1:10 stock split & 257 per cent jump in net profit: Multibagger penny stock under Rs 20 in green as the company reports a turnaround story!

From Rs 2.21 to Rs 15.95 per share, the stock gave multibagger returns of 622 per cent in 3 years.

Today, shares of OK Play India Ltd gained 4.38 per cent to an intraday high of Rs 15.95 per share from its previous closing of Rs 15.28. The stock is up by 91 per cent from its 52-week low of Rs 8.34 per share.

The sudden rise in the stock price was due to the company reporting a turnaround story in its Quarterly Results and annual results. Here are the details:

Standalone Results

Quarterly 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 in Q4FY23.

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 in FY24 compared to a net loss of Rs 3.90 crore in FY23.

Consolidated Results

Quarterly 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.

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.

Also Read: Understanding Cash Flow: Essential Types You Need to Know

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.

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. From Rs 2.21 to Rs 15.95 per share, the stock gave multibagger returns of 622 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.