606% Return In 3 Yrs, GRM Overseas Expands Brand Portfolio

GRM Overseas, one of top Basmati rice exporters in India, has introduced its latest line of packaged products as the company expands its '10X Shakti' brand portfolio. The new products include besan, caliya, maida, poha and sooji.

The new products will be available to consumers through general trade and modern trade channel, with a special focus on the various e-commerce platforms to ensure a wider reach of these products.

"These products are widely used products across the country and have been carefully crafted to enhance the daily lives of consumers, providing convenience, quality and reliability which GRM has a legacy of," the company said in a statement.

Speaking about the new product launches, Atul Garg, MD, said, "The high-quality offerings underscore the company's commitment to providing households with reliable and healthy products, thereby improving the lives of valued customers. We have carefully crafted this new product range to ensure it aligns perfectly with the ever-evolving demands of modern households."

"This is an important and progressive step for our domestic branded business. We are sure that these new products will be highly appreciated by customers and further increase our brand presence and recognition within the domestic market," he said.

Incorporated in 1974, GRM Overseas is growing to become a consumer staples organisation. The company has three rice processing units with an overall annual production capacity of 4,40,800 MT-based out of Panipat (Haryana), Naultha (Haryana) and Gandhidham (Gujarat).

Additionally, the company has a warehousing facility of 1.75 Lakhs sq ft space adjacent to the Gandhidham plant facilitating speedy shipments from Kandla and Mundra ports.

The stock price went up from Rs 0.93 on February 20, 1996 to the current market price, representing an all-time high of 18,489.29%. The stock has achieved a multibagger return of 944% over the previous five years and a return of 607% during the last three years. The stock price has dropped 51% in the previous year, and the scrip has dropped 57.86% year to date in 2023. The stock closed today at Rs 174 per share on the BSE, up 0.29% from the previous closing of Rs 173.50.