Protean e-Gov Technologies (NSDL) , a pioneer in building Digital Public Infrastructure (DPI), has announced its financial results for the first quarter of fiscal year 2026, ending June 30, 2025. The company reported robust growth across key business segments and approved a significant investment in its Dubai-based subsidiary.

Financial Highlights

Protean eGov Technologies delivered a strong performance in Q1 FY2026:

• Consolidated revenue from operations stood at INR 210.84 crore, up from INR 196.54 crore in Q1 FY2025, marking a 7.3% year-on-year growth.
• EBITDA increased significantly to INR 45.00 crore, compared to INR 34.00 crore in the same quarter last year, with the EBITDA margin expanding by 284 basis points to 18.8%.
• Profit After Tax (PAT) rose to INR 23.85 crore, a 13.1% increase from INR 21.09 crore in Q1 FY2025.
• The company maintains a strong balance sheet with over INR 800.00 crore in cash equivalents and marketable securities, and zero debt as of June 30, 2025.

Segment Performance

Tax Services

The segment saw a market share gain of nearly 80 basis points, increasing from 58.2% in Q4 FY2025 to 59.0% in Q1 FY2026. Protean issued around one crore PAN cards during the quarter.

CRA Services

This segment, which includes NPS, APY, and UPS, posted a healthy 16% year-on-year revenue growth. The company onboarded 32.4 lakh new subscribers, capturing a significant 98% market share in new subscriber additions.

Identity Services

While this segment experienced robust volume growth across most ID products, revenue was impacted due to slab-based pricing and pricing pressure at the foundational level.

New Businesses

The company is focusing on contributing to various Open Digital Ecosystems (ODEs) in areas such as e-commerce, mobility, health, agriculture, education, and sustainability.

Strategic Developments

1. Dubai Subsidiary Investment: The Board of Directors approved an additional investment of up to INR 19.00 crore in Protean International DMCC, its wholly-owned subsidiary in Dubai. This equity infusion will increase the subsidiary's share capital from AED 400,000 to AED 7,946,000, maintaining 100% ownership. The investment aims to fund the subsidiary's needs for international business opportunities in IT/ITeS services across multiple countries.

2. Partnership with NITI Aayog: Protean eGov Technologies has entered into a Statement of Intent (SoI) with NITI Aayog to advance the implementation of key social security schemes like the Atal Pension Yojana (APY) across 64 Aspirational Districts, reinforcing its commitment to financial inclusion.

3. Strategic Contract Win: The company secured a INR 100.00 crore mandate from Bima Sugam India Federation (BSIF) to build an ambitious Insurance Digital Public Infrastructure, envisioned as a unified, nation-scale marketplace for insurance products and services.

Management Commentary

Suresh Sethi, Managing Director and Chief Executive Officer of Protean eGov Technologies, commented on the results: "Protean continues to retain its position as a leader in the Digital Public Infrastructure space, delivering yet another resilient quarter. Our Tax and CRA services have demonstrated steady growth, with CRA recording a robust 16% YoY increase. Our partnership with NITI Aayog will further strengthen financial inclusion in Aspirational Districts and is a significant step towards empowering vulnerable sections of society and enhancing their financial security."

The company's focus on innovation, financial inclusion, and scale positions it well for continued growth and value creation for stakeholders in the evolving digital landscape of India.

Note: All financial figures are in Indian Rupees (INR) unless otherwise stated.

Protean eGov Technologies Limited , a prominent player in the digital and technology sector, has announced a significant change in its senior management team. Effective August 4, 2025, Sandeep Mantri, who has been serving as the company's Chief Financial Officer, will take on an expanded role as the Chief Financial & Impact Officer (CFIO).

Expanded Responsibilities

This strategic move comes in the wake of Dipali Sheth's retirement from her position as Chief Human Resource & Impact Officer on August 1, 2025. In his new capacity, Mantri will oversee not only the financial aspects of the company but also its Corporate Social Responsibility (CSR) and Impact functions.

Sandeep Mantri's Profile

Sandeep Mantri brings a wealth of experience and expertise to his new role:

• Education: Mantri is an alumnus of the Berkeley-Haas School of Business and the Indian Institute of Management (IIM) Calcutta.
• Professional Qualifications: He holds certifications as a Chartered Accountant and a Certified Public Accountant (USA).
• Work Experience: With approximately 24 years of experience, Mantri has worked across various sectors including digital technology, media, manufacturing, and professional consulting.
• Previous Roles:
  • Served as Executive Vice President and Chief Financial Officer at Datamatics Global Services Limited for 8 years.
  • Held positions at Network18 Media & Investments Limited, Syntel Group, and Clariant India.

Areas of Expertise

Mantri's expertise spans a wide range of areas crucial for his new role:

• Digital transformation
• Financial controls
• Corporate governance and tax
• Funding and Mergers & Acquisitions (M&A)
• Strategic and financial planning
• Auditing and Management Information Systems (MIS)
• Cost reduction strategies
• Corporate restructuring

This appointment aligns with Protean eGov Technologies' commitment to integrating financial management with social impact initiatives. As the company continues to evolve in the digital and technology landscape, Mantri's diverse skill set and extensive experience are expected to play a pivotal role in driving both financial performance and corporate responsibility.

The changes in senior management, as disclosed by the company to the stock exchanges, reflect Protean eGov Technologies' strategic approach to leadership and its focus on maintaining strong financial management while emphasizing social impact.