Protean e-Gov posts record ₹998 cr revenue, new business share more than doubles
EBITDA jumps 27% to ₹188 cr; new businesses now account for 10% of revenue, up from 4% in FY25.
— 4 earlier stories on Protean e-Gov Technologies Ltd. →What's new with Protean e-Gov Technologies Ltd.
- Annual revenue hit a record ₹998 cr, up 19% YoY.
- EBITDA grew 27% to ₹188 cr; adjusted PAT rose 14% to ₹105 cr.
- New businesses now contribute 10% of revenue, up from 4% last year.
Why this matters for Protean e-Gov Technologies Ltd.
The revenue and profit numbers were largely pre-announced, but the leap in new-business share shows diversification beyond the core income-tax return processing business is gaining traction. That shift is what investors should care about — it reduces long-term dependency on a single revenue stream.
What we're watching
- Whether the new-business growth trajectory can sustain into FY27.
- Margin trajectory as the mix shifts toward lower-margin new offerings.
- Any guidance on the next phase of the diversification strategy.
The full read
Protean e-Gov delivered a record year — ₹998 crore in revenue, up 19%, and EBITDA of ₹188 crore, up 27%. Adjusted PAT came in at ₹105 crore, 14% ahead of last year. None of this is a surprise: the headline numbers were already out in the board-meeting filing. What is new is the composition. New businesses — everything beyond the core tax-processing mandate — now make up 10% of revenue, more than double the 4% share in FY25. That is the real story. A company that has long lived on one government contract is starting to build a second leg. At 10%, it is early days, but the direction is what matters. The test now is whether the pace accelerates and whether margins hold as the mix shifts.