New Delhi, July 1: GRM Overseas Limited (herein referred to as “GRM”) a BSE listed company, India’s 3rd largest basmati rice exporter, a growing consumer staples player after a successful launch of “10X Ready-to-Cook Biryani” category in December 2021 has further strengthened its product portfolio by introducing two more Biryani flavours Awadhi Biryani Kit and Lucknowi Biryani Kit to its existing portfolio of Biryani Kits.
Biryani is known to be a royal-delicacies and is a real treat to enjoy on special occasions. With the introduction of Biryani kits under the Ready to Cook category, GRM has enhanced its presence in the ever-growing demand for Biryani by providing traditional and authentic taste to its customers. GRM’s Biryani Kits contain high-quality owned basmati rice with an authentic biryani masala paste made with secret ingredients and aromatic whole spices, all ready to be cooked with convenience to perfection.
According to a study by FICCI and PwC in 2018, the Biryani industry has a market size of about Rs. 280 bn and is growing consistently in India. Out of this, the organised biryani segment has a size of Rs. 30 bn (~11% share) providing enough growth potential for the company. The product appeals to the urban millennials for its convenience and taste which makes it a great choice for social gatherings due to its universal appeal.
Sharing his views on this important development, Mr. Atul Garg, Managing Director, said: “We are delighted to introduce new flavours under our Biryani Kit portfolio which have enlarged our space in the fast-growing packaged food industry domestically. Our focus has been to reach a wide consumer base with a varied range of products to strengthen our 10X brand. We are confident to gain strong momentum going forward in the Ready-to-Cook Biryani Kit segment, as peoples’ liking has been changing consistently along with the growing urbanisation and increasing percentage of working women pushing the need of these Ready-to-Cook products.”
GRM overseas incorporated GRM Food Kraft in India in FY21 to launch its flagship domestic brand “10X”. GRM Food Kraft through its brand 10X intends to provide Indian consumers with a basket of the highest quality food staples. Portfolio of “10X” entails varieties of Basmati Rice, Mixed Spices, Flour and ready-to-cook Biryani Kit.
We have plans to unveil higher-margin products in coming quarters under our 10X brand which will further strengthen our presence in both the general and modern trade. Being one of the leading basmati rice exporters, the company has transformed itself into a major consumer staples player with a focus on improving its brand visibility and aiming to create India’s largest and trusted standalone consumer staples brand.” Added Mr. Garg.
From its humble inception in 1974 to redefining itself in the form of GRM, the Company has travelled a long way since then. Initially set up as a rice processing and trading house, it is growing to become a consumer staples organisation. During the initial years, GRM exported rice to the Middle East, the United Kingdom, and the United States. Gradually expanding its reach, GRM has developed a market for its rice in more than 38 countries, thereby achieving the title of the 3rd leading Rice Exporter in India. GRM has three rice processing units with an overall annual production capacity of 4,40,800 MT-based out of Panipat (Haryana), Naultha (Haryana) and Gandhidham (Gujarat). Additionally, the Company has a warehousing facility of 1.75 Lakhs sq. ft space adjacent to the Gandhidham plant facilitating speedy shipments from Kandla and Mundra ports.
GRM sells products under its brands, namely “10X”, “Himalaya River” & “Tanoush,” and also sells through private label arrangements under customers’ brands. GRM has endeavoured to reach consumers directly with its brands and products in recent years. By placing its products on the shelves of several major retailers in India and abroad, GRM has ensured that the end consumer always has easy access to its high-quality products. The Company aims to deliver the best quality products to customers with stringent and proactive quality control procedures in place, according to international requirements.
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