10:1 stock split & 1,000 per cent multibagger returns: Micro-cap stock hit upper circuit & 52-week high after new updates on partnership with MANN+HUMMEL
The stock gave multibagger returns of over 200 per cent from its 52-week low is Rs 63.85 per share.
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.
On February 15, 2023, in New Delhi, a symposium titled "Air Pollution-its Causes, Effects, Prevention, and Cure" convened senior government officials, industry leaders, NGOs, and academic experts to discuss solutions for this persistent issue. Organized by OK Play India Limited, MANN+HUMMEL, and supported by The Indo-German Chamber of Commerce, the event featured renowned delegates like Justice Swatanter Kumar, Shri Tarun Kapoor (advisor to PM Modi), and Dr Hendrik Selle, highlighting the urgency of action and showcasing innovative solutions like mobile air purifiers and green spaces.
A symposium on air pollution in India highlighted its severity and potential solutions. Justice Swatanter Kumar emphasized its global urgency, while PM advisor Tarun Kapoor stressed India's electric vehicle push. Experts like Dr. Gopi Chand Khilnani (lung health) and Dr. Hendrik Selle (German Embassy) spoke on its health impacts and international cooperation. The World Health Organization and MANN+HUMMEL (filtration company) presented alarming statistics and innovative solutions like mobile air purifiers and dust filter boxes. OK Play India partnered with MANN+HUMMEL to introduce these technologies. Mr Sudeesh Karimbingal of MANN+HUMMEL and Shri Rajan Handa of OK Play emphasized the need for collective action from government, businesses, and individuals. Mr. Pankaj Agarwal of CPCB highlighted government initiatives like the National Clean Air Programme. The symposium aimed to ignite a movement for cleaner air in India.
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Today, shares of OK Play India Ltd gained 5 per cent upper circuit to Rs 193.20 per share from its previous closing of Rs 184. The stock gave multibagger returns of over 200 per cent from its 52-week low is Rs 63.85 per share.
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 9MFY23, reported 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. The company has not fixed the record date for the stock split yet.
OK Play India boasts a market cap exceeding Rs 550 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 200 per cent in just 1 year and a whopping 1,000 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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