Protean eGov Technologies Ltd

Protean eGov Technologies Ltd

₹ 569 -3.53%
02 Mar - close price
About

Incorporated in December 1995, Protean eGov Technologies Limited was previously known as NSDL e-Governance Infrastructure Ltd and is engaged in the business of developing citizen-centric and population-scale e-governance solutions.[1]

Key Points

Business Verticals

  • Market Cap 2,312 Cr.
  • Current Price 569
  • High / Low 1,484 / 560
  • Stock P/E 24.7
  • Book Value 251
  • Dividend Yield 1.76 %
  • ROCE 11.7 %
  • ROE 9.38 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 41.1%
  • Debtor days have improved from 81.3 to 62.6 days.

Cons

  • The company has delivered a poor sales growth of 3.26% over past five years.
  • Company has a low return on equity of 11.0% over last 3 years.
  • Earnings include an other income of Rs.70.1 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
176 232 220 236 204 222 197 220 202 222 211 250 229
143 197 186 199 207 200 181 188 187 204 194 221 197
Operating Profit 32 35 34 36 -3 22 15 32 16 18 16 29 32
OPM % 18% 15% 15% 15% -2% 10% 8% 14% 8% 8% 8% 12% 14%
10 11 13 13 29 13 19 14 19 17 29 15 10
Interest 0 0 0 0 1 1 0 0 0 1 2 2 2
Depreciation 5 5 5 5 6 11 7 7 6 8 11 10 11
Profit before tax 38 41 42 43 19 24 27 38 29 25 32 32 29
Tax % 25% 23% 23% 24% 21% 18% 22% 25% 20% 19% 26% 26% 24%
28 32 32 33 15 19 21 28 23 20 24 24 22
EPS in Rs 7.06 7.82 7.96 8.10 3.77 4.77 5.21 6.92 5.66 5.03 5.88 5.88 5.54
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
755 716 603 691 741 882 841 912
578 568 518 567 623 792 760 817
Operating Profit 177 148 85 124 118 89 80 95
OPM % 23% 21% 14% 18% 16% 10% 10% 10%
33 38 49 79 42 68 68 70
Interest 2 2 1 0 1 2 2 6
Depreciation 28 27 17 17 18 27 28 41
Profit before tax 180 157 116 186 140 128 118 119
Tax % 32% 23% 20% 22% 24% 24% 22%
124 121 92 144 107 97 92 91
EPS in Rs 30.90 30.31 22.99 35.75 26.46 24.05 22.80 22.33
Dividend Payout % 0% 0% 0% 126% 38% 42% 44%
Compounded Sales Growth
10 Years: %
5 Years: 3%
3 Years: 7%
TTM: 9%
Compounded Profit Growth
10 Years: %
5 Years: -6%
3 Years: -7%
TTM: 2%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -56%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 11%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 40 40 40 40 40 40 41 41
Reserves 626 714 628 748 817 886 958 977
20 14 0 12 8 21 69 67
184 172 195 188 239 238 239 231
Total Liabilities 870 940 863 988 1,104 1,185 1,307 1,316
157 64 51 65 63 86 153 155
CWIP 5 5 1 4 11 13 11 14
Investments 373 406 285 364 529 550 661 605
335 465 525 555 501 536 482 542
Total Assets 870 940 863 988 1,104 1,185 1,307 1,316

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
136 54 100 11 137 58 193
-104 -13 157 -139 -282 19 -159
-39 -39 -183 -1 -44 -47 -42
Net Cash Flow -7 2 74 -129 -190 29 -8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 88 107 120 106 103 78 63
Inventory Days
Days Payable
Cash Conversion Cycle 88 107 120 106 103 78 63
Working Capital Days 25 99 55 41 18 20 -24
ROCE % 22% 16% 19% 17% 14% 12%

Insights

In beta
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Aadhaar Authentications (Annual)
Crore

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CRA Cumulative Subscribers (NPS + APY)
Crore
e-KYC Transactions (Annual)
Crore
e-Sign Transactions (Annual)
Crore
PAN Cards Issued (Annual)
Crore
APY Subscribers (Cumulative)
Crore
NPS Subscribers (Cumulative)
Crore
Total Assisted Touchpoints / Distribution Points
Number
Market Share - CRA Subscribers (NPS/APY)
%
Market Share - Cumulative PAN Issuance
%

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
10.64% 9.74% 8.61% 6.71% 9.90% 10.90% 8.78% 7.77% 7.54%
51.04% 40.97% 30.07% 28.87% 30.09% 27.80% 24.75% 21.68% 21.45%
38.32% 49.28% 61.32% 64.43% 60.00% 61.29% 66.46% 70.54% 71.00%
No. of Shareholders 95,6781,46,3131,57,9751,60,6381,94,6232,09,5382,42,1852,37,7192,28,220

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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