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Protean eGov Technologies Limited PROTEAN NSETECH

Technology · Information Technology Services · India
https://www.proteantech.in

Protean eGov Technologies Limited, together with its subsidiaries, provides information technology (IT) enabled e-governance services in India. The company conceptualizes, develops, and executes critical and population scale greenfield technology solutions; and offers citizen services, system integration, business process re-engineering, data center co-location, and IT consulting services for individuals, corporates, and the government. It also operates as a central recordkeeping agency and a tax information network; and processes the applications for allotment of permanent account numbers (PAN). In addition, the company offers open digital ecosystems for mobility, e-commerce, health, agriculture, education, and skilling; and Vidyasaarathi and VidyaLakshmi, which are online platforms for education loans. Further, the company provides online PAN verification services; e-KYC to manage authentication of digital IDs; eSign to facilitate digital signatures; eSignPro, which offers e-stamps and digital stamp solutions; Aadhaar authentication for digital identity; GST services; FIP and FIU technology service provider services; Data Stack, a data analytics solution; Rise with Protean, a multisectoral shop for APIs, micro services, and user journeys; ProteanX, a suite of products used to create, issue, store, and manage verifiable credentials; and Protean CKYC solution. Additionally, it offers cloud services, such as desktop as a service, storage as a service, virtual office, infrastructure as a service, managed service, and edge compute with 5G private network; and information security consulting services, including information security architecture, data privacy practice, and cyber security consulting and advisory services. The company was formerly known as NSDL e-Governance Infrastructure Limited and changed its name to Protean eGov Technologies Limited in October 2021. Protean eGov Technologies Limited was incorporated in 1995 and is headquartered in Mumbai, India.

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₹620.35
-36.30% 1Y

Market & Price

Market Cap
₹2,519.66 Cr
Current Price
₹620.35
High / Low (52W)
₹973.82 / ₹446.40
Beta
0.15

Valuation

Stock P/E
25.13
Industry PE
25.13
Forward P/E
19.76
PEG Ratio
-
Book Value
₹250.84
Price to Book
2.47
P/S
2.53
EV/EBITDA
19.72
Dividend Yield
1.61%

Profitability & Returns

ROCE
11.72%
ROE
9.69%
ROA
3.09%
Profit Margin
10.08%
Op Margin
7.78%
EPS (Latest Qtr)
₹7.46
EPS (TTM)
₹24.69

Balance Sheet & Liquidity

Debt/Equity
0.08
Quick Ratio
1.74
Current Ratio
2.00
Debt
₹87.49 Cr
Total Assets
₹1,473.59 Cr
Current Assets
₹609.69 Cr
Working Capital
₹304.26 Cr

Ownership

Promoter Holding
23.79%
Chg in Prom Hold
-
FII / Inst Holding
9.11%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹2,278.37 Cr
Total Revenue (TTM)
₹997.75 Cr
EBITDA
₹115.52 Cr
Free Cash Flow
₹-12.45 Cr
Operating Cash Flow
₹78.47 Cr
Shares Outstanding
₹4.06 Cr
Gross Margin
24.14%
Payout Ratio
40.49%

Growth (CAGR)

Revenue 5Y
10.93%
Profit 5Y
-2.05%
Revenue (YoY)
38.40%
Earnings (YoY)
49.10%

PROS

  • Compounding revenue at 10.9% over 5 years.

CONS

  • Earnings shrank at -2.1% CAGR over 5 years.
  • Trading 36.3% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 PROTEAN Protean eGov Technologies Limited NSETECH 620.35 25.13 ₹2,519.66 Cr 1.61% 11.72% 9.69% 10.93% -2.05%
2 TCS Tata Consultancy Services Limited NIFTY50NSEAITECH 2,258.90 16.61 ₹8.17 L Cr 5.49% 54.93% 48.40% 5.80% 5.30%
3 INFY Infosys Limited NIFTY50NSEAITECH 1,160.90 15.01 ₹4.70 L Cr 4.31% 41.66% 31.44% 3.44% 3.58%
4 HCLTECH HCL Technologies Limited NIFTY50NSEAITECH 1,183.80 19.31 ₹3.20 L Cr 8.11% 27.21% 23.36% 8.65% 3.87%
5 WIPRO Wipro Limited NIFTY50NSEAITECH 204.25 16.26 ₹2.14 L Cr 8.32% 18.42% 15.49% 4.05% 2.44%
6 TECHM Tech Mahindra Limited NIFTY50NSEAITECH 1,483.90 27.40 ₹1.31 L Cr 3.44% 20.60% 16.61% 2.16% -0.14%
7 LTM LTM Limited NSETECH 4,061.60 24.04 ₹1.20 L Cr 1.85% 25.39% 21.29% 8.43% 4.41%
8 LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH 1,523.90 61.35 ₹1.03 L Cr - 27.64% 24.72% 0.98% -
9 WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH 3,140.80 27.70 ₹90,345.53 Cr 0.13% 24.21% 31.57% 71.63% 191.18%
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Quarterly Results

Figures in INR.

Metric Sep 2024Dec 2024Mar 2025Jun 2025Dec 2025Mar 2026
Revenue 219.70 Cr202.31 Cr222.15 Cr210.84 Cr228.87 Cr307.54 Cr
Cost of Revenue 166.91 Cr162.61 Cr168.11 Cr172.60 Cr169.82 Cr216.69 Cr
Gross Profit 52.79 Cr39.70 Cr54.04 Cr38.24 Cr59.05 Cr90.85 Cr
Operating Expenses 28.30 Cr29.73 Cr44.25 Cr32.87 Cr38.53 Cr66.92 Cr
Operating Income 24.49 Cr9.97 Cr9.79 Cr5.37 Cr20.52 Cr23.93 Cr
EBITDA 45.20 Cr34.59 Cr34.43 Cr44.93 Cr42.26 Cr52.55 Cr
Interest Expense 49.00 L26.00 L1.09 Cr1.52 Cr1.57 Cr2.08 Cr
Pretax Income 37.57 Cr28.52 Cr25.24 Cr32.37 Cr29.42 Cr36.41 Cr
Tax Provision 9.53 Cr5.59 Cr4.84 Cr8.52 Cr6.92 Cr6.03 Cr
Net Income 28.04 Cr22.93 Cr20.40 Cr23.85 Cr22.50 Cr30.38 Cr
Diluted EPS 6.875.610.005.855.527.46

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -730.83 Cr875.92 Cr840.70 Cr997.75 Cr
Cost of Revenue -434.68 Cr529.51 Cr645.81 Cr756.94 Cr
Gross Profit -296.15 Cr346.41 Cr194.89 Cr240.81 Cr
Operating Expenses -196.34 Cr282.12 Cr142.30 Cr166.28 Cr
Operating Income -99.81 Cr64.29 Cr52.59 Cr74.53 Cr
EBITDA -159.63 Cr157.01 Cr148.59 Cr183.67 Cr
Interest Expense -93.00 L1.67 Cr2.34 Cr6.68 Cr
Pretax Income -140.42 Cr127.86 Cr118.43 Cr130.24 Cr
Tax Provision -33.38 Cr30.57 Cr25.97 Cr29.65 Cr
Net Income -107.04 Cr97.29 Cr92.46 Cr100.59 Cr
Diluted EPS 35.5926.4623.9422.65-

Compounded Sales Growth

5 Years:10.93%
1 Year:38.40%

Compounded Profit Growth

5 Years:-2.05%
1 Year:49.10%

Stock Price Performance

1 Year:-36.30%
6 Months:-24.10%
3 Months:+4.44%
1 Month:+17.06%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -1,104.10 Cr1,185.24 Cr1,306.56 Cr1,473.59 Cr
Current Assets -407.54 Cr436.79 Cr471.03 Cr609.69 Cr
Cash & Equivalents -17.14 Cr45.93 Cr37.85 Cr48.08 Cr
Inventory -----
Receivables -208.86 Cr189.29 Cr144.07 Cr204.64 Cr
Total Liabilities -247.18 Cr259.25 Cr307.78 Cr396.24 Cr
Current Liabilities -227.79 Cr223.78 Cr225.93 Cr305.43 Cr
Long Term Debt -----
Total Debt -7.92 Cr20.79 Cr68.53 Cr87.49 Cr
Total Equity -857.11 Cr926.18 Cr998.78 Cr1,077.35 Cr
Shares Outstanding -4.04 Cr4.04 Cr4.05 Cr4.06 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -136.99 Cr57.54 Cr192.71 Cr78.47 Cr
Investing Cash Flow --282.28 Cr18.70 Cr-158.55 Cr-14.37 Cr
Financing Cash Flow --44.29 Cr-47.45 Cr-42.24 Cr-53.87 Cr
Capital Expenditure --23.85 Cr-31.73 Cr-47.56 Cr-66.78 Cr
Free Cash Flow -113.14 Cr25.81 Cr145.15 Cr11.69 Cr
Net Change in Cash --189.58 Cr28.79 Cr-8.08 Cr10.23 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -40.5%39.5%23.2%24.1%
Operating Margin % -13.7%7.3%6.3%7.5%
Net Margin % -14.6%11.1%11.0%10.1%
ROE % -12.5%10.5%9.3%9.3%
ROCE % -11.4%6.7%4.9%6.4%

Shareholding Pattern

Insiders
23.79%
Institutions
9.11%
Public Float
11.95%

Analyst View

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