Protean eGov Tech hits the roof after Q1 PAT jumps 53% YoY
EBITDA stood at Rs 53 crore in Q4 FY26, up 55% YoY and 15% QoQ. EBITDA margin improved by 208 basis points YoY to 16.5%, though it declined 249 basis points sequentially. Adjusted profit after tax rose 53% YoY and 18% QoQ to Rs 31 crore.
For FY26, revenue from operations increased 19% to Rs 998 crore, while EBITDA rose 27% to Rs 188 crore. Adjusted PAT climbed 14% to Rs 105 crore.
The company said its balance sheet remained strong with more than Rs 850 crore of cash equivalents and marketable securities and zero debt as of 31 March 2026.
Among business segments, tax services revenue jumped 65% YoY and 56% QoQ to Rs 177 crore in Q4 FY26, supported by higher PAN card issuances ahead of regulatory changes effective from 1 April 2026. CRA services revenue rose 3% YoY and 8% QoQ to Rs 78 crore, while new business revenue surged 95% YoY to Rs 29 crore.
Protean said new businesses contributed 10% of total revenue in FY26 compared with 4% in FY25. The company also highlighted progress in projects such as CERSAI CKYCRR 2.0 and Bima Sugam and said it has rolled out 44 Aadhaar Seva Kendras across 20 states and union territories.
The board recommended a final dividend of Rs 10 per equity share with face value of Rs 10 each for FY26.
Net cash from operating activities stood at Rs 78.47 crore in FY26 compared with Rs 192.71 crore in FY25.
Meanwhile, Ajay Rajan has been appointed as the managing director & chief executive officer of Protean eGov Technologies with effect from 1st June 2026. Prior to joining Protean, he was part of the senior management team at YES Bank, where in his tenure of 8.5 years, he led Transaction & Digital Banking, Government, Multinational and New Economy businesses, IBU and Knowledge Units. Before YES Bank, he served at Deutsche Bank for 21.5 years, with his last role as Global Head of Fintech.
Protean eGov Technologies has been at the forefront of building citizen-scale digital public infrastructure across taxation, social security and identity services. Aligned with India?s open digital infrastructure framework, the company contributes to multisectoral open digital ecosystems spanning e-commerce, transport and mobility, agriculture, insurance, education and skilling, and healthcare.
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