Amul posts 18% jump in turnover at Rs 13,775 cr
Ahmedabad: Gujarat Cooperative Milk Marketing Federation, which markets products under the Amul brand, Tuesday posted 18 percent jump in turnover at Rs 13,735 crore for 2012-13.
The federation had posted a turnover of Rs 11,668 crore in the previous fiscal, and it expects to hit Rs 17,000-crore turnover in 2013-14.
It did not reveal net profit, but federation sources say that it pays dividend to all shareholders which is calculated as price difference of milk (difference between procurement and selling) amounting to nearly Rs 500 crore.
"Amul expanded its distribution footprint to reach 1,200 new geographical markets with addition of 306 new distributors, 65 new super-stockists and 900 new sub-stockists," federation's Chairman Vipul Chaudhary said at the annual general meeting in Anand.
"Plan for 2013-14 includes further expanding distribution reach to 700 new markets with addition of more distributors and super-stockists," he added.
Amul further consolidated its status as the largest single-brand retail in the country by adding 3 Amul Parlors almost every day during 2012-13, taking the total number of exclusive stores to 7000, a federation statement said.
Commenting on growth prospects, Chaudhary said that GCMMF would seek to achieve turnover of Rs 17,000 crore in 2013-14.
GCMMF Managing Director R S Sodhi said the sale of dairy products across the board have been robust and exports to new geographies have perked up, consolidating the federation's leadership position in the global dairy market.
"Our exports have risen from Rs 95 crore in 2011-12 to Rs 140 crore in 2012-13, and we are targetting exports of Rs 300 crore in FY 2014, of which up to Rs 90 crore has already been achieved," Sodhi said.
Meanwhile, GCMMF has begun selling its SMP (Skimmed Milk Products) and WMP (Whole Milk Powder) through Global Dairy Trade platform from June this year, providing it direct access to over 900 big customers globally, he said.
"Our per day milk handling capacity currently is 160 lakh litres, which is set to reach 200 lakh litres per day over the next two years," Sodhi said, adding "We managed to achieve 20 percent growth in milk procurement during 2012-13."
During 2012-13, Amul long-life Ultra High Temperature (UHT) Milk had shown an impressive value growth of 53 percent and sales of Amul cream also increased by 57 percent in value terms, the statement said.
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