Q1 results have been declared and now there is a clear cut signal of slow and gradual turn around.Total Income has grown by 48.56%.(yoy). Net profit has grown by 44.14%(yoy). As the company continues to improve topline and bottommline, the worst days of the company are over.
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Can you trust the management now ? They cheated the share holders in the past by manipulating financials. I know since I lost a lot of money by trusting their manipulated financials. After they were exposed, I think by Karvy, stock tanked from about 200 to single digit.
P & L should never be taken in isolation. Are you sure you can believe their present published numbers ? In the past those were manipulated.
As per report in Times of India, DBS has registered a complaint against Bengaluru-headquartered Opto Circuits (India) Limited, a medical technology company, alleging the latter defaulted on a Rs 178 crore loan and also falsified information in its audit.
DBS alleged that the firm, which is an export-oriented company, provided wrong information to the Securities and Exchange Board of India (SEBI), income tax department and other regulatory bodies in India. Nine people, including the company’s founder Vinod Ramnani and chartered accountant BV Swamy, have been named as accused.
The complaint was filed by Nitin Parmar, an employee at DBS’ Mumbai branch in Nariman Point. He said the cheating was unearthed when bank officials went through the audited copies of the bank balance sheet for 2015-2016.
“The firm’s auditor had intentionally hidden the fact that there was a mammoth bank loan against the firm. The balance sheet had no mention of the loan taken during 2008. When we checked, we discovered the firm had told its investors they had repaid the full loan by selling a property in Singapore. This was a false claim. Similarly, the same balance sheet was submitted to SEBI and the I-T department,” the complainant said.
This thread is a classic study. At the start of this thread, this company was projected as the next multibagger and the best company to have in portfolio,and after 11 years, it has destoyed almost 99% wealth of the investor. And at the start, the best and prudent analyst minds were going over the top in describing the future prospects of this company. This goes on to show that, even the best stock analysts and best informed investors and those talk with management frequently…can also go blatantly wrong.
I don’t think so. It is possible that the minds you were referring to, may have not had much experience 12 years ago. So they were not very matured investors at that point of time, they too were new investors, who I presume may have seen only 2008 crisis, and their replies stopped soon. They did not have many posts to their names, the thread itself has just 65 posts.
There are a few threads with hundreds of replies, with active participation from many members, for long periods, Vakrangee, Manpasand, 8k Miles, Talwaklars etc fit the description.
I was a complete newbie when I started invested a few years ago, I have become a better investor now, so when I look back at my first few posts, I laugh at my own ignorance, thanks to VP.
And if you really want to look at how some members have evolved, you can check this thread, in you did not already.
