Stock market today: In a show of confidence, the promoter of small-cap company GRM Overseas Limited acquired more shares via the open market earlier this week, according to an exchange filing dated February 21.
The company on Friday, February 21, informed exchanges that one of the promoters Atul Garg picked up 45,000 equity shares of a face value of ₹2 each, representing a 0.07% stake, of GRM Overseas on Wednesday, February 19.
Before the acquisition, the promoters cumulatively held 4,46,09,984 shares of the company, amounting to a 74.35% stake. After the share purchase by Garg, the promoter holding has risen to 4,46,54,984 shares or 74.42% stake. Meanwhile, at the end of the December 2024 quarter, promoters owned 4,33,71,984 shares, or 72.79% holding, of the company.
Stock Price Trend
The promoter stake purchase comes at a time when the smallcap stock is trading higher despite a crash in the broader markets.
GRM Overseas share price has gained 9.48% on a year-to-date (YTD) basis as against a 4% decline in the Nifty 50 index and a 17% fall in the Nifty Smallcap 100 index during the same period.
The stock ended the trade 0.40% lower at ₹218.70 apiece on the NSE. It touched the day’s high of ₹223.30 and a low of ₹214.11.
Financial Snapshot
During the quarter ended December 2024, GRM Overseas, involved in milling, processing and marking branded and non-branded basmati rice in the domestic and overseas market, reported a 2.27% decline in Q3 revenue from operations to ₹382.2 crore from ₹391.1 crore in the same period last year.
The profit after tax (PAT) also dipped to ₹13.5 crore from ₹15.5 crore on a year-on-year (YoY) basis, recording a 12.9% decline.
The operating performance was also weak, with EBITDA at ₹23.3 crore in Q3 FY25 versus ₹26.9 crore in Q3 FY24. The EBITDA margin dropped to 6.1% from 6.9% on a YoY basis.
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