Talking to Indian Cooperative Managing Director GCMMF that controls Amul, R S Sodhi said he is expecting a high 20 percent growth in the financial year 2020 for the leading dairy co-op.
Sodhi says last year the cooperative netted 13 percent growth in terms of volume. The growth will further be fueled by an increase in purchasing power and improved power infrastructure, Sodhi added.
Sources say GCMMF may easily achieve the set target as it notched up a 22 percent increase in turnover in April. The MD believes several cold beverages the company has launched may also help it achieve its business goals.
It bears recall that GCMMF’s annual turnover has grown to around Rs 33,000 crore in the financial year ending March, 2019 but the cooperative aims to raise it to 1 lakh crore in the next few years.
GCMMF has transformed into the behemoth of the dairy sector in India in a remarkably short time, claimed Sodhi. “The legendary milk man Verghese Kurien was mainly instrumental in bringing about the transformation. Presently, GCMMF has 18 member unions and sprawls across 18,700 villages,” he added hinting at the source of his confidence.
Readers may be aware that GCMMF’ owns the Amul brand that sells products like butter, ghee, yoghurt, butter milk, lassi, flavoured milk and chocolates. Sodhi says he himself is a strong proponent of the idea of a continuous business diversification.
Sodhi said dairy sector claims a significant part of food industry in the country counting around $ 100 million and the 9 crore litre produced in organized sector may go up to 30 crore litre in a few years from now.
Amul recently rolled out new products such as fruit juices under the Amul Tru brand. Amul is also supporting 2019 World Cup of cricket.