GCMMF (Amul) crosses Rs.55,055 crores sales turnover with 18.5% growth in 2022-23

GCMMF (Amul) crosses Rs.55,055 crores sales turnover with 18.5% growth in 2022-23

Gujarat Co-operative Milk Marketing Federation (GCMMF), popularly known as Amul, has registered a provisional turnover of Rs. 55,055 crores for the financial year 2022-23 which ended on 31st March 2023. The GCMMF turnover growth of 18.5 per cent which is largely due to demand for branded consumer products, the cooperative federation said today.

“Our fresh products grew by 21 per cent with a contribution of 50 per cent to the GCMMF turnover and the ice cream range grew by 41 per cent while our consumer products have registered a growth of 23 per cent YoY with products such as cheese, butter, UHT milk, milk beverages, paneer, cream, buttermilk and dahi having grown at 20-40 per cent. The provisional unduplicated group turnover of member unions of Amul group has crossed Rs. 72,000 crores (USD 9 billion),” GCMMF said.

“With a focus of increasing our distribution across top 400 towns in terms of population, GCMMF is increasing its network of 82 branches and warehouse infrastructure to more than 100 in 2023-24 while also increasing the distributors and retail universe in these towns,” Amul informed about its plans.

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“The 18 member unions of GCMMF with farmer member strength of more than 36 lakhs across 18,600 villages of Gujarat are procuring on an average 270 lakhs litres of milk per day. To meet milk and milk product demand in major metros of India, the member unions of GCMMF have set up a network of 98 dairy plants,” the dairy brand informed.

GCMMF ranks 8th among the top 20 dairy companies in the world in terms of milk processing as per International Farm Comparison Network (IFCN) and Amul is also the strongest dairy brand as per Brand Finance 2022 report, UK and as well as annually distributes 2,000 crores packs of products across India.

“GCMMF is investing in new product categories such as organic foods, high protein products, probiotic range, and fresh sweets as each product category will help ensure our future generations of consumers will be nourished with goodness of healthy and tasty products. Each of these product categories will help Amul transition from India’s largest dairy brand to India’s largest food and beverages FMCG company,” the dairy federation said.

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To cater to evolving international taste buds of consumers, GCMMF launched its 1st International Ice Cream Lounge in Pune wherein special 13 flavours of ice cream can be experienced, each flavour representing a country of its origin. This model will be replicated across all major cities and airports.

Shamalbhai Patel, Chairman, GCMMF, emphasised the fact that the mantra of rapid expansion has yielded rich dividends for GCMMF. “Based on estimated growth in market demand for Amul products and our future marketing efforts, GCMMF plans to achieve sales turnover of Rs. 100,000 crores by 2025 and further grow with a compound annual growth rate (CAGR) of more than 20 per cent over the next seven years because of higher milk procurement, continuous expansion in terms of adding new markets, launching of new products, and adding new milk processing capacities across India.”

On behalf of 36 lakh milk producer members of Gujarat, Vallambhai Humbal, Vice Chairman, GCMMF has conveyed his gratitude to Government of Gujarat and Government of India for their continuous and timely support for various schemes related to milk producers.

Jayen Mehta, In-charge Managing Director, GCMMF said that “We have achieved volume sales growth in all product categories. Pouch milk which is the highest turnover product has shown volume growth in double digits apart from this, our products like butter, ghee, ice cream, UHT milk, flavoured milk, paneer, and fresh cream have also shown double-digit growth.”

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