Stock split from Rs 10 to Rs 1 and 900 per cent multibagger returns: This micro-cap company reports a 2,558 per cent jump in net profit in 9MFY24
The stock gave multibagger returns of 190 per cent in just 1 year and a whopping 900 per cent in 3 years.
Today, shares of OK Play India Ltd gained 1.45 per cent to Rs 174.90 per share from its previous closing of Rs 172.4. The stock is down by 5.36 per cent from its 52-week high is Rs 184.80 and gave multibagger returns of over 200 per cent from its 52-week low is Rs 56.
The company announced positive Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the fiscal year 2023 – 2024. According to quarterly results, net sales increased by 1.55 per cent to Rs 40.93 per cent and net profit skyrocketed by 169.2 per cent to Rs 1.75 crore in Q3FY24 over Q2FY24. In its nine-month results, the company reported net sales of Rs 124.48 crore in 9MFY24 and in 9MFY23, reported a net sales of Rs 128.19 crore. The net profit skyrocketed by 2,558 per cent to Rs 1.85 crore in 9MFY24 over 9MFY23.
Additionally, the Board of Directors of the company had approved a stock split where each existing share with a face value of Rs 10 will be divided into 10 shares with a face value of Rs 1, essentially increasing the number of shares outstanding while maintaining the company's overall value. The authorized share capital of the company is Rs 40,00,00,000 consisting of 40 crore equity shares of Rs 1 each.
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Furthermore, OK Play India has joined forces with MANN+HUMMEL, a global leader in filtration technology, to tackle India's air pollution crisis. This strategic partnership aims to improve air quality and benefit the health of millions of people through the distribution and installation of MANN+HUMMEL's cutting-edge Pure Air Mobile Fine Dust Particle Filter Roof Box. This innovative solution helps combat air pollution by capturing harmful fine dust particles from the air before they enter enclosed spaces. The filter's effectiveness is expected to significantly improve indoor air quality, particularly in areas with high levels of air pollution.
OK Play India boasts a market cap exceeding Rs 490 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.
The stock gave multibagger returns of 190 per cent in just 1 year and a whopping 900 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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