The Gujarat Co-operative Milk Marketing Federation Limited, which markets popular brand Amul, has registered a provisional turnover of Rs 27,085 crore for the financial year 2016-17.
According to chairman of GCMMF, Jethabhai Patel, this is 18 per cent more than the turnover of the previous financial year.
GCMMF, which has been following the cooperative model shown by father of the white revolution late Dr Verghese Kurien, has seen an increase in turnover by 3.5 times in the last seven years.
Managing director of GCMMF R.S. Sodhi said that there was no negative impact of demonetisation on their business.
According to the company, it has planned to achieve sales turnover of Rs 50,000 crore by 2020-21.
In a bid to expand its reach and make the milk available across the country, especially the interior areas, the GCMMF has started 14 new branches in the last four years. It has also started creating their own milk processing plants in Haryana, Uttar Pradesh, Maharashtra, Madhya Pradesh, West Bengal and Rajasthan.
The name behind Amul is backed by solid strength of 36 lakh farmers in 18,700 villages of Gujarat. It daily procures milk at an average of 177 lakh litre.
It ranks among the top 13 dairy companies in the world in terms of milk processing, as per International Farm Comparison Network (IFCN).
According to Patel, Amul plans to enhance its milk processing capacity from the current level of 300 lakh litres per day to 380 lakh litres per day in the next three years.