Indian Toy Industry - Any listed opportunity?

Indian toy sector reached a value of $1.23 Billion in 2020 and is expected to grow with a CAGR of 12.2% for the next 5 years.
IMARC Report on Toy Industry

Right now, it is just 0.5% of the Global Market. Nearly 70-75% of toys in India are imported from China. But, now the Indian Government is focused on Promoting toy manufacturing in India. They have allowed 100% FDI in toy Manufacturing. A mega 400 acre Toy cluster is being build in Karnataka for manufacturing.

Custom Duty on toys was increased to 60% in beginning of 2020.

But, the most important development which happened last year is the β€œBan” on import of Toys.
The stringent norms for import introduced last year for import of toys means that there has been virtually no import of Toys from China in 2021.

Right now, almost 90% of the market is unorganized and i believe there is a huge opportunity in this sector both for Domestic consumption and export. I have already heard about 6-7 importers
planning to put their own factory in India.

But i am unable to find any listed player from the industry. What can be a good proxy to the toy manufacturing industry?


Shaily Engg. is engaged in manufacturing of Toys
As per latest representation
Company Have been awarded 3 projects with a leading Toy Manufacturer.
Started production of 2 products for Global Toy Major post approval in Q4FY21.
New customer account added with total business value of US$ 6 mn/year
Expansion of Rania facility to meet new and existing projects of Toys business
Facility to be operational by end of current fiscal year
1 new product confirmed from customer; business value of US$ 1.5 mn/year
Ramp up in FY22


In 1987, MRF along with Hasbro, the US-based leader in children and family leisure-time products, started a new joint-venture named Funskool India. They started with a vision to help every child grow into a successful human being. This process helped them to emerge as the largest toy company in India today.

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A couple of listed names, which are into toys are OK play India and Archies.

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Rev per store is highest in last 8 years, total revenue increased even though no. of stores fell, the company has turned profitable.

Even before covid, they were never consistently making money, may be COVID was a jolt that company needed, now they might turn a new corner with laser sharp focus on profitability and sustainable expansion.