| Revenue growth | 19% YoY growth driven by new initiatives and CRA segment strength. |
|---|---|
| Margins | EBITDA margin fell to 10% from 18.7% due to upfront costs. |
| Order book | Aggressive participation in large government RFP mandates currently in deployment phase. |
| Demand visibility | Strong visibility in DPI 2.0, international expansion, and CKYC mandates. |
| Management confidence | Balanced; optimistic on long-term DPI pivot despite short-term margin pressure. |
Growth
Revenue grew 19% YoY to ₹251Cr; normalized EBITDA margin is stable at 17.2%.
Outlook
Expects margin recovery in coming quarters as RFP mandates move to steady-state revenue.
Risks
Upfront RFP costs and hardware inflation are hitting margins before revenue realization starts.
Last quarter's promises, checked
Delivered
- Guided 44 Aadhaar Seva Kendras (ASK) → Delivered 75 ASK (= BEAT)
- Guided 18.7% YoY revenue growth for FY26 → Delivered 19% (= BEAT)
- Guided 17.6% EBITDA margin for FY26 → Delivered 17.2% normalized (= BEAT)
Partly delivered
- Guided 190 ASK by Oct 2026 → Delivered 75 to date (= PARTIAL)
- Guided revenue generation from new centers → Delivered revenue but offset by high implementation costs (= PARTIAL)
Missed
- Guided margin improvement with each passing quarter → Delivered margin crash from 18.7% to 10% (= MISS)
- Guided zero debt and high cash reserves → Delivered zero debt but margin pressure from upfront costs (= MISS)
Earnings Call Transcript filed with BSE, NSE: PROTEAN. Summary written with AI assistance from the document.
Protean eGov Technologies Ltd: key numbers
- Share price
- ₹669.95
- Market cap
- ₹2,732 Cr
- Revenue (annual)
- ₹997.8 Cr
- Net profit (annual)
- ₹100.6 Cr
- P/E (TTM)
- 33.1×Sector 21.6×
- Promoter holding
- 0.00%+0.00% QoQ
- FII holding
- 6.01%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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