GRM Overseas Ltd

₹ 142 0.14%

25 Apr 12:47 p.m.

About

GRM Overseas Ltd is primarily engaged in the business of milling, processing and marketing of branded and non-branded basmati rice in the domestic and overseas market.^[1]

Key Points

Product Portfolio
The product portfolio of the company includes a rice range of Zarda King Golden Sella, Biryani King, Premium Biryani Steam, Regular Range Steam, and a few more also it offers Shakti Chakki Frresh Atta and biryani kits like Moradbadi, Hyderabadi, Lucknowi, etc. in ready to cook range. ^[1] ^[2]

Website BSE NSE

Market Cap ₹ 855 Cr.
Current Price ₹ 142
High / Low ₹ 231 / 113
Stock P/E 19.2
Book Value ₹ 46.2
Dividend Yield 0.31 %
ROCE 15.7 %
ROE 23.4 %
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 32.5%
Company has been maintaining a healthy dividend payout of 32.3%

Cons

Company might be capitalizing the interest cost
Earnings include an other income of Rs.24.4 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	206	282	214	246	288	351	313	259	331	359	297	166	357
	192	270	188	217	267	342	284	241	310	342	276	158	342
Operating Profit	14	12	26	29	21	8	29	18	21	18	22	8	15
OPM %	7%	4%	12%	12%	7%	2%	9%	7%	6%	5%	7%	5%	4%
	0	5	1	6	16	15	1	-0	8	4	6	7	9
Interest	3	3	3	2	3	4	5	3	5	6	6	4	5
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	11	13	24	31	33	18	24	14	22	14	21	9	18
Tax %	26%	26%	25%	25%	25%	28%	26%	25%	27%	39%	25%	27%	26%
	8	10	18	24	25	13	18	10	16	9	16	7	13
EPS in Rs	1.48	1.66	2.93	3.92	4.10	2.19	2.98	1.74	2.73	1.48	2.61	1.13	2.21
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	237	270	422	568	355	591	924	1,068	739	748	1,098	1,262	1,180
	225	258	406	544	341	571	889	1,026	687	690	1,013	1,177	1,117
Operating Profit	12	12	16	24	14	20	35	42	52	59	85	86	63
OPM %	5%	4%	4%	4%	4%	3%	4%	4%	7%	8%	8%	7%	5%
	-0	0	-0	-0	0	-0	0	1	13	5	37	12	24
Interest	7	7	7	14	9	10	15	16	14	12	13	19	20
Depreciation	1	1	1	2	2	2	2	2	3	3	3	4	4
Profit before tax	4	4	7	8	3	8	18	25	48	49	106	75	63
Tax %	33%	33%	33%	42%	34%	34%	35%	35%	24%	25%	26%	28%
	2	3	5	5	2	6	12	16	36	37	79	54	45
EPS in Rs	0.43	0.50	0.88	0.83	0.37	1.01	2.12	2.94	6.55	6.20	13.14	8.93	7.43
Dividend Payout %	31%	27%	15%	0%	0%	0%	16%	11%	5%	22%	70%	5%

Compounded Sales Growth
10 Years:	17%
5 Years:	6%
3 Years:	20%
TTM:	-6%

Compounded Profit Growth
10 Years:	34%
5 Years:	36%
3 Years:	14%
TTM:	-23%

Stock Price CAGR
10 Years:	52%
5 Years:	57%
3 Years:	4%
1 Year:	-26%

Return on Equity
10 Years:	29%
5 Years:	33%
3 Years:	32%
Last Year:	23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	4	4	4	4	4	4	4	4	4	4	12	12	12
Reserves	20	22	26	31	33	38	50	64	98	135	192	243	265
	78	99	143	155	132	198	292	348	210	188	331	407	189
	11	11	38	55	15	59	64	62	60	90	119	99	69
Total Liabilities	113	136	211	244	183	299	410	478	372	416	655	761	536
	18	18	22	22	21	21	21	31	37	35	36	37	36
CWIP	0	0	0	0	0	0	0	3	0	0	0	0	1
Investments	0	0	0	0	0	0	1	1	1	2	0	2	2
	95	118	189	222	162	278	387	442	333	380	618	722	498
Total Assets	113	136	211	244	183	299	410	478	372	416	655	761	536

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	6	-14	-26	1	46	-67	-77	-23	161	34	-113	-52
	-1	-0	-5	-3	-1	-2	-3	-15	-6	-1	-4	-6
	-3	13	36	-3	-32	56	78	38	-155	-33	119	56
Net Cash Flow	2	-1	5	-5	13	-13	-1	1	0	0	2	-2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	59	96	47	83	85	46	74	93	135	134	134	116
Inventory Days	96	69	124	68	77	146	90	63	33	56	79	108
Days Payable	16	12	35	34	14	18	24	16	21	27	32	25
Cash Conversion Cycle	139	153	137	117	148	174	140	140	147	164	182	198
Working Capital Days	125	143	123	107	137	135	128	129	135	141	165	180
ROCE %	11%	10%	10%	12%	7%	9%	11%	10%	17%	19%	28%	16%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	70.84%	72.00%	72.00%	72.00%	72.00%	72.00%	72.00%	71.72%	71.72%	71.72%	71.72%	72.16%
	0.00%	0.16%	0.04%	0.12%	0.00%	0.00%	0.00%	0.07%	0.00%	0.00%	0.08%	0.26%
	3.06%	0.00%	0.00%	0.00%	0.00%	0.06%	0.16%	0.00%	0.00%	0.02%	0.00%	0.00%
	2.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	23.89%	27.84%	27.96%	27.88%	28.00%	27.93%	27.83%	28.21%	28.28%	28.27%	28.20%	27.58%
No. of Shareholders	3,912	7,074	12,796	18,249	18,875	18,983	18,748	19,395	21,031	26,016	25,302	25,248

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

* 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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