FII-Backed Stock Announces Stellar Q4 Results; Do You Own?

GRM Overseas has informed the stock market that the results of the fourth quarter of the last financial year have been approved in the meeting of the company's Board of Directors on May 29.

GRM Overseas, which exports agri produce, has told the stock market that the company's operating income in the fourth quarter of the last financial year was Rs 405.93 crore, which was Rs 382.48 crore in the previous quarter and Rs 433.62 crore in the fourth quarter of the previous financial year.

The company's profit before tax in the fourth quarter was Rs 26.69 crore, which was Rs 20.18 crore in the previous quarter and Rs 17.96 crore in the fourth quarter of the previous financial year. The company's net profit in the fourth quarter of the last financial year was Rs 21.16 crore, which was Rs 15.49 crore in the previous quarter and Rs 11.27 crore in the fourth quarter of the previous financial year.

Amid the weakness in the stock market, the shares of GRM Overseas Limited, a small cap company with a market cap of about Rs 850 crore, were registering a gain of three percent and were trading at the level of Rs 142.

GRM Overseas is a company exporting agri products, whose shares have a 52-week high of Rs. 230 while the 52-week low is Rs 113. The stock gave multibagger returns of 750 per cent in 5 years and a whopping 6,000 per cent over a decade.

As of March 2024, the company's promoters increased their stake to 72.16 per cent and FIIs increased their stake to 0.26 per cent compared to 71.72 per cent and 0.07 per cent in March 2023.

Recently, the company has received an order from the Ministry of Agricultural, Fisheries Wealth & Water Resources, Sultanate of Oman. According to an exchange filing, this is the maiden government order secured by the company. The order is worth Rs 465 million. GRM has a market for its rice in 42 countries and is India's third leading rice exporter. GRM has received its first order from the Ministry of Agricultural, Fisheries Wealth & Water Resources, Sultanate of Oman, to supply 4,500 MT of Premium basmati rice The order is worth Indian Rupees 465 million.
GRM Overseas Ltd, a leading Indian company in the basmati rice industry, mills, processes, and markets both branded (like their 10X brand) and non-branded basmati rice for both domestic consumption and international export. GRM Overseas sells a variety of Basmati Rice under Brand 10X Zarda King XXL, Wheat flour (atta), gram flour (besan), bulgur (daliya), semolina (sooji), Flattened rice (poha) and more under its 10X Shakti brand. The company also has a ready-to-cook product portfolio including Hyderabadi Biryani, one-pot Moradabadi Biryani and others.