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Brightcom Group : The Dark Side

Talks about corporate governance issues and business

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SEBI ordered Forensic Audit in Sept-21 which was not disclosed. This is the same time when company was completing preferential issue.

Even if they received reply from SEBI on 25th Feb, why it was not disclosed earlier and disclosed only after stock exch discl ImageImage
SEBI Forensic Audit covers
Impairment of Assets
Manipulation of Books of Accounts
Fund Diversion / Siphoning
Misrepresentation of information

While clarification focused only on Impairment of Assets
Also , SEBI letter not copied to NSE & BSE
Read 38 tweets
@suru27 #BrightcomGroup #Brightcom
is a running scam at its peak now
1. Hundreds of crores of profits are shown in unaudited overseas subsidiaries. Page 148 Annual Report.
2. The profits are written off in Cashflow Statements to avoid showin negative EPS. Page 152-3 Annual Report.
@suru27 3. #BrightcomGroup has been making Rs 400cr profits PA since 2016 .
4. No analyst coverage .
5. Defaults on 75cr Bank Loans to Canara Bank Axis Bank .
6. Default in advance tax payment.
7. Places equity to unknown Institutions HNI cheap 1-3 PE , equity more than doubled.
@suru27 8 . Shankar Sharma takes up warrants. Talks about it on TV , Twitter.
9. Nonstop Upper Circuits.
10 . Management making very positive forward looking statements .
11. Shareholders ask for Big 5 Auditor & comprehensive audit for years management avoids .
Read 5 tweets
#brightcom (high risk high return)
CMP: 10.45

Target: 10-25-50% / 2x / 4x / higher
SL: 7
Timeframe: 2-5 yrs

Best Buy range: 7-9

Allocate 1-2% of #Portfolio

Analysis in Comments

Please do your due diligence

#brightcomgroup #StockMarket #NSE #BSE #StocksToWatch #bcg

👉Recently became debt free (biggest positive)
👉PE 1.18
👉BV 55
👉Fortune 500 #India Company
👉FII up stake in last qtr
👉Paid Div after 4 yrs
👉400+cr in last 4 yrs
👉Bigger than #Affle
👉22 Office Location

Business Segments:
👉New age Technologies
Read 9 tweets

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