Amul posts sales of Rs 55,055 crore in FY 23

3 Apr 2023 , 08:07 AM

GCMMF, which distributes dairy products under the Amul brand, reported on Sunday that stronger demand helped its sales increase by 18.5% last fiscal year to Rs 55,055 crore. The Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) released a statement in which it revealed that it has recorded a provisional turnover of Rs 55,055 crore for the fiscal year 2022–23.

The demand for branded consumer goods is a major factor in the 18.5% increase in turnover.

‘Our fresh product line increased by 21%, contributing 50% to the GCMMF turnover, while our ice cream selection increased by 41%.

According to the GCMMF, ‘Our consumer products have shown an increase of 23% YOY, with products like cheese, butter, UHT milk, milk drinks, paneer, cream, buttermilk, and dahi growing at a rate of 20–40%.’

The Amul group’s member unions’ provisionally unduplicated group turnover the previous fiscal year exceeded Rs 72,000 crore (USD 9 billion).

GCMMF is expanding its network of 82 branch and warehouse facilities to more than 100 in 2023–2024 with a focus on boosting our distribution across the top 400 towns in terms of population and strengthening the distributors and retail universe in these towns.

The 18-member unions of GCMMF, which have over 36 lakh farmer members spread throughout 18,600 Gujarati villages, purchase an average of 270 million litres of milk per day.

The GCMMF member unions have built a network of 98 dairy factories to supply the demand for milk and milk products in India’s major metropolises.

In order to move from being India’s largest dairy brand to being India’s leading Food and Beverage FMCG company, GCMMF is investing in new product categories like organic foods, high protein items, probiotic range, and fresh sweets.

Shamalbhai Patel, Chairman of the GCMMF, stressed that GCMMF’s slogan of rapid expansion has unquestionably paid off handsomely.

According to Patel, ‘GCMMF expects to achieve sales turnover of Rs. 1,00,000 crore by 2025 and subsequently grow with a compound annual growth rate of more than 20% over the next seven years…based on an expected rise in market demand for Amul products and our future marketing initiatives.

According to the Chairman, the expansion will be supported by increased milk procurement, ongoing development into new markets, new products, and new milk processing facilities across India.

The managing director of GCMMF in charge, Jayen Mehta, stated, ‘We have achieved volume sales increase in all product categories.

Pouch milk, the product with the biggest turnover, has had a double-digit volume increase, in addition to items like butter, ghee, ice cream, UHT milk, flavored milk, paneer, and fresh cream.

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