GRM Overseas Launches New Ad Campaign Featuring Salman Khan; Buy For TP Rs 302 Says Choice Broking

GRM Overseas Limited promoted its premium Basmati rice brand, 10X Zarda King, on Wednesday with the launch of its newest advertising campaign, #RishtaMubarak. Bollywood superstar Salman Khan, the brand's new face, is featured in the campaign. In contrast to the previous closing of Rs 282, GRM Overseas' shares began higher on the NSE on Wednesday at Rs 285.

To market its premium Basmati rice brand, 10X Zarda King, its latest advertising campaign, #RishtaMubarak, has been created. Bollywood superstar Salman Khan, the company's new face, is positioned in the campaign to raise brand awareness and establish 10X Zarda King as the go-to option for all genuine biryani recipes.

In Uttar Pradesh, Delhi-NCR, Haryana, Rajasthan, and Jammu & Kashmir, Zarda King has become a favorite among chefs, wedding caterers, and biryani restaurants.

Mr. Atul Garg, Managing Director of GRM Overseas, said: "Salman Khan represents much more than his cinematic success; he embodies a sense of familiarity, trust, and strong relationships - principles that resonate with the essence of Zarda King. His presence will undoubtedly strengthen our brand's identity and help us deepen our connection with families who cherish traditions, celebrations, and great food. With Salman Khan endorsing the brand, we are confident that Zarda King will continue to be the first choice for chefs, home cooks, and food lovers across India."

GRM Overseas Limited unveiled a campaign for 10X Classic Chakki Fresh Atta earlier on March 10th, showcasing Bollywood actor Salman Khan, the company's newly appointed brand ambassador. With the new campaign #RishtaMubarak and an endorsement by Salman Khan, GRM Overseas is poised to strengthen its foothold in the market and change the definition of premium Basmati rice for consumers in India and in other countries.

In terms of finances, GRM Overseas announced impressive results for the quarter that concluded on December 31, 2024. The company's overall sales increased 19.4% QoQ to Rs 382.2 Crores from Rs 320.2 Crores in Q2FY25. GRM Overseas reported that its net profit was Rs 13.5 crores, a QoQ jump of 47.3% from Rs 9.2 crores in Q2FY25, while its EBITDA was Rs 23.3 crores with a margin of 6.1% in Q3FY25 compared to a 5.0% margin in Q2FY25.

GRM stock has provided outstanding multibagger returns of 2,378% in the last 5 years and an incredible 6,690% over the last decade. This speaks volumes of the company's strong business framework and the trust investors have placed in it over the years.

Due to solid technicals, Sumeet Bagadia, executive director of Choice Broking, has maintained a buy call on GRM Overseas' shares. For a target price of Rs 302, the analyst recommended buying the stock in cash at Rs 282.75, with a stop-loss at Rs 273. The stock's growing buying momentum is reflected in the Relative Strength Index (RSI), which is now at 66.03 and rising upward, according to Sumeet Bagadia.

Founded in 1974, GRM Overseas Limited is a well-known FMCG company in India. With an emphasis on exporting to more than 38 nations, including the United Arab Emirates, Iraq, Australia, Israel, the United Kingdom, and the United States, GRM Overseas Limited is a domestic and global milling, processing, and marketing company that deals with branded and non-branded basmati rice. The firm sells a variety of rice varieties, such as Himalaya River Premium Basmati, Tanoush Emperor, and 7 Express 1121 Sella, under the brands 10X, 7 Express, Tanoush, Shakti, and Himalaya.