Gujarat Cooperative Milk Marketing Federation (GCMMF), marketers of the ‘Amul' & ‘Sagar' brands, announced a 19.3% increase in turnover at its 36th Annual General Meeting.

The company posted INR80.5bn (US$1.72bn) turnover against INR67.11bn in the previous year.

"This is an extremely impressive growth when viewed from the perspective of drought effect and resultant drop in milk procurement, as well as 27.7% growth that we achieved in the year 2008-09," said the dairy cooperative's chairman Shri Parthibhai Bhatol.

Bhatol claimed the Amul brand is now the largest brand of milk in all major metro markets of Delhi, Mumbai, Kolkata and Ahmedabad "Federation has justified its undisputed leadership in milk business by achieving sales growth in pouch milk category by more than 21% and in value terms by 32% from existing markets." he added.

Among the brand's wide range of products, notable increases were seen in Masti Dahi (Yoghurt) (46%), Fresh Cream (39%), chocolate (30%), beverages (25%), ice-cream (22%), Amul Cheese (20%) and UHT milk .

The GCMMF added 2,000 retail outlets to reach over 5,000 during the financial year which added INR3bn turnover, while exports added over INR1bn.

The cooperative is planning to invest INR26bn to help it reach a turnover of INR270bn by 2020.