General Discussion

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  • #14033
    chris
    Registered Boarder

    Good evening,
    Was an interesting con call, SKR did confirm the continuing growth story and audio acquisition.

    But, again the main cause for concern was the SHP. No explanation given for the missing promoter quota, except for his assurance that he himself hadn’t sold a single share in the last 12 months.
    He also did mention that Mr. Vijay Kancharla had sold “a couple of thousand” or “10,000”(I didn’t catch that), and when asked regarding the intimation of the same, he said there was a discussion with the regulator regarding the same.

    So those I felt were the key points in today’s concall. Opinions and guidance from fellow members would be greatly appreciated.

    #14034
    chris
    Registered Boarder

    Was listening to the concall regarding the failure to disclose the sale of shares by vijay kancharla “5000-10000 shares (a very minuscule amount)”. SKR’s answer to the investor “ yes you do have a point we are in talks with the regulator”.

    The surprises with this share continue, there has never been a silent year, but the amount of informal education this share has given me is crazy. So really wondering what happened to these shares, very inquisitive more on the academic lines.

    #14035
    chris
    Registered Boarder

    @jacksparrow13 bonus shares done, we shall talk about SHP for the next quarter or two

    #14036
    odysee
    Registered Boarder

    Not sure as to why the SHP should be be of any major concern. Mr Reddy clarified that he has not sold a single share personally in the last 12 months. The mystery surrounding the personal holdings/control through LLPs shall be resolved, I suspect, when the next SHP is released.
    I would, however, like to see a balance sheet with far greater disclosures than hitherto. That issue never came up.

    #14037
    chris
    Registered Boarder

    @odysee if that is the market perception of SHP, I’ll be more than happy.

    Unfortunately, convention media and social media painting a different picture, but they have always been doing that even when the share was trading at peanuts.

    4+
    #14038
    Brightspot
    Registered Boarder

    @odysee i am very disappointed by the way con call was conducted today,none of issues were resolved.. all pending issues are still pending. he told again daum closure would take another 2 quarters . it appeared to be like those who will always post positive tweet are allowed to ask questions, however that was only my view i might be wrong also. In the acquisition there is buy and sell, SKR acquired shares from LLPs , how that transaction took place is a mystery, can someone throw light on it?
    or those llps are originally owned by SKR himself?

    #14039
    JackSparrow13
    Registered Boarder

    The problem with Brightcom share(not company) is very clear and has been clear since decades – low promoter shareholding. Till that gets sorted, we will have huge multi year variations in share price. My personal sense is that driven by negative environment in investing circle, we will may go back to 10 or below. This is something we need to accept, and not lose sleep over (apologies for being cynical).

    What is consistently getting missed out is that business is getting stronger (fog created that subsidiaries abroad India are smoke and thin air :P). Frankly I am liking this fog. Am actually hoping more negative news/hit jobs come out. Because if the business is getting stronger, and since the company has a dividend policy, it makes sense digging in and enjoying growing dividends.(its a part of small cap investing)

    Shareholding issue also seems blown out, if I take a decadal perspective (apologies). Its not that promoter shareholding has gone down to 1-2%, or drastically improved to 50%. There is hardly any special advantage that comes with promoter shareholding being 22% or 18%.

    I am not really a good analyst, nor do i have any great insight on business or promoter. But I am seeing positive multi year trends in financials (repaying of debts, increase in sales, steady margins, high but steady Debtor days, slowly improving dividend payout). All that is missing is strong parentage (promoter shares)

    All I am saying is if I am a long term investor, I should focus on long term. Do I see business improving ? Do I see corporate governance improving (I see no reason why, the amount of dirt directed at Twitter at SKR and Brightcom is unbelievable, and it takes a really thick skinned animal to ignore the dirt all the time)

    #14040
    Abhishek
    Registered Boarder

    What is more important promotor’s holding or Business? Ans: Business
    Is promotor’s holding deciding factor for growth and value stocks? Ans: Not at all
    why long term investors should worry when Financials improved, Business is growing and promotors taking good decision to acquire a company to build strong backend team to support business growth and sustain? There is no reason to worry. Yes, some corporate governance issues are there, and hoping management will soon address/fix those.
    If promotor’s holding is so important then why Infosys (13.11% promotor’s holding) grew faster than Wipro (73% promotor’s holding) and given better return to investors.
    I am personally very happy with business growth and rewarding shareholders with bonus shares, and I believe in long run it will help in multiplying investor’s wealth as true multi-bagger. again it’s my personal view only.

    #14041
    nitin_asce
    Registered Boarder

    I was not able to attend the concall. Does anybody have youtue link of concall recording.

    2+
    #14042
    JackSparrow13
    Registered Boarder

    ^Searching for same.

    2+
    #14043
    JackSparrow13
    Registered Boarder

    One the funniest criticism i have read is Q4 revenue is so less vs Q3. When learned people criticise using big issues like Daum, Bonus, acquisition, cash flow, debtor days, etc etc, and include Q3-Q4 sales comparision in the list, i feel like laughing.

    #14044
    hw_tw
    Registered Boarder

    Q4 FY22 Conference call recording

    6+
    #14046
    radhutheoptimist
    Registered Boarder

    As per Morningstar closer to 28 million shares were added by funds and institutions in May 2022 alone. 16 entities were new additions. Every month they are adding more than 1% of total equity. Can’t understand the game plan of the operators going by today’s trade. Is it going to be another year of painful wait?

    https://www.morningstar.in/stocks/0p00015zpv/nse-brightcom-group-ltd/overview.aspx

    #14047
    hw_tw
    Registered Boarder

    Vanguard has added significant portion recently. The initial estimates were to add around 85 lakhs but they have added more units subsequently and are holding around 1.85 crore units

    As per StockEdge bulk deals list Vanguard has never made a bulk deal in BCG, but they were still able to gather large quantity / crores of units … Could this be a case of direct transfer from promoters …🤔

    https://sedg.in/9u43kx6i

    Apart from the list published by SKR, a known name Fidelity Management is the new entrant in the list of Institutions holding a small portion of 2 lakh units

    #14048
    myainvest
    Registered Boarder

    I can’t understand the past few days volumes. If some understood and can explain it would be a help.
    1. There was a huge volume of around a crore both exchanges combined for the past 3-4 days. All the while, throughout the day the sell volume depth was only around 5-6 lakhs. Even today, when 40-50 lakhs were traded in the morning, the sell volume depth was only some 6 lakhs.And still another 40 some lakhs were traded until it get locked in LC(sell volume depth was only 6 lakhs all the while) Was someone very cautious that they buy shares only at LC
    2. My understanding of asm, although we are in stage 2, there can’t be any intraday trading. So all these shares will taken for delivery. Would that be a correct statement? But delivery percentage in bse/nse says different?

    Though ppl are selling bonus shares, this trend is confusing for me. Any views from anyone ?

    #14049
    chris
    Registered Boarder

    @myainvest as per my understanding, ASM 2 does not define delivery, when a stock is in trade to trade you have a 100 percent delivery. Bcg is out of t2t a couple of days ago. So delivery volume is showing 50-60 percent on nse and bse.

    #14051
    JackSparrow13
    Registered Boarder

    Listened to the Concall. Promoter Share Holding Saga. Same old story. Do something impulsive & Smart. Then figure out how to make work legally. Similar to Bonus share issue. Very messy. Had to pay fine for this bonus delay.

    For those who haven’t heard the concall, SKR very emotionally said he hadn’t sold a single share. and He was 200% committed to business. To a follow up question about share holding disclosures, he accepted there were lapses.
    So, we are back to messy way of working. This mess will be cleaned in next few months. Then SKR Sir will have another outstanding idea, of increasing his and his shareholder’s misery..

    CFO CS issue – Didn’t work out with initial CFO candidates. Widening the net. I can understand the CFO issue. A CFO for a MNC Ad Tech company can be hard to find pedigree. My personal sense is that such a person should either be internal to Brightcom, or deputy CFO of an AdTech competitor company.

    Dont really understand the delay in CS issue. There are thousands of BSE/NSE companies with CS. Delay is seriously inexplicable.

    Maybe the issue is something else. Often 1st generation promoters have issue in delegating responsibilities. How much can 1 single man do ?
    But still SKR has started to strengthen his team from last year. Hopefully with time, he will learn to delegate non core activities downwards. The leader of Rs.5000 Cr. Sales company should ideally be free from day-to-day mundane activities. He should spend his time searching and perceiving the next big opportunities, and preparing his company to capitalize on the same.

    But how can he do it, if has spend his time sending documents to BSE. Even the stupid announcement regarding publication of results in Newspapers, is being sent under his name. I truly hope, the publication was sent by his team under his name, not he himself…

    Sorry, rambling post. Apologies if I have wasted your time.

    #14052
    Abhishek
    Registered Boarder

    Agree to Jacksparrow13, specially on 2 points that 1st generation promoters have issue in delegating responsibilities and second SKR must appoint a CS at earliest to reduce his work load from communication related work at least. CFO position is not that easy to fill so quickly.
    My View – “Regarding SHP, not sure why is so much hue and cry. If company is growing then why can’t promotors take advantage and make money when share price is high. Again not sure if they sold or it’s transfer. Many promotors, CEO, board members etc. did in past and doing now. Ex. Jeff Bezos sold his 50% stake in Amazon, Bill gates sold his majority stake in Microsoft and now holding just 1% etc. Are Amazon and Microsoft stopped growing or become bad companies?
    For me, the biggest achievement for BCG is to generate FCF in last quarter, which is expected to be 500 Cr by this quarter. It is very healthy sign for company as well as investors. Share price is influenced by many factors, but in long run it should be aligned to business growth.”

    #14053
    chris
    Registered Boarder

    Two sides of the coin, firstly the super year in terms of the business 5000+ crore revenue and near 100 percent increase in the PAT. Secondly, the SHP(ugly aspect), the issue here is not whether SKR sold his stock and made money, the problem here is “UNCERTAINITY” of not knowing what happened. Was hoping the concall would help get us some clarity.

    #14054
    chris
    Registered Boarder

    The silence in this group is killing me 😅 . But I guess this type of investment has these kinds of risks.

    This ride with BCG, Being an investor (not a trader) has been a wonderful one, learnt a lot but not being able to cut out the noise anymore so staying off Twitter and the telegram group for now.

    There’s nothing to discuss any further all the pros and cons have been laid out very clearly time and again. Fundamentals are strong, growth story is still on, sitting on good profits since I’ve been investing in bcg since 2014, so let the roller coaster ride continue (ending with a positive bias).

    Again thanks a lot to everybody who have contributed to this forum.

Viewing 20 posts - 4,581 through 4,600 (of 4,763 total)
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