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Protean eGov Technologies reported strong Q3FY26 results, with revenue up 13% YoY to ₹229 Cr, EBITDA rising 34% to ₹46 Cr, and Profit After Tax increasing 15% to ₹26 Cr. The company boasts a debt-free balance sheet with ~₹800 Cr in cash.
Growth drivers included a 14% YoY revenue jump in Tax Services (over 1.1 Cr PAN cards issued) and robust performance in CRA Services, securing 94% market share in new subscribers with 35 lakh additions. New businesses significantly expanded, contributing 11% to 9MFY26 revenue, up from 4% in FY25.
Key developments include a ₹25 Cr international mandate for Ethiopia’s Agriculture Ecosystem and the completion of Phase 1 of Aadhaar Seva Kendra (ASK) rollout, with 34 centers operational and revenue commencing. Protean also acquired a 4.95% stake in NSDL Payments Bank for ₹30.2 Cr to boost digital banking solutions.
Management is focused on business diversification into sectors like agriculture, insurance, and education, and is leveraging India's Digital Public Infrastructure (DPI) expertise for global expansion across Southeast Asia, the Middle East, and Africa. Pension sector reforms are viewed as strong tailwinds.