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DAIRY PRODUCTS

GCMMF registers provisional turnover of Rs 29,220 crore for FY 2017-18
Wednesday, 04 April, 2018, 08 : 00 AM [IST]
Our Bureau, Mumbai
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 29,220 crore for the financial year 2017-18 which ended on March 31, 2018.

Its branded consumer products registered a growth of 14 per cent over the previous year, with products such as cheese, butter, milk beverages, paneer, cream, buttermilk and dahi having grown at 20-40 per cent.

The brand’s provisional unduplicated group turnover has crossed Rs 41,000 crore, which is 10 per cent higher than last year.

The total turnover of GCMMF has witnessed a growth of eight per cent over the previous year, which is largely due to the decline of 60 per cent in the commodity sales as a result of depressed market conditions in the global and local markets.

It has been achieving a compound annual growth rate (CAGR) of over 18 per cent for the last eight years, because of higher milk procurement, continuous expansion in terms of adding new markets, launching of new products and addition of new milk processing capacities across India.

In order to reach the interior markets, GCMMF has started 15 new branches in India in the last five years. Further, it has also appointed several distributors at smaller towns and villages to ensure consumers in these markets also benefit from availing quality products at reasonable prices. Apart from this, it has launched over 50 new products in the last two years to cater to the ever-growing and ever-changing consumer needs.

The 18 member unions of GCMMF, with a farmer member strength of more than 36 lakh across 18,700 villages of Gujarat, are procuring, on an average, 211 lakh litre of milk per day, which is 20 per cent higher than last year.  

Ramsinh P Parmar, chairman, GCMMF, emphasised the fact that the mantra of rapid expansion had clearly yielded rich dividends for the federation.

“Based on the estimated growth in the market demand for Amul products and our future marketing efforts, we anticipate at least 20 per cent CAGR growth in GCMMF’s business during the next five years. The chairman added that Amul planned to enhance its milk processing capacity from the current level of 320 lakh litre per day to 380–400 lakh litre per day in the next two years,” he added.

R S Sodhi, managing director, GCMMF, said, “We have achieved volume sales growth in all product categories. Pouch milk, which is the highest turnover product, has shown double-digit value growth. In addition to this, our dairy products such as cheese, butter, milk beverages, paneer, ultra-high temperature (UHT) milk, flavoured milk, paneer and fresh cream have also shown double-digit value growth.”

He added that there was a positive impact of Goods and Service Tax (GST) on our business, and we are committed to achieve a sales turnover of Rs 50,000 crore by 2020-21.

“Every year, we are getting better results because of the strong foundation laid down and the value system created by our founder chairman, late V Kurien, and the selfless and visionary leadership of the late Tribhuvandas Patel and the late Motibhai Chaudhary,” Sodhi said.

GCMMF passes on 80-85 per cent of the consumer rupee back to milk producer members, thus encouraging them to produce more milk.
 
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