GRM Overseas

Feb 4 (Reuters) - GRM Overseas Ltd GRMO.NS:

• GRM OVERSEAS DEC-QUARTER CONSOL PAT 191.4 MILLION RUPEES

• GRM OVERSEAS DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 4.83 BILLION RUPEES

Source text: ID:nBSE6HQgV4

Further company coverage: GRMO.NS

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** Indian rice exporters fall as much as 7.6%

** U.S. President Donald Trump signaled that he could impose fresh tariffs on Indian rice, according to media reports

** "Daawat" brand rice seller LT Foods LTOL.NS falls 7.6%, steepest pct drop among peers

** U.S. is co's biggest export market

** GRM Overseas GRMO.NS sheds 4.2%

** "India Gate" brand KRBL KRBL.NS, Kohinoor Foods KOFO.NS down 2% and 1%, respectively

** On Monday, Trump unveiled $12 billion aid package for American farmers, who have sought aid for seeds, fertilisers amid higher costs

** YTD, KOFO falls 39.5%, LTOT sheds 13%, KRBL rises ~25%, GRMO jumps 120%

(Reporting by Urvi Dugar in Bengaluru)

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Nov 13 (Reuters) - GRM Overseas Ltd GRMO.NS:

• GRM OVERSEAS - APPROVED ISSUANCE OF BONUS SHARES IN THE RATIO OF 2:1

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** Indian wheat and rice stocks fall between 1% to ~5%

** Country braces for one of the warmest March months on record, which could cut yields of maturing wheat crop, Reuters reports

** 2025 could be the fourth consecutive year of poor crop yields, report adds

** High temperature can also affect quality of rice yield

** Rice exporters Chaman Lal Setia CLSE.NS and GRM Overseas GRMO.NS shed 3.64% and 1.67%, respectively

** Adani Wilmar ADAW.NS, which sells wheat flour to consumers, slips 4.8%

(Reporting by Ananta Agarwal in Bengaluru)

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Oct 24 (Reuters) - GRM Overseas Ltd GRMO.NS:

• EXPANDS PRESENCE THROUGH PARTNERSHIP WITH SUPERMERCADOS CENTRAL LTDA IN CHILE

Source text for Eikon: ID:nBSE82GS8y

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Oct 23 (Reuters) - GRM Overseas Ltd GRMO.NS:

• EXPANDS ITS GLOBAL PRESENCE THROUGH PARTNERSHIP WITH SOLARIZ INVEST IN CHILE

• INTRODUCES ITS BASMATI RICE BRAND 'TANOUSH' TO CHILEAN CONSUMERS

Source text for Eikon: ID:nBSE64lZhL

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** Indian rice exporters gain between 1.4% and 4% after govt. lifts most curbs on exports of non-basmati white rice

** Kohinoor Foods KOFO.NS and Chaman Lal Setia Exports CLSE.NS, up 4% each, lead gains

** KRBL KRBL.NS and LT Foods LTOL.NS rise 1.5% and 1.9%, respectively, while GRM Overseas GRMO.NS adds 3%

** Export curbs lifted due to above-average monsoon rains seen boosting crop yields and overflowing stocks in state granaries

** YTD, LTOL top gainer among pack with ~99% rise, while KRBL, weakest stock, is down ~19%

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Indian rice companies surge on report of government removing floor price for basmati rice exports

** This will help boost overseas sales of the premium grade and aid farmers struggling with debt and higher costs

** India is the world's largest rice exporter

** 'India Gate' basmati rice brand owner KRBL KRBL.NS gains 4.7%, 'Daawat' brand owner LT Foods LTOL.NS jumps 5.7%

** GRM Overseas GRMO.NS and Kohinoor Foods KOFO.NS up 2.7% and 9.8%, respectively

** KOFO set to snap three straight sessions of losses, down ~8% YTD, while KRBL down ~15%

** YTD GRMO, LTOL up 39% and ~112%, respectively

(Reporting by Manvi Pant in Bengaluru)

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Aug 8 (Reuters) - GRM Overseas Ltd GRMO.NS:

• GRM OVERSEAS - EXPANDS GLOBAL PRESENCE THROUGH PARTNERSHIP WITH SOLARIZ INVEST IN MOROCCO

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** Shares of Indian rice companies rise on report government considering relaxing restrictions

** Indian government might relax restrictions on exports of some rice varieties, local media reported citing sources

** Govt may cut export duty on parboiled rice, mulls minimum export price for basmati shipments, report adds

** 'Daawat' basmati rice brand owner LT Foods LTOL.NS jumps 13%; 'India Gate' brand owner KRBL KRBL.NS rises 8.8%

** GRM Overseas GRMO.NS and Kohinoor Foods KOFO.NS up 6.4% and 7.3%

** YTD GRMO and LTOL climbed 17% and 43%, KRBL and KOFO shed 11.2% and 2% respectively

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of GRM Overseas Ltd GRMO.NS rise as much as 7.8% to 210 rupees, hitting highest since Dec. 15, 2023

** Basmati rice exporter says, it has partnered with Diplomat and is set to expand its presence in Georgia

** Adds, Diplomat Georgia will be the exclusive distributor of GRM Overseas products in Georgia

** Stock set to gain after a day of loss

** More than 788,000 shares traded as of 2:22 p.m. IST, 2.7x their 30-day moving avg

** GRMO last up 5.7%, adding to YTD gains of 8.8%

(Reporting by Meenakshi Maidas in Bengaluru)

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** Shares of India's GRM Overseas GRMO.NS rise 3% after gaining as much as 5.8%

** Co gets rice shipment order worth 600 mln rupees ($7.2 mln) from Yemen-based Al-Naqeeb Group

** Stock set to rise for the third straight session, if gains hold

** Trading vols nearly 3x 30-day avg

** YTD stock had risen 5.5%

($1 = 83.4850 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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June 18 (Reuters) - GRM Overseas Ltd GRMO.NS:

• TO CONSIDER PROPOSAL OF RAISING FUNDS

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April 29 (Reuters) - GRM Overseas Ltd GRMO.NS:

• ORDER RECEIVED FROM MINISTRY OF AGRICULTURAL, FISHERIES WEALTH & WATER RESOURCES, SULTANATE OF OMAN

• GOT ORDER WORTH 465 MILLION RUPEES

• ORDER TO SUPPLY 4,500 MT OF PREMIUM BASMATI RICE

Source text for Eikon: ID:nBSErLSPk

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** Shares of rice and tea exporters fall amid escalations in Middle East tensions after Iran's retaliatory attack on Israel over the weekend

** India is one of the top exporters of basmati rice and tea, and Iran is a leading buyer of those commodities

** Shares of rice exporters Kohinoor Foods KOFO.NS, Adani Wilmar ADAW.NS, LT Foods LTOL.NS, GRM overseas GRMO.NS, Mishtann Foods MIST.BO down between 2%-8%

** Tea exporters such as Tata Consumer Products TACN.NS, CCL Products CCLP.NS, Rossell India ROSS.NS decline between 1%-5%

** TACN is among top percentage losers on benchmark Nifty 50 index .NSEI, which is down 1%

(Reporting by Rama Venkat in Bengaluru)

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Feb 6 (Reuters) - GRM Overseas Ltd GRMO.NS:

• DEC-QUARTER CONSOL NET PROFIT 154.9 MILLION RUPEES VERSUS 196.1 MILLION RUPEES YEAR AGO

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.82 BILLION RUPEES VERSUS 3.57 BILLION RUPEES YEAR AGO

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Dec 11 (Reuters) - GRM Overseas Ltd GRMO.NS:

• SOLD MORE THAN 3% STAKE IN GRM FOODKRAFT

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Nov 14 (Reuters) - GRM Overseas Ltd GRMO.NS:

• INDIA'S GRM OVERSEAS LTD SEPT-QUARTER CONSOL NET PROFIT 66.2 MILLION RUPEES VERSUS 136.6 MILLION RUPEES

• GRM OVERSEAS LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.04 BILLION RUPEES VERSUS 2.71 BILLION RUPEES

Source text for Eikon: ID:nBSE8TNHXT

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** Shares of Indian rice companies like LT Foods LTOL.NS, KRBL KRBL.NS, Kohinoor Foods KOFO.NS, GRM Overseas GRMO.NS and Chaman Lal Setia Exports CLSE.NS up between 2.6% and 5.6%

** Rise after India cut floor price for basmati rice exports to $950 per metric ton from $1,200, according to a Reuters report citing a government source

** The reduction will reinstate competitiveness of Indian basmati rice shipments at the global markets - Atul Garg, GRMO MD, per the report

** KOFO, LTOL, CLSE, KRBL, GRMO have all risen since the floor price cut likelihood was reported earlier this week

(Reporting by Varun Vyas in Bengaluru)

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Adds details, exporter's comment

By Mayank Bhardwaj and Rajendra Jadhav

NEW DELHI, Oct 26 (Reuters) - India has cut the floor price for basmati rice exports to $950 per metric ton from $1,200, a government source told Reuters on Thursday, after farmers and exporters complained it was damaging the trade by stalling shipments.

India had imposed a $1,200 per ton minimum export price (MEP) on basmati rice shipments in August to keep a lid on local prices ahead of key state elections.

The MEP was expected to be cut with the arrival of the new season harvests, but the government said on Oct. 14 it would maintain it until further notice, angering farmers and exporters who said the new season's rice crops had led to a drop in domestic prices.

Authorities later said they were actively reviewing the MEP.

"The reduction will reinstate competitiveness of Indian basmati rice shipments at the global markets. Exporters are now working towards regaining the lost ground," said Atul Garg, managing director at GRM Overseas GRMO.NS, a leading exporter.

India and Pakistan are the leading exporters of basmati rice. New Delhi exports more than 4 million metric tons of basmati - the premium long-grain variety famed for its aroma - to countries such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates and the United States.

India is set to produce more basmati rice this year than the previous year as farmers have expanded their cultivation areas following record returns last year, said a dealer with a global trade house.

However, farmers were struggling to sell paddy because millers and traders stopped coming to key wholesale markets to make purchases, he said.

"Now they will start buying paddy, which will help stabilize paddy prices that have corrected nearly 20% in the last two months," he added.

India, the world's biggest rice exporter, has also curbed exports of non-basmati rice varieties.

(Reporting by Mayank Bhardwaj in New Delhi and Rajendra Jadhav in MUMBAI;
Editing by Andrew Cawthorne and Deborah Kyvrikosaios)

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Sept 27 (Reuters) - GRM Overseas Ltd GRMO.NS:

• APPROVED RE-APPOINTMENT OF ATUL GARG AS MANAGING DIRECTOR FOR FURTHER 5 YEARS

Source text for Eikon: ID:nBSEcrGdJ

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Aug 28 (Reuters) - GRM Overseas Ltd GRMO.NS:

• NO ADVERSE IMPACT ON CO'S EXPORTS DUE TO INDIA GOVERNMENT MINIMUM EXPORT PRICE FOR BASMATI RICE

• THERE ARE SOME VARIETIES OF BASMATI RICE THAT MAY FALL BELOW EXPORT PRICE THRESHOLD

Source text for Eikon: ID:nBSE8MChC2

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Aug 22 (Reuters) - GRM Overseas Ltd GRMO.NS:

• RE-APPOINTS ATUL GARG AS MD

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By Rajendra Jadhav

MUMBAI, July 31 (Reuters) - Indian rice exporters have been receiving requests from buyers to advance shipments of basmati rice after New Delhi banned exports of non-basmati white rice to dampen local prices, industry officials told Reuters.

The world's biggest exporter of rice surprised buyers earlier this month by imposing a ban on exports of non-basmati white rice after retail rice prices climbed 3% in a month after late but heavy monsoon rains caused significant damage to crops.

"Buyers are requesting early shipments because they fear that the government might put restrictions on exports of basmati rice as well," said Atul Garg, managing director at GRM Overseas GRMO.NS, a leading exporter of basmati rice.

Buyers usually sign long-term contracts with the assurance of dispatching a certain quantity every month. However, some of the buyers are now requesting to ship in August what was supposed to be shipped in September and October, he said.

India exported around 4.5 million metric tons of basmati rice in 2022/23, with Saudi Arabia, Iran, Iraq, United Arab Emirates, Yemen and the United States among the top buyers.

Non-basmati white rice, which India has banned for export, is mainly purchased by Senegal, Benin, Togo, Bangladesh, and Cote d'Ivoire.

India never banned exports of basmati rice in the past but did impose export taxes in 2008.

"We are assuring buyers that there is no possibility of a ban on basmati rice exports but some buyers are afraid due to the government's recent decisions," said another exporter based in New-Delhi.

India banned wheat exports in a surprise move in 2022 and later imposed restrictions on exports of sugar and rice.

Basmati rice is mainly produced in northern states of Punjab, Haryana, Uttar Pradesh, and Himachal Pradesh, which were flooded earlier this year because of extremely heavy rainfall.

But basmati rice growing areas have increased in 2023 and production is likely to be higher than last year, said Vijay Setia, an exporter.

"Many farmers in Uttar Pradesh are shifting to basmati rice from non-basmati because of higher prices," Setia said.

(Reporting by Rajendra Jadhav; editing by Christina Fincher)

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