GRM Overseas subsidiary GRM Foodkraft ties with Walmart India; Stock soars 5%

Starting April 2021 its products will be available in Walmart stores across Tier 1 and Tier 2 cities.

Apr 07, 2021 02:04 IST India Infoline News Service

Men shaking hands
GRM Overseas Limited, has announced that its subsidiary GRM Foodkraft Pvt. Ltd has entered into an agreement with Walmart to place its Products in Walmart stores.

Starting April 2021 its Products will be available in Walmart stores across Tier 1 and Tier 2 cities.

In addition, the partnership with Walmart will further strengthen GRM presence in domestic market and is expected to drive the top line growth and market share in the coming years. This is an important breakthrough for GRM since Walmart has very stringent pre-qualification requirements for approval of its suppliers / vendors for purchasing any Products.

In order to get vendor approval from Walmart, the Products must demonstrate the requisite quality and safety standard and must be in compliance with domestic requirements and regulations.

GRM’s association with Walmart is a testament to Company’s strong customer relationship as well as effective marketing capabilities in domestic as well as export market. Further, GRM strive towards more wins like these with top grocery retailers / chains in the domestic and international markets in future.

Going forward, GRM will continue to focus on diversifying from private label basmati rice offerings to high margin own brands, specialized and value-added Products, and adding value through Products differentiation. Taking the momentum forward with a clear strategy in mind, GRM is poised to enter into a new era of growth and to create maximum value for all our stakeholders.

At around 2:25 PM, GRM Overseas was currently trading at Rs1,950.90 per piece up by Rs92.9 or 5% from its previous closing of Rs1,858 per piece on the BSE.

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