GRM Overseas Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 12:52 am

Market Cap	1,156 Cr.
Current Price	193
High / Low	289/113
Stock P/E	22.2
Book Value	60.6
Dividend Yield	0.00 %
ROCE	12.9 %
ROE	18.3 %
Face Value	2.00
PEG Ratio	3.25

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

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Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
GRM Overseas Ltd	1,156 Cr.	193	289/113	22.2	60.6	0.00 %	12.9 %	18.3 %	2.00
Freshtrop Fruits Ltd	133 Cr.	167	183/121		145	0.00 %	6.40 %	51.6 %	10.0
Chamanlal Setia Exports Ltd	2,075 Cr.	401	443/181	18.6	131	0.56 %	20.2 %	17.4 %	2.00
Mangalam Global Enterprise Ltd	402 Cr.	24.4	32.0/15.8	14.5	11.6	0.08 %	13.8 %	15.2 %	2.00
LT Foods Ltd	14,314 Cr.	412	452/160	23.8	105	0.36 %	21.1 %	19.3 %	1.00
Industry Average	3,240.00 Cr	289.85		31.91	114.89	0.29%	12.89%	17.86%	3.58

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	214	246	288	351	313	259	331	359	297	166	357	365	276
Expenses	188	217	267	342	284	241	310	342	276	158	342	351	255
Operating Profit	26	29	21	8	29	18	21	18	22	8	15	14	21
OPM %	12%	12%	7%	2%	9%	7%	6%	5%	7%	5%	4%	4%	7%
Other Income	1	6	16	15	1	-0	8	4	6	7	9	11	5
Interest	3	2	3	4	5	3	5	6	6	4	5	6	4
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before tax	24	31	33	18	24	14	22	14	21	9	18	19	22
Tax %	25%	25%	25%	28%	26%	25%	27%	39%	25%	27%	26%	18%	25%
Net Profit	18	24	25	13	18	10	16	9	16	7	13	16	16
EPS in Rs	2.93	3.92	4.10	2.19	2.98	1.74	2.73	1.48	2.61	1.13	2.21	2.61	2.68

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 23, 2024, 2:25 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	270	422	568	355	591	924	1,068	739	748	1,098	1,262	1,186	1,164
Expenses	258	406	544	341	571	889	1,026	687	690	1,013	1,177	1,127	1,106
Operating Profit	12	16	24	14	20	35	42	52	59	85	86	59	58
OPM %	4%	4%	4%	4%	3%	4%	4%	7%	8%	8%	7%	5%	5%
Other Income	0	-0	-0	0	-0	0	1	13	5	37	12	32	32
Interest	7	7	14	9	10	15	16	14	12	13	19	20	18
Depreciation	1	1	2	2	2	2	2	3	3	3	4	4	3
Profit before tax	4	7	8	3	8	18	25	48	49	106	75	67	68
Tax %	33%	33%	42%	34%	34%	35%	35%	24%	25%	26%	28%	24%
Net Profit	3	5	5	2	6	12	16	36	37	79	54	51	52
EPS in Rs	0.50	0.88	0.83	0.37	1.01	2.12	2.94	6.55	6.20	13.14	8.93	8.56	8.63
Dividend Payout %	27%	15%	0%	0%	0%	16%	11%	5%	22%	70%	5%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	66.67%	0.00%	-60.00%	200.00%	100.00%	33.33%	125.00%	2.78%	113.51%	-31.65%	-5.56%
Change in YoY Net Profit Growth (%)	0.00%	-66.67%	-60.00%	260.00%	-100.00%	-66.67%	91.67%	-122.22%	110.74%	-145.16%	26.09%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	11%
5 Years:	2%
3 Years:	17%
TTM:	0%

Compounded Profit Growth
10 Years:	27%
5 Years:	27%
3 Years:	12%
TTM:	9%

Stock Price CAGR
10 Years:	50%
5 Years:	74%
3 Years:	-27%
1 Year:	1%

Return on Equity
10 Years:	27%
5 Years:	29%
3 Years:	27%
Last Year:	18%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 1:34 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	4	4	4	4	4	4	4	4	4	12	12	12	12
Reserves	22	26	31	33	38	50	64	98	135	192	243	294	352
Borrowings	99	143	155	132	198	292	348	210	188	331	407	393	213
Other Liabilities	11	38	55	15	59	64	62	60	89	119	99	38	44
Total Liabilities	136	211	244	183	299	410	478	372	416	655	761	737	621
Fixed Assets	18	22	22	21	21	21	31	37	35	36	37	36	38
CWIP	0	0	0	0	0	0	3	0	0	0	0	0	0
Investments	0	0	0	0	0	1	1	1	2	0	2	2	12
Other Assets	118	189	222	162	278	387	442	333	380	618	722	700	571
Total Assets	136	211	244	183	299	410	478	372	416	655	761	737	621

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	-14	-26	1	46	-67	-77	-23	161	34	-113	-52	36
Cash from Investing Activity +	-0	-5	-3	-1	-2	-3	-15	-6	-1	-4	-6	0
Cash from Financing Activity +	13	36	-3	-32	56	78	38	-155	-33	119	56	-33
Net Cash Flow	-1	5	-5	13	-13	-1	1	0	0	2	-2	3

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-87.00	-127.00	-131.00	-118.00	-178.00	-257.00	-306.00	-158.00	-129.00	-246.00	-321.00	-334.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	96	47	83	85	46	74	93	135	134	134	116	144
Inventory Days	69	124	68	77	146	90	63	33	56	79	108	76
Days Payable	12	35	34	14	18	24	16	21	27	32	25	9
Cash Conversion Cycle	153	137	117	148	174	140	140	147	164	182	198	210
Working Capital Days	143	123	107	137	135	128	129	135	141	165	180	202
ROCE %	10%	10%	12%	7%	9%	11%	10%	17%	19%	28%	16%	13%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	72.00%	72.00%	72.00%	72.00%	72.00%	71.72%	71.72%	71.72%	71.72%	72.16%	72.29%	72.29%
FIIs	0.04%	0.12%	0.00%	0.00%	0.00%	0.07%	0.00%	0.00%	0.08%	0.26%	0.67%	0.23%
DIIs	0.00%	0.00%	0.00%	0.06%	0.16%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.25%
Public	27.96%	27.88%	28.00%	27.93%	27.83%	28.21%	28.28%	28.27%	28.20%	27.58%	27.05%	27.23%
No. of Shareholders	12,796	18,249	18,875	18,983	18,748	19,395	21,031	26,016	25,302	25,248	25,571	34,199

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	10.00	10.00
Basic EPS (Rs.)	9.96	10.45	14.01	121.92	85.92
Diluted EPS (Rs.)	9.96	10.45	14.01	121.92	85.92
Cash EPS (Rs.)	10.73	11.11	14.61	122.44	93.82
Book Value[Excl.RevalReserv]/Share (Rs.)	54.79	45.52	34.10	338.23	238.44
Book Value[Incl.RevalReserv]/Share (Rs.)	55.11	45.85	34.43	343.18	243.72
Revenue From Operations / Share (Rs.)	218.74	229.91	189.05	2028.87	2106.39
PBDIT / Share (Rs.)	17.45	18.50	21.63	186.25	163.85
PBIT / Share (Rs.)	16.84	17.87	21.11	179.07	155.95
PBT / Share (Rs.)	13.41	14.57	18.94	149.36	116.67
Net Profit / Share (Rs.)	10.12	10.48	14.09	115.27	85.92
NP After MI And SOA / Share (Rs.)	9.96	10.45	13.97	114.78	85.92
PBDIT Margin (%)	7.97	8.04	11.44	9.17	7.77
PBIT Margin (%)	7.69	7.77	11.16	8.82	7.40
PBT Margin (%)	6.13	6.33	10.01	7.36	5.53
Net Profit Margin (%)	4.62	4.55	7.45	5.68	4.07
NP After MI And SOA Margin (%)	4.55	4.54	7.39	5.65	4.07
Return on Networth / Equity (%)	18.18	23.03	41.15	33.98	36.03
Return on Capital Employeed (%)	30.10	38.50	60.59	51.43	62.55
Return On Assets (%)	7.76	7.99	12.56	10.89	8.82
Total Debt / Equity (X)	1.20	1.52	1.66	1.41	2.38
Asset Turnover Ratio (%)	1.69	1.90	2.05	2.01	1.77
Current Ratio (X)	1.67	1.45	1.37	1.36	1.20
Quick Ratio (X)	1.17	0.83	0.94	0.96	0.98
Inventory Turnover Ratio (X)	3.60	4.88	6.32	8.25	4.68
Dividend Payout Ratio (NP) (%)	0.00	4.30	18.96	21.50	5.81
Dividend Payout Ratio (CP) (%)	0.00	4.06	18.28	20.23	5.32
Earning Retention Ratio (%)	0.00	95.70	81.04	78.50	94.19
Cash Earning Retention Ratio (%)	0.00	95.94	81.72	79.77	94.68
Interest Coverage Ratio (X)	5.08	5.60	9.98	6.27	4.17
Interest Coverage Ratio (Post Tax) (X)	3.95	4.17	7.50	4.88	3.19
Enterprise Value (Cr.)	1097.65	1511.57	4178.68	814.73	256.31
EV / Net Operating Revenue (X)	0.83	1.10	3.68	1.02	0.32
EV / EBITDA (X)	10.48	13.62	32.20	11.10	4.24
MarketCap / Net Operating Revenue (X)	0.54	0.79	3.39	0.79	0.06
Retention Ratios (%)	0.00	95.69	81.03	78.49	94.18
Price / BV (X)	2.17	4.05	18.89	4.75	0.56
Price / Net Operating Revenue (X)	0.54	0.79	3.39	0.79	0.06
EarningsYield	0.08	0.05	0.02	0.07	0.63

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 251.12

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 21, 2024, is Undervalued by 30.11% compared to the current share price 193.00

Intrinsic Value of as of December 21, 2024 is: 268.29

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 21, 2024, is Undervalued by 39.01% compared to the current share price 193.00

Last 5 Year EPS CAGR: 6.84%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (355.54 cr) and profit (37.38 cr) over the years.	The stock has a low average ROCE of 13.50%, which may not be favorable. The stock has a high average Working Capital Days of 143.75, which may not be favorable. The stock has a high average Cash Conversion Cycle of 159.17, which may not be favorable. The company has higher borrowings (239.15) compared to reserves (121.38), which may suggest financial risk.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 4.62%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 30.1% (Industry Average ROCE: 12.89%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 18.18% (Industry Average ROE: 16.38%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 3.95
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.17
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 22.2 (Industry average Stock P/E: 26.59)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 1.2
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

GRM Overseas Ltd. is a Public Limited Listed company incorporated on 03/01/1995 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1995PLC064007 and registration number is 064007. Currently Company is involved in the business activities of Rice milling. Company’s Total Operating Revenue is Rs. 1098.42 Cr. and Equity Capital is Rs. 12.00 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Agricultural Products	128, First Floor, Delhi Delhi 110034	investor.grm@gmail.com http://www.grmrice.com

Management
Name	Position Held
Mr. Atul Garg	Chairman & Managing Director
Mrs. Mamta Garg	Executive Director
Mr. Hukam Chand Garg	Non Executive Director
Mr. Nipun Jain	Non Executive Director
Mr. Raj Kumar Garg	Independent Director
Mr. Gautam Gupta	Independent Director
Mr. Tarun Singh	Independent Director
Ms. Nidhi	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹251.12, which is 30.11% higher than the current market price of ₹193.00. The stock has a market capitalization of 1,156 Cr. and recorded a high/low of 289/113 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹352 Cr and total liabilities of ₹621 Cr.

What is the Market Cap of ?

The Market Cap of is 1,156 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 193.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 289/113.

What is the Stock P/E of ?

The Stock P/E of is 22.2.

What is the Book Value of ?

The Book Value of is 60.6.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 12.9 %.

What is the ROE of ?

The ROE of is 18.3 %.

What is the Face Value of ?

The Face Value of is 2.00.