GRM Overseas, an esteemed exporter of basmati rice from India, is ready to make a strong impact in the domestic market as a provider of essential consumer goods. Taking its first steps, the company has introduced a variety of products to the domestic market, including basmati rice, convenient ready-to-eat basmati kits, an assortment of spices, and high-quality wheat flour. Furthermore, GRM Overseas has initiated a pilot project to introduce mustard oil, expanding its product offerings even further. By venturing into these diverse product categories, the company aims to establish a prominent presence and cater to the varying demands of domestic consumers.
Atul Garg, Managing Director of GRM Overseas said “We are using general trade, modern trade, and e-tailers to market our products. Nearly 70 percent of our business comes from general, 25 percent from modern trade, and the rest 5 percent through e-commerce.”
The company has set its sights on tier 2 and tier 3 markets, recognizing the growing demand for branded staples in these regions. With a strategic focus on these markets, GRM Overseas aims to capitalize on the increasing consumer preference for reliable and recognized brands. By targeting tier 2 and tier 3 markets, the company is positioning itself to tap into the emerging opportunities and meet the rising demand for essential consumer goods in these areas.
“We are seeing that the rural demand has picked up in the last five to six months. We are marketing our products in towns which have a five lakh plus population. The farmers, who were earlier inclined to loose rice and wheat flour or atta, are now shifting to branded products and we want to leverage this trend,” said Garg.
GRM Overseas has clocked a net sales of INR 1380 crore in FY 23 as compared to INR 1080 crore in FY 22. “Of the INR 1,380 crore, domestic business has contributed INR 270 crore,” Garg added. He said that the wheat flour or atta segment has huge room to grow in the domestic market. “Progressive women are buying branded atta keeping in mind the convenience and health of the family. This is why we are witnessing a shift to branded atta,” he said.
The company markets its products under several distinctive brands such as “10X,” “Himalaya River,” “10X Shakti,” and “Tanoush.” In addition to these brand offerings, GRM Overseas also engages in private label arrangements, providing products under the brands of its customers. This diverse approach allows the company to cater to a wider range of consumer preferences and expand its market reach through both its own brands and collaborative partnerships with customers.
Originally established as a rice processing and trading house, GRM is now undergoing a significant transformation into a consumer staples organization. While its roots lie in the rice industry, the company is expanding its scope and diversifying its product portfolio to encompass a broader range of essential consumer goods. This strategic evolution allows GRM to adapt to changing market dynamics and position itself as a versatile provider of various household necessities.
In its early years, GRM primarily focused on exporting rice to the Middle East, the United Kingdom, and the United States. As time went on, the company gradually expanded its market presence and successfully established a strong foothold for its rice products in 42 countries. This impressive accomplishment has positioned GRM as the third-largest rice exporter in India. With three rice processing units located in Panipat (Haryana), Naultha (Haryana), and Gandhidham (Gujarat), the company boasts an impressive annual production capacity of 440,800 metric tons. These strategically situated processing units enable GRM to meet the growing demand for its rice products efficiently and maintain its reputation as a leading player in the industry.
Furthermore, GRM Overseas possesses a spacious warehousing facility measuring 175,000 square feet adjacent to its Gandhidham plant. This strategically located facility enables the company to expedite shipments from the nearby Kandla and Mundra ports. With ample storage space, GRM Overseas can efficiently manage inventory and ensure swift transportation of its products, enhancing its logistical capabilities and maintaining a seamless supply chain to meet the demands of both domestic and international markets.