What a learning experience! It is clear that the future is only downhill for Byke from hereon. No wonder stock price was heading south every day. An Equitymaster recommendation, so did not delve deep before investing. Fortunately the loss is only in the thousands and not in lakhs. Purchase price is 155.
Same case for me(equitymaster)and is ,luckily,in thousands.Though it is bike but I would like to know about Skipper from learned members…
No conference call. No explanation in Press Release.
Disappointing. No option but to hold for any remote chance of operator driven upward journey.
Disclosure: Invested at higher levels
A very very expensive lesson for me. This was my second smallest position but when I exited this stock, it turned out to be the biggest(both in terms of percentage and in absolute value) loss in my 15 year investment life. I had pretty big losses(unrealized) during 2008-09 but I held on to few good stocks and the same stocks gave fantastic returns. I was thinking I will have similar patience with this one but now I know how wrong I was. Balance sheets can be fictional, most probably nothing will happen to those who cook up the numbers 
2 Likes
A simple introspection post any lesson is to sleep over it and ask yourself would you have sold off if
-
If Byke had reported the same result in 2017 - & had said we are moving out of room chartering as competition has increased in that space and margins have become unreasonable ?? . We are taking write off in lieu of that . Secondly now our focus is more on managing lease hotels and we have expanded revenue in the same by 7% and increased room count by 15% .
-
If Byke had released the result and not spoken any thing and price would have gone up .
While I too acknowledge there are lessons to be learned in every investing … We need to understand what prompts our action is it Business change or stock price change .
In my case I overestimated potential of room chartering business … But I have not still sold off and may not sell off in near future … as I am using this case to understand budget hotel industry …
5 Likes
Yes even I agree… I am still 100% not convinced that something is wrong as it has not been proved. While people like us may turn out to be fools in future when the truth (if any) comes out. I am loosing my remaining 20% (as already 80% price fell). Considering the market sentiments and whole small caps in itself down, I won’t mind taking this risk.
Again views are personal
Disclosure: Invested
1 Like
More than the fall in the stock price, it’s the management’s attitude and reluctance to help the retail shareholders which is a concern.
The stock is 85% from the top, there has been severe drop in profits for this quarter and too much pessimism surrounding the company.However, there has been no communication from the management over this, which raises questions over the integrity of the management (read corporate governance). The press release should have ideally included explanation on the massive loss, which has eroded all the profits for the quarter. There is not even a mention of the nature of such loss. Moreover, the management has conveniently decided against even holding a con-call. Yes, its a small stock and promoters can be busy, but at this point, nothing appears to be more important than trying to help the minority shareholders who have lost considerable amount of wealth.
Changing business model is acceptable, but management ignoring the retail shareholders altogether raises serious issues. This of course is in addition to the red flags raised by several other members.
So while I may still hold the shares (same reason for lost 80% value), but its more or less a lost cause.
3 Likes
credit rating downgraded
http://www.careratings.com/upload/CompanyFiles/PR/The%20Byke%20Hospitality%20Limited-02-19-2019.pdf
3 Likes
War of words between investor and sunil patodia
It’s not important whether Byke bounces back or not. Important is , someone was having information that chartering business will report losses. Which leaves a bad and shady impression of management.
Would be good to see SHP changes
Disclosure: Invested ND learning
1 Like
Byke is making their presence feel by advertising their banquets and festival offers on FB. Going digital…better late than never
Has anybody talked to the management recently? The fall in stock price recently has been pretty crazy, although it seems like a FPI selling into thinly traded volumes in the middle of a bear market. Fundamentally, it looks like the chartering business has fallen apart but given management’s intention to discontinue that line of business the share price is still too low. Are there any news/signs of fraud or misstatement of financials?
There are important posts from @phreakv6 above in thread wrt viscious cycle by promoter entities of Choice International, Byke Hospitality, etc.
Keeping invested in this company is a high risk thing. Although whenever you meet promoters and attend AGM , you will feel everything is okay. But as a investor much more needs to be dig into.
Disclosure: Invested and watching all developments
Another set of highly disappointing numbers (or should I say fraudulent numbers) from the company. Clearly, all the apprehensions raised by some of the people on the forum were right. The management is not interested (no intimations/presentations/con calls) and that perhaps shows its intentions.
Finally took the plunge and decided to get out. Hard lessons learned.
All the best to all those still invested.
3 Likes
Seriously …in name of Chartering Business management is doing all fraudulent activities and booking losses.
Moreover there was a stint to keep share price in control by declaring ‘to consider dividend’ …
Bad experience…
1 Like
Had a discussion with Company Secretary. Looks like they are planning for a conference call and investor presentation.
Disc: Had shares earlier. Not now .
1 Like
Ray of hope
Conference call to be held
Disclosure: Holding and watching developments. No averaging
Anybody having the concall transcript?
Why did the company suddenly face the onslaught of the app based aggregators in H2 of FY19? MMT/Oyo has been there for quite sometime…right?
1 Like
We choose what we wish to believe… the explanation given does not seem palatable. Has anyone checked out the real business… Management though strongly committed working towards getting back to track
1 Like