Trigyn Technologies Q2 Results: Revenue and Profit Surge Amid Tax Headwinds

Revenue for Q2 FY2027 reached Rs 282.85 crore compared to Rs 241.95 crore in Q2 FY2026. Net profit rose to Rs 12.59 crore from Rs 5.27 crore in the same period last year.

Reader Takeaway: Strong operational growth is contrasted by material auditor notes on pending tax liabilities and revenue uncertainty.

What just happened

Trigyn Technologies has released its unaudited financial results for the quarter and half-year ended September 30, 2026. Alongside the financial performance, the company announced a restructuring of its Audit and Nomination and Remuneration Committees, appointing Mr. Narendra Bhandari to replace outgoing members.

Auditor Observations

The limited review report by the company's auditors flags four key areas requiring investor attention:

• Revenue Recognition: The firm opted not to account for Rs 80 crore in guaranteed quarterly revenue due to collection uncertainty.
• GST Dispute: A demand notice of Rs 9.08 crore regarding Input Tax Credit for FY 2019-23 is currently under appeal.
• Income Tax Demand: Post-search assessment orders have generated a fresh demand of Rs 3.14 crore for assessment years 2014-15 through 2019-20.
• Operational Risk: A Nashik-based toll project is currently subject to a termination notice and ongoing arbitration, with Rs 3.07 crore in unamortized costs at risk.

Corporate Governance

Governance changes include the appointment of Mr. Narendra Bhandari to the Audit Committee and the Nomination and Remuneration Committee, succeeding Mr. Syed Ahmed Sultan and Mr. Vijay Mallya, respectively.

What to track next

Investors should focus on the outcomes of the tax appeals and the ability of the company to recover the Rs 80 crore in unbooked guaranteed revenue. Additionally, the resolution status of the toll project arbitration remains a critical monitorable for long-term valuation.