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

Gujarat Co-operative Milk Advertising and marketing Federation Ltd. (GCMMF), which markets the favored Amul model of milk and dairy merchandise has registered a provisional turnover of Rs 38,550 crore for the monetary 12 months ended March 31, 2020. The gross sales turnover has been up by 17 per cent over the earlier monetary 12 months’s turnover of Rs 32,960 crore.

GCMMF has been reaching a compound annual development fee (CAGR) of greater than 17 per cent since final 10 years on the again of upper milk procurement, steady growth by way of including new markets, launching of recent merchandise and including new milk processing capacities throughout India, the federation stated on Wednesday.

Equally, the mixed provisional unduplicated group turnover of GCMMF and its 18 member unions has crossed Rs 50,000 crore which can also be 17 per cent increased over final 12 months. The 18 member unions of Amul carries farmer member power of greater than 3.6 million throughout 18,700 villages of Gujarat.

Nevertheless, GCMMF managing director R S Sodhi instructed Enterprise Commonplace that the turnover development was decrease by 1-1.5 per cent on account of COVID-19 (coronavirus) outbreak affecting gross sales and distribution within the latter a part of March.

Nonetheless, the federation said that the turnover was achieved inspite of antagonistic market situation for dairy merchandise at nationwide in addition to at worldwide degree.