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.

Trigyn Technologies Limited , a leading IT services and solutions provider, has announced a significant leadership change with the appointment of Vikram Chandna as its new Chief Executive Officer (CEO). The company's board of directors approved this appointment in a meeting held on April 28, 2025, marking a new chapter in Trigyn's growth strategy.

A Seasoned Leader at the Helm

Vikram Chandna, formerly the global head of BFSI and hi-tech verticals at Birlasoft, brings a wealth of experience to his new role at Trigyn Technologies. With 27 years of expertise in IT consulting and services, Chandna specializes in Financial Services and High-Tech industries. His appointment is expected to drive Trigyn's expansion plans and technological advancements.

Strategic Vision for Growth

In his new position, Chandna has set an ambitious goal to double Trigyn Technologies' revenue over the next three years. This growth strategy will focus on two key areas:

1. Digital Modernization: Leveraging Chandna's deep expertise in Digital, Cloud, Cybersecurity, and AI/ML technologies to enhance Trigyn's service offerings.
2. Market Expansion: Exploring new markets to broaden the company's global footprint and client base.

Leadership Transition

The appointment of Vikram Chandna as CEO coincides with other key changes in Trigyn's leadership:

• Company Secretary Transition: Mr. Mukesh Tank has resigned from his position as Company Secretary and Compliance Officer, effective April 25, 2025. Ms. Prachi Deshpande, an experienced professional with over 21 years in corporate law and compliance, has been appointed to this role.

Looking Ahead

Chandna's appointment comes at a crucial time for Trigyn Technologies. His extensive experience in transforming businesses, driving revenue growth, and managing P&L across geographies is expected to play a vital role in shaping the company's future. As Trigyn aims to strengthen its position in the competitive IT services market, Chandna's leadership will be instrumental in fostering innovation, creating strategic client partnerships, and establishing global delivery excellence.

The company's stakeholders will be keenly watching how these leadership changes translate into business growth and technological advancements in the coming years. With a focus on digital modernization and market expansion, Trigyn Technologies appears poised for a new era of growth under Vikram Chandna's leadership.