25 borrowers
26 NCD holder’s total family of 51.
I dont think they have more than 5 employees.
Than how other expense could go beyond 25lacs.
They have “managed” 1.5cr other expenses.
Disc. Invested
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Other expense is the NPA provisioning they have done (no one can have 0 NPA in wholesale lending after 4 years) or other expense might be just hidden salary in the account of promoters…
I guess second opinion is right , for the first one its shown as " Impairment losses".
They have delayed interest of 28 lacs only. As they r charging only interest its not EMI.
DISC. INVESTED
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All investors has to mail Ms.Urmi Joisar or Mrs.Rachna singi , and ask about that 1.5cr other expense.
Laws in india are such that small investors cant do anything, as she is CA she is lawfully doing this gambling.
Stock were held by more than 500 small investors.
Disc. I own some stocks,
I am in similar business , i can clearly see expenses cant be more than 20 lacs.
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QGO’s 29h Annual General Meeting is schedule on 12 August, 2022 through Video Conferencing.
Does anybody have an AGM meeting link? I’m having an error on the CDSL page.
If you holds any quantity than read it carefully…
1)I personally knows the management very well,
2)from the 1st day i doubt on their honest and integrity.
3)If you owns any share ask Mrs.Rachna to stop such practices how can u spend 39 lacs on travelling in 1 yr. and about 1 cr in 3 years.
4)If she wants money than she can take higher salary ! but she even dont want to pay taxes than how she will rewards share holder.
5)i have lodged complained on BSE investor protection cell and even in Enforcement directorates (ED) listed entity whistle blower committee.
Disc .:- I sold my holding.
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This is a responsible public forum. Please chose your words carefully.
Does anyone here following this nano cap? QGO is doing well in every consecutive Qs.
I just bought a tracking position.
my sense is that they have not scaled the business despite being in business from so many years, So the are doing good business, growing slowly, having good salary, and looks like everything is being done by management.
The have not done very good with delegating work or they wanted the business to be in their full control and run it in a natural way. My intuition is once they come close to retirement and by the time if they can have a 200cr to 300cr AUM they can basically sell the business.
The aspiration to scale is not very high. Please note all this is just personal opinion, how I came to this conclusion, please find the answer below
if you see the balance sheet from 2018 they have been growing, now relatively it looks huge but if you see in absolute terms that is around 12cr to 14cr increase every year.
So either they have the inability to raise funds or they don’t have the capability to handle more growth or they don’t want to grow
Why capability because think about this way if I have to do the du diligence of lender, I have to raise money, I have to do the collection and also look into operations, if everything has to be done by one or two guys then it is beyond the personal capacity to do lot of business.
So you can see from this answer that basically CFO has to do everything + they are a very small team despite being in business for so many years
The promoter of this business also have previously built business and sold them so this is like their last project or something.
So entire experience is around real estate, so if you think this way, they are raising every year some money, lending it, scaling it at their own capacity and making money.
Nothing wrong in this at all but look like they are satisfied and content.
One last point I forgot to mention is, they pay divided, so this makes me think the business has matured and growing decently and promoters have or are sufficiently meeting their financial aspiration in life.
PLEASE NOTE- All this is story telling, I don’t now the promoter or I have never met them, I am not a shareholder, the screenshot are the reply from the company, which I asked during AGM, I can be horribly wrong and they can still give fantastic result and keep growing in future, I am naive kid.
Thankyou
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each of ur word is correct … …may be u know the management from very close!
and the words are very well choosen ,i have tried once , to describe the QGO management , but moderator deleted my post. but u have described it well.
Disc. Sold after meeting the management.
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