Trigyn Technologies is a 1000 people IT company with offices in USA (Washington DC, New Jersey, Massachusetts), Germany and Switzerland. Development centers****in Mumbai and Bangalore. For more infocheck, http://www.trigyn.com
PRESENT DAY NUMBERS
CMP: Rs 23.35 Market cap: 66 crores BV: 34 FV: 10
Cons revenue FY13: 351 cr (FY12 279 cr) Net profit: 15 cr (FY12 10 cr) EPS: 5.33
Cons revenue H1FY14: 215 cr NP H1FY14: 15 cr EPS: 5.2
Debt: ZERO Cash on books: 7.5 cr
BRIEF HISTORY
Originally incorporated in 1986 as “Leading Edge Systems Ltd”. IPO in year 1995 at Rs 50 per share. Bonus issue of 1:1 in year 1998.Name changed to “Trigyn Technologies Ltd” in year 2000.
MULTIBAGGER POTENTIAL
Company on a growth track:
1). Consistent business performance (check company website for assignments bagged in 2013)
2). Consistent growth in financials during last 20 quarters
(FY08 cons revenues 119 cr, NP 7 cr; FY13 cons revenues 348 cr, NP 15 cr)
3). Company achieves 150% increase in net profit on consolidated basis for quarter ended June 30, year 2013
4). Recruiting technical staff aggressively (check the job sites)
Inflection points:
1). Mr Homiyar Panday designated as President of US operations in May 2003
2). United Telecoms acquires the company in July 2006
3). Mr R Ganapathi appointed as Chairman and Executive director in April 2012
4). Extension of UN contract in August 2013 (approx 100 million USD contract)
INTERESTING INFO
1). Some time in the year 2000, the share price of Trigyn was Rs.3000
2). Stock price 6.50 in APR2013 and 26 in JAN2014
(already a 4-bagger stock for people who bought in April 2013)
MY TAKE
Trigyn is a turnaround story on a stable footing. Experienced promoters, competent management, consistent performance and steady growth. Mostly ignored,deeply undervalued, under researched company with robust fundamentals. US and Europe recovery, weak currency, IT sector bullishness are positives for thecompany. A strong potential multibagger.
Disclosure: Trigyn tech is a part of my core holdings