Multibagger penny stock below Rs 15 zooms over 7 per cent in just 1 day; Earlier company entered into private label and contract manufacturing; details inside!

From Rs 2.22 to Rs 13.50 per share, the stock gave multibagger returns of over 500 per cent in 3 years.

Today, shares of OK Play India Ltd gained 7.83 per cent to Rs 13.50 per share from its previous closing of Rs 12.52. The stock is up by 39.2 per cent from its 52-week low of Rs 9.70 per share.

OK Play India Ltd., a longstanding leader in plastic moulding and toy manufacturing, has broadened its horizons to serve a more diverse clientele. In addition to their own established brand of toys and play equipment, they now offer private label and contract manufacturing solutions. This strategic move allows them to partner with renowned brands, further solidifying their position as an industry leader.

Building strong brand partnerships is a cornerstone of OK Play's strategy. They recognize the importance of brand reputation and take pride in collaborating with leading names across various product segments. Their impressive list of clients includes major e-commerce platforms like Amazon, Flipkart, and Myntra, alongside established toy stores like Hamleys and First Cry. These partnerships are a testament to OK Play's commitment to delivering consistently high-quality and safe products. Their offerings meet the most stringent safety and durability standards, ensuring a positive experience for both partner brands and end consumers.

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Standalone Results - The net sales increased by 22.6 per cent to Rs 48.38 crore in Q4FY24 compared to Q4FY23. The net profit increased by 185.9 per cent to Rs 4.26 crore in Q4FY24 compared to a net loss of Rs 4.96 crore. The net sales increased by 9.2 per cent to Rs 145.08 crore in FY24 compared to FY23. The net profit increased by 257.2 per cent to Rs 5.74 crore compared to a net loss of Rs 3.90 crore in FY23.

Consolidated Results - The net sales increased by 12.8 per cent to Rs 60.08 crore in Q4FY24 compared to Q4FY23. The company reported a net loss of Rs 0.71 crore in Q4FY24 while it reported a net loss of Rs 2.03 crore in Q4FY23. The net sales increased by 1.2 per cent to Rs 184.56 crore in FY24 compared to FY23. The net profit increased by 157.8 per cent to Rs 1.13 crore in FY24 compared to a net loss of Rs 1.96 crore in FY23.

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. From Rs 2.22 to Rs 13.50 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.