OK Play India Ltd., a leading player engaged in the production of plastic molded furniture, outdoor play equipment, point-of-purchase products, automotive components, and electric vehicles, has announced robust earnings for quarter and year ended 31 March 2024.
For the quarter ended 31 March 2024 (Standalone), the company reported its revenue at Rs. 4838.46 Lakhs, a growth of 45% QoQ. EBITDA jumped 126% QoQ, from Rs. 252.05 Lakhs (Q3FY24), to Rs. 571.83 Lakhs (Q4FY24). PAT recorded a robust growth and stood
at Rs. 426.33 Lakhs (Q4FY24).
Recently, the company executed a split of the Equity Shares of the Company in the ratio of 1:10, i.e. division of every 1 equity share of the nominal/face value of Rs. 10 each into 10 equity shares of the nominal/face value of Rs. 1 each.
Earlier, the company had announced that, it, through its recently acquired wholly owned subsidiary, MRH Technologies Private Limited, entered into an agreement with MANN+HUMMEL Filter Private Limited (MHIN), a subsidiary of the MANN+HUMMEL Group, Germany to act as its sole and exclusive distributor to promote, distribute, supply, install and service its revolutionary new product- “PureAir Mobile Fine. Dust Particle Filter Roof Box- designed to combat the life threatening, hazardous menace of air pollution. being MANN+HUMMEL is a 4.8 Billion Euro German MNC having operations in over 80 countries and present in India since the last 18 years. Leveraging their advanced filtration techniques and the state-of-the-art technology, MANN+HUMMEL has developed a dependable and potent product in combating fine dust pollution by efficiently capturing hazardous fine dust particles, including PM2.5 and PM10, from ambient air. The same has been successfully productionised and tested. The product has been designed to be mounted on vehicles as well as on stationary locations.
Commenting on the agreement, Mr. Rajan Handa, Managing Director, said: “We are
extremely delighted to announce our arrangement with MANN+HUMMEL, a prominent global leader and recognized authority in the field of air filtration solutions. This agreement holds significant importance, not only for the Company but also for the Nation as it has the potential to be a transformative remedy for addressing air pollution in India. Air pollution poses significant detrimental consequences on public health and the environment. The well documented adverse effects of particulate matter include detrimental impacts on respiratory systems, cardiovascular health, and overall quality of life. Moreover, the elevated levels of Air Quality Index (AQI) pose a serious threat to the youth and future generations, necessitating an urgent and strategic response. Additionally, according to a report published by Dalberg Advisors, Blue Sky Analytics and the Confederation of Indian Industry (Cll), Indian businesses incur losses of over Rs. 7 lakh crores annually as government imposes restrictions on construction and manufacturing activities to curb the effects of air pollution.”
Established in 1989, OK Play India is a company dedicated to the production of plastic
molded furniture, outdoor play equipment, point-of-purchase products, automotive
components, and electric vehicles. Furthermore, the company boasts a leading market position in the manufacturing of plastic fuel tanks for heavy commercial vehicles. Within the automotive components division, the company specializes in crafting plastic fuel tanks, urea tanks, and water tanks for use in commercial vehicles, tractors, and construction equipment industries. Additionally, it produces a variety of other components, including plastic bus seats, fenders, consoles, cabin roofs, and more, catering to the needs of the construction equipment, tractor, and commercial vehicle sectors. Since 2015, the company has actively participated in the electric vehicle (EV) sector, amassing a diverse portfolio of over 12 distinct electric three-wheeler variants across the L3 and L5 categories. With a strong foothold in the EV domain, the company is strategically positioned to harness the increasing EV market penetration and secure a substantial market share in India. The shares of OK Play India Limited are listed on BSE (526415)