GRM Overseas Q1 FY27: Growth with a Margin Dip as FY28 Targets Stay Aggressive

Total income was Rs 427.0 crore, EBITDA was Rs 36.0 crore (8.4 percent margin), and PAT was Rs 21.4 crore (5.0 percent margin).

Total income increased 27.7 percent YoY to Rs 427.0 crore from Rs 334.4 crore in Q1 FY26; revenue from operations increased 30.5 percent YoY to Rs 426.5 crore.

The presentation shows FY26 revenue split of 54 percent international business and 46 percent India business; it also cites FY26 revenues of Rs 854 crore (international) and Rs 740 crore (India).

The presentation states targets of Rs 2,000 crore for India business and Rs 1,500 crore for international business by FY28, with an FY28 mix target of 57 percent India and 43 percent international.

The presentation states annual production capacity of 440,800 MT of rice across facilities in Panipat, Nautha (Haryana), and Gandhidham (Gujarat).

The presentation states the international business is about 95 percent private label and 5 percent own brands.

10X Ventures is described as a platform to invest in digital-first D2C and other brands. The presentation states a first-phase plan to invest Rs 200 crore (ticket size Rs 20 to 40 crore) and that GRM acquired a 44 percent stake in the parent company of Rage Coffee as its first investment.