Promoters bought 87,000 shares & FIIs bought 3,29,660 shares: Rice & wheat manufacturing company reports positive results and allocates 13,52,000 warrants to non-promoters
The stock gave multibagger returns of 2,720 per cent in 5 years and a whopping 7,137 per cent over a decade.
Founded in 1974 as a rice trader, GRM Overseas Ltd has evolved into a global consumer staples company, exporting to 42 countries and ranking among India's top rice exporters. With three processing units and extensive warehousing, they produce and distribute branded and private label rice products, ensuring quality through stringent international standards and broad retail availability.
According to Quarterly Results, the company reported net sales of Rs 291.39 crore and net profit of Rs 20.48 crore in Q4FY25 compared to net sales of Rs 405.93 crore and net profit of Rs 21.17 crore in Q4FY24. In its annual results, the net sales increased by 3 per cent to Rs 1,348.19 crore and net profit increased by 1 per cent to Rs 61.24 crore in FY25 compared to FY24.
The company has approved the conversion of 13,52,000 convertible warrants into an equal number of equity shares, each with a face value of Rs 2, on a preferential basis. This conversion followed the receipt of Rs 15,21,00,000, representing 75 per cent of the issue price (Rs 112.5 per warrant), by SEBI (ICDR) Regulations, 2018. Consequently, the paid-up capital of the company increased from Rs 12,00,00,000 to Rs 12,27,04,000 with the newly allotted shares ranking pari-passu with existing equity shares. There are still 77,18,000 warrants pending conversion, for which holders can pay the remaining 75 per cent within 18 months of the initial allotment date.
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The promoters of the company bought 87,000 shares and increased their stake to 72.43 per cent in March 2025 compared to December 2024 and FIIs bought 3,29,660 shares and increased their stake to 0.72 per cent in March 2025 compared to December 2024. The shares of the company have an ROE of 20 per cent and an ROCE of 14 per cent. The stock gave multibagger returns of 2,720 per cent in 5 years and a whopping 7,137 per cent over a decade.
Disclaimer: The article is for informational purposes only and not investment advice.