GCMMF is eyeing 20% rise in its turnover this fiscal year at around Rs 40,000 crore.
Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets dairy products under the Amul brand, will be investing Rs 600-800 crore this fiscal in order to set up new milk processing plants and expand the capacity of existing units.
GCMMF had reported a 13% increase in turnover at Rs 33,150 crore during 2018-19. It is eyeing 20% rise in its turnover this fiscal year at around Rs 40,000 crore.
RS Sodhi, Managing Director of Amul, said, “We will invest Rs 600-800 crore during this fiscal on capacity expansion. We invest a similar amount every year. The company is looking at setting up new plants in locations that are closer to the Delhi-NCR market.”
“In the last financial year, our revenue growth was because of the higher volume and there was no price increase across our product portfolio. But, in this year, we are expecting growth in both volume and value terms,” he further added.
Recently, Amul has increased its milk prices by Rs 2 per litre in Delhi NCR, Maharashtra and other states due to higher procurement cost. The brand had last revised milk prices two years back in March 2017.