Protean eGov Technologies Limited has appointed Mr. Ajay Rajan as its Managing Director & Chief Executive Officer (MD & CEO) effective June 1, 2026. Consequently, Mr. V Easwaran has ceased to hold the position of Interim CEO with effect from the same date, though he continues to serve as the Whole Time Director and COO of the company. The leadership transition ensures operational continuity within the organization.

The disclosure was submitted in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the change in designation is pursuant to the commencement of Mr. Ajay Rajan's tenure.

Mr. V Easwaran brings over 30 years of experience in the banking industry, focusing on wholesale, retail, and treasury business. He was a key member of the start-up teams for two top private sector banks and one public sector payments bank promoted by the Department of Posts. His expertise spans banking and financial services products, systems, and procedures, including mutual funds, equity markets, and insurance sectors.

Prior to his current role, Easwaran was associated with India Post Payments Bank as Chief Operations Officer for six years. He has also held positions at Kotak Mahindra Bank, HDFC Bank, and Standard Chartered Bank. He holds a Bachelor of Science in Physics, a Diploma in Computer Science, and a Master of Arts in Public Administration.

Protean eGov Technologies Ltd has announced its audited financial results for the quarter and financial year ended March 31, 2026. The company delivered its highest-ever consolidated revenue from operations of INR 998 crore in FY26, representing a 19% year-on-year growth. Profit after tax (PAT) for the year stood at INR 100.59 crore, reflecting an 8.8% growth, while adjusted PAT grew by 14% to INR 105 crore.

Financial Performance

The strong performance was driven by robust momentum across core and new business verticals. EBITDA for FY26 stood at INR 188 crore, a 27% increase from the previous year, with an EBITDA margin of 17.6%. The balance sheet remains robust with zero debt and cash equivalents exceeding INR 850 crore as of March 31, 2026. For the fourth quarter (Q4FY26), the company reported a revenue of INR 308 crore and a net profit of INR 30.38 crore.

Business Highlights

Tax Services reported a 17.5% YoY revenue growth, fueled by a 232 bps gain in market share and a surge in PAN card issuances ahead of regulatory changes. The segment issued over 4.7 crore PAN cards during the year. CRA Services saw the Atal Pension Yojana (APY) surpass 9 crore cumulative enrolments, with Protean retaining a 100% market share in APY. New Businesses contributed 10% to total revenue, up from 4% in FY25, driven by strategic projects like CERSAI CKYCRR 2.0 and Bima Sugam.

Leadership Update

The board has appointed Mr. Ajay Rajan as the Managing Director & Chief Executive Officer effective June 1, 2026. He brings over three decades of experience in banking and digital transformation, previously serving at YES Bank and Deutsche Bank. The company has also uploaded the audio recording of its earnings conference call held on May 21, 2026, to its official website for stakeholder access.