General Discussion

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  • #11918
    admin
    Keymaster
    Topic Author

    @conservative_indian – I keenly follow all your mmb posts. In fact have gone through them even today and what a pleasant surprise it is to see you here. Thanks for your time.

    @Logan – Thanks for the detailed analysis of the current situation.

    #11922
    ramganesh1982
    Registered Boarder

    Hi conservative_indian sir,

    Great to see your opinion here . This is Ram : J83P0PkZ8p of MC forum . Wish to hear more from you post the meeting today

    Regards
    Ram

    #11923
    raviblk
    Registered Boarder

    WOW

    Thanks to Logan and conservative Indian. Fantastic analysis. Really we are
    able to enrich our knowledge.

    Mr. conservative Indian. I think you are planning to start a new forum as you
    have lot of issues with MMB. If possible can you join with the admin and make
    this forum a role model for others to follow.

    Admin. as you follow conservative Indian posts, you might aware of his plan. why not you invite him and make your partner and convert this as a paid one.

    Once done this forum will be a elite one because of knowledgeable people like
    Logan, Conservative Indian, DH, admin, Odysee ……

    Its my dream and hope this may materialize shortly

    #11924
    jagasworld
    Registered Boarder

    All I could find was only a generic statement but no where in his tweet he has mentioned Brightcom. I do not know what is the intention of this post. No one can decide the future of an stock all we can do is only prediction. Even if he said something like that I do not mind.

    4+
    #11930

    Compayy results just declared https://www.bseindia.com/xml-data/corpfiling/AttachLive/e8e10d31-4685-4561-bef1-cf0b46718599.pdf

    Logan Sir your opinion sought & Eagerly awaited. Thank you in advance.

    4+
    #11931
    vgsatwork
    Registered Boarder

    Board meeting update – my views.

    1. LOC/Receivable financing is not going happen and instead 1500 cr to be raised through combination of equity and bonds (Not going to be cheap like LOC raised in US in low single digit interest rates) – No timelines given for this. So, the growth that all of us are expecting due to LOC/additional funds to be used as working capital is not coming for atleast another 6 months and organic growth to be in single digits only till then. Big investors are likely to come via convertible bond route.
    2. Entire list of preferential warrant allottees are incentivised to excercise their warrants and pay up BEFORE 27th August in order to get the bonus shares, resulting in 190 crore cash infusion. With existing 30 crore from Preferential issue last year and another 75 crore from Preferential warrant money -Total of about 290-300 crore available for acquisition in the medium term
    3. SKR likely to issue preferential warrants to himself to the tune of about 50 crore shares or so as part of the 1500 crore find raising and given the pricing rule of 6 month average pricing for preferential warrant and ESOP warchest of about 70 crores, stock price is likely going to be kept around 30(give or take few rupees) till the preferential allotment happens and only then organic growth boosting fund raising would happen..

    #11932
    Rishi_life
    Registered Boarder

    Few points on outcome of board meeting – which I think

    Negative points –
    1 – EPS would be 4.75 due to bonus issue and PW
    2 – PE would be 5 due to bonus issue and PW
    3 – dividend not that good still not out of token dividend
    4 – more dilution in equity awaited
    5 – auditor not trust worthy not having its own domain email address

    Positive points
    1 – much needed funds recived
    2 – good results for profit
    3 – bonus shares after long for existing share holders.
    4 – consecutive dividend declared

    Hopefully company will give some more and more positive news…

    #11933
    JRS
    Registered Boarder

    LOC Purpose:

    To maintain in time payment to Publishers(Inventory), which demands Working Capital to maintain the Cash flow cycle. More and More Publishers require more and more Cash.

    Funds through Bonds/Equity Instruments Purpose:

    Acquisition for inorganic growth, because Organic growth takes too much time and the enterprise may miss the opportunity of taking advantage of growing Industrial cycle of this domain(Adtech), there is no use of growing slowly and investing at the time when industry reaches Saturation level on the Bell curve.

    According to my observation through SKR interview, he started looking east(India, China and South East Asian countries) where the Internet pipeline has increased along with huge internet user base, this gives better opportunity to reap the benefits of Digital marketing.

    According to me SKR is using multi pronged approach than going in Series, which according to me is a smart approach, Though as a Investor I don’t feel good when I see the EPS reducing due to dilution.

    We should wait and see how SKR allocates the capital and how he adds value to Shareholder, for me I am betting on his bad experience with earlier acquisitions and with belief that he will not take any hasty steps in future as he did before, if he does the same old thing, then it becomes clear that it is not a mistake, but a cheap fraud strategy.

    I have kept this stock in Orange zone(continuous monitoring of developments), due to recent positive developments. once it receive LOC it moves to green zone , then sky is a limit for this stock,

    #11936
    hw_tw
    Registered Boarder

    An article in Business India magazine about brightcom… https://online.fliphtml5.com/wgupd/xscx/#p=50

    #11928
    Arut
    Registered Boarder

    Hello C_I sir, Delighted to see your posts here. ( This is Jgd_11 from. mmb- “The just to say thank you guy” )
    A big thank you to our admin here, Logan and all the other long term investors for sharing your knowledge and educating us on a lot of things unknown to new investor like me.
    Looking forward to learn from all your experience,perception and pass on the same to others if and when a day like that happens.
    BCG is one instinctive buy and hold for me! Cheers!

    #11939
    Logan
    Registered Boarder

    @kris, the results are great this quarter. I’m really surprised because usually Q4 results won’t be that good compared to Q3 but this quarter the company made more profit in Q4 than it made in Q3. Profit has increased 30% Y-o-Y which is more than what many other companies in the industry made. For the full year, profit has increased 9.7% but if we check EPS it shows growth of only about 3% because of increase in shares (PO).

    If we consider only the Online/Digital Advertising business then revenue has increased both for the full year (11%) and also for the quarter (22% Y-o-Y). Margins may have improved because of signing more publishers (direct accounts). Only thing that has not improved is the free cash flow.

    (I always give more importance to the online advertising business and won’t give much attention to the software business)

    Regarding bonus, as I’ve said before, if I consider only the issuance of bonus shares then I’m not okay with it but if I consider everything else then it looks not so bad because it has made the stock wake up from the coma it was in for many years. But I don’t want the company to give bonus shares to the PW allottees.

    Regarding dividends, it is really a small amount, I thought they’d pay more but after the bonus shares news I figured it won’t be big. I’m not a dividend guy and I always prefer buybacks to dividends. This time they should not screw up like they did the last time.

    Regarding fund raising, in the report they have mentioned it is for inorganic growth (acquisition) and I don’t think LoC is off. In the last conference call the CEO said LOC will be for organic growth and other fund raising will be for inorganic. He did mention in the last call that they’ll do more fund raising in the future so no surprise on this really.

    Other thing I want to say is that one guy is using filthy language against some members of this forum. Doesn’t even know how auditing works and how taxes are paid but he’s trying to judge our characters. He’s pissed off about us (me and kris) because we don’t agree with him. It’s silly and very childish. Unnecessarily he’s making us his enemy because we don’t agree with him. I don’t want to have any enmity with anyone. We all are adults here and we can take our own decisions. Who asked him to follow our forum if he doesn’t like what we write here? This is a public forum and everyone can see what’s written and discussed here and we have nothing to hide. I write my opinions here and that doesn’t have to mean only my opinions matter and they are always right. I don’t bother if others make any comments but I have problems only when they try to force their opinions on me. If people don’t disturb me when I write something then I don’t care what they write. Different opinions are always good and people can take whichever they like.

    More importantly no one stopped him (or anyone actually) from giving any complaint against the CEO/company/promoters. I had disagreements with many members here but that didn’t stop me or others from showing respect to each other. There’s no need for “we” vs “them”. Talking about nonsense things and holding grudges is a waste of time for everyone.

    #11941

    Thanks Logan Sir for your as usual prompt reply which always make a lot of sense to me. Ci Sir, In his earlier post he has mentioned At some point in time, they will work on ADR for Nasdaq listing. My take is it will happen in the near future say 1 to 2 yrs down the line. What is your take on it. Would earnestly like to know from your end.

    As far as Green eyed monsters, More & More will come out of the closet as our company starts reaching new heights in its onward journey. Ignore them. Not worth it.

    #11942

    Logan Sir, I more question with regards to QIP of Rs 1500 Crs At what price do you envisage this to happen. My opinion somewhere 75-125 range. Your excerpts on this awaited.

    #11946
    ramganesh1982
    Registered Boarder

    Hi Logan ,

    Thanks for your post . In the company update to bse regarding the bonus shares it’s mentioned that bonus shares are applicable for the PW allottees

    Here is the snippet

    Assuming all the 33,18,45,000 preferential
    warrants are converted into equity shares by
    record date. And the preferential warrant holders
    will also be eligible for the bonus issue upon their
    conversion to equity subsequently.

    Regards
    Ram

    3+
    #11948
    Logan
    Registered Boarder

    @ramganesh1982, yes I know about that. They have mentioned “assuming” warrants are converted to shares. I don’t want them to convert it before issuing bonus shares.

    #11952
    ramganesh1982
    Registered Boarder

    Hi Logan, got your point . I have a few queries after I went through the balance sheet again.Just to be more clear I thought will post the query in our forum . Please throw some light on these
    1) What’s covered as part of ” other income” ? I see a drastic change in this number qoq 1898.87 this time . Will this continue in subsequent quarters ? Any idea ?
    2) The financial cost is another big negative number which indicates another income of (485.77) . What’s this again?
    3) under non current liabilities the ” borrowings ” show high numbers (9688.36) . What’s your opinion on this
    4) sales and income from operations have reduced ?

    Regard,
    Ram

    #11959

    Latest update from our Company.
    This is to inform that, the Warrants and Share Allotment Committee of the Board of Directors of the Company has today, approved the allotment of 3,42,00,000 equity shares of Rs.2/- each of the Company, fully paid-up, pursuant to conversion of preferential warrants into equity, to the non-Promoters allottees.

    Pursuant to special resolution passed by the members of the company under section 62 of Companies Act, 2013 on December 28, 2020 and in-principle approvals received from BSE and NSE on April 01, 2021, the Company has allotted 33,18,45,000 warrants to 54 Non-Promoters on April 15, 2021.

    As per Regulation 169(2) of the SEBI (ICDR) Regulations, 2018, 25% of the allotment price has been paid by the allottees into the Bank account of the Company at the time of subscription. And by July 01, 2021, 20 of the non-Promoter allottees have paid balance of 75% of the allotment price for 3,42,00,000 warrants.

    #11964
    Logan
    Registered Boarder

    @ramganesh1982, sorry for the late reply. Regarding your queries

    1) I don’t know much about that. In the last year’s annual report they’ve mentioned it is as interest income.

    2) The financial cost is maybe the interest paid to Axis (other than the settlement amount). The 150crs write off they did, it carried higher interest rates (maybe 10-14%) and thankfully they are done now.

    3) Few years back even I didn’t understand it properly but in one conference call (I don’t remember which one), they said that those are borrowings from BCG’s subsidiaries. It’s not an issue. Many companies do that. If they receive money from subs, they’ll have to pay taxes so instead of that many companies borrow from their subsidiary and pay interest.

    4) I don’t think sales and income have dropped and in fact they have gone up this quarter. I guess you have checked the standalone results. I’m not interested in standalone business actually. All the strengths of BCG are in it’s online advertising business so you should always give more importance to it.

    #11962
    Manish09
    Registered Boarder

    Dear CI sir i am a silent follower of you in MMB from last one year I am reading your posts and investing in your recommended stocks.Brightcom is one among those stocks. I also have invested in brightcom. I read your posts in mmb from where I get to know about this brightcom investor forum. And I registered myself in this forum.sir one thing I want to share from deep of my heart that I have not seen or found any person like you in any forum or board like you. Who are doing such a kind help of many innocent and small investor like me.
    Thank you a lot CI sir for such a humantarian and kind work for all of us.
    Please join me sir in any of your upcoming group or forum. I shall be very thankfull to you.

    #11966
    admin
    Keymaster
    Topic Author

    Thanks CI sir for leaving such a nice comment in mmb.

    I suggest investors of B* to visit Brightcom Investors forum which is a rich source of information and I suggest new ones to create own log in. I wrote two posts there so far under same ID. Those guys are doing marvellous job and I expect mmb to draw inspirations from them. Good Night.

    Link to original post – https://mmb.moneycontrol.com/forum-topics/stocks/syncom-formula/thread-message-95100233-96900233.html

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