GRM OVERSEAS LTD (GRMOVER): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹92.24 latest close · −6.6% over the last 90 sessions

₹92.24 month-end · −41.1% over 12 months

₹92.24 month-end · +46.6% over 3 years

₹92.24 month-end · −29.9% since Sep '22

52-week range ₹77.00 to ₹185.45 · 1-year volatility 46.1%

Was the rally earned?

1 year3 years

-41%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 10 points, but investors now pay less per rupee of profit (P/E 45.5x to 23.7x), which took 51 points back.
The share count rose 10%.

Net profit growth+17 ptsNet profit rose about 24%, which lifts the price.

P/E change-51 ptsThe P/E fell from 45.5x to 23.7x, which lowers the price.

Share count change-7 ptsShare count rose 10%, which lowers the price.

+47%share price, 3 yearsMultiple-driven

Partly.

Most of the rise came from investors paying a higher multiple (P/E 18.1x to 23.7x); per-share earnings added 14 points.
The share count rose 9%.

Net profit growth+24 ptsNet profit rose about 22%, which lifts the price.

P/E change+33 ptsThe P/E rose from 18.1x to 23.7x, which lifts the price.

Share count change-11 ptsShare count rose 9%, which lowers the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with PATANJALI FOODS

How rough has the ride been?

Maximum drawdown-75.5%recovered 2025-11

1-year volatility46.1%annualised

Beta vs sector index0.963-year daily, correlation 0.35

Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-75.5% (2022-09 peak to 2024-03 low, recovered 2025-11)

-54.5% (2026-01 peak to 2026-10 low, not yet recovered)

Most recent volume spikes

2026-10-12: 7.1x the 50-day median, price +9.9% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

23.6xP/E todayWithin its usual range

Against its own history57th percentile

CheapestMedian 22.9xDearest

Usual range 14.5x to 41.3x since 2022-09.

Against Process Industries23.6x vs 18.1x

This company

23.6x

Sector median

18.1x

31% above the Process Industries median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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P/B (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE62ndflat vs a year ago
Op. margin34thflat vs a year ago
Revenue growth93rd▲ 76 pts vs a year ago
EPS growth54thflat vs a year ago
Debt/equity ↓34th▲ 12 pts vs a year ago
Cash cycle ↓19th▲ 4 pts vs a year ago
P/E ↓37th▲ 17 pts vs a year ago
12M momentum8th▼ 91 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~19%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 26.5x, a holder earning 12%/yr needs earnings to grow about 18.5%/yr for 10 years, then trade at 15x.

Delivered30.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap−11.9 ptsimplied minus delivered

Rank723rdmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	20.1%	21.2%	22.3%
15x	17.5%	18.5%	19.6%
20x	14.2%	15.2%	16.2%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 18.5%/yr

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹92.24
P/E: 23.7x
ROCE: 14.0%
Market Cap: ₹1911 cr
Revenue (TTM): ₹1869 cr
P/S: 1.0x
P/B: 3.2x
ROE: 13.4%
Operating Margin: 8.0%
Debt / Equity: 0.6x
Promoter Holding: 63.1%
12M Momentum: -41.1%

52-week range

₹77.00₹185.45

14% of the way from its 52-week low to its high

Price risk

1Y volatility

46.1%

Beta vs sector

1-year daily

0.58

Balance sheet & cash

Interest cover

operating profit ÷ interest

5.8x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.28x

low

Share count, 1Y

+200.0%

Are profits backed by cash?

4 of 7checks within range1 beyond a threshold

Other income reliance29%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 28.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 26.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.28xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.28x (cash from operations ₹55 cr, net profit ₹196 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-11 daysWithin range

Debtor days are below the median of the previous three fiscal years by 11 days (119 vs 130). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+1 days / 2 yrsWithin range

Days payable changed by +1 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, promoters trimmed 8.7 pts; FIIs added 7.3 pts; DIIs added 2.9 pts.
The number of shareholders rose from 26,016 to 29,061 (+12%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters71.7%63.1%-8.7 pts

FIIs0.0%7.3%+7.3 pts

DIIs0.0%2.9%+2.9 pts

Public and others28.3%26.8%-1.5 pts

Number of shareholders

29,061shareholders+12% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−3.8%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like GRM OVERSEAS LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −24% to +29% vs the market, against −4% for all non-financial companies in the same months.
The gap against the base rate (−0.1%, 80% range −4.5% to +5.6%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months

Similar setups' median

−3.8%

All companies' median

−3.7%

Beat the market

46% vs 46%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
CONFIPET Retail Trade	Jan 2024	30x	13%	+16%	−16%	−26%
TEXRAIL Producer Manufacturing	Jul 2025	24x	14%	−45%	−47%	−28%
STERTOOLS Producer Manufacturing	Feb 2024	27x	13%	+5%	−21%	−1%
ANNAPURNA Consumer Non-Durables	Aug 2025	25x	13%	−48%	−49%	−45%
REMSONSIND Producer Manufacturing	Sep 2025	27x	14%	−46%	−47%	−5%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
CAMLINFINE Process Industries	May 2022	32x	13%	−33%	−48%	+31%
DMCC Process Industries	May 2023	29x	15%	−36%	−44%	−9%
GNA Producer Manufacturing	Sep 2022	15x	17%	−32%	−41%	+27%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: ROCE, drawdown from 12-month high and 12-month momentum. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to GRM OVERSEAS LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

RAJRATAN GLOBAL WIRERAJRATAN

Producer Manufacturing

77%similar

revenue growthmarket cap

S.P. APPARELSSPAL

Consumer Non-Durables

73%similar

ROCEpromoter holding

ALICON CASTALLOYALICON

Producer Manufacturing

67%similar

revenuedebt/equity

GULSHAN POLYOLSGULPOLY

Consumer Non-Durables

67%similar

operating marginP/E

HARIOM PIPE INDUSTRIESHARIOMPIPE

Non-Energy Minerals

66%similar

debt/equityrevenue

HUHTAMAKI INDIAHUHTAMAKI

Process Industries

65%similar

debt/equitymarket cap

S H KELKAR AND COMPANYSHK

Process Industries

63%similar

market capvolatility

MAGADH SUGAR & ENERGYMAGADSUGAR

Process Industries

62%similar

EPS growthpromoter holding

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Mar '24

2026
OctPriceFell 54% from the Jan 2026 peak to the Oct 2026 low.
OctPriceVolume reached 7.1x its 50-day median on 2026-10-12; price +9.9% that day.
SepInstitutionsFII + DII holding rose 3.6 pts over 2 quarters to 10.2%.
JunPromoterPromoter holding fell 5.8 pts to 62.5% (largest drop in the history since 2019-01).
JunResultsRevenue (TTM) reached a new high of ₹1,769 cr.
JunPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
JunSharesShare count is up 200.0% over 12 months.
JunPriceVolume reached 13.0x its 50-day median on 2026-06-09; price -19.2% that day.

Show 22 earlier events

2026
AprValuationP/E crossed above the 90th percentile of its own history to date (41.3x).
MarPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
2025
DecPromoterPromoter holding fell 2.7 pts to 68.2% (largest drop in the history since 2019-01).
DecInstitutionsFII + DII holding rose 4.2 pts over 2 quarters to 5.2%.
NovPriceRegained the 2022-09 peak, 20 months after the low.
NovPriceVolume reached 5.0x its 50-day median on 2025-11-14; price +6.8% that day.
SepPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
JunResultsYear-on-year EPS growth turned positive.
JunPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the bottom quartile).
JunDebtDebt / equity fell below 1.0x (0.85x).
AprValuationP/E crossed above the 90th percentile of its own history to date (30.6x).
MarResultsYear-on-year EPS growth turned negative.
JanPriceVolume reached 16.8x its 50-day median on 2025-01-13; price +8.2% that day.
2024
DecResultsYear-on-year EPS growth turned positive.
DecPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
DecPriceVolume reached 11.4x its 50-day median on 2024-12-30; price +8.4% that day.
JulPriceVolume reached 18.7x its 50-day median on 2024-07-09; price +3.5% that day.
JunPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
JunDividendDividend payout cut from 4% to 0% of profit.
JunPriceVolume reached 28.3x its 50-day median on 2024-06-13; price +15.1% that day.
MarPriceFell 76% from the Sep 2022 peak to the Mar 2024 low.
MarPriceVolume reached 7.8x its 50-day median on 2024-03-13; price -10.5% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history51 months · 2022-09 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	23.7x	₹1869 cr	13.4%	14.0%	0.6x
2026-10	23.2x	₹1869 cr	13.4%	14.0%	0.6x
2026-09	20.2x	₹1869 cr	13.4%	14.0%	0.6x
2026-08	22.1x	₹1769 cr	13.1%	14.0%	0.6x
2026-07	22.9x	₹1769 cr	13.1%	14.0%	0.6x
2026-06	23.1x	₹1769 cr	13.1%	14.0%	0.6x
2026-05	39.8x	₹1463 cr	18.0%	14.0%	0.9x
2026-04	41.3x	₹1463 cr	18.0%	14.0%	0.9x
2026-03	38.0x	₹1463 cr	18.0%	14.0%	0.9x
2026-02	43.1x	₹1351 cr	16.8%	14.0%	0.9x
2026-01	44.2x	₹1351 cr	16.8%	14.0%	0.9x
2025-12	43.7x	₹1351 cr	16.8%	14.0%	0.9x
2025-11	45.5x	₹1304 cr	15.3%	14.0%	0.9x
2025-10	41.7x	₹1304 cr	15.3%	14.0%	0.9x
2025-09	34.8x	₹1304 cr	15.3%	14.0%	0.9x
2025-08	35.9x	₹1347 cr	15.0%	14.0%	0.9x
2025-07	36.4x	₹1347 cr	15.0%	14.0%	0.9x
2025-06	35.5x	₹1347 cr	15.0%	14.0%	0.9x
2025-05	29.2x	₹1462 cr	19.7%	14.0%	1.2x
2025-04	30.6x	₹1462 cr	19.7%	14.0%	1.2x
2025-03	25.8x	₹1462 cr	19.7%	14.0%	1.2x
2025-02	20.6x	₹1473 cr	20.0%	14.0%	1.2x
2025-01	22.3x	₹1473 cr	20.0%	14.0%	1.2x
2024-12	18.9x	₹1473 cr	20.0%	14.0%	1.2x
2024-11	20.1x	₹1362 cr	19.3%	14.0%	1.2x
2024-10	21.7x	₹1362 cr	19.3%	14.0%	1.2x
2024-09	24.9x	₹1362 cr	19.3%	14.0%	1.2x
2024-08	26.1x	₹1312 cr	19.0%	14.0%	1.2x
2024-07	20.6x	₹1312 cr	19.0%	14.0%	1.2x
2024-06	17.9x	₹1312 cr	19.0%	14.0%	1.2x
2024-05	13.2x	₹1379 cr	24.1%	17.0%	1.5x
2024-04	14.3x	₹1379 cr	24.1%	17.0%	1.5x
2024-03	11.4x	₹1379 cr	24.1%	17.0%	1.5x
2024-02	17.6x	₹1379 cr	24.1%	17.0%	1.5x
2024-01	19.5x	₹1379 cr	24.1%	17.0%	1.5x
2023-12	18.1x	₹1379 cr	24.1%	17.0%	1.5x
2023-11	18.1x	₹1379 cr	24.1%	17.0%	1.5x
2023-10	19.2x	₹1379 cr	24.1%	17.0%	1.5x
2023-09	19.2x	₹1379 cr	24.1%	17.0%	1.5x
2023-08	17.5x	₹1379 cr	24.1%	17.0%	1.5x
2023-07	16.3x	₹1379 cr	24.1%	17.0%	1.5x
2023-06	16.4x	₹1379 cr	24.1%	17.0%	1.5x
2023-05	12.0x	₹1134 cr	43.3%	29.0%	1.6x
2023-04	14.5x	₹1134 cr	43.3%	29.0%	1.6x
2023-03	13.1x	₹1134 cr	43.3%	29.0%	1.6x
2023-02	22.4x	₹1134 cr	43.3%	29.0%	1.6x
2023-01	25.0x	₹1134 cr	43.3%	29.0%	1.6x
2022-12	30.9x	₹1134 cr	43.3%	29.0%	1.6x
2022-11	26.3x	₹1134 cr	43.3%	29.0%	1.6x
2022-10	26.5x	₹1134 cr	43.3%	29.0%	1.6x
2022-09	28.2x	₹1134 cr	43.3%	29.0%	1.6x

Methodology and data notes