Trigyn Technologies Ltd.

•

trigyn.comBSE: 517562NSE: TRIGYN

Market Cap₹ 181 Cr.

Current Price

High / Low₹ 102 / 38

Stock P/E22.1

Book Value₹ 67

Price to Book1.02

Dividend Yield0.00 %

ROCE4.7 %

ROE0.7 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

View full sector analysis →

PROS

Company is almost debt free
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Operating cash flow has been negative in recent years
A large part of profit comes from other income (248.9% of PBT)
Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 2.1% over last 3 years
Company has a low return on capital employed of 4.8%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TCS	2312.00	16.80	836501.83	4.76	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1128.00	15.11	457768.62	4.26	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1310.25	20.41	355557.97	4.12	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	176.60	13.23	174910.92	6.23	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1597.00	30.48	156527.36	3.19	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4516.00	25.61	133954.19	1.66	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	12050.00	30.75	104935.17	3.32	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5624.00	46.13	88718.60	0.71	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1963.70	49.51	86987.61	0.80	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2457.05	24.55	46899.54	2.52	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3498.50	28.11	37111.23	1.66	3571.00	1029.71	29401.00	1014.73	27.70	18.65
12.	TRIGYN	58.76	17.94	180.90	0.00	3.49	175.68	252.76	12.59	4.03	1.37

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31	33	28	83	37	34	35	47	35	43	63	47	38
	38	40	34	81	40	36	39	42	35	41	57	45	41
Operating Profit	-6	-7	-6	2	-3	-2	-4	5	0	2	6	3	-3
OPM %	-19.92%	-20.05%	-21.41%	2.91%	-7.91%	-4.65%	-11.24%	11.42%	0.40%	5.25%	8.89%	5.81%	-6.92%
	0	13	1	17	0	-1	15	1	1	0	-1	13	1
Interest	0	0	0	0	0	0	0	2	0	1	0	1	1
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before Tax	-7	5	-7	18	-4	-3	10	4	-0	1	3	15	-2
Tax %	2.88%	11.09%	10.45%	16.12%	-0.27%	-13.49%	20.67%	80.78%	-1459.38%	223.58%	59.20%	26.29%	-24.86%
Net Profit	-7	4	-6	15	-4	-4	8	1	-5	-2	1	11	-2
	-2.30	1.38	-1.92	4.96	-1.21	-1.25	2.68	0.22	-1.62	-0.49	0.43	3.52	-0.81

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	153	56	62	129	76	88	94	173	175	153	192
	150	56	60	116	78	85	103	186	192	156	184
Operating Profit	2	0	2	13	-2	3	-9	-14	-16	-3	8
OPM %	1.61%	0.43%	2.79%	10.14%	-2.49%	3.21%	-9.34%	-7.87%	-9.32%	-2.00%	4.17%
	1	2	1	3	17	8	18	26	31	16	13
Interest	0	0	0	1	2	2	2	2	1	2	2
Depreciation	0	1	1	1	2	3	4	4	4	3	2
Profit before Tax	3	1	1	14	11	6	4	7	9	7	17
Tax %	28.17%	38.40%	44.93%	72.25%	45.86%	48.86%	71.41%	38.14%	28.23%	80.11%	52.51%
Net Profit	2	1	0	4	6	3	1	4	7	1	8
EPS	0.00	0.00	0.00	0.00	0.00	0.97	0.33	1.40	2.11	0.44	—
Dividend Payout %	0.00%	0.00%	0.00%	58.00%	12.40%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 0%
5 Years:: 15%
3 Years:: 18%

COMPOUNDED PROFIT GROWTH

10 Years:: 51%
5 Years:: -26%
3 Years:: 10%

STOCK PRICE CAGR

10 Years:: -5%
5 Years:: -13%
3 Years:: -25%
1 Year:: -21%

RETURN ON EQUITY

10 Years:: 2%
5 Years:: 2%
3 Years:: 2%
Last Year:: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	29	30	30	31	31	31	31	31	31	31
	136	138	140	148	151	154	155	158	158	173
	0	0	0	8	6	10	6	2	1	9
Trade Payables	1	1	12	11	10	14	8	9	9	5
	22	20	20	23	30	30	38	89	134	113
Total Liabilities	189	190	201	221	228	238	238	289	332	331
	1	2	4	3	13	13	14	12	11	7
Capital Work in Progress	0	0	0	0	1	1	1	1	0	0
	92	94	93	93	93	93	93	100	99	118
	0	0	10	1	5	3	3	11	8	9
	0	0	0	0	0	0	0	0	56	62
Cash & Bank	7	6	6	10	9	6	4	8	20	28
	89	88	89	114	108	121	122	157	138	107
Total Assets	189	190	201	221	228	238	238	289	332	331

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	5	-0	2	-15	7	-1	-6	1	-6	-6
Cash from Investing	1	1	-2	7	1	5	12	16	21	17
Cash from Financing	-1	-0	-0	8	-4	-4	-5	-6	-3	-3
	4	-1	-1	4	-1	-3	-3	4	13	8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	0.72	0.28	0.16	1.29	2.02	0.98	0.33	1.40	2.11	0.44
Book Value (₹)	56.35	56.49	56.77	58.21	59.19	60.09	60.27	61.46	61.19	66.04
Dividend per Share (₹)	0.00	0.00	0.00	0.75	0.25	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	0.88	0.48	0.51	1.69	2.69	1.97	1.50	2.72	3.47	1.56
PROFITABILITY
Operating Margin %	2.78%	4.98%	3.67%	16.04%	19.94%	12.43%	9.85%	7.35%	-9.32%	-2.00%
Net Margin %	1.39%	1.49%	0.75%	3.09%	8.14%	3.41%	1.08%	2.49%	3.71%	0.89%
ROE %	1.30%	0.50%	0.28%	2.28%	3.44%	1.64%	0.55%	2.30%	3.45%	0.70%
ROCE %	2.07%	0.97%	0.70%	8.14%	6.82%	4.04%	2.93%	4.48%	5.33%	4.67%
	1.15%	0.44%	0.24%	1.89%	2.77%	1.29%	0.43%	1.63%	2.10%	0.41%
EFFICIENCY
Debtor Days	109	249	167	90	271	299	263	118	110	141
Inventory Days	0	0	59	16	14	17	13	15	19	20
Payable Days	197	233	278	71	287	254	1495	93	210	1900
	-89	16	-53	35	-2	62	-1219	40	-81	-1739
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.00x	0.01x	0.07x	0.06x	0.05x	0.03x	0.01x	0.00x	0.04x
Interest Coverage (x)	7.62x	5.67x	3.31x	26.20x	7.89x	4.02x	2.71x	5.35x	9.67x	3.78x
	4.32x	6.25x	3.31x	3.40x	3.20x	2.95x	2.58x	1.66x	1.40x	1.53x
GROWTH
Revenue Growth %	1.93%	-63.49%	10.74%	108.45%	-40.84%	15.73%	6.83%	83.03%	1.59%	-12.66%
Operating Profit Growth %	2070.54%	-34.60%	-18.39%	811.62%	-26.45%	-27.85%	-15.36%	36.52%	13.05%	-1.84%
Net Profit Growth %	9383.68%	-60.95%	-44.09%	756.42%	56.00%	-51.58%	-66.21%	323.44%	51.35%	-78.98%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	51.35%	-78.98%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	44.16x	152.16x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.53x	1.02x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	18.68x	13.43x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.51	44.51	44.51	44.51	44.51	44.51	44.51	44.51	44.51
	0.27	0.25	0.15	0.22	0.26	0.14	0.10	0.18	0.12
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	55.22	55.24	55.33	55.27	55.23	55.36	55.38	55.31	55.37

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-13

Copy of Newspaper Publication

2026-08-13 - Trigyn Technologies Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-11

General Updates

2026-08-11 - Trigyn Technologies Limited has informed the Exchange about General Updates - Appointment of Mr. Narendra Bhandari as an Independent Director

2026-08-11

Press Release

2026-08-11 - Trigyn Technologies Limited has informed the Exchange regarding a press release dated August 11, 2026, titled "TRIGYN TECHNOLOGIES LIMITED ANNOUNCES RESULTS HIGHLIGHTS FOR Q1 FY 2026-27".

2026-08-11

Outcome of Board Meeting

2026-08-11 - Trigyn Technologies Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-10

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-10 - Trigyn Technologies Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-03

Copy of Newspaper Publication

2026-07-03 - Trigyn Technologies Limited has informed the Exchange about Copy of Newspaper Publication

2026-06-30

Disclosure under SEBI Takeover Regulations

2026-06-30 - United Telecoms Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-06-26

Trading Window

2026-06-26 - Trigyn Technologies Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-24

Shareholders meeting

2026-06-24 - Trigyn Technologies Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.

News

Recent coverage and analyst commentary for TRIGYN

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Trigyn Technologies Ltd.

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Name

TCS

2312.00

16.80

836501.83

4.76

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1128.00

15.11

457768.62

4.26

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1310.25

20.41

355557.97

4.12

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

176.60

13.23

174910.92

6.23

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1597.00

30.48

156527.36

3.19

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4516.00

25.61

133954.19

1.66

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

12050.00

30.75

104935.17

3.32

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5624.00

46.13

88718.60

0.71

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1963.70

49.51

86987.61

0.80

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2457.05

24.55

46899.54

2.52

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3498.50

28.11

37111.23

1.66

3571.00

1029.71

29401.00

1014.73

27.70

18.65

TRIGYN

58.76

17.94

180.90

0.00

3.49

175.68

252.76

12.59

4.03

1.37

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-6

-7

-6

-3

-2

-4

-3

OPM %

-19.92%

-20.05%

-21.41%

2.91%

-7.91%

-4.65%

-11.24%

11.42%

0.40%

5.25%

8.89%

5.81%

-6.92%

-1

Interest

Depreciation

Profit before Tax

-7

-4

-3

-0

-2

Tax %

2.88%

11.09%

10.45%

16.12%

-0.27%

-13.49%

20.67%

80.78%

-1459.38%

223.58%

59.20%

26.29%

-24.86%

Net Profit

-7

-6

-4

-5

-2

-2.30

1.38

-1.92

4.96

-1.21

-1.25

2.68

0.22

-1.62

-0.49

0.43

3.52

-0.81

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

153

129

173

175

153

192

150

116

103

186

192

156

184

Operating Profit

-2

-9

-14

-16

-3

OPM %

1.61%

0.43%

2.79%

10.14%

-2.49%

3.21%

-9.34%

-7.87%

-9.32%

-2.00%

4.17%

Interest

Depreciation

Profit before Tax

Tax %

28.17%

38.40%

44.93%

72.25%

45.86%

48.86%

71.41%

38.14%

28.23%

80.11%

52.51%

Net Profit

EPS

0.00

0.97

0.33

1.40

2.11

0.44

—

Dividend Payout %

0.00%

58.00%

12.40%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

136

138

140

148

151

154

155

158

173

Trade Payables

134

113

Total Liabilities

189

190

201

221

228

238

289

332

331

Capital Work in Progress

100

118

Cash & Bank

114

108

121

122

157

138

107

Total Assets

189

190

201

221

228

238

289

332

331

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-0

-15

-1

-6

Cash from Investing

-2

Cash from Financing

-1

-0

-4

-5

-6

-3

-1

-3

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

0.72

0.28

0.16

1.29

2.02

0.98

0.33

1.40

2.11

0.44

Book Value (₹)

56.35

56.49

56.77

58.21

59.19

60.09

60.27

61.46

61.19

66.04

Dividend per Share (₹)

0.00

0.75

0.25

0.00

Cash EPS (₹)

0.88

0.48

0.51

1.69

2.69

1.97

1.50

2.72

3.47

1.56

PROFITABILITY

Operating Margin %

2.78%

4.98%

3.67%

16.04%

19.94%

12.43%

9.85%

7.35%

-9.32%

-2.00%

Net Margin %

1.39%

1.49%

0.75%

3.09%

8.14%

3.41%

1.08%

2.49%

3.71%

0.89%

ROE %

1.30%

0.50%

0.28%

2.28%

3.44%

1.64%

0.55%

2.30%

3.45%

0.70%

ROCE %

2.07%

0.97%

0.70%

8.14%

6.82%

4.04%

2.93%

4.48%

5.33%

4.67%

1.15%

0.44%

0.24%

1.89%

2.77%

1.29%

0.43%

1.63%

2.10%

0.41%

EFFICIENCY

Debtor Days

109

249

167

271

299

263

118

110

141

Inventory Days

Payable Days

197

233

278

287

254

1495

210

1900

-89

-53

-2

-1219

-81

-1739

FINANCIAL HEALTH

Debt to Equity (x)

0.00x

0.01x

0.07x

0.06x

0.05x

0.03x

0.01x

0.00x

0.04x

Interest Coverage (x)

7.62x

5.67x

3.31x

26.20x

7.89x

4.02x

2.71x

5.35x

9.67x

3.78x

4.32x

6.25x

3.31x

3.40x

3.20x

2.95x

2.58x

1.66x

1.40x

1.53x

GROWTH

Revenue Growth %

1.93%

-63.49%

10.74%

108.45%

-40.84%

15.73%

6.83%

83.03%

1.59%

-12.66%

Operating Profit Growth %

2070.54%

-34.60%

-18.39%

811.62%

-26.45%

-27.85%

-15.36%

36.52%

13.05%

-1.84%

Net Profit Growth %

9383.68%

-60.95%

-44.09%

756.42%

56.00%

-51.58%

-66.21%

323.44%

51.35%

-78.98%

0.00%

51.35%

-78.98%

VALUATION

P/E (x)

0.00x

44.16x

152.16x

P/B (x)

0.00x

1.53x

1.02x

Dividend Yield %

0.00%

0.00x

18.68x

13.43x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

44.51

0.27

0.25

0.15

0.22

0.26

0.14

0.10

0.18

0.12

DIIs

0.00

Government

0.00

55.22

55.24

55.33

55.27

55.23

55.36

55.38

55.31

55.37

Trigyn Technologies Ltd.

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Corporate actions

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Trigyn Technologies Ltd.

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