Amul clocks 17% uptick in FY20 sales at Rs 38,550 cr in tepid dairy market

GCMMF has been achieving a CAGR of more than 17 per cent since last 10 years on the back of higher milk procurement

Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF), which markets the popular Amul brand of milk and dairy products has registered a provisional turnover of Rs 38,550 crore for the financial year ended March 31, 2020. The sales turnover has been up by 17 per cent over the previous financial year’s turnover of Rs 32,960 crore. 

GCMMF has been achieving a compound annual growth rate (CAGR) of more than 17 per cent since last 10 years on the back of higher milk procurement, continuous expansion in terms of adding new markets, launching of new products and adding new milk processing capacities across India, the federation said on Wednesday. 

Similarly, the combined provisional unduplicated group turnover of GCMMF and its 18 member unions has crossed Rs 50,000 crore which is also 17 per cent higher over last year. The 18 member unions of Amul carries farmer member strength of more than 3.6 million across 18,700 villages of Gujarat. 

However, GCMMF managing director R S Sodhi told Business Standard that the turnover growth was lower by 1-1.5 per cent on account of COVID-19 (coronavirus) outbreak affecting sales and distribution in the latter part of March. 

Nonetheless, the federation stated that the turnover was achieved inspite of adverse market condition for dairy products at national as well as at international level.