[odysee]

Could have, should have..in all likelihood. Wonder what the underlying reasons could be for this twist in the tail. Or tale.
In the meanwhile, a lot of us have no option but to switch focus to the superlative performance of the company in the last few quarters, and the expected solid fourth quarter results. The investor presentation documents submitted to the exchanges last week provided more than a hint of continuing good growth and performance with the projected free cash generated figures being retained.
MediaMint acquisition closure, Audio tech acquisition, FA report, projections for 22-23 etc etc shall be keenly awaited.
The continuing investment interest shown by Institutional investors, both domestic and foreign, shall also be followed with great interest in the coming quarters.
The long standing retail investors on this forum have shown a lot of patience and resilience over the last many years despite many challenges, and, at times, episodes and events causing despair. I trust we can keep the faith.

[odysee]

@vgsatwork, since you will be exiting the BCG stock on Monday, I presume you will be exiting this forum too.
We will miss your comments.

[odysee]

All the good work done by the management over the last many months that changed the perception of the investing community in such a huge positive manner can be undermined by one perceived careless or sloppy mistake by that same management.
Having said that, I still believe that this was an ‘unforced error’ and a perfectly reasonable explanation and rectification should be forthcoming shortly.
All the more reason that the two important vacancies of CFO and CS be filled up expeditiously.

[odysee]

Good points @Logan. You will recall that there was a fair amount of chatter at the time of the preferential issue of convertible warrants at Rs 7.70. But there were possibly very few ‘takers’ outside of the promoter/management known circles as the company credibility was low and some outstanding issues were being blown up by naysayers and company detractors.
Further, the stock was still available in single digits for a longish period of time for the retail investor. The market price had dropped to below the preferential price and there were hardly any takers apart from the old faithful lot on this forum.
But it is time that a financial/ capital market savvy professional is inducted by the management speedily. The positions of CFO or President-Finance or Director Finance as well as the Company Secretary ( and Chief Compliance Officer) must be filled up within this month itself.
You have always spoken of a desired improvement in corporate governance and communication, and even though great strides have been made by the BCG management, the rapid growth/ scale/ expansion / visibility being witnessed now requires a concerted effort by the management.

[odysee]

The shareholding pattern as of 31.3.2022 is likely to be out within the next few days which will provide full disclosure.
Unnecessary speculation with undertones of doubt is unwarranted at this point of time.

[odysee]

Do forgive me @ Deepak. I do not quite understand the point you are making in your assumptions in #13320.
All kinds of conclusions can be arrived at from a ‘what if’ or ‘suppose’ scenarios.
We should deal with facts as they are and what information we have access to. The rest is pure speculation.

[odysee]

I am surprised that there is no covering letter addressed to the Exchanges , or to the shareholders via the Exchanges.
This is dated 16.9.2021, a good 24 weeks ago. Has this been sent by the Company or by SEBI to the Exchanges?
And there is no information as to whether the forensic audit has been completed or ongoing, and what the outcome has been.
SEBI has been granting approvals during this entire period for allotment of shares on a preferential basis to various entities, convertible warrants to Shankar Sharma, as well as the allotment for the MediaMint acquisition.
Would be grateful if someone on this forum can shed some light on this matter.

[odysee]

A pathetic display of unprofessional interviewing by CNBC-TV18.
Discourteous and with no understanding of the nature of the industry that BCG operates in.
The apparent objective was to undermine every statement and explanation being provided by Mr Reddy without any attempt to even understand the content of the answers.
To say that I am disgusted with the behaviour and approach of the ill informed interviewers will be an understatement.

[odysee]

Well summarised @hw_tw.
You have articulated what must be on the mind of all on this forum and the larger retail investor community beyond.
This is truly an incredible performance by Team Brightcom, so ably led by Mr Reddy.
To give a performance guidance for 3 remaining quarters so many months ago was a frightfully brave and ambitious move by Mr Reddy, and apart from the incredulous joy experienced by us all, I’m sure that the intensity and numbers of ‘fingers crossed’ has resulted in quite a few sore digits at this point.
The sheer audacity and determination and belief and commitment and excellence demonstrated by the brilliant Mr Reddy and his colleagues in the Brightcom family deserves a standing ovation from all stakeholders.
Take a bow , Mr Reddy.
And we are confident that the best is yet to come !!
I would be amiss if I were to not express more than a word of appreciation to all fellow forum members and Admin and Logan for keeping this passionate and informed group so very relevant in this incredible and rewarding journey.

[odysee]

Well said @Logan. But it does pain me to see the lack of professionalism in financial reporting and journalism, where no effort is made to provide an objective analysis and interpretation of factual data.
It’s a given that different conclusions may well be arrived at after studying the same set of data and company presentations,depending upon the experience and exposure to financial markets of the particular reporter, but the sheer brazenness of the distortion and the lack of editorial oversight is breathtaking.

[odysee]

@Logan, I was pretty appalled when I read that piece that you are referring to.
Surely, this gross distortion of facts cannot and should not be passed off as just lazy journalism. This is a criminal act in that it has blatantly distorted and twisted factual publicly available published data with the clear intention of misleading thousands of small retail investors who rely on reporting in such publications for their investment decisions.
Wonder if there is any remedial action available to bring to book such reckless and cavalier ‘journalism’.

[odysee]

Good morning @Logan, @Admin and the rest.
In continuation of my post addressed to Logan yesterday, I left out my response to Logan’s comments on the CEO and his (usually) brilliant moves in managing the business and countering obstacles that arose from time to time.
I must have attended almost every single conference call that was held post the quarterly results, and one always came away with a sense of admiration for Mr Reddy and his depth of knowledge about the industry and the business.
His patient and in depth replies to investors’ queries and concerns, some of which would test any CEO’s patience, were impressive indeed, and I always marvelled at his ability to keep his cool. And his very obvious sense of compassion for the older ‘small’ investors who had reposed their faith in him.
I also saw a number of his past recorded interviews, and his writings on tech and the application of tech in our day to day lives, and his vision of what the future holds in that respect.
And I was sold! Hook, line and sinker!
But I could never fathom why a company that was consistently earning Rs 8 plus per Rs 2 fv share for the last 5 years annually, was commanding a market price in single digits.
Not one financial luminary or analyst or market ‘expert’ would have anything positive to say about the company or the management. But the conviction remained, and then this forum so ably managed by Admin saw the introduction of Logan nee Saul Goodman, and many other contributors.
That was a blessing, and the conviction suddenly had a capital ‘C’ in front of it.
And then the genius of the moves made by Mr Reddy and his management team in the last 2 years or so , became evident.
When the company became debt free, we all knew that that was a defining moment for BCG and finally, after many years of struggle, we were truly on the move.
The induction by Mr Reddy of well known and well respected professionals at very senior levels ( who have spent decades in building up their reputations) in the recent past has added immensely to the credibility of the intent and stated prospects of this hitherto grossly underrated enterprise.
Hence, @Logan , I agree with you 100%, that it has been the genius of the unrelenting Mr Suresh Reddy and his timely moves that has brought BCG to the current sweet spot, and the market and its players are sitting up and taking notice of this genuine Indian Multinational which is a very smart player in a true new age industry.

[odysee]

@Logan, I do not think that you can even imagine the level of confidence and belief that you were able to instil in the more astute and loyal members on this forum.
Over the years, doubts persisted but the underlying conviction managed to survive the turbulence one faced as new challenges emerged. And then Saul Goodman appeared; followed by Logan.
That was the turning point!
Doubts diminished, and conviction grew.
As one gained further detailed insights on the company and the industry ( so painstakingly prepared and presented by Logan), the faith and conviction steadily increased.
Today, the ‘bleat of the sheep’ ( I’m guilty for that one ) has been replaced by the ‘song of the lark’.
So, take a bow @ Logan. We are all very grateful for your presence and your delightful and meaningful posts.

[odysee]

@admin, your comments re @Logan in #12945- I would be the first to endorse that. Twice over!
And your admirable handling of this forum and its members. Let us not downplay that either.

[odysee]

Thank you very much @hw_tw. Makes logical sense.
My reference to the ‘quarter on quarter’ expected phenomenal growth was in relation to a longer term perspective, bearing in mind the comments made by Mr Reddy on the expectation of a Multi fold increase in the eps by March 2023, despite a substantial increase in the paid up capital of the company.
I understand that the immediate next 2 quarters are pretty much factored in with the existing resources , and no acquisition related positives have been considered in the projections for March 2022 as well as possibly Quarter 1 of 22-23.
Nevertheless, the observations made by you are very valid and I’m grateful for your considered response.

[odysee]

Very well summarised @hw_tw, and your viewpoint on multiple important issues are much appreciated.
I did note, though, that the acquisition of the DM company cannot be considered a done deal even if the due diligence has been completed. You have rightly pointed out the potential sticking points that may arise, and I would add that the consideration to be paid ( possibly cash plus equity as indicated by SKR in the earlier conference call) could be tricky with the stock price having moved up so significantly from the time the LOI was signed. With the added emphasis on ROE by the management as stressed upon yesterday, I just hope a mutually satisfactory deal can be structured.
Which leads me to a question I was unable to ask yesterday as I didn’t get the opportunity ( luck of the draw or the * and 1 not being punched smartly enough)- does BCG currently have the resources in manpower and otherwise to sustain very high growth rates, quarter on quarter, without an additional back-end resource being acquired expeditiously? I would imagine that the proposed acquisition presently in very advanced stages was to play an important role in buttressing the back-end as well as the expanded marketing thrust that will play a significant role in the plans as articulated by Mr Reddy.
Would appreciate your views as well as those of @Logans and other esteemed fellow forum members.

[odysee]

You’ve nailed it @ Admin.
The focus is clearly Return on Equity and Free Cash Flow.
By re-emphasising on these a couple times, enhancement of shareholder value is very much a priority for Mr Reddy and his core team.
I was particularly impressed by Mr Reddy’s clear minded and precise articulation on queries and matters relating to the proposed acquisition where due diligence is now complete but the next stage is in play, as well as the active search and pursuit of an Audio Ad-tech company/companies in the U.S.
The understanding that the existing and new business opportunities are providing such exciting opportunities for BCG, are a clear indication of phenomenal growth and performance in the foreseeable future.
The strategy developed by the management team and the precise execution thereof in recent quarters, is remarkable and the results are there for all to see, cherish and applaud.
We should never lose sight of the fact the the heavy lifting and incredibly hard work is done by the visionary and indefatigable Mr Reddy , ably supported by his very talented colleagues at all levels of the Organization.
We retail investors are along for the ride-and what a ride it has been.
But then this ride may not have possible for many of us if not for this forum and your bringing on board incredible motivators like @Logan and @hw_tw and others.
The path ahead for BCG has been pretty much laid out by Nr Reddy, and today’s reaffirmation of the revenue and profit guidance provided in August as well as articulation of business plans provide a tremendous sense of confidence to the existing and prospective stakeholders in the company.

[odysee]

Excellent depth and breadth in the questions compiled by @hw_tw and @Logan for the conference call.
My compliments.
The rest of us are spared from exercising our brain cells now.

[odysee]

@ vgsatwork, your comments are well taken.
But the Coy Secretary is never the face of the company, so to speak. I’m sure the management is in the process of identifying and filling that position expeditiously. If the departure of Mr Malloma was somewhat sudden, then it would obviously take some time for a fresh recruitment at that level.
This reporting was for quarterly ( and half-yearly) unaudited results only, as per statutory requirements. And not for providing additional information on future projections or company developments on acquisition or otherwise.
I’m sure some of us can pose all business and company related queries including for LOC, future guidance, Acquisitions etc. at the conference call scheduled for Tuesday 16th November 2021.
Best wishes.

[odysee]

Should be read as ‘A glass half-empty rather than half-full’. Apologies. Muddled expression at this time of the night😊

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