Protean eGov shareholders approve ₹10 dividend and new auditor at AGM
- All four AGM resolutions passed with requisite majority
- Final dividend of ₹10 per equity share approved for FY26
- T R Chadha & Co LLP appointed as new statutory auditors
- Institutional investors voted 100% in favour of all resolutions
*this image is generated using AI for illustrative purposes only.
Protean eGov Technologies Limited held its 31st Annual General Meeting on September 22, 2026, via video conferencing. Shareholders approved a final dividend of ₹10 per equity share for FY26 and appointed T R Chadha & Co LLP as the company's new statutory auditors.
The meeting commenced at 3:00 pm and concluded at 4:10 pm, with e-voting remaining open for an additional 15 minutes. Shailesh Haribhakti, Non-Executive Non-Independent Director and Chairman, chaired the session. Key managerial personnel, including Managing Director and CEO Ajay Rajan, Whole Time Director and COO V Easwaran, and Chief Financial Officer Sandeep Mantri, were present.
Resolutions approved by shareholders
The Board of Directors presented four ordinary resolutions, all of which were adopted by the members. The key decisions included the adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.
| Item | Resolution | Type | Result |
|---|---|---|---|
| 1 | Adoption of audited standalone and consolidated financial statements for FY26 | Ordinary | Passed |
| 2 | Declaration of dividend of ₹10 per equity share (face value ₹10) for FY26 | Ordinary | Passed |
| 3 | Re-appointment of Shailesh Haribhakti as Director (retiring by rotation) | Ordinary | Passed |
| 4 | Appointment of T R Chadha & Co LLP as Statutory Auditors | Ordinary | Passed |
Voting details and scrutiny report
The scrutiniser’s report, issued by CS Malati Kumar of S. N. Ananthasubramanian & Co., confirmed that all four ordinary resolutions were passed with the requisite majority. The remote e-voting period ran from September 18 to September 21, 2026, with additional e-voting available during the live meeting.
Institutional investors held 50.42% of the votes polled on outstanding shares for most resolutions, casting their votes entirely in favour. Public non-institutional shareholders constituted a smaller portion of the polled votes but recorded dissenting votes across all items.
| Resolution | Total Votes Polled | Votes in Favour (%) | Votes Against (%) |
|---|---|---|---|
| 1. Adopt Financial Statements | 53,26,445 | 99.97% | 0.03% |
| 2. Declare Dividend | 53,26,512 | 99.97% | 0.03% |
| 3. Re-appoint Director | 53,25,995 | 99.93% | 0.07% |
| 4. Appoint Auditors | 52,26,046 | 99.95% | 0.05% |
Leadership updates and operational review
During the proceedings, Ajay Rajan provided an overview of the company’s operational and financial performance for FY26. He highlighted milestones achieved across multiple domains and international geographies, along with new business initiatives and innovative products. The Chairman also facilitated a question-and-answer session where pre-registered shareholders sought clarifications on operations and performance.
Shailesh Haribhakti was re-appointed as a Director following his retirement by rotation. He is eligible and offered himself for re-appointment, which was approved by the shareholders. The appointment of T R Chadha & Co LLP marks a transition in the statutory audit function for the company.
Governance and compliance details
The AGM was conducted in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. Maulesh Kantharia, Company Secretary and Compliance Officer, informed members that statutory registers were available for electronic inspection. Remote e-voting commenced on September 18, 2026, and concluded on September 21, 2026, prior to the live meeting.
Historical Stock Returns for Protean e-Gov Technologies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.90% | +32.27% | +16.50% | +30.09% | -28.18% | -56.32% |
How might the appointment of T R Chadha & Co LLP as statutory auditors influence Protean eGov's future financial reporting transparency and audit risk profile?
What specific international expansion strategies or new product launches did CEO Ajay Rajan highlight that could drive revenue growth in FY27?
Given the 50.42% institutional voting weight, how will Protean eGov address the dissenting votes from public non-institutional shareholders to improve retail investor confidence?
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