Trigyn profit drops 83% as auditor flags ₹80 cr in unbooked revenue
Revenue climbed 8.8% to ₹976 cr, but persistent legal disputes and contract terminations have walloped the bottom line.
— 2 earlier stories on Trigyn Technologies Ltd. →What's new
- Profit plummeted 83% as costs rose for labour code compliance and provisions.
- Auditor flagged ₹80 cr in guaranteed revenue from an Andhra Pradesh school project as uncollectible.
- Bank guarantees are already invoked following disputes over Nashik and TCIL projects.
Why it matters
The gap between top-line growth and bottom-line collapse signals operational strain. With the auditor questioning the viability of two subsidiaries and casting doubt on massive project receivables, the company faces a liquidity test.
What we're watching
- Developments in the arbitration cases for the Nashik and TCIL contracts.
- Whether the company resolves the ₹9.08 cr GST demand or faces further enforcement.
- Management's plan to address going-concern risks at the subsidiary level.
The full read
Trigyn Technologies finished FY2026 with a profit of just ₹1.99 crore, an 83% collapse from the previous year. Revenue grew 8.8% to ₹976.43 crore, but the growth failed to reach the bottom line. The auditor's report details why. It identifies a ₹80 crore revenue hole stemming from an Andhra Pradesh school project, which the company refused to book due to collection uncertainty. The company is fighting legal battles over a Nashik smart parking project and a terminated TCIL contract, both of which resulted in invoked bank guarantees. With a ₹9.08 crore GST demand pending and auditors raising going-concern flags for two subsidiaries, the operational picture is deteriorating. The company blames provisions and labour code costs for the profit hit. The underlying risks suggest a much tighter squeeze than these expenses alone explain.