[kmr003]

I have drafted the change.org/petitions, Please let me know any corrections

About Company

Brightcom Group (BSE: 532368 , NSE : BCG ) is a public listed company , leading global provider of comprehensive online or digital marketing services, has over 20+ years of experience also included in NSE 500 list, ISIN Code INE425B01027
As per company published results Brightcom group is financially sound with last year Sales of 5,020 Cr, net profit of 912 Cr and net cash flow of 618 Cr, Total Assets of 7,030 Cr .
We trusted on SEBI, and we assume all published results, SEBI has close watch on accounting frauds.
As per published records BCG is growing at faster rate than other listed IT companies over last few years, We group of long term investors invested in BCG at various stages, starting from 2 Rs to 120 Rs, We believed in growth of company.

About Concerns from retail investors

BCG price has given negative return of 80-89 % over past 2 years, We believe market will have corrections, but we feel BCG management attitude and carelessness is main reason for this, not addressing investors concerns are the main reason for this major fall.
1. Management never follows corporate governance (CG), breaching CG is common for BCG, few are
dividends credit, bonus credit, publishing results on time, AGM on time
2. In Conference call CEO will promise few action items- but it will never be done on time
3. Few legacy issues like DAUM, loan, appointment of CFO, CS company is dragged and still dragging in few, but CEO will give false promise of resolving in weeks / months.
4. Currently Company accounting books under SEBI’s forensic audit, but this was published even after 4 months of notice from SEBI.
5.Compnay has raised funds to acquisitions. it took almost 1.5 years to publish name of acquisitions. later it got cancelled and converted into joint venture.

What changes we need, This is need of hour

1. To Change the CEO of Company, currently Mr Suresh Kumar Reddy,
We have huge respect on him, in terms of growth of company, business and product development, but not right person for public listed company, Mr Suresh Kumar Reddy failed to implement every Corporate governance actions, to name long list.

Hire reputed CEO, who has proven experience to handle the situation.

2. Appointment of one board of director from retail investors side,
there are 4 lakh retail investors active

[kmr003]

@Logan

To appoint a board member from retail investors side, @admin , shall we collect the number of shares and name of person, we will have proof to show BCG mgmt and we are ready to travel Hyderabad office to meet BCG mgmt to discuss on same / will take Hyd team help

We will have strength as no of shares and persons to show proof.

OR Can we have petition in https://www.change.org/petitions , we will have no of votes visible there, to show Shankar Sharma sir , SKR ?

I do’t think BCG is working towards creating value for investors. Cannot see single action from them from last 1 year

[kmr003]

@Rathi_b sir, did you get any update for meet up with mgmt,

Brightcom Group, Investors lost confidence and trust on BCG management.it is very hard to restore once broken.

The question to mgmt is, they are willing to make big investor friendly steps or not ? How quick ?is most important.

If mgmt promises now, definitely it will take 3-4 years minimum, (past records says)

I personally feel. SKR should step down and give opportunity to proven leadership, this is not easy as I say.

Because market is not trusting him. No big investor turing even trading at less than 4 PE. PAT of 900+ cr

Immature past actions by SKR.
( Not one or two we can list 10s of his actions )

High time, he should retrospect and step down and work on improving growth of business and products development of BCG.

[kmr003]

@Rathi_b and team met SKR and had a discussion, Hope it was two months ago.
I personally don’t see any improvement in CG.

I don’t think DAUM Settlement will bring stability to price.
Share holders lost the trust on SKR and Management, BCG is least bothered about shareholders wealth eroded in last 1 year,
but BCG still repeating same sentences will improve CG.

Now they should work in rocket speed to improve transparency and CG. and take some extradentary steps to bring confidence back
(like clean FA output / Buy back / ESOP / dividends / reputed hires )

I personally see only talks on ground no work .
last hope Shankar Sharma Sir should step in and ask him to take steps quicker.

[kmr003]

As investor it deep pain to see, even after fabulous numbers
market is not interested and recognizing the growth story,

1. BCG management should understand real growth comes when shareholders value is created . It is high time SKR should change his attitude how to run public company.

2. SKR should appoint credible / trustworthy / experienced management persons to board OR if he is replaced (don’t think it will happen) . I’m sure market will cheer .

3. SKR very slow in addressing the shareholders concerns , I don’t think they are bothered about shareholders wealth eroded in last year.

4.To bring trust in markets,
We should raise concern to appoint big 4 as consolidated auditors ,
Release Audited numbers of subsidiaries.
Consider buy back, ESOP
Promotors share holding issues to be resolved earliest .
Investor meet for DII, and bring some reputed investors to buy

5. Every one on social media mocking results. making fun of results as manipulated results . It seriously hurts as investor. Dot know how it is for SKR

Requesting @admin and everyone (telegram) to raise concern to appoint big 4 as BCG auditor in next FY. at least this brings some trust in market

[kmr003]

It is deep pain to see BCG is 2022 worst performers,

As a long term investor frustrated as like many investors with same repeated mistakes from BCG management,

@Rathi_b , Sorry to bother you again and again, your messages years back given confidence,

Can you please tell me, Did SKR responses shown his intensions to resolve issues and bring transparency, and stock growth ? or met for sympathy of retail investors.

Franky bro I’m in blank, whole crowd is against, your input will bring some confidence, Thank you

Hope 2023 will be good for BCG

[kmr003]

My personal take away from last CC

1. I sense SKR avoided questions this time,
evey question was pointing towards delayed actions by Mgmt on ongoing progress of updates

2. I personally feel, SKR is going to take his own time, be it share pledge release / DII analyst meet / Org restructuring / legal issues

We have seen this in axis loan closure also.

3. My personal view to resolve all existing items it may take 1.5-2 years ( as per history of his timelines) Do not know what new issues come by that time. Better not to follow daily price. Leave for long term, as did in 2015-2018, (rewards are 10X from that point)

4. My personal view – better he should hire few reputed experts and follow their advice.
We know they are hard working and have put heart and souls for BCG growth.

[kmr003]

@Admin few more

1. What actions / steps BCG is taking to get fair market valuation , We do not see any reputed DII invested . and BCG is not even  conducting analyst calls. 

2. Mr. Suresh Sir informed BCG organizational restructuring is going  on and will bring global auditors – How much time will this take ? 

3. There is confusion in the Share holding pattern . Morning context has published news on same.
 Can you please give clarifications 

[kmr003]

In board meeting they should also discuss on dividend crediting ASAP.
else they will delay and create unnecessary CG issue.

Most of Companies credit with in 15 days of AGM. (ex: Vedanta, TataSteel)
SKR should be proactive, should have dedicated team for CG.
Don’t know why so slow in implementing the process in place. been telling from last 2-3 years.

[kmr003]

I think this conference call investors should ask tough questions to mgmt. about issues and transparency, even small unresolved issues turning it into big. (example bonus credit)

I’m confident on growth of BCG business .

> Market values higher PE not only to business, values more to transparent, reliable easy to access mgmt. BCG should realize this and change.
Onboard few trusted market veterans to board / mgmt. (like Mr.Peshwa Acharya)
> Higher priority should be given to BCG reputation by resolving pending issues, and transparency
> dedicated team for investors relations, they keep on promising same from many calls, Even now emails, calls unanswered.

[kmr003]

BCG, should act faster on few pending issues / in progress

1 Update on media mint acquisition and number adding to standalone.
2. Daum, Forensic audit updates
3. Audio company acquisition
4. Pledge shares release.
5. Early release of quarterly results, Investor meet updates, and annual report, AGM.
6. Company website updates. and look n feel, ( i personally feel it is old design for M.cap of 10k )
7. Investor response team as promised by SKR.

[kmr003]

what ever recognition BCG gained in investors circle, they are loosing day by day,

1. Few updates they give to exchange are not up to standards, they even make spelling mistakes, year date etc.
2. The website of BCG is not even updated, still has old data of CS and CFO, Home page is not informative. Look at other company sites for reference. how good they are. BCG home web site clearly it does not fit 5000cr Sales company.

3. Management is clearly lacking investor communication and presentation skills. This has been issue from investors from last 5 years every CC . but SKR is not prioritized.

4. Big investors always prefer management guys who are reachable. I did not received any email response from last 5 years. (written more than 30+ emails)
these are reasons community is stayed away from BCG for many years

5. My personal opinion. by seeing from last 7-8 years. I don’t think he will change overnight. (last year was best opportunity for him, he lost)

They should realize this as early as possible, Best option is SRK should onboard some reputed guys from reputed companies or should offer them his post to bring credibility and respect in investors community.

Investor community should initiate this change. we should have some voting or petition to understand their mistakes.

[kmr003]

@Rathi_b , Thanks a lot, you are savior again.
@Logan has posted most of queries,

Few points to stress,
1) Now BCG is not small cap like earlier, it is mid cap, (for some time this FY even large cap).
2) It is high time to change the past behavior and shift towards transparent CG.

3) Once Investor trust is lost, Very tough to regain. We experienced from last 8+ years. Why to spoil again.

4) Sentiment is fully negative. I personally feel can be changed by reputed management hiring from BIG companies and with transparent communication time to time.

5) They cannot run like earlier, if they do so, market will punish them hardly

[kmr003]

Perticularly in twitter, so called analysts, every tom n dick comments on company based on price,
They purely play for 20% returns.
Im sure they will never be part of multibagger stocks not only BCG, any other companies..

Personal opinion, BCG Q4 results are fentastic,very good dividend .30 Paisa, I understand CG they should improve, this is there from very long time,
hope they will work n resolve this year n move on 😀

[kmr003]

@conservative_indian, your technical analysis in Oct 2020 on monthly chart you said

“So, this pattern has to complete once the correction is over.. I expect 100% Fibonacci level for coming leg of rally at 22.5!!”, now monthly closing on BSE is at your TA chart levels.

Request you to please share new technical analysis and pattern BCG is developing, that will be helpful

[kmr003]

My personal opinion

1) I don’t think DAUM,LOC acquisition will be done before ESOP, I think they have and know timeline and came with ESOP
2) I see Q4 results as normal as SKR told required LOC for growth in numbers, and expect do not expect big dividend bz funds will be allocated for ESOP also,
3) I think from Aug,Sep onwards 3-5% liquidity also reduces and we can see long waiting items will be resolved one by one.
4) Definitely LOC will be turnaround story for BCG brand and growth. hope it will be done ASAP.

[kmr003]

1) It had been more than month BCG got access bro PW amount, no visible action seen
2) It has been more than 6 months LOC timeline crossed – no updates
3) DAUM – no updates
4) Investors Relationship – no reply
5) SKR is too slow in execution, high time to change his behaviour towards market update
6) if SKR don’t want to share any updates/false updates to investors, why to be listed public company

[kmr003]

Initially Mr. SKR promised LOC will be done in 4 months, this is 8th month no update,
To boost credibility of BCG and big investors to pick

1) Life line is LOC by U.S big bank or Lender
2) Showing growth for 2 or more Quarters ,
3) Settling the legal issues with DAUM
4) Making use of PW, PO funds for new initiatives
5) Improve Corporate governance,
6) Mr. SKR should avoid giving false timelines
7) Mr. SKR Should should implement things little faster, things are moving very slow.
for example : 2-3 yrs back had updated retail investors queries will be addressed faster , still no one gets even acklowdeged email.

Hope by end of this Quarter 1 at least we will get some good news,

[kmr003]

Feels frustrated, every issues are Mgmt is dragging to extent, and creating new issues like dividends not crediting on time,
Corporate governance lows evry time

1) SKR never stands by his words, it is difficult to believe him, i.e reason big investors are stayed
2) not once or twice, every time broke timeline,seems like he is well aware of PW,n deliberately given miss info.
3) To bring trust in bigger investors community, he should think of appointing new CEO and resolving issues ASAP.
4) If he stys as CEO, my personal opinion is continue to fool retail investors and no big investors will enter easily seeing his past promises

[kmr003]

@Rathi_b thank you,
Please consider questions
1)Why PW @7.7, (as per sebi guideline) it not even @EPS,
2)LOC status ?
3)How long BCG required to close pending issues (DAUM,Axis,Consolidations,Pledge release)
4)why did not bring reputed investors to P.W
5)Wt SKR should tell about retail investors invested for 7-8 years are patiently waiting for his promises to complete (on every con call he told issues will be resolved in 1 to 2 quarters from last 7 Con calls)

[Author]

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