Incorporated in December 1995, Protean eGov Technologies Limited was previously known asNSDL e-Governance Infrastructure Ltdand is engaged in the business of developing citizen-centric and population-scale e-governance solutions.[1]
Business Verticals
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | L&T Technology | 4416.10 | 36.63 | 46805.94 | 1.25 | 329.20 | 2.85 | 2979.50 | 15.80 | 28.29 | 11480.90 | 16.75 | 1277.90 | 328.70 | 7.56 | 13.92 | 0.10 |
| 2. | Inventurus Knowl | 1701.30 | 47.90 | 29205.05 | 0.00 | 180.72 | 59.93 | 781.09 | 21.52 | 27.20 | 2902.31 | 31.55 | 609.74 | 180.72 | 13.03 | 16.71 | 0.34 |
| 3. | Tata Technolog. | 651.05 | 38.10 | 26415.94 | 1.28 | 165.50 | 5.14 | 1323.33 | 2.07 | 25.80 | 5170.65 | 16.93 | 693.29 | 165.50 | 7.41 | 11.06 | 0.07 |
| 4. | Affle 3i | 1821.90 | 61.13 | 25629.98 | 0.00 | 110.51 | 20.13 | 646.72 | 19.13 | 16.82 | 2471.38 | 22.30 | 419.30 | 110.51 | 7.87 | 11.09 | 0.01 |
| 5. | Sagility | 52.02 | 30.48 | 24352.27 | 0.10 | 250.83 | 113.76 | 1658.50 | 25.17 | 9.58 | 6218.99 | 24.55 | 798.87 | 250.83 | 2.74 | 5.08 | 0.14 |
| 6. | Netweb Technol. | 3274.60 | 137.58 | 18551.88 | 0.08 | 31.43 | 20.05 | 303.72 | 20.98 | 32.45 | 1353.57 | 14.29 | 134.84 | 31.43 | 32.06 | 15.15 | 0.03 |
| 7. | Cyient | 1154.20 | 22.74 | 12823.42 | 2.25 | 142.90 | -34.47 | 1781.00 | -3.68 | 16.58 | 7328.40 | 13.90 | 563.86 | 117.36 | 2.30 | 8.87 | 0.08 |
| 8. | Protean eGov | 765.15 | 32.82 | 3107.79 | 1.31 | 26.20 | -14.15 | 249.50 | 13.69 | 11.83 | 883.36 | 9.57 | 94.68 | 26.20 | 3.02 | 7.36 | 0.01 |
| – | Median: 62 Co. | 312.57 | 31.26 | 873.82 | 0.0 | 10.5 | 20.5 | 114.16 | 20.98 | 16.12 | 266.21 | 14.48 | 30.44 | 10.11 | 3.38 | 9.45 | 0.08 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 176 | 203 | 202 | 220 | 196 | 210 | 232 | 222 | 222 | 178 | 235 | 219 | 250 |
Expenses | 143 | 206 | 186 | 185 | 181 | 191 | 198 | 199 | 204 | 148 | 198 | 187 | 218 |
Operating Profit | 33 | -3 | 16 | 35 | 15 | 19 | 34 | 23 | 18 | 30 | 37 | 32 | 32 |
Other Income | 10 | 29 | 16 | 13 | 20 | 29 | 11 | 13 | 17 | 10 | 13 | 15 | 15 |
Profit before tax | 38 | 20 | 27 | 42 | 28 | 35 | 40 | 25 | 26 | 35 | 44 | 40 | 35 |
Tax % | 25% | 21% | 21% | 22% | 22% | 24% | 23% | 17% | 19% | 25% | 24% | 24% | 24% |
Net Profit | 29 | 15 | 21 | 33 | 22 | 26 | 31 | 20 | 21 | 26 | 34 | 31 | 26 |
EPS in Rs | 7.20 | 3.81 | 5.16 | 8.16 | 5.37 | 6.54 | 7.69 | 5.06 | 5.19 | 6.51 | 8.32 | 7.53 | 6.45 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
Sales | 898 | 756 | 716 | 603 | 691 | 741 | 880 | 840 | 883 |
Expenses | 717 | 589 | 568 | 518 | 567 | 622 | 788 | 758 | 799 |
Operating Profit | 181 | 167 | 148 | 85 | 124 | 119 | 92 | 82 | 84 |
Other Income | 27 | 35 | 38 | 49 | 79 | 41 | 68 | 68 | 77 |
Interest | 0 | 0 | 2 | 1 | 0 | 1 | 2 | 2 | 4 |
Depreciation | 11 | 20 | 27 | 17 | 17 | 18 | 27 | 28 | 35 |
Profit before tax | 197 | 182 | 157 | 116 | 186 | 141 | 131 | 120 | 122 |
Net Profit | 136 | 124 | 121 | 92 | 144 | 108 | 100 | 94 | 95 |
EPS in Rs | 33.88 | 31.12 | 30.30 | 23.03 | 35.72 | 26.60 | 24.81 | 23.23 | 23.34 |
Dividend Payout % | 23% | 0% | 0% | 0% | 98% | 38% | 40% | 43% | – |
Standalone figures in ₹ crores
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 40 | 40 | 40 | 40 | 40 | 40 | 40 | 41 | 41 |
Reserves | 530 | 626 | 714 | 628 | 748 | 818 | 890 | 964 | 988 |
Borrowings | -0 | -0 | 14 | -0 | -0 | 8 | 21 | 69 | 14 |
Other Liabilities | 172 | 184 | 173 | 195 | 200 | 239 | 238 | 239 | 279 |
Total Liabilities | 741 | 850 | 940 | 863 | 989 | 1,105 | 1,189 | 1,313 | 1,322 |
Fixed Assets | 136 | 135 | 64 | 51 | 52 | 63 | 86 | 150 | 153 |
Gross Block | 245 | 149 | 229 | 227 | 240 | 270 | 315 | 399 | – |
Accumulated Depreciation | 108 | 14 | 165 | 176 | 188 | 206 | 229 | 250 | – |
CWIP | 6 | 5 | 5 | 1 | 4 | 11 | 11 | 11 | 14 |
Investments | 287 | 373 | 406 | 288 | 375 | 540 | 563 | 674 | 619 |
Other Assets | 312 | 338 | 465 | 523 | 557 | 491 | 529 | 478 | 537 |
Total Assets | 741 | 850 | 940 | 863 | 989 | 1,105 | 1,189 | 1,313 | 1,322 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 99 | 127 | 54 | 100 | 95 | 138 | 60 | 195 |
Cash from Investing Activity | -78 | -103 | -13 | 154 | 75 | -283 | 16 | -161 |
Cash from Financing Activity | -31 | -31 | -39 | -183 | -34 | -44 | -47 | -42 |
Net Cash Flow | -11 | -7 | 2 | 71 | 136 | -189 | 29 | -8 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
Debtor Days | 67 | 88 | 107 | 120 | 106 | 103 | 78 | 63 |
Inventory Days | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | 67 | 88 | 107 | 120 | 106 | 103 | 78 | 63 |
Working Capital Days | 21 | 25 | 99 | 55 | 41 | 19 | 21 | -23 |
ROCE % | – | 29% | 22% | 16% | 20% | 17% | 15% | 12% |
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Stock Analysis
Protean eGov Technologies Limited, formerly NSDL e-Governance Infrastructure Ltd, is engaged in developing citizen-centric and population-scale e-governance solutions.
Protean eGov Technologies focuses on developing citizen-centric and population-scale e-governance solutions. Key growth triggers include building trusted digital public infrastructure (DPI), expanding its role in financial inclusion, and securing significant mandates like the UIDAI contract and NSDL Payments Bank stake. International expansion is also a strategic focus.
Currently no data available for Order Book.
The company has delivered a poor sales growth of 3.23% over past five years. Stock is trading at 3.02 times its book value. The company has a low return on equity of 11.2% over the last 3 years.
March 31, 2026: Last working day of MD & CEO Suresh Sethi.
April 1, 2026: V Easwaran assumes charge as Interim CEO.
Corporate Announcements
