The pride of India’s dairy cooperative, GCMMF—better known as the owner of the Amul brand—has seen an 8% growth in the last financial year. The Gujarat Co-operative Milk Marketing Federation’s turnover crossed Rs 59,445 crore.
These figures were revealed during the 50th Annual General Meeting (AGM) held in Anand, Gujarat, on Saturday. It’s worth recalling that September 30th is the deadline by which multistate cooperatives must hold their AGMs.
Speaking at the event, Shamalbhai Patel, Chairman of GCMMF, said, “GCMMF has achieved a historic milestone of emerging as the strongest food brand in the world in its golden jubilee year.”
“We are planning continuous expansion in terms of adding new markets, launching new products, and increasing milk processing capacities across India,” he added.
“In the Golden Jubilee year of GCMMF, the organization registered a turnover of Rs 59,545 crore (USD 7 billion) for the financial year 2023-24, with a growth of 8 percent year-on-year,” the cooperative said in a statement after its 50th Annual General Meeting, reports PTI.
The group turnover of the Amul brand reached Rs 80,000 crore (USD 10 billion) in 2023-24, up from Rs 72,000 crore (USD 9 billion) in 2022-23.
Amul continues to generate exciting news. With successful outlets already operational in cities like Mumbai, Ahmedabad, Statue of Unity, Surat, Jaipur, Lucknow, Nashik, and Anand, the Amul Ice Lounge was recognized with the prestigious Times Food & Nightlife Award 2024 in the category of Best Ice Cream Lounge – Premium Dining.
The Amul brand has also expanded its product range in the U.S. after launching fresh milk in partnership with the Michigan Milk Producers Association. Upcoming expansions are planned for Canada and other global markets.
Announcing its global outreach, Amul was featured on one of the mega billboards at America’s Times Square in New York. Amul’s “Be More Milk” campaign was displayed on the billboard at the Nasdaq MarketSite.
As recently as June this year, GCMMF sponsored the USA men’s cricket team in the upcoming T20 World Cup. Amul’s association with international cricket dates back to 2011, having sponsored teams such as the Netherlands, South Africa, and Afghanistan.