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GCMMF Achieves Record Turnover of Rs 55,055 Crore for FY23

Gujarat Co-operative Milk Marketing Federation Ltd, which markets milk and food products under the 'Amul' brand, reported a preliminary turnover of 55,055 crore for the fiscal year 2022-23, representing an 18.5 percent increase over the previous year. The demand for branded consumer products is attributable to the increase.

Shivam Dwivedi
GCMMF Achieves Record Turnover of Rs 55,055 Crore for FY23
GCMMF Achieves Record Turnover of Rs 55,055 Crore for FY23

The fresh products segment increased by 21% and provided 50% of GCMMF turnover. The ice cream range increased by 41%, while consumer items increased by 23% year on year, with cheese, butter, UHT Milk, milk beverages, paneer, cream, buttermilk, and Dahi increasing by 20-40%.

The provisional unduplicated group turnover of Amul Group's 18 member unions has surpassed 72,000 rupees ($9 billion).

GCMMF intends to expand its distribution network across the top 400 cities in terms of population. It also intends to expand its branch and warehouse network from 82 to more than 100 by 2023-24. GCMMF's 18 member Unions purchase an average of 270 million litres of milk per day and operate a network of 98 dairy facilities across India.

"GCMMF is investing in new product categories such as organic foods, high-protein items, probiotic range, and fresh sweets," an official statement said on Saturday. "Each of these product categories will assist Amul in transitioning from India's largest dairy brand to India's leading Food and Beverage FMCG company," the firm said.

"Based on the estimated growth in market demand for Amul products and our future marketing efforts, GCMMF plans to achieve sales turnover of 1,00,000 crore by 2025 and further grow with a Compound Annual Growth Rate of more than 20% over the next seven years due to higher milk procurement, continuous expansion in terms of adding new markets, launching new products, and adding new milk processing capacities across India," said Shamalbhai Patel, Chairman of GCMMF.

"We have achieved volume sales growth in all product categories," said Jayen Mehta, In-charge Managing Director, GCMMF. The most profitable product, pouch milk, has experienced double-digit volume growth. Aside from that, our products such as butter, ghee, ice cream, UHT milk, flavoured milk, paneer, and fresh cream have grown by double digits."

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