The Directors have pleasure in presenting the Twenty Sixth Annual
 Report together with the audited accounts of the company for the year
 ended 31st March, 2012.
 
 FINANCIAL RESULTS
 
 Financial Results for the period ended March 31, 2012 are given below:
 
                                                        (Rs. In lakhs)
 
 Item                                          Year ended   Year ended
                                               March 31,    March 31,
                                               2012         2011
 
 Income
 
 Income from operations                          3008.45      2746.92
 
 Other Income                                     487.72       184.11
 
 Total Revenue                                   3496.17      2931.03
 
 Expenditure
 
 Operating and Other Expenses                    2733.14      2297.29
 
 Depreciation                                      93.72        89.73
 
 Profit before Tax                                669.31       544.00
 
 Tax Expenses                                     147.77         0.00
 
 Profit after Tax                                 521.54       544.00
 
 Add : Exceptional Items                            0.00         0.00
 
 Net Profit                                      521.541       544.00
 
 REVIEW OF OPERATIONS
 
 During the year under review the income from operations was Rs. 3008.45
 lakhs higher by about 9.52% against Rs.  2746.92 lakhs in previous
 year. Deducting there from the expenditure incurred and Rs. 93.72 lakhs
 for Depreciation, the Net Profit for the year stood at Rs. 521.54
 lakhs.The net gain on foreign currency transactions and translations
 accounted for Rs. 357.82Lakhs. The expenditure on account of Taxation
 amounted to Rs. 147.77 Lakhs.
 
 Your Company has improved performance in the current fiscal and
 foresees a better future outlook.
 
 TRANSFER TO RESERVES & DIVIDEND
 
 In view of the carried forward losses the Board of Directors of your
 Company do not recommend any dividend for the year under review.
 
 The Company has not made any transfer to the reserves during the year
 under review.
 
 SUBSIDIARY COMPANIES
 
 Exemption from attaching the Balance Sheets, etc. of the Subsidiary
 Companies with the Balance Sheet of the Company
 
 The Ministry of Corporate Affairs (MCA) has vide its circular no.
 02/2011 dated 8th February, 2011, granted a general exemption under
 Section 212(8) of the Companies Act from attaching copies of the
 Balance Sheet, Profit and Loss Accounts, Directors'' Report and
 Auditors'' Report of its subsidiary companies with the Balance Sheet
 of the Company, subject to fulfillment of certain conditions. In terms
 of the said circular, copies of the Balance Sheet, Profit and Loss
 Account, Report of the Board of Directors and the Report of the
 Auditors of the Subsidiary Companies have not been attached to the
 Balance Sheet of the Company. The Company has presented Consolidated
 Financial Statements comprising Trigyn Technologies Limited and its
 subsidiaries duly audited by the Statutory Auditors of the Company. The
 Consolidated Financial Statements prepared by the Company are in
 compliance with the Accounting Standard AS-21 as prescribed by the
 Companies (Accounting Standards) Rules, 2006 and the Listing Agreement
 with the Stock Exchanges.  The Annual Accounts and related documents of
 all the Subsidiary Companies shall be made available for inspection to
 the shareholders of the Company and its subsidiaries at the Registered
 Office of the Company from Monday to Friday during the working hours.
 The Company will also make available physical copies of such documents
 upon request by any Member of the Company or its subsidiaries
 interested in obtaining the same and the same would also be made
 available on the website of the Company. A statement under Section 212
 (8) is annexed to this report as Annexure II.
 
 MANAGEMENT DISCUSSION & ANALYSIS:
 
 The Management Discussion & Analysis Report as annexed hereto and form
 an integral part of this report.
 
 PUBLIC DEPOSITS
 
 Your Company has not accepted any deposit within the meaning of Section
 58A and 58AA of the Companies Act, 1956 during the years ended on March
 31, 2012 and doesn''t have any outstanding public deposits.
 
 DIRECTORS
 
 Mr. R. Ganapathi was appointed as Executive Directors of the Company
 with effect from April 1, 2012 for a period of Three years subject to
 the approval at the ensuing Annual General Meeting. Ms. P. Bhavana Rao
 was appointed as Executive Director for a period of three years with
 effect from April 1, 2012. Her remuneration being within the limits of
 Section 198 read with Sections 309, 310 and 269 and Schedule XIII part
 B the approval of Remuneration Committee and Board of Directors of the
 Company were duly accorded.
 
 Mr. Maulik Shah, Mr. Vivek Khare and Mr. C.V. Rao directors of the
 Company who retire by rotation under Article 124 of the Article of
 Association of the Company, being eligible for re-appointment, offer
 themselves for re-appointment. A brief resume of the above mentioned
 Directors being appointed are attached to the Notice for the ensuing
 Annual General Meeting.
 
 DIRECTORS RESPONSIBILITY STATEMENT
 
 In terms of and pursuant to Section 217 (2AA) of the Companies Act,
 1956, in relation to the Annual Statement of Accounts for the Financial
 Year 2011-2012, your Directors state and confirm that:
 
 1.  in the preparation of the annual accounts, the applicable
 accounting standards had been followed along with proper explanation
 relating to material departures;
 
 2.  your Directors had selected such accounting policies and applied
 them consistently and made judgments and estimates that are reasonable
 and prudent so as to give a true and fair view of the state of affairs
 of the company at the end of the financial year, and of the profit of
 the Company for that year;
 
 3.  your Directors had taken proper and sufficient care for the
 maintenance of adequate accounting records in accordance with the
 provisions of the Companies Act, 1956 as amended, for safeguarding the
 assets of the company and for preventing and detecting frauds and other
 irregularities; and
 
 4.  your directors have prepared the annual accounts on a going
 concern basis;
 
 EMPLOYEE STOCK OPTION PLAN (ESOP):
 
 Details required to be provided under the Securities and Exchange Board
 of India (Employee Stock Option Scheme and Employee Stock Purchase
 Scheme) Guidelines, 1999 are set out in Annexure I to this report.
 
 CORPORATE GOVERNANCE:
 
 A Report on Corporate Governance for the year 2011-12 is given
 separately in the Annual Report.
 
 CORPORATE SOCIAL RESPONSIBILITY:
 
 With a noble cause to help the deserving people in the society, during
 the year, your Company has donated Rs.560,000/- to the charitable
 institutions engaged in the activity of medical Centre, upliftment of
 the down trodden and assisting the old age people.
 
 The donation amount is within the limits prescribed under Section
 293(1) (e) of the Companies Act, 1956.
 
 AUDITORS
 
 a) Auditors Report:
 
 The Auditors Report form part of the Annual Report and your Directors
 are pleased to inform that there are no qualifications in the Auditors
 Report for the year ended March 31, 2012.
 
 b) Appointment of Auditors
 
 M/s. Price Waterhouse, Chartered Accountants, the existing Auditors
 retire at the ensuing Annual General Meeting of your Company. They have
 expressed their unwillingness in writing to be re-appointed as Auditors
 of the Company.  It is therefore proposed to appoint M/s. Ford, Rhodes,
 Parks & Co., Chartered Accountants as statutory auditors of the
 Company. M/s. Ford, Rhodes, Parks & Co., Chartered Accountants has
 shown their willingness to be appointed as statutory auditors of your
 Company are qualified to be appointed under Section 224(1B) of the
 Companies Act, 1956. A resolution seeking your approval for the
 appointment of the said auditors has been included in the Notice
 convening the Annual General Meeting.
 
 EMPLOYEES:
 
 The Company has no employee whose Information is required to be given
 under the provisions of section 217 (2A) of the Companies Act, 1956 and
 the rules framed there under.
 
 CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
 EARNINGS AND OUTGO:
 
 A.  CONSERVATION OF ENERGY
 
 Your company consumes electricity only for the operation of its
 computer and administration of its offices. Though the consumption of
 electricity is negligible as compare to the total turnover of the
 company, your company always endeavors to take effective steps to
 reduce the consumption of electricity.
 
 RESEARCH & DEVELOPMENT
 
 a) Specific areas in which R&D carried out by the Company        N.A.
 
 b) Benefits derived as a result of the above R&D                 N.A.
 
 c) Future plan of action                                         N.A.
 
 d) Expenditure on R&D                                            N.A.
 
 B.  TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION
 
 The Company has not absorbed any new technology during the year under
 review. The statement pursuant to Sec 217(1)(e) of the Companies Act,
 1956 read with the Companies (Disclosure of Particulars in the Reports
 of Board of Directors) Rules, 1988 is hereunder
 
 a) Efforts made towards technology absorption, adaptation and
 innovation                                                       N.A.
 
 b) Benefits derived as a result of the above efforts             N.A.
 
 c) Information regarding Imported Technology                     N.A.
 
 C.  FOREIGN EXCHANGE EARNING/OUTGO:
 
 The foreign exchange earnings of your Company during the year were Rs.
 285,473,559/-(Previous year Rs. 272, 349,741/-) while the outgoings
 were Rs. 62,706,382/- (Previous year Rs.39, 360,422/-).
 
 ACKNOWLEDGEMENTS:
 
 The Directors wish to place on record their appreciation of the
 contribution made by employee at all level to the continued growth and
 prosperity of your Company.
 
 Your Directors also wish to place on record their appreciation for the
 support provided by the Company''s Bankers, Customers, Vendors, SEEPZ,
 regulatory and government authorities in India and abroad.
 
                                       For Trigyn Technologies Limited
 
                                                                  Sd/- 
 
                                                          R. Ganapathi 
 
                                       Chairman and Executive Director
  
 Place: Mumbai 
 
 Date August 27, 2012