6,000 Per Cent Multibagger Returns: Basmati Rice & Wheat Flour Company Announces The Official Launch Of Its New Strategic Platform, 10X Ventures
The stock gave multibagger returns of 2,185 per cent in 5 years and a whopping 6,000 per cent over a decade.
Today, the shares of GRM Overseas Ltd jumped 5.11 per cent to an intraday high of Rs 276.25 per share from its previous closing of Rs 262.80. The stock’s 52-week high is Rs 286.15 while its 52-week low is Rs 114.15. The company has a market cap of Rs 1,600 crore.
GRM Overseas Limited, a prominent name in India's FMCG sector, proudly announces the official launch of its new strategic platform, 10X Ventures. This innovative platform is poised to drive growth by investing in Digital-First New Age D2C brands, Lifestyle brands, smaller portfolio brands, and incubator opportunities. 10X Ventures will capitalize on GRM's expansive infrastructure and entrepreneurial spirit to bolster net sales and margin growth.
Key Objectives of 10X Ventures:
- Brand Refresh and Relaunch: 10X Ventures aims to breathe new life into smaller, less popular brands owned by GRM. They'll make these brands more appealing to customers.
- Incubation of Small Acquisitions: They'll support smaller companies that GRM has bought. These companies will receive guidance and resources to become bigger and stronger.
- Investment in Lifestyle Brands and Wellness Concepts: 10X Ventures will look for businesses that focus on healthy living and well-being. This includes products and services related to health and wellness.
- Targeting the Next Generation of Consumers: They'll target younger people (Millennials and Gen Z) with products and marketing that they'll like. These customers are interested in health, sustainability and digital experiences.
- Collaboration with Passionate Entrepreneurs: 10X Ventures will partner with people who have innovative ideas for food-related businesses. They'll help these entrepreneurs turn their ideas into successful businesses
- Investment Plans: In its first phase, 10X Ventures will invest Rs 200 crore (a large amount of money) in these businesses. They'll buy a part of these companies or exchange shares.
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Earlier, the company announced the signing of Bollywood superstar Salman Khan as its brand ambassador for Basmati Rice and Wheat Flour. Salman Khan's immense popularity and relatability perfectly aligned with GRM's target market. Salman Khan was more than just a beloved actor; he was a cultural icon with a massive fan base spanning across India and beyond. His unparalleled popularity, coupled with his down-to-earth persona, made him an ideal ambassador for GRM. His influence extended beyond the silver screen, resonating with audiences of all ages and demographics, from urban centers to rural heartlands in India and in key export markets like the Middle East. Salman Khan's personality as a fighter and challenger mirrored the very essence of GRM's brand. Just as Salman on the screen faced and overcame numerous challenges, GRM embodied resilience, strength, and the pursuit of excellence. By partnering with Salman Khan, GRM aimed to leverage his iconic status to further strengthen its brand presence and connect with millions of consumers globally. His association with GRM underscored
About the Company
GRM Overseas Ltd, a leading Indian company in the basmati rice industry, mills, processes, and markets both branded (like their 10X brand) and non-branded basmati rice for both domestic consumption and international export. Their product range goes beyond just basmati rice, also including atta flour (Shakti Chakki Fresh) and ready-to-cook biryani kits in various regional styles like Moradabadi, Hyderabadi and Lucknowi.
According to Quarterly Results, the company reported net sales of Rs 405.93 crore in Q1FY25 compared to net sales of Rs 433.63 crore in Q1FY24. The net sales increased by 87.67 per cent to Rs 21.17 crore in Q1FY25 compared to Q1FY24. In its annual results, the company reported net sales of Rs 1,312.44 crore and net profit of Rs 60.72 crore in FY24.
As of June 2024, the company's promoters bought 73,000 shares and increased their stake to 72.29 per cent and FIIs increased their stake to 0.67 per cent compared to 72.16 per cent and 0.26 per cent, respectively in March 2024. The shares of the company have an ROE of 21 per cent and an ROCE of 15 per cent. The stock gave multibagger returns of 2,185 per cent in 5 years and a whopping 6,000 per cent over a decade. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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