GRM Overseas Ltd. (GRMOVER) AI Stock Analysis

2 Followers

GRM Overseas Ltd.

(NSE:GRMOVER)

Select Model

Rating:54Neutral

Price Target:INR 90.00▲(0.11% Upside)

Action:reiterated

Date:10/13/26

The overall score is constrained by significant financial risks and weak technicals. The primary concern is the company's inability to convert net income into positive operating cash flow, resulting in negative free cash flow, which threatens financial stability despite a cleaner balance sheet. This is compounded by a persistent downtrend in the stock price, trading far below key moving averages. Moderately positive valuation and strong historical revenue growth provide some support but are overshadowed by the cash flow and technical weaknesses.

Positive Factors

Revenue GrowthThe sharp FY2026 sales recovery indicates improving demand and renewed business momentum after two weaker periods. If sustained, stronger revenue can improve operating scale, support reinvestment in processing and brands, and strengthen the company’s position across domestic and export rice markets.

Negative Factors

Weak Cash ConversionNegative operating and free cash flow despite positive profits indicates that earnings are not consistently converting into usable cash. Repeated volatility can increase reliance on financing, constrain investment capacity, and leave the business more exposed to working-capital swings over the next several quarters.

GRM Overseas Ltd. (GRMOVER) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 17.95B
Dividend Yield: ―
Average Volume (3M): 347.09K
Price to Earnings (P/E): 19.1
Beta (1Y): 0.53
Revenue Growth: 43.22%
EPS Growth: 12.57%
Country: India
Employees: 186
Sector: General
Sector Strength: 55
Industry: Packaged Foods

GRM Overseas Ltd. Business Overview & Revenue Model

Company Description

GRM Overseas Limited is primarily focused on the cultivation, processing, and global distribution of both its branded and generic basmati rice varieties. In addition to its core rice business, the company also provides spices and whole wheat flour ma...

How the Company Makes Money

GRM Overseas makes money primarily by selling rice and related rice products. Its revenue model is centered on (1) procurement of paddy/rice from suppliers, (2) processing and value addition (such as milling, aging, grading, sorting, and packaging),...

GRM Overseas Ltd. Financial Statement Overview

Summary

Financial performance is mixed. Strong revenue growth and a significantly improved balance sheet (debt-to-equity at 0.61) are positives. However, persistent margin compression (gross margin down to 12.9%) and deeply negative free cash flow of ₹-756M in FY2026, indicating poor earnings quality, are major concerns.

Income Statement

60Neutral

Balance Sheet

75Positive

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	18.69B	17.69B	13.48B	13.12B	13.79B	11.34B
Gross Profit	2.85B	2.29B	2.09B	1.85B	2.43B	2.16B
EBITDA	1.22B	902.96M	1.06B	1.05B	1.11B	1.30B
Net Income	765.54M	743.42M	612.36M	597.81M	628.62M	838.39M
Balance Sheet
Total Assets	0	11.60B	9.11B	7.70B	7.84B	6.67B
Cash, Cash Equivalents and Short-Term Investments	741.14M	741.14M	534.03M	100.94M	82.56M	78.04M
Total Debt	0	3.68B	3.64B	3.93B	4.13B	3.38B
Total Liabilities	-6.06B	5.55B	4.82B	4.38B	5.09B	4.60B
Stockholders Equity	6.06B	6.02B	4.26B	3.31B	2.74B	2.06B
Cash Flow
Free Cash Flow	1.17B	-756.03M	390.42M	449.32M	-939.23M	-1.20B
Operating Cash Flow	1.17B	-738.49M	465.57M	471.25M	-887.13M	-1.16B
Investing Cash Flow	-51.02M	-542.78M	-87.60M	-43.39M	-47.58M	-59.75M
Financing Cash Flow	-1.48B	1.04B	50.70M	-393.73M	889.98M	1.25B

GRM Overseas Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price89.90

Price Trends

50DMA86.62Positive

100DMA89.01Positive

200DMA121.63Negative

Market Momentum

MACD1.27Positive

RSI50.19Neutral

STOCH18.26Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GRMOVER, the sentiment is Negative. The current price of 89.90 is below the 20-day moving average (MA) of 91.68, above the 50-day MA of 86.62, and below the 200-day MA of 121.63, indicating a neutral trend. The MACD of 1.27 indicates Positive momentum. The RSI at 50.19 is Neutral, neither overbought nor oversold. The STOCH value of 18.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GRMOVER.

GRM Overseas Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GRMOVER against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:GOKULAGRO	81Outperform	INR 66.90B	14.35	―	―	14.83%	58.34%
IN:GAEL	64Neutral	INR 67.33B	13.19	―	0.20%	15.85%	147.08%
IN:ADFFOODS	61Neutral	INR 26.52B	28.91	―	0.50%	25.56%	18.33%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:GRMOVER	54Neutral	INR 18.63B	19.12	―	―	43.22%	12.57%
IN:GOKUL	53Neutral	INR 3.69B	17.79	―	―	15.39%	27.60%
IN:AWL	51Neutral	INR 213.15B	18.43	―	0.61%	18.01%	6.60%

* General Sector Average

Performance Comparison

IN:GRMOVER and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GRMOVER	GRM Overseas Ltd.	89.90	-67.82	-43.00%
IN:ADFFOODS	ADF Foods Limited	241.40	22.63	10.34%
IN:AWL	Adani Wilmar Limited	164.00	-109.42	-40.02%
IN:GAEL	Gujarat Ambuja Exports Limited	146.80	43.68	42.36%
IN:GOKUL	Gokul Refoils & Solvent Ltd.	37.32	-2.59	-6.49%
IN:GOKULAGRO	Gokul Agro Resources Ltd.	226.70	26.00	12.95%

GRM Overseas Ltd. Corporate Events

GRM Overseas Publishes 32nd AGM Notice and E-Voting Details

Sep 8, 2026

GRM Overseas Ltd. operates in the food processing and agro-commodities sector, with a focus on rice and related products marketed under the GRM Rice brand. The company serves both domestic and export markets, positioning itself as a branded player in...

GRM Overseas Sets Virtual 32nd AGM and Opens Remote E-Voting Window

Sep 6, 2026

GRM Overseas Ltd. has scheduled its 32nd Annual General Meeting for 29 September 2026 at 12:30 p.m., which will be conducted through video conferencing and other audio-visual means in line with virtual-meeting practices. The company has set up a remo...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 13, 2026

GRM Overseas Ltd. AI Stock Analysis