Multibagger Penny Stock Under Rs 20 Surges Over 50 Per Cent From Its 52-Week Low; Board Allots Equity Shares On Conversion Of Warrants To Promoters
From Rs 3.57 to Rs 15.30 per share, the stock gave multibagger returns of over 300 per cent in 3 years.
OK Play India Limited announces the allotment of 80 lakh equity shares under the conversion of 4 crore warrants, as approved by the Board at its meeting on September 19, 2024. This allotment follows the Special Resolution passed by members at the Extra Ordinary General Meeting on March 25, 2023, and the In-Principle approval granted by BSE Limited on March 31, 2023. Equity shares were allotted to specified investors and promoters, Rishab Handa and Raghav Handa, on a preferential basis at an issue price of Rs 6.021 per share, including a premium of Rs 5.021 per share. The allotment is in compliance with SEBI regulations and reflects the company's share split effective March 11, 2024.
Today, shares of OK Play India Ltd gained 3.30 per cent to an intraday high of Rs 15.30 per share from its previous closing of Rs 14.80. The stock is up over 50 per cent from its 52-week low of Rs 10 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 company reported net sales of Rs 24.77 crore and net profit of Rs 0.82 crore in Q1FY25 compared to net sales of Rs 33.80 crore and net profit of Rs 0.85 crore in Q1FY24. According to annual results, 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 company reported net sales of Rs 39.81 crore in Q1FY25 compared to net sales of Rs 43.25 crore in Q1FY24. The company reported a net profit of Rs 0.87 crore in Q1FY25 compared to a net profit of Rs 0.36 crore in Q1FY24, an increase of 142 per cent. According to annual results, 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.
As of June 2024, the company reduced their debt to Rs 81.60 crore. 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 3.57 to Rs 15.30 per share, the stock gave multibagger returns of over 300 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.