Dairy major GCMMF, which sells milk and other dairy products under Amul brand, on Sunday said its turnover is likely to increase by 21 per cent this fiscal at about Rs22,000 crore on higher growth in volumes.
Gujarat Cooperative Milk Marketing Federation ltd (GCMMF) is undertaking major expansion to increase milk processing capacity to 320 lakh litre per day from the current 230 lakh litre per day, its Managing Director R S Sodhi said.
With comfortable supply-demand situation, he ruled out any rise in retail milk prices for at least next 3-4 months. "We expect our turnover to reach about Rs22,000 crore in the current fiscal from Rs18,143 crore last year. The higher turnover is because of volume growth as there has been not much increase in prices," Sodhi told the news agency.
In terms of percentage, he said the turnover growth would be lower than the 32 per cent achieved last year. "We are witnessing growth in all segments including milk and ice-cream," Sodhi said. Asked about expansion, he said the company was setting up facilities at different parts of the country to increase processing capacity to 320 lakh litres per day in the next three years. The new plants are being set up in Gujarat, Haryana, Uttar Pradesh and West Bengal.
