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Also included the report in new ‘Research Report’ tab in this forum, https://brightcominvestors.com/research-report/
Sharing equity research report on Brightcom Group by Amol Bajpai, who is an Global Economist & Equity Research Analyst.
Source: https://www.linkedin.com/feed/update/urn:li:activity:6772774176689397760/
Attachments:
Thanks @Logan for your kind words. I feel fulfilled that the forum is serving the right purpose of providing a fair share of information to all old and new BCG investors alike.
According to my personal experience and interaction, the four pillars of BCG investors strength are Logan, DH, Headstead and Dr. Mayur. All four have the same mindset and contribute for the cause of investor awareness and upliftment. Special thanks to Rathi and team for the real hard work in the ground.
Lets also wish the management the very best to carry out their vision. Lets continue giving our support. One step at a time. All issues get sorted, bringing new set of developments to cheer.
I think, this is the biggest material development after New York court case with Daum back in March 2019. Albeit it took longer than expected, achieving debt free status going through all the odds is not a easy feat. Congratulations to the team Brightcom and all investors for their support.
adminKeymasterThank you everyone for your contributions, especially Vgsatwork and Logan. More than 50 questions were posted. I have rephrased them, combined to one and listed according to a priority which I felt (sorry for that). The questions which I have skipped is due to time limitation of getting all of it answered, list getting lengthy and also some others which can be waited to be addressed in the next quarter.
Below is the final list of questions which I will be sending now,
Preferential Warrants
1. What is the reason for Preferential Warrants with such a huge dilution when LOC was already in advanced stages?2. How are we planning to use Preferential Warrants funds – new products, acquisitions, business expansion? What would be the impact in terms of top line and bottom line?
3. You didn’t even talk about it in the AGM. Such a big event but still nothing was discussed about that. In the AGM, many didn’t get a chance to ask queries due to technical reasons from your end.
LOC update
4. Last update on this topic was on 13th Nov 2020 and it said company is in advanced stages of setting up first tranche of the LOC application process. This is particularly important since while the entire ad tech industry is growing at a very healthy pace of 20%+, BCG’s top line growth is flat for the last 3 years and there has been no attempt from the management side to address the top line growth issue and based on earlier updates, the impeding factor seems to be capital.Axis update
5. On 13th Aug 2020 an update was provided through stock exchanges which in essence stated that BCG has sent a formal proposal to Axis and awaiting response from Axis Bank. We have recently seen an update on 15th Feb 2021, which is stating pretty much the same thing after 6 months and the matter still is in NCLT court. Why is the company not closing this issue when the preferential issue was being raised with the stated objective of closing existing debts?6. There have been reports from the NCLT hearing that AXIS bank has blocked this preferential issue money citing the fund that they are being owed? Why is there no update to the shareholders from the company to clarify on this? The case being in NCLT is causing lot of uncertainty.
7. What is the settlement amount proposed to Axis and timeline? Which segments of business will be impacted by this payment or by delay in the settlement
Daum Settlement
8. What is the latest on this? When can we expect a closure?Consolidation of subsidiaries into one entity
9. Update on the same was provided to exchanges last in Feb 2020. What is the latest update on this? When would the new entity be created?10. BDO Audit – Last update on this topic was in June 2020 saying that audit was in progress. What is happening on this? Would this audit report be made available to the shareholders? If not, with whom such a report would be shared with?
Quarterly Results
11. Given the elections and covid season, why there was not much growth in sales and profits. December quarter is usually the best quarter for BCG but this time there’s no growth in revenues or profits when we compare results Y-O-Y. Many adtech companies, including bigger companies like Google and Facebook have had greater growth rates in the December quarter.12. We would appreciate if the company provides revenue break-up of SSP, DSP, DMP and CTV businesses.
13. Can the management confirm that the books of account and the results confirmed by our Board of Directors, of each and every subsidiary , are audited by their local auditors in compliance with the local laws and regulations prevailing in those countries?
14. Last year other receivables were 530crs and this year they are 150crs. What are these and how are we supposed to know what these are? Nothing about this is mentioned in the Annual Report.
Investor meet update
15. Last update on this topic was in early June. No further update in terms of whether or not the investor meet happened and to which investor groups these presentation were being made? Till date, we do not see any institutional shareholding in BCG. Is it because investors are concerned about pending legal issues? What is management’s plan to address this?
16. There’s so much manipulation going on with the company’s shares. Operators are controlling everything. What measures are you taking to handle this issue? When asked about this the last time, you said you have arranged stable investors to buy shares. What’s the progress on that?
Investors’ Exits
17. Many investors who held significant quantity have completely sold their shares and this raises many questions/suspicions/doubts. We know this involves other parties but giving clarity on this will be appreciated by all the shareholders. There’s so much talk going on about this in the market and giving clarity will clear all the confusions that shareholders/potential investors have.18. The Goenka Group, which held significant quantity in the company, have sold all their shares in just one quarter. What’s the reason for this? Their selling raises many suspicions like – they held their shares till the PW got approved and exited soon afterwards.
Corporate Governance/Market/Dividends
19. Some of us still haven’t received dividends from the company. We send mails to the IR Department, asking them about the dividends, they won’t reply to us. If we ask Aarthi Consultants, they say that the company has not communicated with them regarding dividends. Whom should we contact to get even basic information? Its not how much dividend amount we are getting but its about the company’s commitment and transparency.20. The market perception/sentiment towards the company is very poor/negative. Your actions aren’t helping it get any better. For eg – you decided to do a massive dilution but didn’t inform the shareholders as to why you’re doing that. You announced dividends more than 6 months back and you had all the time to sort out any issue with the payment but still you delayed the payment (and still haven’t paid to many investors). You said you have arranged buyers for OAK’s shares but they decided to dump their shares. How are we supposed to trust what you say when you have always ignored/neglected shareholders?
adminKeymaster@DH – Your post #10786 was automatically spammed by Akismet tool (please see screenshot). Here nobody can delete anyone’s post but can be marked as spam. Please let me know if any of the post gets disappear, I will retrieve it as and when I get time.
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6+@Remesh – The other day you had wirtten in MMB taking a jibe at drjaysee. It is not about using which platform, but to see that you respect all the members here in all the platforms.
1+@remesh – Have been noticing from some days that you are active here in the discussions and yet take opposite position in the MMB forum. This is not an expected behavior.
What you have posted in MMB today – “Anyway, as this is a company which communicates only with selected people, I dont know whether they are paying dividends also to selected people LOL.”
Not only it is disrespecting Hyderabad representatives but all of us here. It was us who planned that it was urgent to meet the management to get clarifications and not the other way around.
The biggest issue is with corporate governance and our effort should be to unite and see that it gets corrected. We should not defame the company in which we have invested is what I believe.
@imposiblznuthin – thank you. MMB guys are predicting I will be blocking DH. I wont be blocking someone unless they turn derogative. Here all are free to share any information they have. I don’t delete any posts unlike they do in MMB. Pranil has clarified that he was not blocked, but he chose to stop writing here. 108Bullguru, I had to mute him (not blocked) for multiple reasons, because he was posting same things, often creating multiple threads on same day and for other various reasons especially taking sudden U-turn along with Shoumik thereby confusing all retailers here.
I would request Logan and Diana to stop targeting each other and focus on sharing important information. You are free to write anything but keep in mind that we all maintain harmony. Certain elements would be looking for the unity among us to be divided. In this tough times it is important to stay united.
We have seen questions been raised against Hyd representatives and yesterday with drjaysee. Common, we all know that how all these originated through discussions here and we should not forget that when we hear someone coming with new theories.
I had personally verified the contacts of Hyderabad members and helped each of them connect together. Until now I had only heard people questioning this forum and now the desperations is making even doubt the forum members as well. I would sincerely like to thank @rathi & team for all your contributions so far. As it happens in life, even when you do something with good intentions you recieve flak. Nobody can stop you to from visiting the company, as it is every investor’s right, however I would request you guys not to share the outcome here.
@j-bedi – What you have said is right to some extent if spoken generally, but you should also understand how all this culminated. I am sure as an investor you are making use of this forum for a purpose. Its been more than a year we all are associating to keep ourselves informed and share knowledge with everyone. @rathi_b & team have met through this forum and putting effort to meet the management risking at this pandemic time. The sole purpose of the decision to meet was to soothe the nerves of all of us here at one point of time when the things were very difficult. The meeting is not to get any insider information but to get an indication that things are progressing well from the words and the body language of the management. I want to quote again Logan’s ending statement “Not just the Hyderabad members but many other shareholders have met the CEO in past. The forum members share the details in this forum but others won’t.”
We investors admire writings and thoughts of both Logan and DH. You have said you respect each other and I remember you had planned to meet this AGM, unfortunately this time it could not work. In any instance when you have divergent views then it is perfectly alright, but see that it doesn’t personally affect any of you. We all have a common goal and let’s see that how we all reach there.
Merry Christmas to all. Hope all are doing good and waiting for exciting and prosperous new year!!
If you have any questions to be answered in the AGM, please post it here. Will be mailing it to IR tomorrow. In the notice they’ve mentioned that we should send them 2 days before.
Sub: Presentation on “Seasonal Trends of Digital Spending”
Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 this is with reference to the subject cited above, we are enclosing a presentation on Seasonal Trends of Digital Spending proposed to be made there at, to the analysts and investor community.
Source: BSE Notification Dec 14 2020
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Sub: Annual Report of Brightcom Group Limited for FY 2019-20
Pursuant to the provisions of Regulation 34 of the SEBI (LODR) Regulations, 2015 we are enclosing herewith a copy of Annual Report of the Company for financial year 2019-20.https://www.bseindia.com/xml-data/corpfiling/AttachLive/e88527b5-6d5e-4c23-a4fc-8290cd7ee95f.pdf
Source: BSE Notification Dec 06 2020
Warrant allotee list is also available in the AGM notice published.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/ceb911c9-89dd-4fc3-9b60-977f197db1cc.pdf
2+November 25, 2020 at 10:39 am in reply to: Poll: Which event do you think had the biggest effect? #9408Thanks @Raj, All of these events has effected significantly but the objective of the poll is to identify the single most event which made the biggest impact. Adding ‘all of these’ option would not help us to arrive at a conclusion in case most of the votes goes there. At the end of this poll, we hope to understand the general market sentiments. Logan can explain much better on this idea.
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