Incorporated in 1995, GRM Overseas Ltd is in the business of milling, processing and marketing of branded /nonbranded basmati rice in the domestic and overseas market[1]
Business Overview:[1]GRM Group comprises GRM Overseas Ltd and3 subsidiariesviz.GRM International Holding Ltd. (GIHL, UK), GRM Fine Foods Inc. (GFFI, USA) & GRM Foodkraft Pvt. Ltd. (GFPL, India).The group is engaged in milling, processing and distribution of basmati rice in domestic and overseas market. The domestic business is conducted through GRM Foodkraft Pvt Ltd under their flagship brand-name10Xoffering essential consumer goods, kitchen necessities, encompassing rice, spices, atta, and Ready-to-Eat products. The international operations are run through GRM International Holding Ltd. (GIHL, UK), GRM Fine Foods Inc. (GFFI, USA)
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | L T Foods | 370.90 | 20.25 | 12879.61 | 0.81 | 163.85 | 10.42 | 2765.74 | 31.22 | 19.18 | 9732.83 | 11.13 | 636.13 | 163.85 | 3.08 | 9.06 | 0.43 |
| 2. | KRBL | 357.75 | 13.43 | 8188.54 | 0.98 | 172.11 | 67.63 | 1511.08 | 18.94 | 11.84 | 6219.58 | 13.47 | 609.51 | 172.11 | 1.49 | 7.83 | 0.01 |
| 3. | Guj. Ambuja Exp | 140.19 | 31.16 | 6430.10 | 0.18 | 38.02 | -45.15 | 1486.69 | 32.19 | 11.46 | 5175.42 | 6.91 | 206.33 | 38.02 | 2.08 | 7.18 | 0.09 |
| 4. | Kaveri Seed Co. | 887.80 | 15.06 | 4566.76 | 0.56 | -16.20 | -2202.99 | 218.90 | 59.27 | 20.08 | 1341.73 | 24.55 | 303.15 | -15.43 | 2.54 | 11.11 | 0.00 |
| 5. | GRM Overseas | 171.05 | 59.47 | 3148.28 | 0.00 | 8.81 | 23.74 | 290.86 | 94.01 | 12.06 | 1034.12 | 6.69 | 52.94 | 8.81 | 7.29 | 6.38 | 0.49 |
| 6. | TruAlt Bioenergy | 366.55 | 24.68 | 3143.26 | 0.00 | -37.94 | -103.32 | 114.86 | -70.41 | 14.18 | 1907.72 | 16.21 | 146.64 | -37.94 | – | 5.38 | 1.10 |
| 7. | Sanstar | 95.08 | 86.34 | 1732.78 | 0.00 | 0.63 | -91.62 | 196.43 | -4.45 | 11.76 | 812.46 | 2.30 | 20.07 | 0.63 | 2.63 | 6.84 | 0.03 |
| – | Median: 37 Co. | 140.53 | 20.25 | 313.56 | 0.0 | 4.23 | 10.42 | 119.75 | 23.42 | 13.66 | 416.39 | 7.45 | 16.37 | 4.23 | 2.54 | 6.99 | 0.43 |
Standalone figures in ₹ crores
| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 313 | 258.97 | 330.83 | 359.38 | 297.32 | 165.60 | 357.47 | 365.44 | 275.90 | 149.92 | 244.51 | 242.82 | 255.93 | 290.86 |
Expenses | 284 | 240.74 | 310.28 | 341.56 | 275.54 | 158.04 | 342.10 | 350.99 | 255.29 | 141.82 | 234.91 | 215.90 | 235.71 | 278.38 |
Operating Profit | 29 | 18.23 | 20.55 | 17.82 | 21.78 | 7.56 | 15.37 | 14.45 | 20.61 | 8.10 | 9.60 | 26.92 | 20.22 | 12.48 |
Other Income | 1 | -0.46 | 8.05 | 3.70 | 5.54 | 6.61 | 8.59 | 11.48 | 5.16 | 4.72 | 10.98 | 4.46 | 7.68 | 5.25 |
Profit before tax | 24 | 13.85 | 22.32 | 14.40 | 20.96 | 9.25 | 17.97 | 19.18 | 21.53 | 9.62 | 16.12 | 22.62 | 21.70 | 11.89 |
Tax % | 26% | 24.55% | 26.52% | 38.61% | 25.19% | 26.81% | 26.21% | 18.20% | 25.27% | 25.99% | 25.87% | 29.93% | 24.79% | 25.90% |
Net Profit | 18 | 10.44 | 16.40 | 8.85 | 15.68 | 6.77 | 13.26 | 15.68 | 16.08 | 7.12 | 11.95 | 15.86 | 16.32 | 8.81 |
EPS in Rs | 2.98 | 0.58 | 0.91 | 0.49 | 0.87 | 0.38 | 0.74 | 0.87 | 0.89 | 0.40 | 0.66 | 0.88 | 0.89 | 0.48 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 422 | 568 | 355 | 591 | 924 | 1,068 | 739 | 748 | 1,098 | 1,262 | 1,186 | 912 | 1,034 |
Expenses | 406 | 544 | 341 | 571 | 889 | 1,026 | 687 | 690 | 1,013 | 1,177 | 1,127 | 846 | 965 |
Operating Profit | 16 | 24 | 14 | 20 | 35 | 42 | 52 | 59 | 85 | 86 | 59 | 65 | 69 |
Other Income | -0 | -0 | 0 | -0 | 0 | 1 | 13 | 5 | 37 | 12 | 32 | 25 | 28 |
Interest | 7 | 14 | 9 | 10 | 15 | 16 | 14 | 12 | 13 | 19 | 20 | 18 | 22 |
Depreciation | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 4 | 4 | 3 | 3 |
Profit before tax | 7 | 8 | 3 | 8 | 18 | 25 | 48 | 49 | 106 | 75 | 67 | 70 | 72 |
Net Profit | 5 | 5 | 2 | 6 | 12 | 16 | 36 | 37 | 79 | 54 | 51 | 51 | 53 |
EPS in Rs | 0.29 | 0.27 | 0.12 | 0.34 | 0.70 | 0.98 | 2.17 | 2.07 | 4.38 | 2.98 | 2.86 | 2.83 | 2.91 |
Dividend Payout % | 15% | 0% | 0% | 0% | 16% | 11% | 5% | 22% | 70% | 5% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 12 | 12 | 12 | 12 | 12 |
Reserves | 26 | 31 | 33 | 38 | 50 | 64 | 98 | 135 | 192 | 243 | 294 | 380 | 420 |
Borrowings | 143 | 155 | 132 | 198 | 292 | 348 | 210 | 188 | 331 | 407 | 393 | 364 | 211 |
Other Liabilities | 38 | 55 | 15 | 59 | 64 | 62 | 60 | 89 | 119 | 99 | 38 | 109 | 178 |
Total Liabilities | 211 | 244 | 183 | 299 | 410 | 478 | 372 | 416 | 655 | 761 | 737 | 865 | 821 |
Fixed Assets | 22 | 22 | 21 | 21 | 21 | 31 | 37 | 35 | 36 | 37 | 36 | 39 | 38 |
Gross Block | 30.90 | 33.38 | 34.22 | 35.91 | 37.50 | 49.53 | 59.07 | 58.69 | 61.71 | 65.97 | 68.05 | 72.08 | – |
Accumulated Depreciation | 9.11 | 11.12 | 13.07 | 14.69 | 16.72 | 18.81 | 21.72 | 23.63 | 25.43 | 28.76 | 32.28 | 33.03 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 0 | 2 | 2 | 12 | 12 |
Other Assets | 189 | 222 | 162 | 278 | 387 | 442 | 333 | 380 | 618 | 722 | 700 | 814 | 771 |
Total Assets | 211 | 244 | 183 | 299 | 410 | 478 | 372 | 416 | 655 | 761 | 737 | 865 | 821 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -26 | 1 | 46 | -67 | -77 | -23 | 161 | 34 | -113 | -52 | 36 | 56 |
Cash from Investing Activity | -5 | -3 | -1 | -2 | -3 | -15 | -6 | -1 | -4 | -6 | 0 | -16 |
Cash from Financing Activity | 36 | -3 | -32 | 56 | 78 | 38 | -155 | -33 | 119 | 56 | -33 | -12 |
Net Cash Flow | 5 | -5 | 13 | -13 | -1 | 1 | 0 | 0 | 2 | -2 | 3 | 28 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 47 | 83 | 85 | 46 | 74 | 93 | 135 | 134 | 134 | 116 | 144 | 186 |
Inventory Days | 124 | 68 | 77 | 146 | 90 | 63 | 33 | 56 | 79 | 108 | 76 | 154 |
Days Payable | 35 | 34 | 14 | 18 | 24 | 16 | 21 | 27 | 32 | 25 | 9 | 11 |
Cash Conversion Cycle | 137 | 117 | 148 | 174 | 140 | 140 | 147 | 164 | 182 | 198 | 210 | 329 |
Working Capital Days | 29 | 32 | 44 | 43 | 13 | 10 | 31 | 49 | 55 | 63 | 81 | 123 |
ROCE % | 10% | 12% | 7% | 9% | 11% | 10% | 17% | 19% | 28% | 16% | 12% | 12% |
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Stock Analysis
GRM Overseas Limited is an Indian company specializing in the milling, processing, and marketing of branded basmati rice and other FMCG products. It has a significant presence in both domestic and international markets, with a strategy focused on brand building and global expansion.
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