New Delhi, May 12 (PTI) Dairy major GCMMF, which sells milk under the Amul brand, today said it is expecting an 18 per cent rise in turnover this fiscal at Rs 24,500 crore on the back of rising consumption.
The company expects milk procurement to increase 13-14 per cent while prices of products are likely to tick up 4-5 per cent compared with the last financial year.
"Our turnover is likely to reach Rs 24,500 crore during 2015-16. We see growth in sales, both in volume as well as volume terms," GCMMF Managing Director R S Sodhi told PTI on the sidelines of a food processing event here.
Gujarat Co-operative Milk Marketing Federation (GCMMF) had posted a revenue of Rs 20,730 crore in the previous fiscal. Sodhi said the company is witnessing a higher consumption of dairy products on "increased prosperity" and more availability of branded and packaged products.
GCMMF has expanded procurement network outside Gujarat, in Rajasthan, Haryana, Uttar Pradesh, Maharashtra, West Bengal and Punjab.
Sodhi said the procurement of cow milk is currently being done at Rs 27-28 per litre and for buffalo milk, it stands at Rs 40-41 per litre.
Out of total milk procurement, 60 per cent is buffalo milk. GCMMF's MD said the company will also focus on increasing sales of bulk commodities like skimmed milk powder and ghee.
Its revenues of bulk commodities declined by over 70 per cent during the last fiscal due to a drop in global prices.
The company is carrying over the last year's stock. Sodhi said expansion of the GCMMF is under way according to the plan.
Amul is setting up more than 10 dairy plants in different parts of the country at an investment of about Rs 5,000 crore.
Sodhi said the milk processing capacity would increase to 320 lakh litres per day in the next two years post expansion from the current 230 lakh litres per day.