Shares of GRM Overseas have rallied 2,155% in the last three years. The small cap stock, which closed at Rs 8.27 on March 27, 2020 rose to a high of Rs 186.50 on the BSE today. An amount of Rs 1 lakh invested in the shares of GRM Overseas three years ago would have turned into Rs 22.55 lakh today. In comparison, Sensex has risen 93.44 per cent during the period.
However, the stock hit a fresh 52-week low of Rs 171.95 on BSE today. It has fallen 12% in the last four sessions. The stock opened marginally higher at Rs 175.35 today against the previous close of Rs 176.95 on BSE.
In terms of technicals, the relative strength index (RSI) of the stock stands at 16, signaling it’s strongly oversold. GRM Overseas shares are trading lower than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock has lost 69.55% in one year and fallen 59% since the beginning of this year. The share has lost 43% in a month. Total 0.22 lakh shares of the firm changed hands amounting to a turnover of Rs 38.23 lakh on BSE. Market cap of the firm stood at Rs 1044 crore on BSE. The stock hit a 52-week high of Rs 644 on April 1, 2022.
Three promoters held 72 per cent stake in the firm and 18,745 public shareholders owned 28 per cent for the quarter ended December 2022. Of these, 18,436 public shareholders held 9.53% stake with capital up to Rs 2 lakh. Only 17 shareholders with 7.24% stake held capital above Rs 2 lakh for the quarter ended December 2022.
Two foreign portfolio investors (FPIs) held 26 shares in Q3 of the current fiscal.
GRM Overseas has outperformed its peers in terms of stock market returns in the last three years. Shares of KRBL have risen 190% and stock of LT Foods has gained 447% in the last three years. Stock of another competitor Chamanlal Setia has risen 442% during the period.
The stellar rally in the stock of GRM Overseas partially reflects the financial performance of the firm in the last three years.
In the December quarter, the firm reported a 26.44% fall in net profit to Rs 19.61 crore against Rs 26.66 crore in the corresponding quarter of previous fiscal.
However, sales rose 20.25% to Rs 356.94 crore in the last quarter against Rs 296.83 crore in the December quarter of 2021. Operating profit rose 6.33% to Rs 24.71 crore for the quarter ended December against Rs 23.24 crore in the corresponding quarter of the previous fiscal.
On a quarter-on-quarter basis, the firm reported a 43.56% rise in net profit from Rs 13.66 crore in the September 2022 quarter. Sales climbed 31.89% from Rs 270.64 crore in Q2 of the current fiscal.
On an annual basis, net profit zoomed 86.09% to Rs 84.52 crore for the fiscal ended March 2022 against Rs 45.42 crore for the fiscal ended March 2021. For the fiscal ended 2020, net profit stood at Rs 31.70 crore. Sales climbed 41.90% to Rs 1134.27 crore in the last fiscal against Rs 799.37 crore for the fiscal ended March 2021. For the fiscal ended 2020, sales stood at Rs 777.15 crore.
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GRM Overseas is an India-based company engaged in the business of manufacturing and trading of rice. The company produces a range of rice items to its customers across the world. Its platter of varieties includes traditional basmati rice, super basmati rice, Indian 1121 super rice, Indian long grain rice, Sharbati rice and Sugandha rice.
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