Vakrangee can easily list all its Kendra’s, address and phone numbers (not a common number) to clear the cloud over the number of genuine Kendra’s they have.
Unfortunately they are saying they don’t know and need to audit.
I also thought the same. But why they are not doing this raises the concern. 70% Market cap has eroded in few months and still they are giving reasons like they are in slum areas so its difficult to find. This is not digestible. Even if its in slum area what is wrong in giving address. Whomsoever wants to visit will go and check.
i do not understand if after such repeated lower circuits we still need confirmation we should leave stock market.it needs no further digging at all
Vakrangee is an unreliable management. It would take another 96 more days for the stock to become Re.1 from this level at 5% every day.
why would FPI/FLL are still in this stock? march shareholding pattern shows 588 with total of 29.12 and LIC has 6.34% stake…while only 4 MF has very micro stake few 1000’s shares though…So even FLL are not getting exit?
It does not matter. Fundamentals of the company speaks more than who holds the stock. The management could have solved this problem easily if they could shown the proof of Kendras. Telling the investors that they need to audit and confirm shows the negligence and manipulation of the management. It’s a classic case of “Abimanyu traversal.”
Those who entered are unable to exit.
I think they now have another source of revenue Their home page has a link in very bright red color called click here to shop on amazon. it takes to amazon site with a referral code. so they targeting even the urban consumers.
This definitely does not look like what a company worth (a few weeks back :)) ~$8 Billion would do!
As per page 88 of its annual report of 2017 around 36% of turnover is from E governance and balance from Vakrangee Kendra’s. The book value of computers and peripherals has come to 1 crore from 111 crores in the previous year. Valuation of computers in 2016 was 964 crores which has come down to 17 crores in 2017 after disposal of computers worth 948 crores and addition of computers worth 1 crore. How come business is running with 17 crore worth of computers against 964 crores in the previous year. There is a cash balance of around 577 crores comprising current account and deposit account with banks. Will Vakrangee inform the reason for such disposal of computers and details of banks in which it is holding these deposits. Bargain hunters will find it difficult to support the stock if they think that it is another Satyam computer.
The explaination for the above I had read somewhere, I guess I reaad it in their investor presentation. They were intially in e-governance business and wanted to completely move out of it. As a result to pay off the debt and move out of the business computers were sold. This was written as a exxplaination.
Wouldn’t it be wiser to assume that these computers were never there. Forensics and the art of triangulation of Amit Mantri was interesting.
Go back 10 years down the line and check annual reports. Life will be more interesting Though was aware that this is a complete avoid , read last 10 years of AR ,specially mgmt commentary for academic reasons n I was shocked how Inna year whole vision changes, business model changes without change in operations , asset structure etc etc. So easy doing all businesses in the world n changing so smoothly on paper without changing anything . These changes I came to know we’re based on what was hot in market at that time from doc mgmt to e governance to adhar etc. I worked in an industry which has close relation to this model n it’s a shitty model from margins perspective . Hope, each of us keep learning from various tuition fee we pay at different juncture of life .
Just wondering why Government of Singapore invested recently.
This indeed is intriguing
After so much of speculation about the company… With no proof what so
- Not even one of their customers have broken off their partnership with
- All the banks may be declaring vakrangee outlets as their outlets to
RBI… So, all the people making allegations are smarter than the banks who
will declare vakrangees outlets without checking them
- And vakrangee has recently appointed Grant Thornton and bbdo as their
consultants… Why would they want to associate with a Co with such
allegations if the allegations are true…and will vakrangee expect these
cos also be hand in glove with them, if indeed everything is shady…
Time will give the answer… If the answer is positive for vakrangee, it is
a great buying opportunity now…
what i observed is when it is hitting LC there was around 2,3 or 4 Lakhs taken as 100% delivery…but when the UC started hitting from lows of 113…in last 2 days Cr’s of shares are traded…today 2.8Cr are traded…i think some one maybe dumping or either way…only time will tell this who is wrong or right
The market cap of the co has come to around 1/4th.Had there been no issues
in the company and valuation had been better, the promoters would HV bought
shares themselves.Moreover, promoters had in the past announced buy back
when share went down due to controversies, but nothing has been announced.I
strongly feel there are issues which are yet to come in public domain and
are the reason for this downfall