Protean eGov Technologies (544021) Q4 20/21 earnings summary

Executive summary

• FY21 was marked by pandemic-related business pressure: revenue from operations was ₹60,313 lakh versus ₹71,613 lakh in FY20, and PAT was ₹9,246 lakh versus ₹12,124 lakh.

• Strategic priorities include new products, customer segments and geographies, PaaS offerings, cross-functional platforms, and international opportunities.

• Digital services largely continued uninterrupted, while physical PAN applications and NPS account openings through service centres were significantly affected.

Financial highlights

• Total income was ₹65,215 lakh in FY21 versus ₹75,462 lakh in FY20; PBT was ₹11,588 lakh versus ₹15,728 lakh.

• PAT was ₹9,246 lakh versus ₹12,124 lakh; total comprehensive income was ₹8,960 lakh versus ₹11,745 lakh.

• Other income increased to ₹4,902 lakh from ₹3,849 lakh, including ₹2,505 lakh of interest on overdue trade receivables and ₹523 lakh profit on investment sales.

• Operating cash flow rose to ₹10,031 lakh from ₹5,378 lakh; cash and cash equivalents ended FY21 at ₹7,046 lakh versus ₹4,099 lakh.

Outlook and guidance

• Recovery from COVID-19 was underway with vaccination, but business impacts could persist through a substantial part of FY22; forecasts remain dependent on pandemic and policy developments.

• A three-year growth ambition centres on diversification across products, target segments, sectors and geographies; a development centre was under consideration to support new platforms and solutions.

• Plans include building PaaS products, using existing lines for cross-functional offerings, and pursuing international government and private-sector opportunities.