5,500 Per Cent Multibagger Returns: Basmati Rice & Wheat Flour Company Expands Its Global Presence Through Partnership with Supermercados Central Ltda in Chile
On Friday, GRM Overseas Ltd shares dropped 0.60% to ₹223.40 from ₹224.75. The stock’s 52-week high is ₹288.60, with a low of ₹114.15, and a market cap of ₹1,360 crore. GRM announced a strategic partnership with Supermercados Central Ltda in Chile to introduce its basmati rice brand ‘Tanoush.’ The collaboration aims to expand GRM’s global presence.
On Friday, the shares of GRM Overseas Ltd plunged 0.60 per cent to Rs 223.40 per share from its previous closing of Rs 224.75. The stock’s 52-week high is Rs 288.60 while its 52-week low is Rs 114.15. The company has a market cap of Rs 1,360 crore.
GRM Overseas, a renowned Indian exporter of basmati rice and a key player in the FMCG sector, announces a strategic partnership with Supermercados Central Ltda in Chile. This collaboration represents a pivotal moment in GRM’s global expansion efforts, as it introduces its flagship basmati rice brand ‘Tanoush’ to Chilean consumers via Supermercados Central Ltda’s wide-reaching distribution network. ‘Tanoush’ will be offered in 1kg and 5kg Packs.
According to the agreement, Supermercados Central Ltda will act as the exclusive distributor of GRM Overseas products in Chile. With a robust presence and proven capabilities in the region, Supermercados Central Ltda is well-equipped to boost GRM’s market penetration and enhance its brand visibility. The collaboration with Supermercados Central Ltda in Chile exemplifies GRM’s strategic vision to expand into new markets, enhance brand visibility, and foster sustainable growth through impactful partnerships.
Mr. Atul Garg, Chairman & MD of GRM Overseas, commented, “Our partnership with Supermercados Central Ltda is a strategic move to bolster our global footprint. Leveraging Supermercados Central Ltda’s robust distribution network and local expertise, we aim to deepen our penetration in Chile. This collaboration underscores our commitment to expanding our international presence and delivering premium quality products to consumers.”
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 370.08 crore in Q1FY25 compared to net sales of Rs 320.36 crore in Q1FY24. The net profit increased by 3.35 per cent to Rs 18.02 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.
The shares of the company have an ROE of 19 per cent and an ROCE of 13 per cent. The stock gave multibagger returns of 1,640 per cent in 5 years and a whopping 5,500 per cent over a decade. Investors should keep an eye on this small-cap stock.
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