Amul clocks its highest growth since inception

Vadodara: Riding on a sharp rise in exports and entry to new markets, homegrown Amul has achieved its highest ever growth of 32% in financial year 2013-14.

It has also achieved the $4.4 billion turnover milestone this year. The Gujarat Cooperative Milk Marketing Federation (GCMMF) that markets brand Amul has crossed Rs 18,000 crore turnover, turning the federation into a $3.1 billion co-operative society.

The projected group turnover of Amul family including unduplicated sales by GCMMF's member unions has touched nearly Rs 26,000 crore (nearly $4.4bn).

The country's largest FMCG brand could have well achieved the $4bn milestone last year but the plunging value of rupee ensured that it stayed at $3.2bn in financial year 2012-13 when the federation had a turnover of Rs 13,735 crore.

"We have achieved 32% growth in our annual turnover which is the highest ever growth since it was set up in 1973. For nearly five years straight, we had achieved 20% growth in our turnover," GCMMF's managing director R S Sodhi told TOI.

GCMMF will declare results of the financial year 2013-14 after holding its 40th annual general meeting at its headquarters in milk city Anand.

In the last financial year, its exports were worth Rs 140 crore which has now touched Rs 525 crore in 2013-14.

While liquid milk — Amul is Asia's largest milk brand — remains the main contributor of its growth with nearly 45% share in GCMMF's turnover, 55% share in turnover comes from other value-added products marketed by GCMMF.

Amulspray, India's largest selling infant food has emerged as second biggest category for GCMMF while Amul butter is the third largest category in Amul's portfolio.

"In all the product categories, be it the traditional ones like butter, ghee, cheese or the new ones like beverages, ice cream, chocolates, cream, tetra pak packages, we have witnessed double-digit growth in volume," said Sodhi.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.