GRM Overses Limited :531449 : Buy at CMP of 52-53 : A fast growing rice exporter availaible at very attractive levels Target price 100+

GRM Overseas is a Panipat based rice exporter established as Garg Rice Mill is a major exporter of rice to gulf countries apart from local supply.

It has achieved at top line growth of over 50% in FY-2013-14 and expected to achieve growth of 25% in FY-14-15 with expected EPS of Rs 14.Share is available at cheap PE multiple of 3.6.

Promoter's hold approx. 74% with mutual funds and HNI holding approx. 16% balance 10% is with public. Company has excellent dividend paying record of 20%.

Investors can buy this undervalued company at current levels I feel company deserves better valuation and should touch 3 figure mark in one year looking at low PE and high growth

One should Buy immediately at current levels.

Good luck