Trigyn Technologies Limited (TTL) has received a significant boost to its employee stock option plan, as the company announced in-principle approval from both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for listing up to 4,50,000 equity shares under its Employee Stock Option Plan 2025.

Exchange Approval Details

The approval letters, issued on August 12, 2025, bear the reference numbers NSE/LIST/49438 and DCS/AMAL/RG/IP/3741/2025-26 for NSE and BSE respectively. This move allows TTL to allot equity shares to employees upon the exercise of their stock options, subject to various listing conditions.

Conditions for Approval

The exchanges have stipulated several conditions for the approval, including:

1. Compliance with SEBI regulations
2. Receipt of necessary statutory approvals
3. Submission of required documentation

It's important to note that the exchanges reserve the right to withdraw approval if the submitted information is found to be incomplete or misleading.

Financial Performance

While the ESOP approval marks a positive development for Trigyn Technologies, the company's recent financial results present a mixed picture:

Consolidated Results

The company reported a consolidated revenue from operations of ₹22,450.00 lakhs, down from ₹24,194.44 lakhs in the same quarter of the previous year. More notably, Trigyn Technologies recorded a net loss of ₹460.86 lakhs, compared to a net profit of ₹761.38 lakhs in the corresponding quarter.

Standalone Results

On a standalone basis, the company's performance also showed a decline. Revenue from operations decreased to ₹3,541.02 lakhs from ₹3,667.47 lakhs in the corresponding quarter of the previous year. The net loss widened to ₹499.02 lakhs from ₹371.45 lakhs.

Other Developments

In addition to the ESOP approval and financial results, Trigyn Technologies announced several other key developments:

1. The Board of Directors approved the roles and responsibilities for Mrs. Bhavana Rao Potluri as Executive Vice Chair, effective immediately.

2. The company received approval to incorporate a Wholly Owned Subsidiary in Dubai, United Arab Emirates, through its existing wholly owned subsidiary, TTI.

3. Trigyn Technologies is currently engaged in arbitration proceedings with Nashik Municipal Smart City Development Corporation Ltd (NMSCDCL) following a termination notice issued on September 4, 2023.

4. The company is facing a show cause cum demand notice from the GST department for ₹9.08 crores, disallowing Input Tax Credit claimed during FY 2019-20 to FY 2022-23.

As Trigyn Technologies navigates these challenges and opportunities, the approval of the ESOP 2025 could serve as a tool to attract and retain talent, which may be crucial for the company's future performance and growth strategies.

Trigyn Technologies , a prominent player in the IT services sector, has reported its financial results for the first quarter, revealing significant challenges and strategic changes within the organization.

Financial Performance

Trigyn Technologies posted a consolidated net loss of Rs 460.86 crore for the quarter, a stark contrast to the profit of Rs 761.38 crore recorded in the same quarter of the previous year. The company's revenue from operations also saw a decline, dropping to Rs 22,449.99 crore from Rs 24,194.44 crore year-on-year.

Key Financial Highlights

Management Restructuring

In a significant move, the company's Board has approved the appointment of Mrs. Bhavana Rao Potluri as Executive Vice Chair. Mrs. Potluri will transition from her current role as Executive Director to focus on strategic planning, long-term vision, and operational oversight of the Indian Government business.

Business Expansion

Trigyn Technologies is set to expand its global footprint with the Board's approval to incorporate a wholly-owned subsidiary in Dubai through its existing subsidiary TTI. This move is expected to strengthen the company's presence in the Middle East market.

Ongoing Legal Challenges

The company faces several legal hurdles, including:

• Arbitration proceedings with Nashik Municipal Smart City Development Corporation
• A GST demand notice of Rs 9.08 crore, which the company is contesting

Financial Prudence

Trigyn has taken a cautious approach to revenue recognition:

• The company has not recognized Rs 80 crore in quarterly guaranteed revenue due to collection uncertainties
• Significant Expected Credit Loss (ECL) provisions totaling Rs 55.27 crore have been maintained

Outlook

While the company faces short-term challenges, the strategic appointment of Mrs. Bhavana Rao Potluri and the planned expansion into Dubai indicate Trigyn's focus on long-term growth and market diversification. The management's prudent approach to revenue recognition and provisioning reflects a conservative financial strategy in the face of current market uncertainties.