Multibagger Rice Stock Jumps Over 1% After Company Partners with Seven Star Company to Launch ‘10X’ Basmati Rice in Saudi Arabia

GRM Overseas Limited, one of India’s leading basmati rice exporters and a fast-growing FMCG company, has announced a major partnership with Seven Star Company Limited, based in Riyadh, Kingdom of Saudi Arabia. The collaboration aims to distribute GRM’s flagship basmati rice brand, ‘10X’, across the Saudi Arabian market.

Under this agreement, Seven Star Company Limited will handle the distribution of the ‘10X’ brand in multiple pack sizes through its extensive retail and distribution network. This partnership marks a strategic move by GRM to strengthen its presence in international markets, particularly in the Middle East region.

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Commenting on the development, Mr. Atul Garg, Chairman and Managing Director of GRM Overseas Limited, stated, “We are delighted to partner with Seven Star Company Limited to expand our brand ‘10X’ in Saudi Arabia.” He added that Seven Star’s strong market presence and distribution capabilities will enable GRM to reach a wider consumer base and further enhance its global footprint. Mr. Garg emphasized that the collaboration aligns with GRM’s strategic vision to make its premium products accessible across key global markets.

Established in 1974, GRM Overseas began as a rice processing and trading firm and has since evolved into a consumer staples organization. The company initially exported rice to the Middle East, the United Kingdom, and the United States, and today exports to more than 50 countries. GRM is recognized among the top five rice exporters in India.

Operationally, GRM runs three rice processing units located in Panipat (Haryana), Naultha (Haryana), and Gandhidham (Gujarat), with a total annual production capacity of 4,40,800 metric tonnes. The company also maintains a 1.75 lakh sq ft warehousing facility near its Gandhidham plant, supporting efficient exports through the Kandla and Mundra ports.

Apart from its flagship brand ‘10X’, GRM markets rice under the “Himalaya River” and “Tanoush” brands and is also involved in private label arrangements for various customers. The company follows strict quality control standards to meet international requirements and has recently expanded its direct-to-consumer presence across major retailers in India and abroad.

About the Company

Since its start in 1974 as a rice processing and trading house, GRM has evolved into a major consumer staples organisation and one of India's top five rice exporters. The company initially focused on the Middle East and the United Kingdom but has since expanded its market to 42 countries. With three processing units in Haryana and Gujarat, GRM has an annual production capacity of 440,800 MT and a large warehousing facility near the ports of Kandla and Mundra. The company sells its products under brands like "10X," "Himalaya River," and "Tanoush," as well as through private labels, and has recently focused on direct-to-consumer sales through major retailers both in India and abroad, while maintaining strict quality control.

According to Quarterly Results, the company reported net sales of Rs 334.4 crore and net profit of Rs 19.1 crore in Q1FY26 compared to net sales of Rs 375.3 crore and net profit of Rs 18 crore in Q1FY25. In its annual results, the net sales increased by 2.2 per cent to Rs 1,374.2 crore and net profit increased by 1 per cent to Rs 61.24 crore in FY25 compared to FY24.

The shares of the company have an ROE of 16 per cent and an ROCE of 14 per cent with 3 years ROE track record of 20 per cent. The stock gave multibagger returns of 127 per cent from its 52-week low of Rs 175.90 per share.

Disclaimer: The article is for informational purposes only and not investment advice.