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GRM Overseas Results: Latest Quarterly Results & Analysis

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GRM Overseas Ltd. 13 Aug 2025 12:15 PM
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Q1FY26 Quarterly Result Announced for GRM Overseas Ltd.

Agricultural Products company GRM Overseas announced Q1FY26 results

  • Total Revenue at Rs 334.4 crore in Q1FY26.
  • EBITDA for Q1FY26 was at Rs 31.6 crore, up by 10.4% YoY from Rs 28.6 crore in Q1FY25.
  • EBITDA Margin stood at 9.5% in Q1FY26, expanded by 182 bps.
  • PAT at Rs 19.1 crore, with a margin of 5.7% in Q1FY26 vs 4.8% in Q1FY25.

Atul Garg, Managing Director, said: “We have reported a positive performance in terms of margins and profitability, despite facing some short-term hiccups in the topline with respect to global geopolitical issues. We remain focused on expanding our product portfolio, supported by strengthening our brand visibility and deepening our distribution network.

On the international front, GRM has continued to maintain its strong position in the Basmati Rice export market, with a solid base in the MENA region. We are also on the verge of setting up a subsidiary in Dubai to drive our export business. During the quarter, we started supplying branded rice to twelve countries, which has gained popularity due to the mass appeal of Salman Khan, our brand ambassador. Further, we are actively engaging with new distribution partners and modern-trade retailers to unlock fresh opportunities across geographies and also expanding footprints in the major markets like Europe, Africa and other new territories.

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Agricultural Products company GRM Overseas announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total Revenue at Rs 296.5 crore in Q4FY25
  • EBITDA for Q4FY25 was at Rs 37.8 crore, up by 12.7% YoY from Rs 33.5 crore in Q4FY24. EBITDA Margin stood at 12.7% in Q4FY25
  • PAT at Rs 20.5 crore, with a margin of 6.9% in Q4FY25

FY25 Financial Highlights:

  • Total Revenue at Rs 1,374.2 crore, grew by 2.2% YoY, from Rs 1,345.0 crore in FY24
  • EBITDA stood at Rs 105.6 crore with a margin of 7.7% in FY25, as against Rs 104.7 crore with a margin of 7.8% in FY24
  • PAT was reported at Rs 61.2 crore as compared to Rs 60.7 crore in FY24

Speaking about the performance and recent updates, Atul Garg, Managing Director, said: “FY25 has been a year of consolidation for GRM, as we intensified our focus on the domestic FMCG business. This strategic shift has been well supported by strong marketing initiatives, including the signing of Bollywood superstar Salman Khan as the brand ambassador. Consequently, the company’s overall performance has remained consistent with the previous year, while the India business has witnessed strong growth.

The revenue from India business more than doubled to Rs 539 crore during the year, driven by robust performance in product categories like Edible Oil, Atta, and Rice including 10X Zarda King. We foresee a significant improvement in the business going forward supported by consistent introduction of product ranges and penetration into newer Tier-2 and Tier-3 markets. This will be further bolstered by 10X Ventures, where we aim to invest Rs 200 crore in digital-first new-age D2C brands.

In the International business, we are actively eyeing to expand into new geographies through partnerships with major regional distributors and prominent modern-trade retailers. Currently, GRM is among the Top 5 exporters of Basmati Rice globally, with the International business contributing 59% to FY25 Revenue. The company has established a major presence in the MENA region, and a growing presence in USA and UK markets.

In conclusion, we are actively engaged in redefining our identity and transforming our business model. We have implemented a series of strategic initiatives to ensure that we are positioned correctly to emerge as a leading player in the Indian FMCG industry.”

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Agricultural Products company GRM Overseas announced Q3FY25 results

  • Total Revenue at Rs 382.2 crore as compared to Rs 320.2 crore in Q2FY25, up by 19.4% QoQ
  • EBITDA at Rs 23.3 crore with a margin of 6.1% in Q3FY25, against 5.0% margin in Q2FY25
  • PAT stood at Rs 13.5 crore, a QoQ growth of 47.3% from Rs 9.2 crore in Q2FY25

Atul Garg, Managing Director, said: “During Q3FY25, the company reported a total revenue of Rs 382 crore, registering a growth of 19% QoQ with EBITDA margin improving by 114 bps QoQ to 6.1%. Our exports business is progressing well, and as per our growth strategy, we are looking to enter newer geographies through partnerships with distributors and penetration of our own brand “Tanoush”

Under GRM Foodkraft’s flagship brand 10X, we offer a wide range of staples like basmati rice, atta, and oil, which have been widely accepted in Tier II and Tier III cities. The Foodkraft business has grown remarkably by 1.7x to Rs 459 crore in 9MFY25. The company will be adding range of products under its modern brand, Faashta, focussing on ready-to-cook and ready-to-eat offerings such as biryani kits, noodles, dosa & idli mix and poha.

Post the successful fundraising in August 2024, with prominent investors coming on board, the company is poised for growth through acquisitions and strengthening the professional leadership team. The strategic investment in Rage Coffee aligns perfectly with our vision to drive growth in digital-first, health focused, and lifestyle brands.

With the onboarding of Barun Prabhakar as the Group Chief Marketing Officer, the company is optimistic to achieve the target of high single digit market share in the food FMCG industry in India.

The company is taking all the right initiatives and steps towards becoming a prominent player in the Indian FMCG industry.”

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Agricultural Products company GRM Overseas announced Q1FY24 results:

  • Total Revenue grew marginally to Rs 325.9 crore from Rs 318.8 crore in Q1FY23
    • GRM’s Foodkraft revenue grew by 8% YoY to Rs 41.1 crore
    • Export business stood at Rs 268.7 crore
  • EBITDA at Rs 29.7 crore as against Rs 30.9 crore in Q1FY23 and Rs 25.3 crore in Q4FY23
    • EBITDA Margin up by 333 bps on QoQ level, to 9.1% in Q1FY24, from 5.8% in Q4FY23, indicating a return to normalcy
  • PAT stood at Rs 17.4 crore with a PAT Margin of 5.4%

Speaking about the performance and recent updates, Atul Garg, Managing Director, said, “We have reported a decent quarterbacked by high single-digit revenue growth in the branded domestic business (GRM Foodkraft), while our export business remained steady. Our EBITDA has recovered significantly on a sequential basis and is expected to improve further.

We have been witnessing stimulated demand and improved liquidity of our stock of basmati rice after the Govt. banned the export of non-basmati rice. The shift in demand from non-basmati to basmati rice in export would lead to higher exports.

While we anticipate strong revenue growth in exports, our domestic branded business is making consistent strides, as demand in Tier-II and Tier-III towns is moving towards the branded segments. We are strategically positioning our products to capture both conventional customers and contemporary customers who prefer buying products online. We have an unwavering belief in our ability to position ourselves as the preeminent and reliable standalone consumer staples brand in the country. This conviction is underpinned by the growing acceptance and demand of our 10X brand in the domestic market.”

 

 

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Other agricultural products firm GRM Overseas announced Q3FY23 results:

  • Consolidated Q3FY23:
    • Total revenue grew by 16.6% YoY, to Rs 365.1 crore as compared to Rs 313.2 crore in Q3FY22.
      • GRM’s Foodkraft revenue grew by 55.3% YoY to Rs 121.1 crore.
      • Export business up by 10.9% and stood at Rs 233.7 crore.
    • EBITDA at Rs 32.9 crore as against Rs 39.6 crore in Q3FY22.
      • EBITDA Margin stood at 9.0% in Q3FY23 as against 12.7% in Q3FY22.
    • PAT stood at Rs 19.6 crore.
  • Consolidated 9MFY23:
    • Total revenue increased by 20.1% YoY to Rs 954.1 crore as against Rs 794.5 crore in 9MFY22.
      • GRM’s Foodkraft revenue surged by 51.6% YoY to Rs 200.6 crore in 9MFY23, as compared to Rs 132.3 crore in 9MFY22.
      • Export increased by 14.5% YoY to Rs 710.5 crore during 9MFY23 as against Rs 620.6 crore in 9MFY22.
    • EBITDA at Rs 85.7 crore as against Rs 104.3 crore in 9MFY22.
      • EBITDA Margin stood at 9.0% in 9MFY23 as against 13.1% in 9MFY22.
    • PAT during the period was at Rs 51.6 crore.

Speaking about the performance and recent updates, Mr. Atul Garg, Managing Director, said: “We have delivered a strong revenue growth this quarter, backed by our meticulous efforts to increase our presence in the domestic branded business and our solid presence in the exports business. The domestic business is growing at a stronger pace ever since the introduction of the 10x brand, which is gaining good momentum. Although our margins were under pressure on a YoY basis, we have been able to contain our margins sequentially.

We have also forayed into Agrotech space and have signed agreement with Harvesting India Private Limited (HFN). This agreement will ensure that we further expand our supply chain and product portfolio, meanwhile enabling us to magnify the reach of our 10x brand as those products will be sold on HFN’s online and offline platforms, in addition to the current major channels. This is surely a progressive step in our journey to become one of the largest and most trusted consumer staples brands in India.

Going forward, our anticipation is that we will grow better, which will be driven by the deeper penetration and improved performance of the domestic business and supported by our robust and steady export growth. Softening of commodity prices will also enable us to improve our margins, going forward.”

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Agriculture products firm GRM Overseas announced Q2FY23 results:

  • Consolidated Q2FY23:
    • Total revenue at Rs 270.2 crore as compared to Rs 258 crore in Q2FY22, a growth of 4.7% YoY
      • GRM’s Foodkraft revenue increased by 10.6% YoY to Rs 41.4 crore in Q2FY23
      • Export business stood at Rs 211.7 crore as compared to Rs 210.5 Crores in Q2FY22
    • EBITDA at Rs 21.8 crore as against Rs 36.4 crore in Q2FY22
      • EBITDA margins stood at 8.1% in Q2FY23 as against 14.1% in Q2FY22. The margins were impacted largely due to higher raw material prices
    • PAT was at Rs 13.7 crore as compared to Rs 24.5 crore in Q2FY22
  • Consolidated H1FY23:
    • Total revenue grew substantially by 22.4% YoY to Rs 589 crore as compared to Rs 481.3 crore in H1FY22
      • GRM’s Foodkraft revenue increased by 46.4% YoY to Rs 79.5 crore in H1FY23, as compared to Rs 54.3 crore in H1FY22
      • Export business up by 16.3% YoY to Rs 476.8 crore during H1FY23 as against Rs 410 crore in H1FY22
    • EBITDA at Rs 52.8 crore as against Rs 64.7 crore in H1FY22
      • EBITDA margins stood at 9.0% in H1FY23 as against 13.4% in H1FY22
    • PAT during the period was at Rs 32.0 crore as compared to Rs 42.8 crore in H1FY22

Atul Garg, Managing Director, said: “We are happy to report that the company saw robust business growth in the first half of the current financial year. With the new procurement season just getting underway, we expect the H2FY23 performance to be better as compared to H1FY23. We have recently introduced 10X Zarda King Rice to our domestic branded portfolio. This along with our existing D2C portfolio of consumer staples like the Ready to Cook Biryani kit, Ready to Eat Biryani, packaged wheat flour (Atta), and subsequentially the expected launch of mustard oil will help us to consistently achieve healthy growth.

However, there was an impact on operating margins in H1FY23 on account of inflationary pressure. We are currently focusing on gaining market share and with the easing of raw material prices going ahead, we are optimistic about margin expansion in the future

We anticipate excellent overall performance going forward as our domestic business picks up steam and is equally backed by the steady export business.”

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Basmati rice exporter GRM Overseas declares Q4FY22 result:

  • Total Revenue in FY22 at Rs 1,171 Cr, grew by 45% YoY;
  • Profit After Tax at Rs 85 Cr, Grew by 86% YoY
  • Annual Performance
    • GRM reported sharp rise in consolidated revenue by 45.4% YoY in FY22 to Rs 1,171.4 crore in FY22 from Rs 805.8 crore in FY21
      • GRM’s Foodkraft reported a revenue of Rs 189.2 crore in FY22, as compared to Rs 58 crore in FY21, a 226.5% YoY growth. Foodkraft business has 17% share in the overall revenue in FY22 as compared to 7% share in FY21
    • During FY22, EBITDA was at Rs 129.8 crore, registering a growth of 76.7% YoY with EBITDA Margin of 11.4%
    • PAT was at Rs 84.5 crore in FY22, grew significantly by 86.1% YoY from Rs 45.4 crore in FY21 with PAT margin at 7.5%, up by 177 bps YoY
  • Quarterly Performance
    • Consolidated Total Revenue grew by 24.9% YoY to Rs 376.9 crore in Q4FY22 from Rs 301.7 crore in Q4 FY21
    • EBITDA at Rs 25.4 crore declined by 4.7% YoY from Rs 26.7 crore in Q4FY21 with EBITDA Margin at 7.0% in Q4FY22 as against 9.0% in Q4FY21
      • Raw material cost increased by around 34% YoY during the quarter which impacted the overall margin
    • The company reported consolidated PAT of Rs 15.1 crore in Q4FY22 as compared to Rs 18.5 crore, down by 18.6% YoY; impacted by lower EBITDA and increased interest cost for the quarter

Speaking about the performance, Mr. Atul Garg, Managing Director, said: “We have delivered a strong performance during the year and we believe the roadmap is now set for future growth as we have been gaining momentum across categories. Further, inclusion of Mr. Sanjeev Dar as CEO and Mr. Dinesh Chhatra as COO for GRM Foodkraft have strengthen our managerial team and we are confident to drive strong domestic performance through building our 10X brand.

Basmati rice export, which is a major revenue contributor of GRM is further expected to grow at a steady pace of 7% CAGR till FY2025, should help the company to report a stable performance. Foodkraft business would grow at a much stronger pace with the induction of our 10X brand in newer markets along with launch of packaged wheat (flour) and expected launch edible oil in coming quarter. With strong brand visibility and increasing product categories, we are progressing well to become one of the Largest & Trusted Standalone Consumer Staple Brand in India.”

 

Result PDF

Other Agricultural Products company GRM Overseas declares Q3FY22 result:

  • Consolidated Revenue at Rs 772 Crores and PAT at Rs 69 Crores in 9M FY22
  • GRM Foodkraft reported Rs 132 Crores Revenues in 9MFY22 against Rs 58 Crores in FY21
  • Total Revenue at Rs 297 Crores in Q3 FY22 as against Rs 214 Crores reported in Q3 FY21, a 39.0% YoY growth; During 9M FY22 period, GRM reported total revenues at Rs 772 Crores as against Rs 503 Crores in 9M FY21, a 53.5% YoY growth
  • GRM Foodkraft (incorporated in July 2020) under its growing 10X brand reported a revenue of Rs 78 Crores and Rs 132 Crores in Q3 FY22 and 9M FY22, respectively, as against Rs 58 Crores revenue reported in FY21
  • Absolute EBITDA at Rs 23 Crores grew by 100.8% YoY in Q3 FY22 with an EBITDA Margin of 7.8%; During 9M FY22, EBITDA was at Rs 82 Crores, a growth of 79.3% YoY with the Company reporting an EBITDA Margin of 10.6% during the said period
  • GRM reported PAT of Rs 27 Crores as compared to Rs 6 Crores in Q3 FY21, a 350% YoY growth; In 9M FY22, PAT was at Rs 69 Crores, a significant growth of 158.2% YoY as against Rs 27 Crores in 9M FY21
  • The Company Board of Directors have proposed an Interim Dividend of 50% i.e., Rs 1.00 per equity share of Face Value of Rs 2 per equity share for FY22

Speaking about the performance, Mr. Atul Garg, Managing Director, said: “The performance during the current financial year till date has been in line with our anticipated goals. GRM has been showing continuous improvement both in terms of operational and financial fronts demonstrating its strong managerial skills.

With the incorporation of “GRM Foodkraft Private Limited” a majority owned subsidiary of GRM, the Company has been expanding its domestic footprints through its own “10X” brand by pushing its presence both in General trade and Modern trade. The Company’s tie-up with around 125 distributors and around 103,545 Kirana stores and also availability of its products at various modern trade and ecommerce platform such as Jio Mart, udaan, Amazon India, ElasticRun, Walmart India, etc among others will help it strengthen 10X brand presence and product reach while keeping it competitive and driving its revenue and profitability."

Result PDF

Q2FY22 Performance:

  • Total Revenue: Rs. 257.97 Cr
  • EBITDA: Rs. 31.39 Cr 
  • EBITDA Margins: 12.41% 
  • PAT: Rs. 24.47 Cr
  • PAT Margins: 9.49% 
  • Diluted EPS: Rs. 20.41 per share

H1FY22 Performance:

  • Total Revenue: Rs. 481.28 Cr 
  • EBITDA: Rs. 58.80 Cr
  • EBITDA Margins: 12.37% 
  • PAT: Rs. 42.77 Cr 
  • PAT Margins: 8.89% 
  • Diluted EPS: Rs. 35.67 per share 

 

 

Result PDF

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