[Logan]

It’s good to see the company sharing regular updates and more important than that is that these aren’t just random updates but actual progress happening. I’m guessing SKR is behind all this but Mr.Raghunath and the board also deserve credit and respect. Though both Mr.Raghunath and Mr.Kallol look like they are SKR’s people, both deserve respect for taking up the responsibilities when others didn’t (like Vijay Kancharla and Mr.Peshwa). They didn’t always do things quickly and are partly responsible for the trading suspension and keeping investors in dark for more than a year but recent actions seem like they are finally ready to be serious and take necessary steps to revive the company.

They’ve mentioned that there’ll be a conference call on the 19th. I’ll try to share the questions list here ASAP. I request everyone to share their questions so that we can send it to the management team at once (like we always did before conference calls).

Also, whoever gets the chance to talk with the management in the call, please ask them tough questions and make sure that you get proper answers from them.

[AdUp]

Totally agree @Logan. It is great initiative from the management to keep us posted about updates. I wish this signals their new face in corporate governance and investor friendliness. I guess they still have some way to go for it, but this is a step in the right direction. On one hand I am glad that BCG trades just one day as week. Imagine the riot it would have caused if it traded on a daily basis in these dark times. But on the other hand, and more importantly now, we are inching closer and closer to the deadline for revocation, which I guess is somewhere mid of December. There is a lot of retail investor activism as well, and combined with the actions of the management, I seriously hope that we get out of this self-dug grave soon.

Lot of important events lined up for the next few weeks. These will be action packed weeks for sure. Investor call, AGM, Dec 3rd SAT hearing, etc. I expect that they will send out the notification for the conference call together with the weekend updates.

[Logan]

Yes @AdUp, I’m also seeing maturity in their communication. Not sure whether it’s mostly SKR or maybe there’s contribution from Mr.Raghunath and the independent directors also. I’m glad that they’ve finally understood the importance of taking actions and not just saying words. The attitude of taking action only after getting into trouble should also stop.

They’ve mentioned that they’ll hire a KMP and I’m guessing it’ll mostly be for the CS role and not for any other roles. It’ll be a pleasant surprise if they hire a CEO or a CFO or an executive director but my expectations are very low now.

[Logan]

I thought they’d finally do what they say but again there’s postponement of results (not the Q2 of FY25 or Q1 of FY25 but Q4 of FY24) which they were supposed to share 6 months back. There’s no point in having hopes or expectations at all, we’ll be sure that we’ll get disappointment later. It’s only in words that they say they care about shareholders but in reality it’s different.

[Saach]

Dear @Logan, looking into current situation and very difficult position of the company due to adverse acts/deeds of previous management and tough war conditions in the area, no clear and straight option(s) is left for them except to bring the worst condition of the company and do the transformation. In such conditions, I believe, we have to be more patient as shareholders and extend solid support to come up from this type of toughest position. Warmest regards.

[Longplay55]

Dear Forum Members,
I am member of this forum for close to last 5+ years, and gone through so many informative and value-added messages at various times and stages; though i am invested since 2016…..especially info from Logan Sir is value-added, but I presume ( may be wrong as well) as if he has put majority of his eggs in BCG basket, which takes toll on his health….. I have whole hearted sympathy for this gentleman and pray for his health-recovery and blessed life.
Point I want to highlight here is, we have been discussing BCG’s good & bad & ugly days, however now it’s time to act….. it is apparent that new management is taking efforts to emerge from earlier dirt, so we need to vote for BCG’s resolutions and help them change/resolve CG issues. (SKR could be incognito part of new team…..never know). Voting (18th to 20th Nov only) is something like we are helping ourselves by helping them, since we stayed with BCG and chose to lose another good opportunities like Suzlon, R-Power, Infibeam…etc. So do NOT fail to vote, and in case you don’t vote, then don’t raise concerns on company’s issues…..it’s meaningless….. I strongly believe, in democracy correct “voting” works magic.

[Logan]

@Longplay55, my health issues are totally unrelated to BCG and I’ve had it from a long time. Though BCG is a good part of my portfolio, I’ve not put all or majority of my eggs in BCG basket. I’ve diversified sufficiently.

You might think that I’m ranting here but what I’m asking for is accountability from the management. If you remember Mr.Kallol said he’d share the Q2FY24 results in the first week of March but when did the company actually share it? It’s not as if they’re sharing the Q2FY25 results and they had run into some issue and had to delay the results. They’re sharing the Q4FY24 results (which they were supposed to share 6 months back). I know we are seeing progress but how many times have we seen them go back on their words? They said they’d never allow trading suspension to happen but what happened later? What happened to CEO, CFO and CS appointments?

I support the company and support Mr.Raghunath for taking up the role when the company was/is in trouble. I’m not worried about the stock price also, I’ve seen both happening since the day I started investing in BCG – all time lows and all time highs.

I appreciate Mr.Raghunath, Mr.Kallol and the board for taking massive responsibilities at hard times. Others wouldn’t even join companies when the companies are in trouble but these people not only have joined but they’ve also taken the responsibilities and I have massive respect for that but only thing that they have to improve on is being accountable and do what they say.

(History has shown us that if the management isn’t held accountable then they’ll think they can do whatever they want and get away with it. If you remember, we supported SKR all these years and year after year we kept on supporting him even if he wasn’t improving. He not only became lazy but took shareholders for granted and did the fraud. If he were accountable, he’d not have lied to us about his shareholding and he’d not committed the PW fraud. See how much shareholders are suffering because of him and the company’s revenues have also declined massively because of him. Mr.Raghunath, the board and BCG’s employees are also suffering because of SKR’s actions)

[Longplay55]

@Logan ji,
Highly appreciate your response and cent percent agree with your total views on BCG. I hold high regards for your stock-market studies and knowledge, especially BCG; and I do not have even ‘remotest intention’ to hurt your feeling in any way, please note. Since I had chosen to remain invested in BCG inspite of all odds, now what concerns me is their lined-up premium scheduled activities for next 15 days….. today we are expecting Q4-24 results, and my strong belief is that there will be no losses shown in bottom line. Also I am expecting reduced equity capital in SAT order, lets keep our fingers crossed. Whether SKR returns or not, there is nothing much we can do as an individual, but his shrewd business acumen can benefit BCG, and at the end of the day as an investor, I want business growth and subsequent price appreciation…..this does not necessarily mean I support SKR’s unethical character. I would love seeing person like Narayan Murthy there, but it will never happen, so we have to chose only one option from all available on the menu card of BCG.
Good day, Sir ji…..!

[Logan]

Thanks @Longplay55, and I totally understand your views and perspective.

If you remember I had massive respect for SKR and that was because he had the never die attitude and he had always dedicated himself to the company (initially he didn’t have much commitment towards shareholders but later on he was changing that attitude and from early 2019 there was a massive improvement). I’m not sure what made him do that PW fraud, was it pure greed or was it a misstep but that one bad decision made lakhs of people suffer. And to know that the PW allottees didn’t pay a single rupee is like rubbing salt to our wounds. If he wanted only money then all shareholders would’ve voted yes for him to increase his shareholding and no one would’ve objected if he took crores of salary.

SKR has taken few wise decisions, like starting programmatic advertising sooner than most in the market, getting into audio advertising and though the AI trend has picked up from 2022, SKR was talking about it from 2015-16 or maybe even earlier and he had started projects on it but he has also taken decisions that have hurt shareholders badly and the bad decisions overshadow the good decisions.

If you notice, one of the main reasons (not the only reason obviously) for Donald Trump to win the elections is because of his participation in podcasts. Even here podcast trend is growing but it’s very big in the US. With podcasts you can connect with people and you can understand the trend that’s going on. The growth of audio streaming (music and podcasts) is high and SKR wanted to get into that at the right time. Unfortunately I think the audio ad JV with Consumables Inc might be dead and that’s because of SKR only. I don’t know whether he used the acquisition news to do pump and dump but that industry has good growth and is expected to grow even more in the coming years.

Let’s see whether Mr.Raghunath, Mr.Kallol and the board can revive the company and get it back to previous levels. I never wanted BCG without SKR but his betrayal of shareholders made me change my mind. Let SEBI and the honourable judge at the SAT decide what to do with him but we need his guidance for the company to grow. I still want the board to have him on a consultant role because looking at the way the tech world is going (AI especially), we need people like SKR to advise the company.

The negatives are that, if he could manipulate the bank statements then he can manipulate the subsidiaries numbers also and the numbers might not be what was reported previously. This risk is also there but SEBI didn’t say anything about fake revenues when it did the forensic audit.

I hope that everything is real and that we see good days ahead. All shareholders have supported the company through thick and thin and the management should make sure that we see good days ahead.

[whyShares]

BCG declared result.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/986735bc-7255-4c8e-97f6-e45306fc1f81.pdf

[Author]

Posts