In a historic milestone for the global dairy industry, the Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets the Amul brand, has officially surpassed a turnover of ₹1,00,000 crore ($12 billion) for the fiscal year ended March 31, 2026 (FY26).
This achievement cements Amul’s position as the largest FMCG company in India and moves it closer to its goal of becoming the “World’s Largest Dairy.”
1. The Road to ₹1 Lakh Crore
Amul’s growth trajectory in FY26 was driven by a 16% year-on-year increase in revenue, fueled by record-high milk procurement and aggressive expansion into value-added products (VAP).
| Metric | FY25 (Actual) | FY26 (Actual) | Growth |
| Total Turnover | ₹86,000 Cr | ₹1,01,200 Cr | ↑ 17.6% |
| Milk Procurement | 300 Lakh Litres/Day | 345 Lakh Litres/Day | ↑ 15% |
| VAP Revenue Share | 35% | 42% | ↑ 7% |
2. Key Growth Drivers in FY26
The “₹1 Lakh Crore” feat was made possible by three strategic pillars:
- The Organic Push: Amul’s “Organic Bharat” initiative reached over 10,000 outlets in FY26. Beyond milk, the brand successfully scaled organic pulses, grains, and spices, tapping into the premium health-conscious urban market.
- Global Expansion: Following its successful launch of fresh milk in the United States (via Michigan Milk Producers Association) in 2025, Amul expanded its fresh-category footprint to the European Union and Japan in early 2026.
- Value-Added Domination: While liquid milk remains the core, high-margin products like Amul Protein Shakes, probiotic curd, and gourmet chocolates saw a 40% growth in volume, contributing significantly to the bottom line.
3. Impact on the Cooperative Model
The true success of the ₹1 lakh crore milestone is its impact on the 3.6 million farmers who own the cooperative.
- Farmer Payouts: GCMMF passed back approximately 80–85% of every rupee earned directly to the milk producers.
- Daily Liquidity: In FY26, Amul distributed over ₹250 crore every single day to village-level societies, providing a massive economic stimulus to rural Gujarat and neighboring states.
- Expansion Beyond Gujarat: Currently, 25% of Amul’s total milk is sourced from outside Gujarat (including Punjab, Rajasthan, and West Bengal), a share that is expected to rise to 40% by 2030.
4. Comparison: The FMCG Leaderboard
Amul has now widened its lead over other major FMCG players in the Indian market, proving the resilience of the cooperative model against multinational corporations.
| Company | Est. FY26 Revenue (India) | Key Category |
| Amul (GCMMF) | ₹1,01,200 Crore | Dairy & Organics |
| Hindustan Unilever | ~₹72,000 Crore | Home & Personal Care |
| Adani Wilmar | ~₹58,000 Crore | Edible Oils & Foods |
| Nestlé India | ~₹24,000 Crore | Processed Foods |
5. Future Goal: $20 Billion by 2030
With the ₹1 lakh crore milestone in the bag, GCMMF Managing Director Jayen Mehta has set a new sights on the next decade.
- Vertical Integration: Investing ₹15,000 crore over the next two years in new processing plants and “cold-chain-to-home” technology.
- Carbon Neutrality: A roadmap to make Amul a “net-zero” dairy by 2040, starting with methane-reduction programs for its millions of cattle.
“Surpassing ₹1 lakh crore is not just a financial victory; it is a victory for the Indian farmer,” said Jayen Mehta. “It shows that a model based on ‘value for many’ can outperform a model based on ‘value for money’.”