Protean eGov Technologies (544021) Q4 21/22 earnings summary

Executive summary

• FY22 revenue from operations rose 14.55% YoY to ₹6,909.09m and PAT increased 55.62% to ₹1,438.87m; growth was led by higher PAN and eSign volumes.

• Expanded reach to 1.03m PAN/TIN centres and strategic network entities; strategic priorities included open digital ecosystems, Account Aggregator, cloud, cybersecurity and international markets.

Financial highlights

• Total income was ₹7,697.11m vs ₹6,521.51m; revenue from operations was ₹6,909.09m vs ₹6,031.32m, up 14.55% YoY.

• PBT was ₹1,855.32m vs ₹1,158.80m; PAT was ₹1,438.87m vs ₹924.60m and basic EPS was ₹35.77 vs ₹23.08.

• Total expenses increased 8.94% to ₹5,841.79m; the increase reflected higher variable expenses accompanying PAN and eSign volume growth.

• Operating cash flow was ₹945.19m; cash and cash equivalents rose to ₹2,062.50m from ₹704.63m.

Outlook and guidance

• Strategy targets expansion into open digital ecosystems, healthcare, education and agriculture, alongside digital onboarding and data verification APIs.

• Account Aggregator services, Protean Cloud and cybersecurity advisory were positioned as new growth lines; Account Aggregator had RBI in-principle approval, with operations subject to final registration.

• International plans included projects under the Ministry of External Affairs' Development Partnership Framework and COWIN customization for other countries.

• Net-zero operating ambition set for calendar 2026, supported by emissions measurement, clean energy transition, efficiency programs, monitoring and benchmarking.