). The turnover of GCMMF in the financial year 2017-2018 was notably at Rs 29,220 crore giving them an 8 percent of growth. However, Sodhi told PTI that the consumer product portfolio of Amul has been growing to 15 percent based on volume and this has helped in brand’s performance even though there has been lower commodity prices.
“Branded consumer products have registered a growth of 14 per cent in the last financial year, with products such as cheese, butter, milk beverages, paneer, cream, buttermilk and dahi having grown at 20-40 per cent,” Sodhi said. The GCMMF having a farmer strength of more than 36 lakh in Gujarat is able to procure 211 lakhs litres of milk per day on an average which is 20 percent higher than last year.
The PTI report further says that the co-operative has also tied up with Pradhan Mantri Mudra Yojana so that they can ensure easy loans for the farmers working under them. “The scheme will help rural entrepreneurs immensely, to upgrade their facilities and will also help distributors and transporters. It will enhance the overall employment opportunities in rural India,” Sodhi said.
Cover Image: Zee Biz
In-article Image: Business Today