OK Play India Ltd

₹ 15.0 2.25%

17 Sep - close price

About

Incorporated in 1988, OK Play India Ltd manufactures plastic molded products,
ranging from automotive components
to children playground equipment^[1]

Key Points

Business Overview:^[1]^[2]
OKPIL is an ISO 14001:2015 and ISO 45001:2018 certified largest Homegrown Toys Brand in India. It deals in Indoor Toys and Outdoor Play Equipment, School Furniture and Healthcare Products. OK Play is an acquired brand of OK Play UK, London. Company sells products under
its brand name – OK Play. It uses Roto Moulding, Blow Moulding, and Injection
Moulding techniques for their plastic moulded
products

Website BSE

Market Cap ₹ 435 Cr.
Current Price ₹ 15.0
High / Low ₹ 21.5 / 10.0
Stock P/E 1,012
Book Value ₹ 3.89
Dividend Yield 0.00 %
ROCE 11.1 %
ROE 1.91 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.

Cons

Stock is trading at 3.85 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of -5.06% over last 3 years.
Promoters have pledged 81.4% of their holding.
Company's cost of borrowing seems high
Promoter holding has decreased over last 3 years: -14.9%
Working capital days have increased from 62.7 days to 135 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Plastic products Industry: Plastics Products

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	13.84	18.91	27.21	41.19	41.12	40.09	46.99	53.26	43.25	40.31	40.93	60.08	39.81
	15.15	16.23	23.35	31.94	36.88	33.35	35.31	43.71	36.43	32.42	32.43	48.84	37.37
Operating Profit	-1.31	2.68	3.86	9.25	4.24	6.74	11.68	9.55	6.82	7.89	8.50	11.24	2.44
OPM %	-9.47%	14.17%	14.19%	22.46%	10.31%	16.81%	24.86%	17.93%	15.77%	19.57%	20.77%	18.71%	6.13%
	-0.04	0.05	0.06	1.06	-0.11	0.02	-0.03	0.14	0.01	0.10	0.01	-1.51	5.55
Interest	3.09	3.45	3.47	3.16	3.90	4.84	4.41	4.01	3.31	4.31	3.56	3.71	3.30
Depreciation	3.44	3.30	2.71	3.60	3.34	2.98	2.98	2.92	2.98	3.03	3.20	4.11	3.67
Profit before tax	-7.88	-4.02	-2.26	3.55	-3.11	-1.06	4.26	2.76	0.54	0.65	1.75	1.91	1.02
Tax %	0.00%	0.00%	0.00%	-81.69%	0.00%	22.64%	-5.16%	173.55%	31.48%	36.92%	38.86%	137.17%	15.69%
	-7.88	-4.03	-2.26	6.45	-3.12	-1.30	4.49	-2.03	0.36	0.41	1.07	-0.71	0.87
EPS in Rs	-0.41	-0.21	-0.12	0.34	-0.16	-0.07	0.23	-0.11	0.02	0.02	0.04	-0.02	0.03
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	61	107	66	102	79	138	153	76	90	98	175	185	181
	47	91	76	83	61	107	113	62	72	84	142	150	151
Operating Profit	14	15	-10	20	17	31	40	14	18	14	32	34	30
OPM %	23%	14%	-15%	19%	22%	22%	26%	19%	20%	15%	18%	19%	17%
	-4	-3	21	-9	2	-6	-2	2	0	1	0	-1	4
Interest	7	11	11	14	13	14	16	15	17	13	17	15	15
Depreciation	6	7	4	4	5	6	8	10	10	13	12	13	14
Profit before tax	-2	-5	-4	-6	1	4	14	-9	-9	-11	3	5	5
Tax %	-9%	65%	-38%	-39%	93%	43%	56%	-58%	-12%	-27%	168%	76%
	-2	-9	-3	-4	0	2	6	-4	-8	-8	-2	1	2
EPS in Rs	-0.13	-0.52	-0.15	-0.22	0.00	0.12	0.33	-0.18	-0.42	-0.40	-0.10	0.04	0.07
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	6%
5 Years:	4%
3 Years:	27%
TTM:	-1%

Compounded Profit Growth
10 Years:	8%
5 Years:	-27%
3 Years:	30%
TTM:	-74%

Stock Price CAGR
10 Years:	10%
5 Years:	51%
3 Years:	64%
1 Year:	26%

Return on Equity
10 Years:	0%
5 Years:	-7%
3 Years:	-5%
Last Year:	2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	17	17	18	18	19	19	19	19	19	19	19	29
Reserves	20	11	11	7	17	17	39	36	28	20	17	84
	88	89	103	102	108	124	122	128	126	139	143	82
	25	30	18	36	40	44	38	42	62	59	60	93
Total Liabilities	149	148	150	163	184	205	219	225	236	237	239	288
	53	51	52	56	76	88	116	120	123	123	119	136
CWIP	0	3	5	14	9	14	0	1	1	1	1	1
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	96	93	93	94	99	102	103	104	112	114	120	151
Total Assets	149	148	150	163	184	205	219	225	236	237	239	288

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	5	19	-22	20	23	20	37	26	29	7	20	11
	-21	-6	-7	-17	-20	-23	-23	-15	-13	-12	-8	-32
	21	-18	22	-4	-2	4	-14	-12	-16	5	-13	22
Net Cash Flow	5	-5	-6	-0	1	0	0	-1	1	-1	-1	1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	210	96	162	141	140	61	44	45	43	47	34	51
Inventory Days	296	165	142	176	461	274	237	516	634	612	415	281
Days Payable	170	76	98	104	218	106	57	91	197	195	133	68
Cash Conversion Cycle	335	184	206	213	384	229	224	470	480	464	316	264
Working Capital Days	196	122	288	84	107	130	93	174	12	12	41	135
ROCE %	7%	7%	7%	12%	10%	18%	19%	4%	5%	2%	11%	11%

Shareholding Pattern

Numbers in percentages

2 Recently

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	59.72%	59.72%	59.72%	59.72%	59.72%	59.92%	59.92%	51.83%	49.14%	45.52%	44.82%	44.82%
	0.08%	0.15%	0.34%	0.34%	0.34%	0.34%	0.19%	13.51%	19.64%	19.95%	19.64%	19.03%
	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%
	40.18%	40.10%	39.91%	39.91%	39.92%	39.71%	39.86%	34.64%	31.18%	34.50%	35.54%	36.13%
No. of Shareholders	10,024	10,092	10,347	10,916	10,877	10,416	10,064	11,438	11,540	12,782	20,407	22,198

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	58.41%	58.41%	59.72%	59.72%	59.72%	59.72%	59.92%	44.82%	44.82%
	0.00%	0.04%	0.04%	0.02%	0.02%	0.34%	0.19%	19.64%	19.03%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%	0.02%
	41.56%	41.52%	40.21%	40.23%	40.23%	39.91%	39.86%	35.54%	36.13%
No. of Shareholders	7,516	9,408	9,186	8,998	9,193	10,347	10,064	20,407	22,198

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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