Multibagger in just 1 year & FIIs increase stake; Board announces stock split for first time ever!
The stock gave multibagger returns of 325 per cent in just 1 year and over 680 per cent in 3 years.
OK Play India Ltd announced that the Board of Directors of the Company at its board meeting has accorded its approval to sub-divide/split 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 300 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.
Today, shares of OK Play India Ltd hit a 10 per cent upper circuit to Rs 129.60 per share from its previous closing of Rs 117.85 per share. The stock gave multibagger returns of 325 per cent in just 1 year and over 680 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.
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