Protean eGov Technologies (544021) Q4 19/20 earnings summary

Executive summary

• FY20 revenue from operations fell to ₹7,161m from ₹7,563m; PAT was ₹1,212m versus ₹1,245m, while digital services remained available through lockdown.

• Growth in NPS assets under management and Aadhaar authentication and e-KYC activity supported a broad e-governance platform; COVID-19 and the resulting disruption cloud the FY21 outlook.

Financial highlights

• Standalone revenue from operations was ₹71,613 lakh versus ₹75,625 lakh; total income was ₹75,462 lakh versus ₹79,105 lakh.

• Standalone PBT was ₹15,727 lakh versus ₹18,180 lakh; PAT was ₹12,124 lakh versus ₹12,448 lakh.

• Basic EPS was ₹30.30 versus ₹31.12; diluted EPS was ₹30.02 versus ₹31.03.

• Net worth increased to ₹7,538m from ₹6,655m; proposed dividend was 100% of face value, or ₹10 per share.

• Operating cash flow was ₹5,378 lakh versus ₹12,691 lakh; cash and cash equivalents ended FY20 at ₹4,099 lakh.

Outlook and guidance

• Physical PAN applications and NPS account openings through service points were impacted; online NPS settlement, e-Sign, e-KYC and online PAN continued normally.

• Volume recovery was ongoing, with disruption potentially lasting a substantial part of FY21; payment delays from financially stressed customers and service providers were a risk.

• Overseas e-governance opportunities in Malaysia, the Philippines, Qatar and African markets were being pursued; Brand India Digital Initiative shortlisted several services for promotion.