GRM Overseas Ltd

₹ 203 2.43%

22 Nov - close price

About

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]

Key Points

Business Overview:^[1]
GRM Group comprises GRM Overseas Ltd and 3 subsidiaries viz. 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-name 10X offering 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)

Website BSE NSE

Market Cap ₹ 1,215 Cr.
Current Price ₹ 203
High / Low ₹ 289 / 113
Stock P/E 19.0
Book Value ₹ 65.1
Dividend Yield 0.00 %
ROCE 14.3 %
ROE 19.8 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company has a good return on equity (ROE) track record: 3 Years ROE 29.0%

Cons

Company might be capitalizing the interest cost
Earnings include an other income of Rs.30.2 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

Part of BSE Allcap BSE Fast Moving Consumer Goods BSE SmallCap

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	253.00	296.83	362.07	318.25	270.64	356.94	433.63	320.36	203.67	382.48	405.93	370.08	315.49
	221.61	273.61	351.41	287.87	248.33	332.23	412.78	296.19	195.77	364.18	384.11	346.63	304.32
Operating Profit	31.39	23.22	10.66	30.38	22.31	24.71	20.85	24.17	7.90	18.30	21.82	23.45	11.17
OPM %	12.41%	7.82%	2.94%	9.55%	8.24%	6.92%	4.81%	7.54%	3.88%	4.78%	5.38%	6.34%	3.54%
	4.96	16.40	14.78	0.56	-0.47	8.19	4.48	5.54	6.71	8.60	11.68	5.18	4.73
Interest	2.38	3.19	4.23	4.91	3.33	5.61	5.98	5.58	4.08	5.18	5.76	3.55	2.45
Depreciation	0.78	0.79	0.85	0.81	0.77	0.82	1.38	0.86	0.87	0.89	1.05	0.73	0.80
Profit before tax	33.19	35.64	20.36	25.22	17.74	26.47	17.97	23.27	9.66	20.83	26.69	24.35	12.65
Tax %	26.30%	25.20%	25.83%	27.36%	23.00%	25.92%	37.23%	25.05%	31.47%	25.64%	20.76%	25.95%	27.43%
	24.47	26.66	15.09	18.31	13.66	19.61	11.28	17.44	6.62	15.49	21.17	18.02	9.19
EPS in Rs	4.08	4.44	2.52	3.05	2.28	3.27	1.88	2.91	1.10	2.58	3.53	3.00	1.53
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	355	591	943	1,107	749	770	1,134	1,379	1,312	1,474
	341	571	908	1,072	702	702	1,041	1,281	1,240	1,399
Operating Profit	14	20	35	35	48	67	93	98	72	75
OPM %	4%	3%	4%	3%	6%	9%	8%	7%	6%	5%
	0	-0	0	1	13	6	37	13	33	30
Interest	9	10	15	16	14	12	13	20	21	17
Depreciation	2	2	2	2	3	3	3	4	4	3
Profit before tax	3	8	18	18	43	59	114	87	80	85
Tax %	34%	34%	35%	49%	26%	23%	26%	28%	25%
	2	6	12	9	32	45	85	63	61	64
EPS in Rs	0.37	1.01	2.15	1.64	5.74	7.65	13.97	10.45	9.96	10.64
Dividend Payout %	0%	0%	0%	20%	6%	17%	66%	4%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	3%
3 Years:	19%
TTM:	12%

Compounded Profit Growth
10 Years:	%
5 Years:	47%
3 Years:	10%
TTM:	16%

Stock Price CAGR
10 Years:	48%
5 Years:	74%
3 Years:	-16%
1 Year:	7%

Return on Equity
10 Years:	%
5 Years:	32%
3 Years:	29%
Last Year:	20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	4	4	4	4	4	4	12	12	12	12
Reserves	33	38	50	57	86	130	194	262	319	379
	132	198	292	348	210	188	338	413	393	213
	15	60	100	83	59	93	123	97	46	53
Total Liabilities	183	300	446	492	359	415	667	784	770	656
	21	21	21	31	38	36	37	39	37	39
CWIP	0	0	0	3	0	0	0	0	0	0
Investments	0	0	0	0	0	0	2	12	9	11
	162	279	425	459	321	379	628	733	725	607
Total Assets	183	300	446	492	359	415	667	784	770	656

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	46	-67	-77	-21	162	35	-116	-89	47
	-1	-2	-2	-15	-7	-1	-6	-5	-4
	-32	56	78	38	-155	-33	125	89	-39
Net Cash Flow	13	-13	-1	2	0	1	3	-4	3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	85	46	74	92	125	120	130	107	134
Inventory Days	77	147	103	64	33	67	80	101	71
Days Payable	14	18	39	23	20	28	32	24	10
Cash Conversion Cycle	148	174	138	132	139	159	177	183	195
Working Capital Days	137	135	126	122	126	134	161	168	187
ROCE %		9%	11%	9%	16%	23%	29%	17%	14%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	72.00%	72.00%	72.00%	72.00%	72.00%	71.72%	71.72%	71.72%	71.72%	72.16%	72.29%	72.29%
	0.04%	0.12%	0.00%	0.00%	0.00%	0.07%	0.00%	0.00%	0.08%	0.26%	0.67%	0.23%
	0.00%	0.00%	0.00%	0.06%	0.16%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.25%
	27.96%	27.88%	28.00%	27.93%	27.83%	28.21%	28.28%	28.27%	28.20%	27.58%	27.05%	27.23%
No. of Shareholders	12,796	18,249	18,875	18,983	18,748	19,395	21,031	26,016	25,302	25,248	25,571	34,199

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	73.62%	73.62%	73.62%	73.62%	71.61%	72.00%	71.72%	72.16%	72.29%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%	0.07%	0.26%	0.23%
	5.48%	3.36%	3.36%	3.36%	3.15%	0.00%	0.00%	0.00%	0.25%
	3.18%	2.09%	2.45%	2.40%	2.25%	0.00%	0.00%	0.00%	0.00%
	17.72%	20.93%	20.57%	20.62%	23.00%	27.88%	28.21%	27.58%	27.23%
No. of Shareholders	570	798	771	748	1,713	18,249	19,395	25,248	34,199

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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