Multibagger Stock Hits Upper Circuit 4th Time In A Row After 1:10 Stock Split Declaration: Do You Own?

During the morning making trades on Monday, OK Play India Ltd.'s shares locked in a 10% upper circuit limit at Rs 149.05, having begun the day at Rs 142.90 apiece. For the fourth consecutive day, the stock was observed trading at the upper circuit level, recording a 20% gain during this time.

Following the release of the Q2 2023 results and the announcement of the 1:10 stock split, the share price of OK Play India has been rising. It is among the multibagger stocks Dalal Street provided on a year-to-date period.

The company's revenue from operations on a stand-alone basis climbed by 2.43% to Rs. 29.53 crore in the September 2023 quarter from Rs. 28.83 crore in the September 2022 quarter. In Q2FY24, it reported a net profit of Rs. 0.54 crore, up from a net loss of Rs. 1.30 Cr. in Q2FY23.

The company's consolidated revenue from operations was Rs 40.31 Cr in Q2FY24, up 0.55% YoY from Rs 40.09 Cr in Q2FY23. EBITDA climbed sharply to Rs. 8.03 crores in Q2FY24, up 17.38% YoY. With a 283 bps increase, the EBITDA margin shot up from 17.03% in Q2FY23 to 19.86%.

The company had a positive PAT of Rs. 0.42 crores in Q2FY24 whereas PAT Margin was 1.03%.

The board of directors has approved the subdivision or stock split of Ok Play India Ltd.'s equity shares at a ratio of 1:10. The Board of Directors has approved the division or split of the company's equity shares, according to the company's BSE filing. Therefore, for every one equity share with a nominal or face value of Rs. 10/-, the company will issue ten equity shares with a nominal or face value of Rs. 1/- each.

The largest producer of plastic moulded toys, amusement stations, playground apparatus, and kid-friendly furniture in India is OK Play.