[VALUEBUYER001]

Rathi b sir Ji please update. Just in few lines key points please

[sac6310]

Hi @rathi_b whole investor community is waiting for your response, please update.

@other members of hyd team, you all can provide updates too.

[myainvest]

Rathi dude, waiting eagerly for your update!! Infact more than any past updates from SRK, ever! : )

[vaayu1963@gmail.com]

Rathi ji is attending an emergency. Why so much rush? Let him finish his work then he will explain the discussion.

[Rathi_b]

Yesterday, as representatives of this forum, we, the investors from Hyderabad, held a meeting with the CEO, Suresh Kumar Reddy. The following are the points that were discussed in our meeting with him

1. Appointment of CFO and CS.

Mr Suresh has assured us that the appointment of a CFO is his top priority and that filling that important position is in the final stages. He told us that YSR garu had been with the company for a very long time and that replacing him with someone who can fill his boots has been an arduous task and that now it is in its final stages. He told us that YSR garu is still advising the company in his personal capacity. He has reassured us that the CS appointment will also be made on priority.

2. Mediamint acquisition and its completion.

Suresh informed us that the acquisition has not yet closed and that a notification will be sent to the market as and when there is an update on it.

3. ESOP

We had mentioned to Suresh garu regarding the exercising of this option at this appropriate time. He has told us that this is being looked into as an option as well.

4. Audio acquisition

He informed us that this is not signed yet and has assured us that the company will notify the exchanges when there is an update.

5. Shareholding misunderstandings

Here Suresh garu has strongly stressed and assured us regarding his resolve and commitment to the company and that the company will make the appropriate submissions to the Exchanges and the Regulator.

6. Forensic Audit

Suresh garu reiterated his stand that there have been no irregularities and that they are fully cooperating with the authorities. He rejected and denied any baseless rumours in this regard, and its best to wait for the final report.

7. Stock price fall in the market.

We had strongly put forth our point regarding this aspect to the CEO and asked if he is doing anything to address this fall in share price. Suresh garu has assured that this temporary setback would be abated in the near future and that the company is constantly working to increase the shareholder’s value. He assured us that the situation will get better as and when some of the above updates are sent to the exchanges.
Here he reminded us that large fund houses like the kind that had been shared to the exchanges recently have been buying into the company and has urged the long-term shareholders who have been part of the journey through thick and thin not to get rattled and stay invested.

8. Free cash flow clarification

Mr. Suresh mentioned to us that a document to clarify the details is ready and will be published by the management shortly.

9. Daum

Suresh garu has assured us negotiations in this regard are being held by the company and that a relavant update as and when necessary will be sent to the exchanges.

Finally, Suresh garu also mentioned that the company is in a tremendous phase of growth where the revenues have increased by over 75% in the last year. The company is targeting further growth this year and meeting the revenue projection for the current year. He reiterated his commitment to the retail shareholders and announced the bonus issue and dividend to reward them.

[Zoro7]

I don’t think these were the answers that we were looking for. We know all this. Don’t what to do at this point of price. Wish I had sold and bought back at these prices.

Anyways, thanks @Rathi_b

[sac6310]

thanks @rathi_b for your time and updating us.

Outcome of this meeting is really a great-2 depressing. Wish i could also had sold much earlier. Right from appointments to, daum(way back done deal still in negotiation, am amazed), media mint ,SHP etc.. just provided a lollipop and assurance to fix these without any concrete timeline.
extremely pathetic corporate governance, everyday i thought that a company cann’t go too low in CG after achieving large cap status, but now am damn sure our BCG will go to small cap soon. very sad to see this growth.

[Sumeshnair2005]

Zoro what els you were looking for skr can give any update which he has not given to exchange … he will give thm in due course as and when it’s ready..with this meeting what we have to see is that skr decided to meet them and repatriate all these points as there is no need for him to meet thm and tell lies .. so I think just hold on and add if possible cheers

[Sumeshnair2005]

What is more is there’s body language .. can the team pls tell how confident skr was .. was he fumbling ? Was he same confident as last time you met thm ? Otherwise no company can give any update to pvt people without informing exchanges as it will amount to unfair practise .. even if thy show any new update the team cant disclose it here

[odysee]

Thank you very much @Rathi_b for summarisation of your interaction with Mr Reddy.
We really cannot expect him to reveal more than whatever is in the public domain.
But I presume you came away somewhat reassured, otherwise you would have mentioned that too.

[allenasrini]

Yes SKR cannot reveal more than what is in public domain. However, his willingness to meet and discuss is positive. To me the body language of SKR in the meeting is important. Mr.Rathi can throw some light on that.

[Manish]

@rathi_b it seems this draft is finalised n written by Suresh Team for you … Just one simple n hard question why is Media Mint not closed even after payments done n Shares issued what is the legal hurdle. This deal was announced 6+ months n results were supposed to be incorporated this or last qtr

Why is there so much of undue delay in everything that is announced

Complete details should be given out….

Apart from that everything is in the word of Mr Suresh which is acceptable n fine but this needs detailed explanation reasoning n if it is being completed or not n if not why the monetary compensation done n equity dilute which ultimately hurts existing investors….

Another point of concern is the management ardent trader n ding inside trading or menipu laging stock proces or any group of investeren who are regular lu updated of info n is niyong at low n selling at high giving tremendous stress to long term investeren for no good reason if yes this distribution of information schools be stopped immediately to such group if any….

[intmani]

@rathi_b Thank you so much for the summrisation..
Did you get a chance to him at the office or is it Virtual discussion???

[nitin_asce]

Thank you so much @rathi_b for summarizing the meeting.

My understanding of the situation:
1. SKR agreed to meet hyd investors when stock was hammered. I understand at one point hyd investors wanted to meet SKR but there was no response from bcg.
It will be interesting to know who initiated this meeting this time whether it was bcg or hyd group.
Please note the intent of this meeting is to reassure investors. So do not expect any big thing from this meeting. But meeting Hyderabad investors in itself a positive event.

2. Rest when running a company there are several challenges which ceo will not share with investors as same might benefit the competitors.

3. For shareholding issue, bcg has not formally notified hhe shareholding for the quarter. The probability of skr cheating investors is very less. However skr repeatedly claimed that he is invested in company. There is a chance that promoters will increase their shareholding.
If I am the promoter of the company where revenues of the company are growing >50%, I personally would not sell my shareholding.

Rest this meeting with hyd investors shows a positive intent by management. As investors we have yo wait for couple of months to see the progress.

[Longplay55]

Dear Rathi_b and Hydrabad Team…at the outset, I must wholeheartedly thank you guys for taking efforts to meet Mr. Suresh Reddy in person. You have done a great job on behalf of retail investors like me who had reposed faith in you. Now, though, the answers from SKR are no-different to what was said earlier; however it gives us added confidence / assurance to continue holding to this investment. Personally I am invested from 2016 / 17 onwards and will hold till end ’23, thereafter subject to EPS growth and market conditions.
God bless BCG and it’s long-term investors.

[myainvest]

Thank you so much Rathi and the team who met with SKR. Sincere thanks for doing this.

Looking at the updates, my honest view is – I exited completely around 59+ after second bonus. It is still c.12x for me. I wish I could have exited around 21x when I had the opportunity. BCG still made a humongous returns for me even at 12x. I’m forever thankful for BCG for this esp, when I started investing around mid 2015 !.

IMHO, I don’t believe market will turn around after these updates, as most of us knew this already. I could be totally wrong too here.

Few old timers, some may not like my message and ‘could’ ask me to stop writing as I had exited completely. I don’t mind, I will still keep looking at this forum with a different id for any further information, which would give me confidence to re-enter. I couldn’t thank enough the admin for doing this !

This is SKR’s company. He built it from scratch and knows what is best for business. Business is doing great in my view – if not for this shp issue it would still fly even if FA came negative in my view. SKR had faced more pathetic situations, esp the bankruptcy case and came out successfully. I’m very confident that he will do it again – I really couldn’t understand what the current situation is. Mgmt responses doesnt give me a clear picture in my view – I can only understand that they are working very tediously on something in the background.

I really appreciate Mr.Reddy sir for meeting the investors this time and honestly update which he has been doing always. I will reenter again when things turn positive from company irrespective of whether the price is high or low than cmp.

My only ask for Suresh sir is not to look at indirect ways of doing things – esp around the shp issue, indirect acquisition of LLPs(in bse notification also they used the term ‘indirect acquisition’) etc. – please do it in direct way, which will definitely boost lots of investor confidence and put ‘our’ company back in track ! Indirect ways has its merit and demerits – if it works people will appreciate, if it doesnt people won’t and will reflect in cmp !!!

Once again really appreciate Rathi’s team and Suresh sirs effort for meeting them with these updates !! Sorry, if I had hurt anyones feeling ( I might be 100% wrong here too with my views) !

[sac6310]

sad that even after 8 months(CS) and 3 months(CFO) … BCG using services of them (resigned and retired) employees .. dnt know who advices them all this .. SHP ,FA , bonus delay still somehow digestible ..but appointments and daum negotiation still going on after done deal since years.. There is a limit of everything

[Logan]

BCG has appointed Mr.Singaraju Lakshmi Narayana Raju as the new CFO.

Attachments:

1. BCG-CFO-Appointment.pdf

[chris]

Okay, that’s one thing settled let’s hope the rest follow ……

[JackSparrow13]

Looks pretty ambitious and growth driven, given the frequency of switching. Started small, scaled up quickly, sought and achieved leadership positions at multiple local unlisted and listed companies. Obviously Deloitte gave him perks and prestige, but I guess too much competition for moving up even after 10 years. Took a gamble, by being a CFO of a small company (Cambridge Technology Enterprises does sales around 100 + Crores), now moving on to Brightcom, with 5k Crore sales. Definitely a big move up for him. Hope he succeeds and stays with Brightcom for long, with his growth focus.

[Author]

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