GRMOVER
GRM Overseas share price & financials
- Price
- ₹93.31
- Market cap
- ₹1.8k Cr
- Sector
- Fast Moving Consumer Goods
What GRM Overseas Limited does
GRM Overseas processes and mills basmati and non-basmati rice, exporting largely under private-label arrangements to global retail chains while building its own domestic FMCG brand '10X' (rice, atta, edible oil, besan) through general and modern trade. It also runs an international arm selling own brands 'Himalaya River' and 'Tanoush' through a UK subsidiary, and has diversified into adjacent categories via minority stakes such as D2C coffee brand Rage Coffee under its 10X Ventures platform. Revenue is split between an India business (packaged consumer staples under 10X) and an International business (rice exports, ~95% private label and ~5% own brands).
Segments
- India Business
- International Business
- Annual rice production capacity
- 440,800 MT
- Rice milling plants
- 3 (550 MT/day) at Panipat and Naultha, Haryana
- Sortex (grading) plants
- 9 (1,400 MT/day)
- Manufacturing locations
- Panipat and Naultha (Haryana), Gandhidham (Gujarat)
- Countries with export presence
- 55+
- General-trade distributors (India)
- 176
Quarterly results
Q1 FY27: revenue up 30.6%, net profit up 10.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 315 | 371 | 291 | 327 | 362 +15% | 483 +30% | 597 +105% | 427 +31% |
| EBITDA | 11 | 12 | 33 | 24 | 15 +36% | 21 +75% | 30 −9% | 36 +50% |
| Net profit | 9 | 14 | 20 | 19 | 15 +67% | 19 +36% | 22 +10% | 21 +11% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −76.6% 1Y
1Y: ₹360.4 on 10 Sept 2025 → ₹84.45. High ₹494.35 (19 Nov 2025), low ₹84.45 (11 Sept 2026).
Financials, as filed
Revenue grew 8.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 5.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.4k Cr | ₹1.3k Cr | ₹1.3k Cr | ₹1.8k Cr |
| Operating profit | ₹98 Cr | ₹72 Cr | ₹79 Cr | ₹90 Cr |
| Operating margin | 7.1% | 5.5% | 5.9% | 5.1% |
| Interest | ₹20 Cr | ₹21 Cr | ₹18 Cr | ₹22 Cr |
| Depreciation | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr |
| Net profit | ₹63 Cr | ₹60 Cr | ₹61 Cr | ₹75 Cr |
| Net margin | 4.6% | 4.6% | 4.5% | 4.2% |
| Cash from operations | ₹-89 Cr | ₹47 Cr | ₹62 Cr | ₹-54 Cr |
| Free cash flow | ₹-94 Cr | ₹45 Cr | ₹56 Cr | ₹-63 Cr |
| ROCE | 17.0% | 14.0% | 14.0% | 14.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹4 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹41 Cr |
| Reserves | ₹131 Cr | ₹194 Cr | ₹262 Cr | ₹319 Cr | ₹463 Cr | ₹560 Cr |
| Borrowings | ₹188 Cr | ₹338 Cr | ₹413 Cr | ₹393 Cr | ₹211 Cr | ₹368 Cr |
| Other liabilities | ₹92 Cr | ₹123 Cr | ₹97 Cr | ₹46 Cr | ₹178 Cr | ₹191 Cr |
| Total liabilities | ₹415 Cr | ₹667 Cr | ₹784 Cr | ₹770 Cr | ₹865 Cr | ₹1.2k Cr |
| Fixed assets | ₹36 Cr | ₹37 Cr | ₹39 Cr | ₹37 Cr | ₹39 Cr | ₹41 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹2 Cr | ₹12 Cr | ₹9 Cr | ₹11 Cr | ₹9 Cr |
| Other assets | ₹379 Cr | ₹628 Cr | ₹733 Cr | ₹725 Cr | ₹814 Cr | ₹1.1k Cr |
| Total assets | ₹415 Cr | ₹667 Cr | ₹784 Cr | ₹770 Cr | ₹865 Cr | ₹1.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −7.78 pp while FIIs added +5.39 pp. The shareholder count grew 22% to 29,061.
- Promoters
- 63.1%
- FIIs
- 7.3%
- DIIs
- 2.9%
- Public
- 26.8%
Since Jun 2025
- Promoters −7.78 pp
- FIIs +5.39 pp
- DIIs +2.42 pp
How it drifted, 12 quarters
Over this window promoters fell from 71.7% to 63.1% — −8.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 71.7%, DIIs 0.0%, Public 28.3%.Dec '23: Promoters 71.7%, FIIs 0.1%, Public 28.2%.Mar '24: Promoters 72.2%, FIIs 0.3%, Public 27.6%.Jun '24: Promoters 72.3%, FIIs 0.7%, Public 27.1%.Sep '24: Promoters 72.3%, FIIs 0.2%, DIIs 0.3%, Public 27.2%.Dec '24: Promoters 72.3%, FIIs 0.2%, DIIs 0.3%, Public 27.3%.Mar '25: Promoters 72.4%, FIIs 0.7%, DIIs 0.3%, Public 26.6%.Jun '25: Promoters 70.8%, FIIs 1.9%, DIIs 0.5%, Public 26.8%.Sep '25: Promoters 68.2%, FIIs 3.4%, DIIs 1.8%, Public 26.6%.Dec '25: Promoters 68.3%, FIIs 4.9%, DIIs 1.6%, Public 25.2%.Mar '26: Promoters 62.5%, FIIs 9.5%, DIIs 2.9%, Public 25.1%.Jun '26: Promoters 63.1%, FIIs 7.3%, DIIs 2.9%, Public 26.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Ravi Goyal Huf newly disclosed 2.08% held
- Atul Garg +0.40 pp 20.91% held
- Mamta Garg +0.15 pp 20.27% held
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of GRM Overseas Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Hukam Chand Garg | 21.88% | unchanged |
| Atul Garg | 20.91% | +0.40 pp |
| Mamta Garg | 20.27% | +0.15 pp |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 3.84% | unchanged |
| Singularity Equity Fund I AIF | 2.91% | unchanged |
| Forbes EMF FPI fund | 2.90% | unchanged |
| Coeus Global Opportunities Fund FPI fund | 2.90% | unchanged |
| Ravi Goyal Huf | 2.08% | newly disclosed |
| Atul Kumar Garg Huf | 0.00% | unchanged |
| Eros Agro & Farms Private Limited | 0.00% | unchanged |
| Rock-IT Superfoods Private Limited | 0.00% | unchanged |
| Usg Buildtech Llp | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
ExpensiveTo justify its price of ₹84, this stock must grow earnings at 18% every year for 7 years. Our analysis caps realistic growth at ~6%. At that growth it is worth ₹44 — downside of 48%.
- Growth the price implies
- 18.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 6.0% a year
- net profit, FY23–FY26
- The gap
- 0.1 pp
- -48% downside if it only repeats history
Learn to analyse GRM Overseas Limited
Guides on how to read this kind of business and the numbers that matter.