GRM AGM notes – Sept 24

1. Business overview
   a. International segment contributed 77% to revenue
   b. Allotted 90 lakh preferential warrants; fund raise to be used for expansion and scaling up of 10X brand in India
   c. Looking to double the topline of branded business in next 3 years
   d. Debt to equity ratio has decreased from 1.5 to 1.18
   e. Improvement in inventory days from 83 to 60 days

2. Strategic investment in Swmabhan Commerce
   a. Picked up 44% stake in this company which is the parent firm of Rage Coffee (backed by Virat Kohli)
   b. Rage is a digital first coffee brand with presence in mostly online and digital commerce

3. Harbouring Aspirations to transform into a food FMCG company, like Marico or Tata Consumer in the future; this strategic investment is a step in that direction
   a. Actively exploring opportunities for presence in food categories with strong growth
   b. Coffee has synergies with export business of basmati rice as well

4. Salman Khan as brand ambassador
   a. Main markets are primarily Tier II and Tier III markets (esp in Northern belt)
   b. Salman has a strong connect in tier II and tier III markets of UP, Haryana, Rajasthan, etc. Therefore a good brand fit, to connect with the customers.
   c. Hoping for premium of upto 1.5% on pricing with Salman Khan as brand ambassador

5. Exports
   a. Positive outlook in exports
   b. Exporting to 35 countries last year; now around 45 countries
   c. Not targeting bulk exports – but smaller / individual retailers. Adding more sales team in exports. After Govt’s decision on removal of MEP of 950$ per tonne for basmati rice, further augurs well for exporters like GRM
   d. Exports will grow at 10 to 15% CAGR.

6. GRM Foodkraft (wholly owned subsidiary)
   a. 257 cr revenue in FY 24; 65% CAGR from FY 21 to FY 24. Anticipating strong growth to continue in the business.
   b. Will evaluate listing of the business in future, once business scales up to larger extent

If possible can you please explain a bit more about BESS projects.

What is the approx per MW price?
Who puts up the capital?
How does the revenue work? And for how many years would this revenue come in?
What do you mean by Terminal value post 12 years would be 400 crs?

Thanks in advance

So 45 min → 15 min break → 45 min trading → and so on.

Just like what is happening in different angle with jpassociates which is allowed for trading only first day of the week.

DIY Portfolio vs Mutual Fund Post-Tax Returns & Review #stockmarket #momentumstocks #mutualfunds

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