Protean eGov Technologies (544021) Q1 25/26 earnings summary

Executive summary

• Revenue from operations grew 7% year-over-year to INR 211 crore in Q1 FY26, led by strong CRA and tax services performance.

• EBITDA increased 31% year-over-year to INR 45 crore, with margin expansion to 18.8%.

• Profit after tax rose 13% year-over-year to INR 24 crore, with a PAT margin of 10%.

• Secured a significant INR 100 crore mandate from Bima Sugam India Federation to build a unified insurance digital platform.

• Board approved an additional equity investment of up to INR 19 crore in Protean International DMCC, a wholly owned Dubai subsidiary, to support international expansion.

Financial highlights

• Revenue from operations: INR 211 crore, up 7% year-over-year; EBITDA: INR 45 crore, up 31% year-over-year; PAT: INR 24 crore, up 13% year-over-year.

• EBITDA margin improved to 18.8%; PAT margin at 10%.

• Cash and cash equivalents exceeded INR 800 crore; company remains debt-free.

• Standalone and consolidated revenue for Q1 FY26 were INR 221.88 crore and INR 222.15 crore, respectively.

• Standalone and consolidated net profit for Q1 FY26 were INR 21.05 crore and INR 20.40 crore, respectively.

Outlook and guidance

• Management expects healthy revenue growth in coming quarters, driven by a robust INR 300 crore RFP order book.

• RFP-based revenues are expected to start contributing meaningfully from Q2/Q3 FY26.

• Additional equity capital infusion in the Dubai subsidiary aims to fund investment opportunities and expand international IT/ITeS operations.

• Optimistic about growth in identity services, supported by Digital India momentum and value-added offerings.

• Focused on expanding across Southeast Asia, Middle East, and Africa, taking India Stack global.