GRM Overseas Unveils New 10X Packaging Featuring Salman Khan Amid Strong Market Performance

GRM Overseas Ltd, a prominent player in the FMCG sector, saw its shares rise by 2% on Tuesday, hitting an intraday high of Rs 275.25 from the previous close of Rs 269.85. The stock has delivered outstanding multibagger returns, with a 2,185% surge over the last five years and a remarkable 4,500% increase over the past decade. With a market capitalization exceeding Rs 1,600 crore, the stock remains a strong focus for investors.

In a strategic move aimed at boosting its market presence, GRM Overseas has launched new packaging for its 10X brand, featuring Bollywood superstar Salman Khan. The refreshed packaging will span across 10X's product range, which includes basmati rice, flour, and other offerings. This revamp aligns with GRM's mission to enhance brand visibility and appeal to a broader audience in India and key international markets.

The new 10X packaging combines sleek, modern design with a vibrant color scheme that highlights the brand's commitment to quality and authenticity. By featuring Salman Khan, GRM aims to leverage his widespread popularity to strengthen consumer trust and loyalty. The company is confident that this collaboration will elevate 10X's profile, making it a preferred choice for consumers seeking quality food products.

This packaging update is part of GRM's broader strategy to refresh the 10X brand and sharpen its competitive edge in the FMCG market. The partnership with Salman Khan is expected to resonate with diverse consumer demographics, further boosting GRM's market position.

In addition to the packaging relaunch, GRM Overseas recently expanded its portfolio with a significant acquisition. The company acquired a 44% stake in Swmabhan Commerce, the parent company of Rage Coffee, which is endorsed by cricketer Virat Kohli. This acquisition was made through a combination of primary infusion and secondary buyouts, marking GRM's entry into the fast-growing Indian coffee market.

The acquisition aligns with GRM's new growth strategy under its 10X Ventures platform, which aims to invest Rs 200 crore in digital-first, direct-to-consumer (D2C) brands. This move reinforces GRM's ambition to diversify and expand into new categories within the FMCG space.

GRM Overseas also reported strong financial results for the first quarter of FY2024-25. The company posted a net profit of Rs 18 crore, up from Rs 17.4 crore in the same period the previous year. Revenue from operations increased by 15%, reaching Rs 370 crore, compared to Rs 320 crore in the corresponding quarter of FY2023-24. Total expenses for the quarter rose to Rs 350.9 crore, from Rs 302.6 crore in the previous year, reflecting the company's expansion efforts.

GRM Overseas is a leading Indian company in the basmati rice industry, known for milling, processing, and marketing both branded and non-branded basmati rice for domestic and international markets. Their flagship brand, 10X, includes a wide range of products such as basmati rice, atta flour, and ready-to-cook biryani kits in regional styles like Moradabadi, Hyderabadi, and Lucknowi. With this strategic push, GRM continues to solidify its position as a key player in India's FMCG landscape.