Amul To Invest Rs 1,500 Crore In Next Two Years
Amul to invest Rs 1,500 crore for setting up dairy, edible oil, bakery, and potato processing plants in two years. The GCMMF managing director said that the company has also ventured into the sweet edible oil and potato processing segment. Gujarati Cooperative Milk Marketing Federation Limited (GCMMF), which sells its products under the Amul brand, will invest Rs 1,500 crore in the coming two years.
Out of this Rs 1,500 crore, the company will spend Rs 1,000 crore for setting up a milk processing plant and Rs 500 crore for new products. GCMMF managing director RS Sodhi said that the company expects revenue growth of 12 to 15 percent in the current financial year.
GCMMF’s revenue was Rs 38,550 crore in FY 2019-20. Sodhi said that due to the increase in demand for branded food products, he expects a good income despite the corona virus epidemic. Sodhi said that they will increase the processing capacity of Amul to 420 lakh liters per day. It is now 380 lakh liters per day.
GCMMF managing director said that the company has also ventured into the sweet, edible oil and potato processing segment. He said that the company has also started producing bakery related products for sweets. Sodhi said that the company will trade edible oil under the new brand ‘Janmay’.
Mustard oil, soybean oil, groundnut oil, cottonseed oil, and sunflower oil will be produced under this brand. Sodhi said that the company has some plants for bakery, potato processing, and edible oil and will invest in setting up new plants in two years.
Meanwhile
Vodafone Idea, the flagship company of the telecom sector, is scheduled to make some strategic announcements today. These announcements are eyeing the company’s users to shareholders. The company will announce this through a virtual platform. Vodafone Idea has given this information to the stock markets.
The entire industry is also eyeing today’s announcements of the company, which is trying to save its existence in the fiercely competitive telecom market due to weak balance sheets. The company has informed about the announcement of strategic investment after the Supreme Court’s decision related to AGR.
The Supreme Court, in its judgment, gave the telecom companies 10 years to pay the outstanding adjusted gross revenue (AGR). However, Vodafone Idea Limited sought 15 years for this.
