1:10 stock split & 520 per cent returns in this multibagger penny stock; Company reports a 257.2 per cent jump in net profit to Rs 5.74 crore

From Rs 2.27 to Rs 14.08 per share, the stock gave multibagger returns of over 500 per cent in 3 years.

On Tuesday, shares of OK Play India Ltd plunged 1.26 per cent to Rs 14.08 per share from its previous closing of Rs 14.26 with an intraday high of Rs 14.45 and an intraday low of Rs 13.91. The stock is up by 50.6 per cent from its 52-week low of Rs 9.35 per share.

Standalone Results - The company's financial performance for FY24 showed significant improvement both in quarterly and annual results. In Q4FY24, net sales climbed 22.6 per cent to Rs 48.38 crore, compared to Q4FY23, and net profit achieved a remarkable turnaround, surging 185.9 per cent to Rs 4.26 crore, reversing a net loss of Rs 4.96 crore in the previous year's corresponding quarter. Looking at the annual results, the positive trend continued, with net sales for FY24 reaching Rs 145.08 crore, reflecting a 9.2 per cent increase over FY23. Net profit also witnessed a substantial improvement, rising by 257.2 per cent to Rs 5.74 crore compared to a net loss of Rs 3.90 crore in FY23.

Consolidated Results - Looking at the company's financial performance, there was a positive trend in both quarterly and annual results. In Q4FY24, net sales increased by 12.8 per cent to Rs 60.08 crore compared to Rs 42.63 crore in Q4FY23. There was also a slight improvement in net loss, going from Rs 2.03 crore in Q4FY23 to Rs 0.71 crore in Q4FY24. For the annual results, net sales increased by 1.2 per cent to Rs 184.56 crore in FY24 compared to Rs 182.39 crore in FY23. Even more encouraging, the company turned a net loss of Rs 1.96 crore in FY23 into a net profit of Rs 1.13 crore in FY24, reflecting a significant 157.8 per cent increase.

Also Read: Role of artificial intelligence (AI) in stock market analysis

Earlier, the shares of the company ex-traded stock split of equity, such that 1 equity share having a face value of Rs 10 each, fully paid-up, will be sub-divided into 10 equity shares having a face value of Rs 1 each, fully paid-up, ranking pari-passu in all respects. The ex-date for the stock split was Monday, March 11, 2024.

OK Play India boasts a market cap exceeding Rs 400 crore. OK Play India Ltd is a leading manufacturer of plastic moulded products in India, with two business segments: Toys and Automotive Components. The company's products are exported to over 60 countries around the world, and OK Play is a major player in the Indian toy industry. From Rs 2.27 to Rs 14.08 per share, the stock gave multibagger returns of over 500 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.