Protean eGov Technologies Limited

NSE: PROTEAN · IT Enabled Services

52W Range₹444 ₹940

Snapshot

Unlock Protean eGov Technologies Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Protean eGov Technologies is a prominent Indian IT-enabled services company specialising in large-scale e-governance solutions and digital infrastructure. It provides critical services including PAN card processing, tax information networks, and open digital ecosystems across sectors like health, education, and finance.

Business Model

The company generates revenue through service fees for e-governance infrastructure, system integration, and digital authentication services. It operates as a central recordkeeping agency and provides technology platforms for government and corporate clients on a transaction or subscription basis.

Management Commentary

Management focuses on scaling digital public infrastructure and expanding its suite of API-based services to facilitate seamless digital identity and financial transactions. The company aims to leverage its expertise in population-scale technology to drive digital transformation across multiple sectors.

Growth Outlook

Growth is driven by the increasing digitisation of government services and the adoption of open digital ecosystems in mobility, e-commerce, and education. The expansion into cloud services and advanced data analytics provides further opportunities for revenue diversification.

Key Risks

  • Regulatory Dependency. The company's business model is heavily reliant on government mandates and policies regarding e-governance and digital identity frameworks.
  • Data Security and Privacy. As a handler of sensitive citizen and financial data, the company faces significant risks related to cyber-attacks and potential data breaches.
  • Technological Obsolescence. Rapid advancements in IT infrastructure require continuous investment to maintain competitive relevance and service quality.
  • Client Concentration. A significant portion of revenue is derived from government-linked projects, making the company vulnerable to changes in public sector spending priorities.

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Key Metrics

REVENUE

₹1,038 Cr

TTM · consolidated

+21.4%YoY

NET PROFIT

₹83 Cr

TTM · consolidated

-13.3%YoY

EPS

₹20.36

TTM · consolidated

-13.4%YoY

RETURN ON EQUITY

8.0%

TTM · consolidated

-1.5 ppYoY

RETURN ON CAPITAL EMPLOYED

10.1%

TTM · consolidated

-1.7 ppYoY

P/E

24.4x

Q1 FY27 · consolidated

24.4 vs 22.2x5Y avg

EV/EBITDA

11.5x

Q1 FY27 · consolidated

11.5 vs 12.5x5Y avg

EBITDA MARGIN

16.5%

TTM · consolidated

-2.1 ppYoY

NET PROFIT MARGIN

2.3%

Q1 FY27 · consolidated

-9.0 ppYoY

DEBT TO EQUITY

0.0x

Q1 FY27 · consolidated

+0.00xYoY

Peers · IT Enabled Services

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Protean eGov Technologies LimitedPROTEAN
₹2,016 Cr24.3811.4921.4%16.5%8.0%10.1%-44.8%
Zaggle Prepaid Ocean Services LimitedZAGGLE
₹2,431 Cr18.6410.8644.5%10.9%9.8%13.1%-53.8%
Brightcom GroupBCG
₹1,812 Cr1.790.2225.5%9.6%14.3%-41.3%
KS Smart TechnlogiesKSSMART
₹1,796 Cr9.0%
Aurum ProptechAURUM
₹1,719 Cr28.7612.1662.0%32.4%14.3%5.0%+28.6%
Genesys International Corporation LimitedGENESYS
₹1,544 Cr31.0313.223.7%37.9%4.9%8.4%-62.4%

As of Q1 FY27

Financials