With FPI Stake of 18.14% Penny Stock Under Rs 15 Zooms 5% Intraday; Here’s Why

On Thursday, shares of toy-making company Ok Play Ltd locked in 5 per cent to an intraday high of Rs 18.38 per share from its previous closing of Rs 17.51 per share. The stock's 52-week high is Rs 21.50 and its 52-week low is Rs 10.62. The company has a market cap of over Rs 648 crore with multibagger returns of over 994 per cent in 5 years.

This followed the release of the Q2 results by the toy manufacturing company on Monday. In the quarter that ended in September 2024, OK Play India's net profit dropped 31.71% to Rs 0.28 crore from Rs 0.41 crore in the quarter that ended in September 2023. Compared to the year-ago quarter, which ended in September 2023, when sales were Rs 40.31 crore, sales in the quarter ending in September 2024 fell 5.88% to Rs 37.94 crore.

In the Filing, it is mentioned that "the board of directors of Bharatiya Nidhi Leasings Ltd. has permitted the tenure expansion to CLO Management Corp and issuance of Optionally Convertible Equity Shares (equity shares allotted on terms of conversion of warrants) to a professional private placement vehicle 'Allottee' in seventh tranche sponsorship allotment at face value of Rs 6.021 per equity share per share. This was also another tactical operational move of the company within its capital management strategies."

Besides this, OK Play India Ltd also provided its Q1 FY 2024-25 results. On the year-on-year depiction, net profit figures rose to an astonishing growth of 140 per cent. The company made a net profit of Rs 0.87 crore for the said quarter as compared to Rs 0.36 crore for the previous year's quarter.

This year, as August came to a close, the scheduled split of stock occurred on 11/03/2024. Company stocks of the current nominative face value of Rs 10 are dematerialised/split into 10X n shares of Rs 1 each.

As a manufacturer of plastic moulded components and toys, they also took up private label and contract manufacturing. This made sense in terms of the company's strategy as the company's brand equity continues to be developed within the market as it collaborates with renowned brands. These strategies have seen OK Play India Limited not only dip its toes into new waters but also develop facets of the business model which seek to take advantage of the new markets in future.