Trigyn Technologies Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2018 • Government: 80.5% • Others: 19.5%
AI Sector View
AI GENERATEDInformation Technology
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.
PROS
- Company is almost debt free
- Latest quarter profit grew 175.7% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.89x)
- Company comfortably covers its interest (10.5x coverage)
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (67.0% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 3.3% over last 3 years
- Company has a low return on capital employed of 6.4%
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| 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 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 322 | 316 | 307 | 334 | 242 | 208 | 207 | 240 | 224 | 242 | 258 | 252 | 253 | |
| 305 | 300 | 323 | 317 | 232 | 203 | 207 | 235 | 227 | 240 | 258 | 248 | 251 | |
| Operating Profit | 18 | 16 | -17 | 17 | 9 | 4 | -0 | 6 | -2 | 2 | 0 | 4 | 2 |
| OPM % | 5.49% | 5.11% | -5.38% | 5.20% | 3.91% | 2.10% | -0.18% | 2.32% | -1.07% | 0.91% | 0.06% | 1.43% | 0.72% |
| 3 | 3 | 2 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 4 | 4 | |
| Interest | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 2 | 1 | 1 | 0 | 1 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 19 | 17 | -16 | 18 | 12 | 6 | 3 | 7 | 1 | 5 | 2 | 6 | 6 |
| Tax % | 35.79% | 37.19% | -37.80% | -5.33% | 35.18% | 86.49% | 42.32% | 56.23% | 718.06% | -11.09% | 57.50% | 88.50% | 44.59% |
| Net Profit | 0 | 0 | 0 | 0 | 8 | 4 | 1 | 3 | -5 | 5 | 1 | 1 | 3 |
| 3.93 | 3.53 | -7.15 | 6.17 | 2.55 | 0.28 | 0.50 | 0.96 | -1.45 | 1.72 | 0.22 | 0.23 | 1.13 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 625 | 679 | 685 | 895 | 911 | 985 | 1,041 | 1,273 | 1,280 | 898 | 1,005 | |
| 563 | 614 | 624 | 810 | 833 | 893 | 975 | 1,212 | 1,245 | 880 | 997 | |
| Operating Profit | 62 | 65 | 61 | 84 | 77 | 92 | 65 | 61 | 35 | 18 | 8 |
| OPM % | 9.85% | 9.60% | 8.88% | 9.42% | 8.48% | 9.35% | 6.28% | 4.78% | 2.72% | 1.97% | 0.77% |
| 2 | 3 | 1 | -4 | 5 | 3 | 3 | 6 | 12 | 17 | 15 | |
| Interest | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 2 | 2 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 3 | 7 | 7 | 7 | 5 | 3 |
| Profit before Tax | 62 | 66 | 60 | 78 | 78 | 89 | 59 | 58 | 38 | 26 | 19 |
| Tax % | 38.04% | 41.10% | 34.06% | 38.22% | 35.51% | 30.15% | 33.58% | 40.45% | 47.75% | 55.53% | 46.16% |
| Net Profit | 38 | 39 | 39 | 48 | 50 | 62 | 39 | 35 | 20 | 12 | 10 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 20.11 | 12.69 | 11.26 | 6.48 | 3.82 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 4.76% | 1.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 0%
- 3 Years:
- -5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -7%
- 5 Years:
- -25%
- 3 Years:
- -33%
STOCK PRICE CAGR
- 10 Years:
- -5%
- 5 Years:
- -13%
- 3 Years:
- -25%
- 1 Year:
- -21%
RETURN ON EQUITY
- 10 Years:
- 9%
- 5 Years:
- 6%
- 3 Years:
- 3%
- Last Year:
- 2%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 |
| 259 | 295 | 336 | 402 | 473 | 527 | 577 | 650 | 670 | 710 | |
| 0 | 0 | 0 | 8 | 6 | 10 | 6 | 6 | 4 | 12 | |
| Trade Payables | 33 | 37 | 53 | 65 | 72 | 77 | 84 | 98 | 80 | 70 |
| 35 | 33 | 36 | 39 | 43 | 51 | 69 | 83 | 96 | 102 | |
| Total Liabilities | 355 | 395 | 455 | 545 | 624 | 695 | 768 | 868 | 881 | 925 |
| 88 | 89 | 90 | 90 | 100 | 99 | 108 | 107 | 103 | 97 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 0 |
| 1 | 1 | 1 | 4 | 4 | 5 | 21 | 83 | 17 | 38 | |
| 0 | 0 | 10 | 1 | 5 | 3 | 3 | 11 | 8 | 9 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 249 | 244 | |
| Cash & Bank | 67 | 110 | 123 | 123 | 130 | 196 | 215 | 138 | 336 | 413 |
| 199 | 195 | 231 | 327 | 385 | 390 | 418 | 528 | 169 | 124 | |
| Total Assets | 355 | 395 | 455 | 545 | 624 | 695 | 768 | 868 | 881 | 925 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 76 | 74 | 39 | -3 | 26 | 106 | 68 | -21 | 126 | 51 | |
| Cash from Investing | 0 | 1 | -2 | -3 | -11 | -1 | -31 | -63 | 68 | 16 |
| Cash from Financing | -1 | -1 | -1 | 7 | -5 | -5 | -6 | -3 | -4 | -3 |
| 51 | 47 | 13 | -13 | -17 | 74 | 8 | -118 | 191 | 64 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 13.03 | 13.13 | 13.20 | 15.74 | 16.27 | 20.20 | 12.69 | 11.26 | 6.48 | 3.82 |
| Book Value (₹) | 97.82 | 109.07 | 122.28 | 140.77 | 163.50 | 181.24 | 197.31 | 221.21 | 227.77 | 240.71 |
| 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 (₹) | 13.21 | 13.36 | 13.56 | 16.14 | 16.95 | 21.20 | 14.87 | 13.47 | 8.72 | 5.45 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 10.27% | 9.99% | 9.02% | 9.53% | 9.01% | 9.62% | 6.56% | 5.29% | 2.72% | 1.97% |
| Net Margin % | 6.14% | 5.75% | 5.77% | 5.42% | 5.50% | 6.31% | 3.75% | 2.72% | 1.56% | 1.31% |
| ROE % | 14.34% | 12.75% | 11.44% | 12.13% | 10.70% | 11.72% | 6.71% | 5.38% | 2.89% | 1.63% |
| ROCE % | 23.55% | 21.78% | 17.36% | 19.47% | 16.65% | 16.96% | 10.45% | 9.34% | 5.76% | 4.03% |
| 11.75% | 10.41% | 9.29% | 9.69% | 8.57% | 9.43% | 5.34% | 4.24% | 2.28% | 1.30% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 87 | 73 | 71 | 68 | 91 | 93 | 92 | 84 | 79 | 100 |
| Inventory Days | 0 | 0 | 5 | 2 | 1 | 1 | 1 | 2 | 3 | 3 |
| Payable Days | 3675 | 7224 | 1994 | 368 | 1886 | 1620 | 0 | 979 | 2051 | 0 |
| -3588 | -7152 | -1918 | -298 | -1794 | -1526 | 93 | -893 | -1969 | 103 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.03x | 0.02x | 0.02x | 0.01x | 0.00x | 0.00x | 0.01x |
| Interest Coverage (x) | 48.44x | 73.08x | 76.11x | 73.15x | 36.06x | 33.77x | 22.27x | 26.97x | 24.06x | 10.53x |
| 3.97x | 4.37x | 3.97x | 3.70x | 3.93x | 3.97x | 3.64x | 3.33x | 4.26x | 4.81x | |
| GROWTH | ||||||||||
| Revenue Growth % | 26.71% | 8.74% | 0.79% | 30.70% | 1.78% | 8.22% | 5.60% | 22.31% | 0.55% | -29.82% |
| Operating Profit Growth % | 60.81% | 5.88% | -9.05% | 38.14% | -3.84% | 15.63% | -27.97% | -1.49% | -30.52% | -24.20% |
| Net Profit Growth % | 56.70% | 1.78% | 1.11% | 22.76% | 3.41% | 24.09% | -37.16% | -11.25% | -42.43% | -41.04% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -42.43% | -41.04% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 14.40x | 17.70x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.41x | 0.28x |
| 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 | -1.03x | -5.53x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-13 - Trigyn Technologies Limited has informed the Exchange about Copy of Newspaper Publication
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 - 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 - Trigyn Technologies Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-10 - Trigyn Technologies Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-07-03 - Trigyn Technologies Limited has informed the Exchange about Copy of Newspaper Publication
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 - Trigyn Technologies Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
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
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