Having wiped out accumulated losses of ₹525 crore, Trigyn Technologies Ltd. is now focusing on the Indian market, said a top executive.
“Recently, we received the National Company Law Tribunal approval to reduce our share capital to reflect the true financial position,” said R. Ganapathi, chairman and executive director, Trigyn Technologies. “Now, the company moves into a zone where shareholders can receive dividend.”
Trigyn Technologies currently serves 35 clients across staffing, managed services and cybersecurity. It had posted a revenue of $101 million.
“We want to increase revenues earned in rupees. From a meagre level now, we would like rupee-denominated revenues to contribute to about 30-35% of the total by 2020. By then, we aim to reach total income of $200 million.”
“We are entering India, which we had neglected all these years, to derisk any fluctuations in overseas markets,” he said.
Citing the firm’s recent orders from Andhra Pradesh State FibreNet for managed services for ₹160 crore and from AP Southern Power Distribution Co, he said: “We have an order book of ₹220 crore. Orders worth ₹600 crore are in hot pursuit, including the ₹100 crore Belgavi smart city project,” he said.
