Protean eGov Technologies Limited
₹629.75-₹2.85 (-0.5%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹2,888 Cr
- P/E
- 30.5x
- EV / EBITDA
- 17.5x
- Revenue
- ₹840 Cr
- Net margin
- 11.4%
- ROCE
- 9.7%
Price chart
Technical chartScreen technicals →-25.8% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -4.3%
- 3M
- +1.6%
- 6M
- +18.8%
- 1Y
- -25.8%
- 5Y
- -44.4%
52-week range
Day change -₹2.85 (-0.5%) from ₹633 to ₹630 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in PROTEAN, bought on each weekday since 2023.
AI Summary
Indian StockStrengths1
- Maintains healthy dividend payout of 40.0%
Concerns1
- Other income is 51.9% of PBT — a large share of earnings is non-operating
Rule-based from financial data. Not advice.
About the company
Protean eGov Technologies Limited, together with its subsidiaries, provides information technology (IT) enabled e-governance services in India.
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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.
- Sector
- Technology
- Shares outstanding
- 4.1 Cr shares
- ISIN
- INE004A01022
- BSE code
- 544021
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹2,888 Cr
- P/E
- 30.5x
- P/B
- 2.8x
- EV / EBITDA
- 17.5x
- EV / Sales
- 3.2x
- P/S
- 3.3x
- Earnings yield
- 3.3%
- 52-week high
- ₹874.30
- 52-week low
- ₹446.70
Profitability
- Operating margin
- 10.5%
- Net margin
- 11.4%
- EBITDA margin
- 18.2%
- ROE
- 10.8%
- ROCE
- 9.7%
- ROA
- 8.4%
- Dividend payout
- 40.0%
- Tax rate
- 23.0%
- Other income, % of PBT
- 51.9%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹840 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -4.5%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 4.2%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹160 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 0.0%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -6.0%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -3.7%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹60.0 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -56.5%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹8.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 7.6%
Solvency and efficiency
- Current ratio
- 4.59
- Debt / Equity
- 0.02
- Debt / Assets
- 0.02
- Debt / EBITDA
- 0.13
- Interest coverage
- 46.00
- Financial leverage
- 1.28
- CFO / Net profit
- 0.60
- Cash / Market cap
- 18.3%
- Cash per share
- ₹130.24
- Asset turnover
- 0.74
- Fixed asset turnover
- 10.23
- Capital intensity
- 0.10
- Debtor days
- 78 days
- Cash conversion cycle
- 78 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹11 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹758 Cr |
| Sales | Operating profit | ₹82 Cr |
| Operating profit | Interest | ₹2 Cr |
| Operating profit | Depreciation | ₹28 Cr |
| Operating profit | Profit before tax | ₹52 Cr |
| Other income | Profit before tax | ₹68 Cr |
| Profit before tax | Tax and other | ₹26 Cr |
| Profit before tax | Net profit | ₹94 Cr |
Revenue and net profit
Revenue fell 4.5% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹603 Cr | ₹92 Cr |
| FY2022 | ₹691 Cr | ₹144 Cr |
| FY2023 | ₹741 Cr | ₹108 Cr |
| FY2024 | ₹880 Cr | ₹100 Cr |
| FY2025 | ₹840 Cr | ₹94 Cr |
Cash flows
FY2025: ₹195 Cr from operations, ₹34.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹100 Cr | ₹254 Cr |
| FY2022 | ₹95 Cr | ₹170 Cr |
| FY2023 | ₹138 Cr | -₹145 Cr |
| FY2024 | ₹60 Cr | ₹76 Cr |
| FY2025 | ₹195 Cr | ₹34 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹840 Cr-4.5%1Y
- Net profit
- ₹94 Cr-6.0%1Y
- Cash from operations
- ₹195 Cr
- Free cash flow
- ₹34 Cr-55.3%1Y
- Revenue CAGR, 5Y
- 4.2%
- EBITDA CAGR, 5Y
- -3.0%
- Net profit CAGR, 5Y
- -3.7%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹840 Cr | ₹82 Cr | — | ₹94 Cr | ₹195 Cr | ₹34 Cr | 9.4% | -4.5% | -6.0% |
Monthly returns
Month-by-month returns of PROTEAN across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,313 Cr |
| Equity capital | ₹41 Cr |
| Reserves | ₹964 Cr |
| Borrowings | ₹69 Cr |
| Other liabilities | ₹239 Cr |
| Assets | ₹1,313 Cr |
| Fixed assets | ₹150 Cr |
| Capital work in progress | ₹11 Cr |
| Investments | ₹674 Cr |
| Other assets | ₹478 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
PROTEAN trades at 30.5x earnings against a peer median of 52.1x (a 41% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Protean eGov Technologies LimitedPROTEANthis companyP/E ↓ discount | ₹2,888 Cr | 30.5x | 2.8x | 10.8% | 17.5x |
| MOSCHIP TECHNOLOGIES LIMITEDMOSCHIP | ₹3,729 Cr | 95.8x | 10.2x | 2.2% | 163.7x |
| Shilchar Technologies Ltd.SHILCTECH | ₹3,663 Cr | 20.6x | 8.7x | 43.8% | 28.7x |
| Sandhar Technologies LimitedSANDHAR | ₹3,369 Cr | 19.2x | 2.7x | 10.9% | 13.3x |
| Advanced Enzyme Technologies LimitedADVENZYMES | ₹3,248 Cr | 26.5x | 4.8x | 18.6% | 22.1x |
| 63 Moons Technologies Limited63MOONS | ₹3,203 Cr | 83.9x | 1.1x | 9.4% | 10.1x |
| Cyient DLM LimitedCYIENTDLM | ₹3,173 Cr | 42.1x | 3.3x | 6.7% | 22.3x |
| ROSSARI BIOTECH LIMITEDROSSARI | ₹3,016 Cr | 25.0x | 2.7x | 10.4% | 17.7x |
| Network People Services Technologies LimitedNPST | ₹2,762 Cr | 97.8x | 6.6x | 47.4% | 59.8x |
| Peer median | — | 52.1x | 7.8x | 14.5% | 34.2x |
Year-to-date ROI
PROTEAN since 1 January, against earlier years.
Historical volatility
PROTEAN's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 14.0% |
| FY2022 | 18.0% |
| FY2023 | 16.0% |
| FY2024 | 10.0% |
| FY2025 | 10.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹840 Cr |
| Costs | |
| Interest | ₹2 Cr |
| Expenses | ₹758 Cr |
| Operating profitOperating Profit | ₹82 Cr |
| Other income and charges | |
| Profit before tax | ₹120 Cr |
| Tax | |
| Net profitNet Profit | ₹94 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,313 Cr |
| Equity capitalEquity Capital | ₹41 Cr |
| Reserves | ₹964 Cr |
| Borrowings | ₹69 Cr |
| Other liabilitiesOther Liabilities | ₹239 Cr |
| AssetsTotal Assets | ₹1,313 Cr |
| Fixed assetsFixed Assets | ₹150 Cr |
| Capital work in progressCWIP | ₹11 Cr |
| Investments | ₹674 Cr |
| Other assetsOther Assets | ₹478 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹195 Cr |
| Investing cash flowCash from Investing Activity | -₹161 Cr |
| Financing cash flowCash from Financing Activity | -₹42 Cr |
| Change in cashNet Cash Flow | -₹8 Cr |
Learn while you research
Academy chapters picked for Protean eGov Technologies Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 30.5, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Growth InvestingTech & communications often trade on growth, learn the framework.7 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read