OK PLAY INDIA LTD - BSE Code - 526415
The company is primarily a toy maker. It has a product portfolio of school furniture, playground equipment, signage boards and automotive fuel tanks along with toys. In the toys market, ‘OK Play’ is an unmatched brand. it has developed 100% plastic parts for electric vehicles and marketing them under the ‘e-Raaja’ brand. The company which has already been in the e-vehicles market with eight unconventional electric products that include e-rickshaws, e-vending carts, e-mobile shops, e-loaders, e-garbage collectors, e-school buses, e-scooters, has launched six variants of electric two-wheelers in the first quarter of 2017-18. These two wheelers, with one single charge, can ply 80 Km distance with 40 KMPH speed.
Rajan Handa, founder-managing director of OK Play Electric Vehicles, believes the three-wheeled platform will be the low-hanging fruit since it will be the most cost-effective of all vehicles.
As India eyes an all-electric car fleet by 2030, Rajan Handa, founder-managing director of OK Play Electric Vehicles, believes the three-wheeled platform will be the low-hanging fruit since it will be the most cost-effective of all vehicles. "We decided to exploit our skills and experience in engineering and plastic moulding to design and develop technically and commercially viable electric vehicles," says Handa. OK Play's e-rickshaw under the brand E-Raaja is priced at Rs 1.25-1.5 lakh and indigenously developed. The company's other products include e-vending carts, e-mobile shops, e-loaders, e-garbage collectors, e-school buses and e-scooters. The e-rickshaw weighs 320 kg and can carry a load of 700 kg. It has a maximum speed of 24 km/ hr and the battery lasts 80 km with each charge. The company can produce 20,000 vehicles every month. "We have set up manufacturing facilities in eight locations in the country. With two more coming up, OK Play will be able to cater to national requirements in real time," says Handa.
"We are in the process of covering the entire geography of our huge country. We are also working towards becoming a global supplier of electric vehicles."
OK Play EV : A New Definition of E- Rickshaw
Designed to Rule the Roads
OK Play Electric Vehicles, one of the most recognised manufacturers in India, has combined innovative design with unparalleled quality to develop e-Raaja, India’s first plastic body e-rickshaw. Robust build and unique features of e-Raaja makes it far superior to any other e-rickshaw in the market. With its seamless, sturdy body, rounded edges and impact resistant plastic, e-Raaja is built to endure rough roads and provide a safe ride with maximum comfort. All this, along with striking aesthetics, makes it a viable option for last mile commute on difficult Indian roads.
Here are their clients in the automative sector
OK Play India Ltd has an annual production capacity of 96,000 electric two-wheelers. The government aims to develop India an e-mobility nation by 2030. To achieve the target, it has chalked out ambitious policies like FAME (Faster Adaption and Manufacturing of Hybrid and Electric vehicles), National Electric Mobility Mission, etc. The Indian e-two-wheelers market has been expanding at a 30% per annum growth rate. The company may garner a 10% market share. It is going to distribute world renowned toy brands in India. As the Supreme Court gave its verdict banning the fresh sales of BS-3 vehicles from April 1, 2017, the company will benefit mostly with the expected demand surge for its Plastic Fuel Tank which strictly adheres to Bharat-4 standards. OK Play has entered an agreement with an Israel firm for developing and marketing of ‘inspection chambers’ which find usage in the sewerage and drainage systems management.
The promoters and non-promoters pumped in fresh capital by subscribing to its equity shares and warrants at a price of Rs 140.47. It caused a surge in the net worth of the company by about Rs 21 crore. With the implementation of BS-4 ecological norms and with the SC final verdict banning the BS-3 sales from this April 1st itself, now there will be an explosive demand for the next generation eco-friendly auto components. OK Play India Ltd, the maker of these parts, is attracting the market players. Currently priced at 164 rs
Note: The above is not a research report but information as available on public domain and it should not be treated as a research report.
Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”
Disclosure: It is safe to assume that i might have Ok Play India Ltd in my portfolio and hence my point of view can be biased. Readers should consult their financial advisory before any investments.
