Penny Stock Zooms Over 9.5% After 10:1 Stock Split; Check Recent Announcements & Financials

Today, shares of OK Play India Ltd gained 9.56 per cent to Rs 14.10 per share from its previous closing of Rs 12.87. The stock is up by 45 per cent from its 52-week low of Rs 9.70 per share. OK Play India is among the penny stocks which have a low debt-to-equity ratio of 0.62 and is currently trading over 35% cheaper from 52W High. The stock recorded a 52-week-high of Rs 21.50 on (23/02/2024) and a 52-week-low of Rs 9.70 on (21/08/2023).

Recently, the company has announced the expansion of its private label and contract manufacturing services and is now catering to a large number of renowned brands. OK Play India Limited has informed the stock market that the company has expanded its private level and contract manufacturing portfolio. OK Play India Limited, a leader in plastic molding and toy manufacturing business, has expanded its private level and contract manufacturing services and is working for many famous brands. At the private level, OK Play India has names like Amazon, Kmart, First Cry, Hamless, Little Tax.

Earlier, the company announced its fourth-quarter results for the financial year 2023-24. In the quarter ending March 31, 2024, the small-cap company reported a total revenue of Rs 56.7 crore as against Rs 36.5 crore reported in the quarter ended March 31, 2023. The company's revenue stood at Rs 36.2 crore in the previous quarter of the current financial year. The company reported Rs 48.38 crore in revenue from operations, which was Rs 33.36 crore in the previous quarter and Rs 39.45 crore in the fourth quarter of the last financial year. The profit before tax of OK Play India Limited was Rs 7.68 crore in the fourth quarter of the last financial year, which was about Rs 9 lakh in the previous quarter and Rs 10.08 crore in the third quarter of the last financial year.

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 2.05 to Rs 14.10 per share, the stock gave multibagger returns of over 580 per cent in 3 years.

OK Play India, established in 1989, is a company dedicated to the production of plastic molded toys, school furniture, outdoor play equipment, point-of-purchase products, automotive components, and electric vehicles. The company is also engaged in manufacturing plastic fuel tanks for heavy commercial vehicles.