OK Play India Limited FY23 revenues jumps 77.5 per cent

Mumbai (Maharashtra) [India], April 25 (/PNN): OK Play India Limited (BSE Code - 526415), engaged in the business of manufacturing of plastic moulded Toys, School furniture, Outdoor Play Equipment, Infrastructure and Automotive components, Point of Purchase Products and E-Vehicles on the three-wheeled platform has announced its audited Financial Results for the FY23.

Consolidated Key Financials at a Glance:

- Revenues for FY23 at Rs 181.69 crore; up 77.50 per cent

- EBITDA for FY23 at Rs 32.44 crore; up 106.89 per cent

- EBITDA margin for FY23 at 17.88 per cent Vs 15.50 per cent

- Turnaround at PBT to Rs 2.86 crore Vs loss of Rs 10.62 crore

Commenting on the performance, Rajan Handa, Managing Director of OK Play India Limited said, "Post the COVID pandemic, robust demand has been witnessed in all our verticals. The initiatives taken by the Indian government in promoting the Indian Toy industry has resulted in not only increased demand in the domestic market but have evinced keen interest from Global players. We thus expect the Toy industry to keep performing year on year and become the Toy Hub for the world. The CV market has also posted significantly high numbers backed by the overall growth of the economy as well as the increased infrastructural spends. The upward trend witnessed in the year is again projected to carry on as per the numbers shared by the OEM's."

Founded in 1989, OK Play India, is engaged in the business of manufacturing plastic molded Toys, School furniture, outdoor play equipment, point of purchase products, automotive components and e-vehicles. The company is also the market leader in the field of plastic fuel tanks for heavy commercial vehicles.

The auto-component segment of the Company manufactures a range of plastic fuel tanks, urea tanks and water tanks for the commercial vehicles, tractor and construction equipment industries. It also manufactures a number of other parts such as plastic bus seats, fenders, consoles, cabin roofs, etc. for the construction equipment, tractor and commercial vehicles industries.

The company has been involved in the EV Space since 2015 and has a portfolio of more than 12 different variants of electric three-wheelers across the L3 and L5 space.

The Company is well-positioned to take advantage of the EV penetration and gain a substantial market share in India.

The shares of OK Play India Limited are listed on BSE (526415).

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