New Delhi, Nov 29 (PTI) Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which sells dairy products under the 'Amul' brand, is expecting double-digit growth in revenue during this fiscal on strong demand, its MD Jayen Mehta said.
GCMMF had seen a demand of nearly Rs 60,000 crore last year.
GCMMF's turnover increased 8 per cent in the 2023-24 financial year to Rs 59,445 crore.
In an interview with PTI, Mehta said the co-operative has witnessed growth in demand across all product categories, including fresh milk, cheese and ice cream, during the first eight months of the current 2024-25 fiscal.
"We are expecting a double-digit growth in the turnover," he said when asked about the revenue outlook for the full financial year.
Mehta said the GCMMF handled 310 lakh litre of milk per day on average during the last fiscal. It has a total annual milk processing capacity of around 500 lakh litre.
On the expansion plan, he said the GCMMF had announced plans to invest Rs 11,000 crore to expand its capacity through greenfield and brownfield routes.
"We have already invested 80 per cent of our planned Rs 11,000 crore capex," Mehta said.
He said the GCMMF is committed to work for the welfare of farmers.
Asked about its organic food business, he said that the same is doing well and has launched many organic products.
GCMMF is the world’s largest farmer-owned dairy cooperative having 36 lakh farmers across 18,600 villages of Gujarat and its 18 member unions procure 300 lakh litres of milk per day.
It also ranks 8th among the top 20 dairy companies in the world in terms of milk processing, as per the International Farm Comparison Network (IFCN).
Besides the domestic market, GCMMF is exporting dairy products to about 50 countries.
Earlier this year, the GCMMF entered the US market with the launch of four variants of fresh milk to cater to the Indian diaspora and Asian population.