Mumbai (Maharashtra) [India], November 18: GRM Overseas Ltd, a leading player in the consumer staples sector, today unveiled plans to strengthen its financial foundation and reward shareholders amid robust performance. The company has proposed an increase in its authorized share capital from Rs. 20,00,00,000 to Rs. 45,00,00,000, which involves authorizing an additional 22,50,00,000 equity shares of face value Rs. 2 each. These new shares will rank pari-passu with existing shares, and the change will be reflected by amending Clause V of the Memorandum of Association. This strategic move empowers the board and company secretary to take all necessary steps, including filing required e-forms and securing approvals, to implement the resolution in compliance with relevant regulations.
In a parallel initiative aimed at enhancing shareholder value, GRM Overseas seeks approval to issue bonus shares to its existing equity shareholders. The company plans to capitalize up to Rs. 27,62,80,000 from its equity reserves, such as securities premium or other free reserves, to distribute fully paid bonus shares of Rs. 2 each in a 2-for-1 ratio. This will be determined based on a record date, with the board and company secretary authorized to handle all implementation details, ensuring adherence to applicable laws and addressing any regulatory requirements.
The proposals come on the heels of impressive financial results that underscore GRM Overseas’ growth trajectory. In the second quarter of fiscal year 2026, the company reported a 15 percent rise in net sales to Rs. 362.43 crore and a remarkable 61 percent increase in net profit to Rs. 14.76 crore compared to the same period in the previous year. For the first half of FY26, net sales grew by 1 percent to Rs. 689.21 crore, while net profit surged by 24 percent to Rs. 33.85 crore year-over-year. On an annual basis, FY25 saw net sales climb by 2.2 percent to Rs. 1,374.2 crore and net profit edge up by 1 percent to Rs. 61.24 crore from FY24, reflecting the company’s resilience and operational efficiency.
Since its inception in 1974 as a rice processing and trading entity, GRM Overseas has transformed into one of India’s top five rice exporters, serving 42 countries worldwide. With state-of-the-art processing units in Haryana and Gujarat boasting an annual capacity of 440,800 metric tons, and strategic warehousing near key ports like Kandla and Mundra, the company maintains rigorous quality control. GRM markets its products under popular brands such as “10X,” “Himalaya River,” and “Tanoush,” while also engaging in private label partnerships and expanding direct-to-consumer sales through major retailers in India and abroad.
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