FMCG Company, GRM Overseas Announced Q3 Results; Check insights

The company reported impressive numbers in its Q3FY24 and 9MFY24. According to the quarterly results, net sales increased by 87.8 per cent to Rs 382.48 crore, operating profit increased by 84.1 per cent to Rs 26.90 crore and net profit reported at 134 per cent to Rs 15.49 crore in Q3FY24 compared to Q2FY24.

In its nine-month results, the company reported net sales of Rs 906.51 crore and net profit of Rs 39.55 crore in 9MFY24 compared to net sales of Rs 945.84 crore and net profit of Rs 51.58 crore in 9MFY23.

The Shares of GRM Overseas Ltd surged 2.16 per cent to Rs 193.70 per share with an intraday high of Rs 202.35. The stock's 52-week high is Rs 352.10 while its 52-week low is Rs 159.05.

In December 2023, The company sold more than three per cent stake in GRM Foodkraft Private Limited, a material subsidiary of the company to Sauce.vc (Sauce), a consumer-focused venture capital fund, said the company in the exchange filing. Sauce has also acquired an additional one per cent stake from other shareholders.

GRM Overseas sells a variety of Basmati Rice under Brand 10X Zarda King XXL, Wheat flour (atta), gram flour (besan), bulgur (daliya), semolina (sooji), Flattened rice (poha) and more under its 10X Shakti brand. The company also has a ready-to-cook product portfolio including Hyderabadi Biryani, one-pot Moradabadi Biryani and others.