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Protean eGov Technologies (544021) investor relations material
Protean eGov Technologies Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 consolidated revenue was ₹270.78 crore, up 8% YoY; PAT was ₹16.40 crore, down from ₹23.86 crore.
Excluding ₹10 crore of RFP implementation costs, Q2 EBITDA was ₹53 crore, up 22% YoY; reported EBITDA was ₹43 crore.
CERSAI CKYCRR 2.0 and Aadhaar Seva Kendra mandates neared full rollout, supporting expectations for improved operating leverage as implementation investments recede.
Priorities include strengthening core DPI, bundling enterprise solutions and exporting Indian DPI capabilities through partnerships and a capital-light international approach.
Financial highlights
Q2 revenue from operations was ₹270.78 crore, up 8% YoY and QoQ; H1 revenue was ₹521.74 crore, up from ₹461.34 crore YoY.
Q2 total income was ₹290 crore, up 9% YoY; H1 total income was ₹556 crore, up 10% YoY.
Reported EBITDA was ₹43 crore in Q2 and ₹71 crore in H1, versus ₹44 crore and ₹89 crore a year earlier.
Reported PAT was ₹16.40 crore in Q2 and ₹22.26 crore in H1, versus ₹23.86 crore and ₹47.71 crore a year earlier.
Excluding RFP investment costs, Q2 EBITDA was ₹53 crore, up 22% YoY; H1 adjusted EBITDA was ₹99 crore, up 12% YoY.
Outlook and guidance
Management expects reported margins to move closer to the underlying run rate as major project investment recedes; ASK revenue is expected to exceed related costs over the next couple of quarters.
FY27 tax-service growth is expected broadly in line with H1, subject to H2 volumes; FY28 visibility depends on PAN 2.0 implementation.
Recurring revenue from new initiatives is expected to rise QoQ, while project-based revenue may remain similar or grow more slowly; quarterly comparisons may be lumpy.
Priorities include growing core segments, delivering CKYCRR 2.0, Bima Sugam, ASK and AgriStack mandates, and scaling AI-enabled bundles, curated APIs and DPI-in-a-Box deployments.
No numerical long-term margin or growth guidance was given; enterprise bundling and international business are expected to support margins as execution scales.
- FY24 revenue grew 19%, but PAT fell 9% and Q4 revenue declined 4%.544021
Q4 23/24 - Lower FY19 revenue, stronger PBT margin, and 35% growth in NPS AUM.544021
Q4 18/19 - FY20 earnings softened as NPS assets grew; COVID-19 clouded recovery prospects.544021
Q4 19/20 - Pandemic pressure cut FY21 earnings as digital operations and NPS assets expanded.544021
Q4 20/21 - PAN- and eSign-led growth lifted FY22 profit, aided by a one-time data centre sale.544021
Q4 21/22 - Revenue advanced, while PAT normalized after a prior-year property-sale gain.544021
Q4 22/23 - Revenue up 19% YoY, new initiatives boost growth, but margins dip on upfront costs.544021
Q1 26/27 - No immediate impact on core PAN services despite PAN 2.0 RFP outcome; business continues as usual.544021
Business Update - 4.95% stake acquired for INR 30.2 crores to co-create scalable digital banking solutions.544021
M&A Announcement
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