Trigyn Technologies Limited , a leading IT services and solutions provider, has announced a significant leadership change with the departure of Vikram Chandna from his role as Chief Executive Officer (CEO). Chandna's tenure as CEO came to an end on November 21, following a mutual understanding between him and the company.

Brief Tenure and Departure

Vikram Chandna, who was appointed as CEO earlier in the year, served in the role for approximately seven months. The Board of Directors acknowledged his cessation at their meeting and placed on record their appreciation for his services during his tenure.

Previous Appointment and Experience

Chandna had joined Trigyn Technologies with a wealth of experience, having previously served as the global head of BFSI and hi-tech verticals at Birlasoft. With 27 years of expertise in IT consulting and services, specializing in Financial Services and High-Tech industries, his appointment was expected to drive Trigyn's expansion plans and technological advancements.

Unrealized Growth Strategy

During his brief tenure, Chandna had set an ambitious goal to double Trigyn Technologies' revenue over the next three years, focusing on two key areas:

1. Digital Modernization: Leveraging 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

This change in CEO follows another recent leadership transition at Trigyn:

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

Looking Ahead

The departure of Vikram Chandna presents both challenges and opportunities for Trigyn Technologies. The company will need to address this leadership change to maintain stability and continue its growth trajectory in the competitive IT services market.

Stakeholders will be closely monitoring how Trigyn Technologies navigates this transition and who will be appointed to lead the company's strategic initiatives moving forward. The new leadership may face the task of building on the foundation laid during Chandna's tenure while potentially bringing fresh perspectives to the company's growth strategy and technological direction.

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.