Amul brand operator GCMMF says turnover rises 8 pc to Rs 59,445 cr in FY24

New Delhi/Ahmedabad,: GCMMF, the company behind the Amul brand of dairy products, announced on Saturday that its revenue has risen by 8 percent to Rs 59,445 crore in the fiscal year ending March 2024 due to improved sales. During GCMMF's Golden Jubilee year, the cooperative announced a turnover of Rs 59,545 crore (USD 7 billion) for the financial year 2023-24, showing an annual growth of 8 per cent, according to a statement released after its 50th annual general meeting.

Brand Amul's group turnover increased from Rs 72,000 crore (USD 9 billion) in 2022-23 to Rs 80,000 crore (USD 10 billion) in 2023-24. According to Brand Finance, UK, Amul has been recognized as the strongest food brand and dairy brand globally. GCMMF stated that it is the biggest dairy cooperative owned by farmers globally, with 36 lakh farmers from 18,600 villages in Gujarat. Its 18 member unions collect 300 lakh liters of milk daily.

GCMMF is also ranked as the 8th top dairy company in the world for milk processing by the International Farm Comparison Network (IFCN). Chairman of GCMMF, Shamalbhai Patel, stated that in its fiftieth year, GCMMF has reached a significant achievement by becoming the top food brand worldwide. He also mentioned that we are planning to constantly grow by expanding into new markets, launching new products, and increasing milk processing capacities in various locations in India.