6,000 Per Cent Multibagger Returns and Promoters & FIIs Increase Stake: Basmati Rice & Wheat Flour Company Welcomes Salman Khan as Brand Ambassador
The stock gave multibagger returns of 2,250 per cent in 5 years and a whopping 6,000 per cent over a decade.
Today, the shares of GRM Overseas Ltd jumped 6.80 per cent to an intraday high of Rs 274.90 per share from its previous closing of Rs 257.45. 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, a leading exporter of Basmati rice and a key player in India's FMCG sector is delighted to announce the signing of Bollywood superstar Salman Khan as its brand ambassador for Its Basmati Rice and Wheat Flour. Salman Khan's immense popularity and relatability perfectly align with GRM's target market.
Salman Khan is more than just a beloved actor; he is a cultural icon with a massive fan base spanning across India and beyond. His unparalleled popularity, coupled with his down-to-earth persona, makes him an ideal ambassador for GRM. His influence extends 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 mirrors the very essence of GRM's brand. Just as Salman on the screen faces and overcomes numerous challenges, GRM embodies resilience, strength, and the pursuit of excellence. By partnering with Salman Khan, GRM aims to leverage his iconic status to further strengthen its brand presence and connect with millions of consumers globally. His association with GRM underscores the brand's commitment to quality and excellence, making him the perfect face to represent their mission of delivering the finest products to households everywhere.
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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 2,250 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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