6,800 per cent multibagger returns and Promoters & FIIs increase stake: Multibagger small-cap stock in green as the company reports an 87.67 per cent jump in PAT
The stock gave multibagger returns of 1,900 per cent in 5 years and a whopping 6,800 per cent over a decade.
Today, the shares of GRM Overseas Ltd jumped 5.30 per cent to Rs 245.30 per share from its previous closing of Rs 232.95. The stock’s 52-week high of Rs 246.15 while its 52-week low is Rs 114.15. The company has a market cap of Rs 1,430 crore.
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.
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Earlier, GRM Overseas, renowned for its basmati rice exports, forged a strategic partnership with Morocco's Solariz Invest to introduce its flagship brand 'Tanoush' to Moroccan consumers. This collaboration marks a pivotal step in GRM's global expansion strategy, leveraging Solariz Invest's extensive distribution network to offer 'Tanoush' in 1kg and 5kg packs. As the exclusive distributor for GRM Overseas in Morocco, Solariz Invest's strong local presence and expertise will be instrumental in boosting market penetration and enhancing brand visibility, aligning perfectly with GRM's vision of sustainable growth through strategic partnerships and market expansion.
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 1,900 per cent in 5 years and a whopping 6,800 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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