526415

OK Play India financials

Market cap
₹117 Cr
Sector
Consumer Durables
Calls analysed
2
Latest concall · Q4 FY25 · call held 23 Apr 2025

OK Play India Q4 FY25

Revenue ₹58 cr −3%

What went well

  • Toy segment revenue grew by approximately 40% QoQ to ₹28 crore in Q4 FY25, demonstrating strong momentum and increasing market share.
  • New partnerships for automotive components (Vestas, Indocool, Escorts) are expected to contribute meaningfully to revenues from FY26, aiding diversification.
  • The air filtration business, a joint venture with MANN+HUMMEL, is progressing with successful pilots and a planned commercial launch in the current year.

What to watch

  • Total revenue declined modestly by 3% YoY to ₹58 crore in Q4 FY25.
  • Automotive components division witnessed a 25% YoY decline in revenue to ₹30 crore in Q4 FY25, aligning with broader commercial vehicle sector trends.
Read the full call →

What OK Play India does

OK Play India manufactures plastic-moulded products across two primary segments: Toys (75+ SKUs sold to retail and institutional customers) and Automotive Components, using Roto, Blow and Injection moulding technologies at three plants. It was a pioneer of plastic auto fuel tanks in India and supplies moulded components to commercial-vehicle OEMs such as Ashok Leyland, Volvo Eicher and Caterpillar. Through subsidiary MRH Technologies, it has an exclusive licensing arrangement with MANN+HUMMEL to manufacture and distribute air purifiers in India, and it partners with Floteks (Turkey) and Kohler (USA) on specialised moulded products.

Segments

  • Toys
  • Automotive Components
  • Air Filtration
Manufacturing plants
3 (Sohna, Haryana; Ranipet, Tamil Nadu; Bhiwadi, Rajasthan)
Toy SKUs
75+
Distributor network
100+ distributors across 150+ retail stores globally
Plant utilization
Sohna ~80%, Ranipet ~80%, Bhiwadi ~75%
Total manufacturing built-up area
~2,05,000 sq. ft. across three plants
Employees
400+
Founded 1988Headquarters New Delhi, IndiaEmployees 400 (FY25) Company website

Guidance record · Q4 FY25

what the last two calls moved 8 tracked 0 delivered 0 missed 8 open
  • Toys Monthly Production delayed said Q3 FY25 Promised: 4-fold increase in monthly production by Q4 FY25 Q4 FY25: Achieved ₹9-10 crore/month in Q4 (approx 3x increase from Q3's ₹3 crore/month average), missing the optimum ₹14-15 crore/month due to teething issues. Expected to reach optimum in coming quarters.
  • Total Top Line on track said Q3 FY25 Promised: ₹200 to ₹250 crore worth of top line in FY26 Q4 FY25: Q4 FY25 revenue run-rate (₹58 cr) annualizes to ~₹232 cr, placing the company well within the target range for FY26.

All 8 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 11.2%, net profit down 86.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue38 33 57 41 39 +3%52 +58%66 +15%46 +11%
EBITDA8 7 10 6 5 −38%5 −29%9 −12%8 +48%
Net profit0 1 -3 1 -3 −1129%2 +119%4 +232%0 −86%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −65.2% 1Y

₹4.00₹6.00₹8.00Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹9.29 on 10 Sept 2025 → ₹3.23. High ₹9.29 (10 Sept 2025), low ₹2.91 (30 Mar 2026).

Financials, as filed

Revenue grew 2.9% a year over 3 years, FY23 to FY26. Operating margin narrowed to 12.4%.

Year endingFY23FY24FY25FY26
Revenue₹181 Cr₹185 Cr₹168 Cr₹198 Cr
Operating profit₹32 Cr₹34 Cr₹28 Cr₹25 Cr
Operating margin17.8%18.7%16.5%12.4%
Interest₹17 Cr₹15 Cr₹14 Cr₹12 Cr
Depreciation₹12 Cr₹13 Cr₹15 Cr₹18 Cr
Net profit₹-2 Cr₹1 Cr₹-1 Cr₹3 Cr
Net margin-1.1%0.6%-0.5%1.5%
Cash from operations₹20 Cr₹11 Cr₹28 Cr₹31 Cr
Free cash flow₹12 Cr₹-21 Cr₹-36 Cr₹16 Cr
ROCE11.0%11.0%5.0%5.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹19 Cr₹19 Cr₹19 Cr₹29 Cr₹36 Cr₹36 Cr
Reserves₹28 Cr₹20 Cr₹17 Cr₹97 Cr₹125 Cr₹130 Cr
Borrowings₹126 Cr₹139 Cr₹143 Cr₹111 Cr₹126 Cr₹110 Cr
Other liabilities₹62 Cr₹59 Cr₹60 Cr₹51 Cr₹110 Cr₹91 Cr
Total liabilities₹236 Cr₹237 Cr₹239 Cr₹288 Cr₹398 Cr₹368 Cr
Fixed assets₹123 Cr₹123 Cr₹119 Cr₹136 Cr₹193 Cr₹190 Cr
Capital work in progress₹1 Cr₹1 Cr₹1 Cr₹1 Cr₹1 Cr₹1 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹112 Cr₹114 Cr₹120 Cr₹151 Cr₹204 Cr₹178 Cr
Total assets₹236 Cr₹237 Cr₹239 Cr₹288 Cr₹398 Cr₹368 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters trimmed −0.22 pp while the public added +0.22 pp. The shareholder count shrank 3% to 36,362.

Promoters
47.5%
DIIs
0.0%
Government
13.2%
Public
39.3%

Since Jun 2025

  • Promoters −0.22 pp
  • Public +0.22 pp
  • FIIs 0.00 pp

How it drifted, 12 quarters

Over this window FIIs fell from 19.6% to 0.0% — −19.6 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 49.1%, FIIs 19.6%, DIIs 0.0%, Public 31.2%.Dec '23: Promoters 45.5%, FIIs 19.9%, DIIs 0.0%, Public 34.5%.Mar '24: Promoters 44.8%, FIIs 19.6%, DIIs 0.0%, Public 35.5%.Jun '24: Promoters 44.8%, FIIs 19.0%, DIIs 0.0%, Public 36.1%.Sep '24: Promoters 47.0%, FIIs 18.1%, DIIs 0.0%, Public 34.8%.Dec '24: Promoters 50.4%, FIIs 8.3%, DIIs 0.1%, Government 6.2%, Public 35.1%.Mar '25: Promoters 48.4%, FIIs 8.2%, DIIs 0.0%, Government 6.2%, Public 37.3%.Jun '25: Promoters 47.7%, DIIs 0.0%, Government 13.2%, Public 39.1%.Sep '25: Promoters 47.5%, DIIs 0.0%, Government 13.2%, Public 39.3%.Dec '25: Promoters 47.5%, DIIs 0.0%, Government 13.2%, Public 39.3%.Mar '26: Promoters 47.5%, DIIs 0.0%, Government 13.2%, Public 39.3%.Jun '26: Promoters 47.5%, DIIs 0.0%, Government 13.2%, Public 39.3%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of OK Play India above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Rajan Handa 23.66%unchanged
Enforcement Directorate Raipur 13.18%unchanged
Anandana Handa 7.00%unchanged
Rishab Handa 6.90%unchanged
Raghav Handa 6.90%unchanged
Mamta Handa 2.76%unchanged
Leisure Enterprises Llp 1.94%unchanged
Badjate Stock Broking Private Ltd 1.17%−0.21 pp
Ravinder Chamanlal Mehra 1.09%unchanged
Sangeeta Chopra 0.20%unchanged
Rajesh Chopra 0.03%unchanged
Rajesh Chopra Huf 0.02%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (2)

Read the Q4 FY25 call →

Learn to analyse OK Play India

Guides on how to read this kind of business and the numbers that matter.