OK Play India (526415)

FairStock Score: 11/100 — RISKY

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

Strengths

• Sales grew 57.94% and profit grew 107.69%, showing strong recent top-line momentum.
• Latest quarter was profitable with ₹52 Cr sales and ₹2 Cr net profit.
• Piotroski F-Score of 7/9 suggests improving fundamentals in recent quarters.
• Positive book value of ₹4.29 and a positive, though low, ROCE of 4.68% provide some base.

Concerns

• Stated P/E is 0.00, and annualizing the latest quarter's ₹2 Cr net profit implies roughly 60x earnings against a ₹500 Cr market cap.
• ROE is negative at -0.17%, and ROCE of 4.68% is far below what a quality business should earn.
• P/B of 3.31 against book value of ₹4.29, with the stock at its 52-week high of ₹14.18, leaves little margin of safety.
• No dividend, no disclosed debt/equity, and no promoter holding data reduce transparency for retail investors.

AI Analysis

Looking at OK Play India, the first thing I notice is a stock that has soared from ₹2.85 to ₹14.18, now sitting at its 52-week high, while the underlying economics remain unimpressive. A 57.94% sales growth and 107.69% profit growth sound exciting, but I have learned to ask what quality of earnings accompanies that growth. The latest quarter shows ₹52 crore sales and only ₹2 crore net profit; annualize that and the ₹500 crore market cap implies a price-to-earnings ratio closer to 60, even though the stated P/E is 0.00. That zero is not a bargain signal; it is a sign that trailing earnings are meaningless or negligible. Return on equity is -0.17%, and return on capital employed is just 4.68%, hardly the kind of franchise economics that justify a price-to-book of 3.31 against a book value of ₹4.29. The company operates in leisure products, an intensely competitive and fickle industry. I see no durable moat here; anyone with capital can enter, and consumer tastes shift without warning. Debt-to-equity is not disclosed, so I cannot fully assess the balance-sheet risk, and promoter holding is also unavailable. The Piotroski F-Score of 7 out of 9 is the only encouraging sign, suggesting recent operational improvement, but that is a short-term signal. A FairStock score of 11 out of 100 correctly labels this as risky. This is not a business I can value with conviction. It may be a turnaround in progress, but at this price the market is paying for perfect execution. As Graham said, price is what you pay and value is what you get; here I fear you get very little for ₹14.18.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer