Promoters & FIIs Increased Stake: This Small Cap Company Bags Order Rs 60,00,00,000 from Bin Awadh Alnaqeeb Group in Yemen!
The company’s shares have delivered an impressive return of over 1300 per cent in the past 5 years.
GRM Overseas Ltd, one of the leading Indian basmati rice exporters and India’s leading food FMCG, has secured a new order worth Rs 60 crore from Bin Awadh Alnaqeeb Group in Yemen. According to the agreement, GRM Overseas will export Indian Basmati Rice to Bin Awadh Alnaqeeb Group, the largest importer of Basmati Rice from India. This Rs. 600 million order marks the company's largest order to date from the Yemen-based importer and distributor.
Commenting on the new order, Atul Garg, Chairman & MD of GRM Overseas, said, “The continuous flow of orders with increasing value from Bin Awadh Alnaqeeb General Trading Corp underscores the trust we have earned in the overseas market. The Middle East is a key market for us, and this order from Yemen will further strengthen our revenue from the region.
GRM Overseas Ltd is primarily engaged in the business of milling, processing, and marketing branded and non-branded basmati rice in both domestic and overseas markets.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Currently, GRM Overseas Ltd shares are trading at around Rs 198 per share. The company’s current market capitalization stands at Rs 1188 crore. The stock has delivered a return of around 50 per cent in just 1 month only.GRM Overseas Ltd
As per the Quarterly Results, in the fourth quarter of FY24, GRM Overseas Ltd recorded a revenue of Rs 406 crore. The operating profit for Q4 FY24 stood at Rs 22 crore. The net profit for Q4 FY24 was Rs 21 crore. Looking at the annual performance, the company generated a revenue of Rs 1312 crore in FY24, compared to Rs 1379 crore in FY23. The operating profit for FY24 was Rs 72 crore, with a net profit of Rs 61 crore.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.