860 per cent returns & FIIs increase stake: This multibagger micro-cap company enters into an agreement with MANN+HUMMEL Filter Pvt Ltd – details inside!

The stock gave multibagger returns of 400 per cent in just 1 year and a whopping 860 per cent in 3 years.

OK Play India Limited, through its recently acquired wholly owned subsidiary, MRH Technologies Private Limited, has entered into an agreement with MANN+HUMMEL Filter Private Limited (MHIN), a subsidiary of the MANN+HUMMEL Group, Germany to act as its sole and exclusive distributor to promote, distribute, supply, install and service its revolutionary new product- “Pure Air Mobile Fine Dust Particle Filter Roof Box designed to combat the life-threatening, hazardous menace of air pollution.

MANN+HUMMEL is a Euro 4.8 billion German MNC having operations in over 80 countries and has been present in India for the last 18 years. Leveraging their advanced filtration techniques and state-of-the-art technology, MANN+HUMMEL has developed a dependable and potent product in combating fine dust pollution by efficiently capturing hazardous fine dust particles, including PM2.5 and PM10, from ambient air. The same has been successfully productionised and tested. The product has been designed to be mounted on vehicles as well as on stationary locations.

Earlier, the Board of Directors of the Company had approved sub-divide/split of the equity shares of the company, i.e., division of every 1 equity share of the nominal/face value of Rs 10 each into 10 equity shares of the nominal/face value of Rs 1 each. The company has not fixed the record date for the stock split yet.

Talking about the financials, the company has a market cap of over Rs 390 crore. According to Quarterly Results, the company reported a turnaround story wherein the company reported a net profit of Rs 0.42 crore in Q1FY24 compared to a net loss of Rs 1.42 crore in Q1FY23 and net sales increased by 0.55 per cent to Rs 40.31 crore in Q1FY24 compared to the same quarter last year. According to half-yearly results, the company also reported a turnaround story wherein the company reported a net profit of Rs 0.78 crore in Q1FY24 compared to a net loss of Rs 4.42 crore in Q1FY23 and net sales increased by 3 per cent to Rs 83.56 crore in H1FY24 compared to last year.

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. The company has a market cap of Rs 312 crore. In the September quarter 2023, FIIs have increased their stakes from 13.51 per cent to 19.64 per cent.

On Friday, shares of OK Play India Ltd plunged 1.68 per cent to Rs 149.05 per share with an intraday high of Rs 155.5 and an intraday low of Rs 146.4. The stock gave multibagger returns of 400 per cent in just 1 year and a whopping 860 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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