Penny stock OK Play hits upper circuit after Q2 results 2024- 25. Do you own?

Stock Market Today: Penny stock OK Play India Ltd share price gained close to 5% in the morning trades on Tuesday, hitting the upper circuit limit after Q2 results that were declared on Monday post market hours

OK Play India Ltd share price that opened at ₹11.25 on the BSE on Tuesday, more than 2% higher than the previous close of RS 10.99,. Ok Play share price however gained further to intraday high of ₹11.53 marking gains of close to 5% , which also happens to be the upper band limit of OK Play share price.

OK Play India Limited is engaged in the manufacturing of plastic molded products, having two primary business segments of Toys and Automotive components.

Ok Play India consolidated net profit for Q2 at ₹30 lakhs was around 25% lower compared to ₹40 Lakh reported by the company in the year ago quarter. The same nevertheless was also due to higher tax outgo

The Earnings before Interest tax depreciation and amortisation *(Ebitda) at ₹8.1 Crore grew 2.5% compared to RS 7.9 crore in the year ago quarter. The Ebitda margin at 21.77% improved 177 basis points over the year ago quarter.

The revenues from operations reported by OK Play India at ₹37.9 Crore, however came 6.0% lower year on year compared to ₹40.3 crore in the year ago quarter.

Ok Play India said that it is on track to realize the benefits of its substantial investments in expanding production capacities, with results expected to materialize starting in Q4.

As per investor presentation by OK Play, Robust business growth is projected to begin in Q4 of FY25, driven by increased production and sales stemming from enhanced production capacities

Ok Play also highlighted that strategic partnerships have been secured with prominent retailers, including Amazon, FirstCry, and Hamleys, positioning the company to strengthen its market presence and potentially drive higher sales volumes

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