GRM Overseas Ltd

₹ 207 -0.62%

13 Dec - 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 ₹ 1,239 Cr.
Current Price ₹ 207
High / Low ₹ 289 / 113
Stock P/E 23.8
Book Value ₹ 60.6
Dividend Yield 0.00 %
ROCE 12.9 %
ROE 18.3 %
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 27.0%

Cons

Company might be capitalizing the interest cost
Earnings include an other income of Rs.30.0 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 Fast Moving Consumer Goods BSE Allcap BSE SmallCap

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	245.78	288.02	350.65	313.28	258.97	330.83	359.38	297.32	165.60	357.47	365.44	275.90	149.92
	216.79	266.86	342.32	284.29	240.74	310.28	341.56	275.54	158.04	342.10	350.99	255.29	141.82
Operating Profit	28.99	21.16	8.33	28.99	18.23	20.55	17.82	21.78	7.56	15.37	14.45	20.61	8.10
OPM %	11.80%	7.35%	2.38%	9.25%	7.04%	6.21%	4.96%	7.33%	4.57%	4.30%	3.95%	7.47%	5.40%
	5.64	15.74	14.65	0.55	-0.46	8.05	3.70	5.54	6.61	8.59	11.48	5.16	4.72
Interest	2.38	3.19	3.97	4.72	3.18	5.49	5.76	5.53	4.08	5.13	5.74	3.55	2.44
Depreciation	0.77	0.78	0.77	0.79	0.74	0.79	1.36	0.83	0.84	0.86	1.01	0.69	0.76
Profit before tax	31.48	32.93	18.24	24.03	13.85	22.32	14.40	20.96	9.25	17.97	19.18	21.53	9.62
Tax %	25.19%	25.42%	28.02%	25.68%	24.55%	26.52%	38.61%	25.19%	26.81%	26.21%	18.20%	25.27%	25.99%
	23.55	24.57	13.13	17.87	10.44	16.40	8.85	15.68	6.77	13.26	15.68	16.08	7.12
EPS in Rs	3.92	4.10	2.19	2.98	1.74	2.73	1.48	2.61	1.13	2.21	2.61	2.68	1.19
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	270	422	568	355	591	924	1,068	739	748	1,098	1,262	1,186	1,149
	258	406	544	341	571	889	1,026	687	690	1,013	1,177	1,127	1,090
Operating Profit	12	16	24	14	20	35	42	52	59	85	86	59	59
OPM %	4%	4%	4%	4%	3%	4%	4%	7%	8%	8%	7%	5%	5%
	0	-0	-0	0	-0	0	1	13	5	37	12	32	30
Interest	7	7	14	9	10	15	16	14	12	13	19	20	17
Depreciation	1	1	2	2	2	2	2	3	3	3	4	4	3
Profit before tax	4	7	8	3	8	18	25	48	49	106	75	67	68
Tax %	33%	33%	42%	34%	34%	35%	35%	24%	25%	26%	28%	24%
	3	5	5	2	6	12	16	36	37	79	54	51	52
EPS in Rs	0.50	0.88	0.83	0.37	1.01	2.12	2.94	6.55	6.20	13.14	8.93	8.56	8.69
Dividend Payout %	27%	15%	0%	0%	0%	16%	11%	5%	22%	70%	5%	0%

Compounded Sales Growth
10 Years:	11%
5 Years:	2%
3 Years:	17%
TTM:	0%

Compounded Profit Growth
10 Years:	27%
5 Years:	27%
3 Years:	12%
TTM:	9%

Stock Price CAGR
10 Years:	51%
5 Years:	78%
3 Years:	-26%
1 Year:	1%

Return on Equity
10 Years:	27%
5 Years:	29%
3 Years:	27%
Last Year:	18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	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	4	4	4	12	12	12	12
Reserves	22	26	31	33	38	50	64	98	135	192	243	294	352
	99	143	155	132	198	292	348	210	188	331	407	393	213
	11	38	55	15	59	64	62	60	89	119	99	38	44
Total Liabilities	136	211	244	183	299	410	478	372	416	655	761	737	621
	18	22	22	21	21	21	31	37	35	36	37	36	38
CWIP	0	0	0	0	0	0	3	0	0	0	0	0	0
Investments	0	0	0	0	0	1	1	1	2	0	2	2	12
	118	189	222	162	278	387	442	333	380	618	722	700	571
Total Assets	136	211	244	183	299	410	478	372	416	655	761	737	621

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-14	-26	1	46	-67	-77	-23	161	34	-113	-52	36
	-0	-5	-3	-1	-2	-3	-15	-6	-1	-4	-6	0
	13	36	-3	-32	56	78	38	-155	-33	119	56	-33
Net Cash Flow	-1	5	-5	13	-13	-1	1	0	0	2	-2	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	96	47	83	85	46	74	93	135	134	134	116	144
Inventory Days	69	124	68	77	146	90	63	33	56	79	108	76
Days Payable	12	35	34	14	18	24	16	21	27	32	25	9
Cash Conversion Cycle	153	137	117	148	174	140	140	147	164	182	198	210
Working Capital Days	143	123	107	137	135	128	129	135	141	165	180	202
ROCE %	10%	10%	12%	7%	9%	11%	10%	17%	19%	28%	16%	13%

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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