Protean e-Gov Technologies Limited, a key player in the technology sector, has announced a significant change in its senior management. Bertram D'Souza, the company's Executive Vice President and Chief Products Innovation Officer, has tendered his resignation due to personal reasons.

Resignation Details

The company disclosed this information in compliance with Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Here are the key details of the resignation:

Impact on Company Structure

This resignation marks a change in Protean eGov Technologies' senior management structure. As the Chief Products Innovation Officer, D'Souza held a crucial role in overseeing product innovation at the firm.

Transition Period

The company has not yet announced a successor for the position. The period between the announcement and D'Souza's last working day (approximately three weeks) could be utilized for knowledge transfer and to ensure a smooth handover of responsibilities.

Company's Response

Protean eGov Technologies has not provided any immediate statement regarding their plans to fill this position or any potential impact on their ongoing projects or product roadmap.

As this news represents a change in the company's management, it may be of interest to stakeholders and investors.

Protean e-Gov Technologies has reported robust financial performance in its latest quarterly results, showcasing significant growth and securing a major government contract. The company's strategic initiatives and diversification efforts have contributed to its strong market position.

Financial Highlights

Protean eGov Technologies demonstrated impressive growth in its recent quarter:

Major Contract Win

The company has secured a significant mandate from the Unique Identification Authority of India (UIDAI):

• Contract Value: ₹1,370.00 crores
• Scope: Establishment of district-level Aadhaar Seva Kendras across 188 districts
• Expected Annual Recurring Revenue: ₹200.00 crores (once fully operational)

Business Segment Performance

New Businesses

• Contribution to operating revenue increased from 4% last year to 17% this quarter
• Growth driven by CERSAI and BimaSugam RFP execution

Tax Services

• Revenue: ₹107.00 crores (8% sequential growth)
• Market share: 58%
• Over 1 crore PAN cards issued during the quarter

CRA (Central Recordkeeping Agency) Business

• Revenue: ₹78.00 crores (12% year-on-year growth)
• 41 lakh new pension subscribers onboarded
• Market share in pension subscriber base: 98%

Financial Position

Protean eGov Technologies maintains a strong financial position:

• Cash and cash equivalents: Over ₹800.00 crores
• Debt: Zero
• Order book: ₹1,600.00 crores

The company's robust balance sheet and growing order book indicate a solid foundation for future growth and expansion.

Conclusion

Protean eGov Technologies' impressive quarterly performance, coupled with its significant UIDAI contract win, positions the company for continued success in the e-governance and financial services technology sector. The diversification of revenue streams and strong market share in key segments demonstrate the company's resilience and growth potential in the evolving digital landscape of India.