Penny Stock Under Rs 20 Hit Upper Circuit As Board Is Likely To Raise Funds Through Preferential Issue, Private Placements or Any Other Methods
From Rs 2.89 to Rs 18.38 per share, the stock gave multibagger returns of over 500 per cent in 3 years and a whopping 950 per cent in 5 years.
On Thursday, shares of OK Play India Ltd hit a 5 per cent upper circuit to Rs 18.38 per share from its previous closing of Rs 17.51 per share. The stock is up by 73 per cent from its 52-week low of Rs 10.62 per share. The company's shares saw a spurt in volume by more than 1.50 times on BSE.
The Board of Directors of the Company will be held on Tuesday, January 14, 2025, inter alia, to consider and approve the proposal for raising funds by way of issue of one or more instruments including equity shares, convertible or Non-Convertible securities of any description or warrants, through preferential issue, private placements or any other methods or combination thereof as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required, including the approval of the shareholders of the Company.
OK Play India Limited is a prominent player in the Indian toy industry, specializing in the manufacturing and distribution of a wide range of products, including toys, playground equipment, and children's furniture. The company has consistently demonstrated a commitment to quality, safety, and innovation, striving to provide engaging and enriching play experiences for children.
OK Play India Limited has recently completed a significant expansion of its Roz Ka Meo, Haryana plant, marking a key milestone in its growth trajectory. This expansion, involving an investment of approximately Rs 46 crore, has significantly increased the plant's production capacity. With new machinery and equipment, the plant can now produce over 300 per cent more toys, playground equipment, and children's furniture than before. This increased capacity will enable OK Play to effectively address the growing demand in the market and enhance its operational efficiency. Furthermore, the company has strategically expanded its business offerings to include private label and contract manufacturing, forging strong partnerships with leading brands like Amazon, Flipkart, and Myntra. These strategic moves position OK Play as a key player in the industry, poised for continued growth and success in the competitive market.
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Consolidated Results - The company reported net sales of Rs 37.94 crore in Q2FY25 compared to net sales of Rs 40.31 crore in Q2FY24. The company reported a net profit of Rs 0.28 crore in Q2FY2 compared to a net profit of Rs 0.41 crore in Q2FY24. In its half-yearly results, the net sales decreased by 7 per cent to Rs 77.75 crore while net profit increased by 50 per cent to Rs 1.15 crore in H1FY25 compared to H1FY24. 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.
The promoters bought 4,80,00,000 shares and increased their stake to 53.86 per cent in October 2024 compared to 47.01 per cent in September 2024. From Rs 2.89 to Rs 18.38 per share, the stock gave multibagger returns of over 500 per cent in 3 years and a whopping 950 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.