Key Financial Figures (Consolidated, ₹ Crore)

Q2 FY27 Performance (YoY Comparison):

  • Total Income: ₹453.4 Crores (vs. ₹372.1 Crores in Q2 FY26), representing 21.9% growth
  • EBITDA: ₹31.8 Crores (vs. ₹24.5 Crores in Q2 FY26), representing 30.2% growth
  • EBITDA Margin: 7.0% (vs. 6.6% in Q2 FY26)
  • Profit Before Tax: ₹25.2 Crores (vs. ₹18.6 Crores in Q2 FY26), representing 35.5% growth
  • PAT: ₹18.8 Crores (vs. ₹14.8 Crores in Q2 FY26), representing 27.1% growth
  • PAT Margin: 4.1% (vs. 4.0% in Q2 FY26)
  • Cash Profit: ₹19.8 Crores (vs. ₹15.5 Crores in Q2 FY26)

H1 FY27 Performance (YoY Comparison):

  • Total Income: ₹880.4 Crores (vs. ₹706.5 Crores in H1 FY26), representing 24.6% growth
  • EBITDA: ₹67.9 Crores (vs. ₹56.1 Crores in H1 FY26), representing 21.0% growth
  • EBITDA Margin: 7.7% (vs. 7.9% in H1 FY26)
  • Profit Before Tax: ₹55.1 Crores (vs. ₹44.0 Crores in H1 FY26), representing 25.3% growth
  • PAT: ₹40.2 Crores (vs. ₹33.9 Crores in H1 FY26), representing 18.6% growth
  • PAT Margin: 4.6% (vs. 4.8% in H1 FY26)
  • Cash Profit: ₹42.2 Crores (vs. ₹35.4 Crores in H1 FY26)

Business Segment Performance

Domestic Business:

  • Q2 FY27 Revenue: ₹171 Crores, grew 37% YoY
  • H1 FY27 Revenue: ₹381 Crores, grew 54% YoY
  • Domestic contribution to total revenue: 44% in H1 FY27 (increased from 37% a year ago)

International Business:

  • Q2 FY27 Revenue: ₹279 Crores, grew 25% YoY
  • H1 FY27 Revenue: ₹494 Crores, grew 16% YoY

Management Commentary

Mr. Atul Garg, Chairman and Managing Director, stated that growth profitability accelerated sequentially, reflecting better earnings from operations, benefits of scale, and continued focus on operational efficiency. He highlighted:

  • The strategic shift toward branded domestic business remains central to the Vision FY28 roadmap
  • Indian consumers are increasingly prioritizing branded, quality-led, and convenience-oriented products
  • The company is deepening presence of 10X and Zarda King brands in existing markets
  • Distribution is being strengthened through general trade, modern retail, and digital commerce
  • Innovation is being pursued across premium, health, and convenience-led categories including Ready-to-Cook and Ready-to-Eat products
  • 10X Ventures provides an additional platform to identify and scale promising new-age consumer brands
  • International business continues to expand into new markets despite ongoing geopolitical challenges in key markets

Company Background & Operations

GRM Overseas Limited, established in 1974, is among the top 5 rice exporters in India with presence in 55+ countries. The company has:

  • Three rice processing units with total annual production capacity of 4,40,800 MT located in Panipat (Haryana), Naultha (Haryana), and Gandhidham (Gujarat)
  • Warehousing facility of 1.75 Lakhs sq. ft. space adjacent to the Gandhidham plant
  • Brands include "10X", "Himalaya River" & "Tanoush"
  • Also sells through private label arrangements under customers' brands

Contacts

  • Company Contact: Sachin Narang, Company Secretary and Compliance Officer (investor.relations@grmrice.com)
  • Investor Relations Partners: Rohit Anand, Riddhant Kapur, Kritvi Rastogi from Ernst & Young LLP