GCMMF (Amul) crosses Rs.55,055 Crores sales turnover with 18.5% growth (YoY)

Gujarat Co-operative Milk Marketing Federation, which markets the popular Amul brand of milk and dairy products has registered a provisional turnover of Rs. 55,055 Crores for the financial year 2022-23, which ended on 31 March 2023. The GCMMF turnover growth of 18.5% is largely due to demand for branded consumer products. Our fresh products grew by 21% with a contribution of 50% to the GCMMF turnover and Ice Cream range grew by 41% while our consumer products have registered a growth of 23% YOY with products such as Cheese, Butter, UHT Milk, Milk Beverages, Paneer, Cream, Buttermilk and Dahi having grown at 20-40%. The provisional unduplicated group turnover of member unions of Amul group has crossed Rs 72,000 Crores (USD 9 Billion).

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

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 liters 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.

GCMMF ranks 8th among the top 20 dairy companies in 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 products categories such as Organic Foods, High Protein Products, Probiotic range, 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 product category will help Amul transition from India's largest dairy brand to India's largest Food and Beverages FMCG company.

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

Shamalbhai Patel, chairman, GCMMF, emphasized that the mantra of rapid expansion has clearly 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. 1,00,000 crores by 2025 and further grow with a Compound Annual Growth Rate of more than 20% 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 lakhs milk producer members of Gujarat, Vallambhai Humbal, vice chairman, GCMMF has conveyed his sincere gratitude to the Government of Gujarat and the Government of India for their continuous and timely support for various schemes related to milk producers.

Jayen Mehta, in-charge managing director, GCMMF said, "We have achieved volume sales growth in all product categories. Pouch milk which is the highest turnover product has shown volume growth in double digit apart from this, our products like butter, ghee, Ice Cream, UHT milk, flavored milk, Paneer, and fresh cream have also shown double-digit growth."

"We also thank the Hon. Prime Minister Shri Narendra Modi and Hon. Minister of Home Affairs and Cooperation Amit Shah for their continuous focus on developing the cooperative sector and in inspiring the creation of 3 multi-state cooperatives, including National Cooperative Organic Limited (NCOL) and National Cooperative Exports Limited (NCEL) to provide guidance for producing organic products, creating market access, and doubling the farmer's income."

It is important to note that GCMMF passes on 80-85% of consumer rupee back to milk producer members, thus encouraging them to produce more milk.