Amul Hits New High: Reports An 18 Percent Increase In Turnover
Amul has been in the news a lot in the last couple of days. From HUL filing a petition against them over their ‘real ice cream’ tagline, to Amul pledging to start a ‘real cheese campaign’. However, it seems as though all the publicity has been paying off. They must be doing something right as Amul reported an 18 percent increase in turnover at Rs 27,085 crore for the last fiscal year on an across-the-board sales increase. While their parent company Gujarat Co-operative Milk Marketing Federation (GCMMF), posted a turnover of Rs 22,972 crore.
R.S Sodhi the managing director of GCMMF stated that they had achieved growth in their sales volume in all of their product categories.
Pouch milk is their product with the highest turnover and has a sales growth that went into double digits! Some of the other products that also hit the double digits were products like butter, ghee, ice cream, UHT milk, flavored milk, paneer and fresh cream.
Sodhi mentioned that demonetization hadn’t affected their sales for the year at all. He also talked about how member unions of GCMMF had opened more than 12.5 lakh new bank accounts for milk producer members in order to ensure that almost their entire payment is processed through bank accounts.
GCMMF has been achieving a compound annual growth rate of more than 20 percent for the last seven years. They’ve largely been able to stay ahead of the curve because of higher milk procurement, continuous expansion in terms of adding new markets, launching new products and adding new milk processing capacities across India.
The chairman of GCMMF, Jethabhai Patel, said that Amul plans to increase their milk processing capacity up to 380 liters from 300 liters in the next three years.
Love em or hate em, it seems like you just can’t beat them. When it comes down to it, Amul knows that all publicity is good publicity.