Protean Egov Technologies Limited · NSE:PROTEAN
Protean Egov Technologies — Q2 FY2026 Earnings Presentation
35 slides from Protean Egov Technologies's earnings presentation, Nov 6, 2025
Slide 1: Exchange filing cover letter
Ref: Protean/Secretarial/2025-26/75 November 6, 2025 To, BSE Limited (“BSE”) National Stock Exchange of India P.J. Towers, Dalal Street, Limited Fort, Mumbai – 400 001 Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Scrip Code: 544021 Mumbai – 400051, India Trading symbol: PROTEAN De
Slide 2: Q2 & H1FY26 Investor Presentation
Q2 & H1FY26 Investor 0 Presentation PROTEAN eGOV TECHNOLOGIES LIMITED
Slide 3: Index
Index 01 Company Overview & Investment Thesis 02 Q2FY26 Updates 03 Business Overview Protean eGov Technologies Limited I Investor Presentation 2025-26
Slide 4: Company Overview & Investment Thesis
Company Overview & Investment Thesis 01 About Protean - Contributors to Building DPI 02 Uniquely Positioned for Future Growth 03 Driving the Change: Building for Billions 04 Strategically Positioned to serve India’s Digital Growth Story 05 Protean – Business Opportunity Overview Protean eGov Technol
Slide 5: About Protean: Contributors to Building DPI
About Protean: Contributors to Building DPI Over 3 decades of experience in building Digital Public Infrastructure Enabled 21+ nationally critical e-Governance stacks while (DPI) & developing innovative citizen-centric e-governance solutions working with several ministries across diverse sectors Foc
Slide 6: Uniquely Positioned for Future Growth
Uniquely Positioned for Future Growth Pioneer and Architect of India’s DPI journey; Market Leader Taxation (cumulative 63% share), Central custodian of nation-critical databases like Tax and Recordkeeping Agency (98% market share), Identity Pension records Services: Leader across B2G | B2B 08 01 Tak
Slide 7: Driving the Change: Building for Billions
Driving the Change: Building for Billions Tax Services Central Recordkeeping Agency Digital Identity • Issuers of the First Digitally Verifiable Tax • Largest Central Recordkeeping Agency • Sole provider of all four foundational ID identity services : e-KYC, Aadhaar Auth, e- • 98% market share with
Slide 8: Strategically Positioned to serve India's Digital Growth Story
Strategically Positioned to serve India’s Digital Growth Story India’s Next-Generation Digital Growth Enablers Demographic Shift Financialization Digitization Enabling inclusion across age, income, and Accelerating formalization, compliance, Multisector scalable, interoperable digital geography and
Slide 9: Protean: Business Opportunity Overview
Protean: Business Opportunity Overview Our Edge Opportunity Size 4L+ assisted touchpoints, deep Tier • Taxpayer base growing at 6.6% CAGR Tax Services 2/3 presence, and seamless digital • Only ~40% population holds valid PAN PAN issuance card • 550 Mn Jan Dhan accounts vs 80 Mn APY Near-total mark
Slide 10: Q2FY26 Update
Q2FY26 01 MD Commentary 02 Q2FY26 Key Highlights Update 03 Strategic Win – Landmark UIDAI ASK Mandate 04 Global Fintech Fest - 2025 05 Key Drivers – Quarterly 06 Financial Performance Protean eGov Technologies Limited I Investor Presentation 2025-26
Slide 11: MD Commentary
MD Commentary Landmark INR 1,370 crore mandate from UIDAI to establish and operate 188 District-Level Aadhaar Seva Kendras (ASKs) — a strong testament to Protean’s proven capability in executing population-scale projects “ “I'm glad to share that Protean has delivered a resilient performance in Q2FY
Slide 12: Q2FY26 – Key Highlights
Q2FY26 – Key Highlights Tax Services CRA Services Identity Services New Businesses The company maintained its Healthy double-digit Continues to build on the strong Marked a significant milestone, leading market share of 58% momentum of the Digital India with new businesses contributing revenue growt
Slide 13: Q2FY26 – Key Highlights
Q2FY26 – Key Highlights • Protean won ₹1,370 Cr. landmark mandate from UIDAI for district level Aadhaar Seva Kendras (ASKs) UIDAI ASK • Covering ASKs in 188 district across India for an initial period of 6 years Mandate • End-to-end responsibility for infrastructure setup, daily operations and deliv
Slide 14: Strategic Win – UIDAI Aadhaar Seva Kendra (ASK) Mandate
Strategic Win – UIDAI Aadhaar Seva Kendra (ASK) Mandate UIDAI mandate to Protean won Reinforces establish district ₹1,370 crore, Protean as India’s level ASKs mandate for ASK Identity Backbone • UIDAI issued mandate for • Won ₹1,370 Cr mandate from • Deepens leadership in population- engagement of s
Slide 15: Global Fintech Fest – 2025
Global Fintech Fest – 2025 The Global Fintech Fest, the world’s largest and the most prestigious fintech event, brought together leading industry veterans, innovators, and government authorities. Protean took the centre stage with its powerful theme: “If it’s fintech, it must be powered by Protean.”
Slide 16: Key Drivers - Quarterly
Key Drivers - Quarterly (in crore) PAN Services CRA Services e-Sign Transactions 1.2 1.1 8.8 7.7 50% 56% 3.6 3.8 50% 44% 0.4 0.4 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Offline Online Cumulative New Additions Total PANs issued till date 54.7 Cr Cumulative till date 67.2 Cr e-KYC Transactions Aadha
Slide 17: Financial Performance
Financial Performance (₹ in crore) Particulars Q2FY26 Q2FY25 YoY Q1FY26 QoQ H1FY26 H1FY25 YoY Revenue from Operations 251 220 14% 211 19% 461 416 11% Other Income 15 14 8% 29 -49% 43 33 31% Total Income 265 233 14% 239 11% 504 449 12% - Tax Services 107 119 -10% 100 8% 207 217 -4% - CRA Services 78
Slide 18: Balance Sheet
Balance Sheet (₹ in crore) Assets Sep’25 Mar’25 Equity & Liabilities Sep’25 Mar’25 Tangible Assets 42 47 Shareholder’s Equity 1,018 999 Right-of-use / Intangible Assets 127 116 Borrowings - - Financial Assets 516 616 Lease and Other Non-Current 72 82 Liabilities Other Non-Current Assets 42 56 Total
Slide 19: Modernization of India's Tax Infrastructure
Modernization of India’s Tax Infrastructure 01 Growing Use Cases, Expanding TAM: PAN’s Rising Utility.. 02 Protean – a leader in Tax Service Protean eGov Technologies Limited I Investor Presentation 2025-26
Slide 20: Growing Use Cases, Expanding TAM: PAN's Rising Utility
Growing Use Cases, Expanding TAM: PAN’s Rising Utility.. India’s Population (in cr.) ~40% Universal Business ID Indian population Single identifier for businesses – Key document for registration 146.4 & regulatory compliance 145.1 with a valid PAN card 143.8 142.5 Digital Economy Enabler ~5 Cr Vital
Slide 21: Protean – a leader in Tax Services
Protean – a leader in Tax Services Stable recurring revenue potential backed by government mandates & rising compliance needs Protean - Annual PAN Issued (in cr.) Tax Services Revenue (₹ in cr.) 7% CAGR 10% CAGR 3.0 3.7 4.1 5.0 4.4 23% 30% 39% 48% 53% 487 77% 434 424 70% 366 61% 52% 323 47% FY21 FY2
Slide 22: Central Recordkeeping Agency NPS|APY|UPS
Central Recordkeeping Agency NPS|APY|UPS 01 CRA Services: Large Headroom for Growth 02 Protean – Strengthening the Social Security Infra Protean eGov Technologies Limited I Investor Presentation 2025-26
Slide 23: Central Recordkeeping Agency: Large Headroom for Growth
Central Recordkeeping Agency: Large Headroom for Growth Government Support for Pension No. of Accounts under PM Jan Dhan Growth Drivers Expansion Yojana (In Cr.) • NPS employer contribution increased from • Low Pension Coverage (AUM) : India’s ~ 10% to 14% (under the New Regime) 17% of GDP vs 55%+ i
Slide 24: Protean – Strengthening the Social Security Infra
Protean – Strengthening the Social Security Infra CRA Services – No. of subscribers (in cr) CRA Services - Revenue (₹ in cr) 18% CAGR 9% CAGR 8.2 283 7.2 253 6.2 204 221 197 5.1 4.2 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Protean’s Dominant Position... Built India’s First Digital India’s l
Slide 25: Key Contributor: India's Foundational Identity
Key Contributor : India’s Foundational Identity 01 Steady growth in Digital Identity Services 02 Protean – Comprehensive Service Portfolio 03 Data Stack: Opportunity Protean eGov Technologies Limited I Investor Presentation 2025-26
Slide 26: Steady growth in Digital Identity Services
Steady growth in Digital Identity Services Growth Drivers Increase in Mobile Phone and Banking Penetration and World’s largest Direct Benefits Internet Subscribers Digital Transactions Transfer Programme • 1.1 Bn+ Mobile Connections • 80%+ Banking Penetration (550 Mn • Estimated Savings of $52 Bn ac
Slide 27: Protean – Comprehensive Service Portfolio
Protean – Comprehensive Service Portfolio Aadhaar Authentication Online Pan Verification Revenue – Identity Services (IN CRORES) (IN CRORES) (₹ IN CRORES) ~15 lacs ~88 lacs 56.5 Transactions Transactions 47.5 per day 326.7 321.6 per day 111 Dominant 241.3 ~90% Market 99 market 212.3 Share 27.5 27.7
Slide 28: Data Stack: Opportunity
Data Stack: Opportunity Opportunity Size Value (in Cr) Proposition • Sole provider with end-to-end stack: Aadhaar e-Sign + e-Sign Workflow eSignPro + e-Stamping + Document Management System (Digital Document ~1,700 • Market leader with strong forward and backward integration (in-house Management) e-
Slide 29: Open Digital Ecosystems - ODE
Open Digital Ecosystems - ODE 01 Building Digital Public Infrastructure layer by layer Protean eGov Technologies Limited I Investor Presentation 2025-26
Slide 30: Building Digital Public Infrastructure layer by layer
Building Digital Public Infrastructure layer by layer to solve for population scale challenges Aligned with India’s visionary DPI framework built on open standards and protocols, Protean continues to contribute towards multisectoral Open Digital Ecosystems TAX CRA IDENTITY INSURANCE PAN - Digitally
Slide 31: Cloud and Infosec
Cloud and Infosec 01 Cloud and Infosec Protean eGov Technologies Limited I Investor Presentation 2025-26
Slide 32: Cloud & Infosec
Cloud & Infosec India’s cloud computing market is projected to grow Protean’s Offerings Value Proposition at a CAGR of 26.5% and reach ~USD 76 billion by 2030, as compared to ~USD 18 billion in 2024. One of India’s few providers of self-service on-premise Protean On-Premise cloud that uses open-sour
Slide 33: International Business
International Business 01 DPI Components – For International Markets Protean eGov Technologies Limited I Investor Presentation 2025-26
Slide 34: DPI Components – For International Markets
DPI Components – For International Markets Target Geographies Foundation Foundation ID ✓ South East Asia It is a ID Open Source Source long established fact ✓ Middle East Digital Public DigitalthatPublic will be a reader ✓ Africa distracted by the readable Goods content (DPG) (DPG) of a page when lo
Slide 35: Thank You
DISCLAIMER PROTEAN eGOV TECHNOLOGIES LIMITED |INVESTOR PRESENTATION 2025-26 This presentation and the accompanying slides (the “Presentation”) have been prepared by Protean eGov Technologies Limited (the “Company”) solely for information purposes and do not constitute any offer, recommendation, or T
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