Interim report
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Protean eGov Technologies Ltd. (CIN L 72900MH1995PLC095642) 1st Floor, Times Tower, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013T: +91 22 4090 4242; www.proteantech.in Ref: Protean/Secretarial/2025-26/101 February 11, 2026 To, BSE Limited (“BSE”) P.J. Towers, Dalal Street, Fort, Mumbai – 400 001 Scrip Code: 544021 National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400051, India Trading symbol: PROTEAN Dear Sir/Madam, Subject: Outcome of Board Meeting held on February 11, 2026 Pursuant to the provisions of Regulation(s) 30, 33 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Board of Directors of Protean eGov Technologies Limited (“the Company ”) at their Meeting held today i.e. February 11, 2026, have inter -alia approved the Unaudited Financial Results (Standalone & Consolidated) for the quarter and nine months ended December 31 , 202 5 alongwith the Limited Review Report of the Statutory Auditors’ thereon; Further, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company hereby informs that Ms. Preeti Mehta (DIN: 00727923) will be completing her term as an Independent Director of the Company with effect from the close of business hours on February 14, 2026 and consequently ceases to be a member of all the Committees of the Board wherever she was appointed. We enclose herewith: Unaudited Financial Results (Standalone & Consolidated) for the quarter and nine months ended December 31, 2025 and Limited Review Report of the Auditors’ thereon; The Board Meeting commenced at 2:00 P.M. and concluded at 4:00 P.M. protean
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Protean eGov Technologies Ltd. (CIN L 72900MH1995PLC095642) 1st Floor, Times Tower, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013T: +91 22 4090 4242; www.proteantech.in Additional details required to be disclosed pursuant to the SEBI Listing Regulations 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD -PoD-1/P/CIR/2023/123 dated July 13, 2023, are enclosed as Annexure A. This is for your information and records. Thanking you, Yours truly, For Protean eGov Technologies Limited Maulesh Kantharia Company Secretary & Compliance Officer FCS 9637 Encl.: As above protean
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Protean eGov Technologies Ltd. (CIN L 72900MH1995PLC095642) 1st Floor, Times Tower, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013T: +91 22 4090 4242; www.proteantech.in Annexure A Details required under SEBI Circular SEBI/HO/CFD/CFD -PoD-1/P/CIR/2023/123 dated July 13, 2023 Sr. No. Particulars Details (Point no. ii) 1. Reason for change viz. appointment, re -appointment, resignation, removal, death or otherwise Completion of term of Ms. Preeti Mehta (DIN: 00727923) Independent Directorship with effect from the close of business hours on February 14, 2026 2. Date of appointment/ re - appointment/ cessation (as applicable) & term of appointment/ re-appointment February 14, 2026 (EOD) 3. Brief profile (in case of appointment) NA 4. Disclosure of relationships between directors (in case of appointment of a director) NA protean
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B S R & Associates LL P 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Chartered Accountants Western Express Highway Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Limited Review Report on unaudited standalone financial results of Protean eGov Technologies Limited for the quarter ended 31 December 2025 and year to date results for the period from 1 April 2025 to 31 December 2025 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Protean eGov Technologies Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Protean eGov Technologies Limited (hereinafter referred to as "the Company") for the quarter ended 31 December 2025 and year to date results for the period from 1 April 2025 to 31 December 2025 ("the Statement"). 2. This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles / generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that iv B S R & Associates (a partnersh1p firm 'Nlth Registration No BA69226) converted into B S R & A,3ocu11le3 LLr (n limited Lidbility Parlner~hip with LL? Regi~trctlion No AAS-81&2) 'Nith 1:1ff1:1t..1 from October 14 2013 Registered Office 14th Floor, Central 8 \Mna and N orth C IA/ing Nesc.o IT Pariit 4 N,tseo Center, Western Express H1gnway, Goregaon (East), Mumbai - 400063 Page 1 of 2
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B S R & Associates LLP contains any material misstatement. Mumbai 11 February 2026 Limited Review Report (Continued) Protean eGov Technologies Limited For B S R & Associates LLP Accountants Firm's Registration bir Readymadewala Partner Membership No.: 100060 UDIN:26100060ARAFYL2536 Page 2 of 2
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protean Protean eGov Technologies Limited Statement of Unaudited Standalone Financial Results for the quarter and nine months ended 3 1 December 2025 Currency:( ~ in Crore) Parliculars Q uarte r ended Ni ne Months ended 31.03.2025 31.12.2025 30.09.2025 31.12.2024 31.12 .2025 31.12.2024 Aud ited l'na udiled l 'naudited Unaudited Unaud ited Unaudited Income Revenue from operations 228.40 249.50 202.00 687.88 617.65 839 53 Other income 14 50 14.68 16.35 57.79 51.35 68 44 Tolal Income 242.90 264.18 218.35 745.67 669.00 907.97 Expenses Processing charges 78 04 81.50 86.19 235.57 254.05 335.63 Employee benefits expense 54.70 57.53 49.51 167.88 136.81 186.25 System implementation, support and mamtenance 38.08 55.74 26.22 131.93 84.76 122.11 Finance costs 1.57 1.51 0.26 4.60 1.25 2.34 Dcprec1at1on and amon11.at1on expense 1107 10.17 5.81 32.08 19.72 27.69 Allowance for expected credit loss 0.65 0.04 0.65 11.10 (9 66) Other expenses 26.78 22.45 23.80 70.65 67.02 123.43 Total E,pe nscs 210.24 229.55 191.83 643.36 574.71 787.79 Profit before exceptional items and tax 32.66 34.63 26.52 102.31 94.29 120.18 Exceptional items Statutory impact of nc" labour codes 3.95 - - 3.95 - - Profit before tax 28.71 34.63 26.52 98.36 94.29 120.18 Less : Tax expense Current 1ax 7.78 9.32 9.59 26.51 23.66 17.74 Deferred tax (0. 73) (0.89) (4.00) (2.51) (2.53) 8.23 Total tax expense 7.05 8.43 5.59 24.00 21.13 25.97 Profit for the year (A) 21.66 26.20 20.93 74.36 73. 16 94.2 1 Other comprchcnsh ·c income / (lo~s) Items that will 11ot be reclassified s11bseq11e11tly to profit or loss Re-measurement of the defined benefit (liab1hty) / asset - 0.01 2.37 (1.85) Tax on above - (0.59) 0.47 Other comprchenshe income /(loss) (B) - - - 0.01 1.78 (1.38) Total comprehen sive inco me (A+ B) 21.66 26.20 20.93 74.37 74.94 92.83 Paid up Equity share capita l (face va lue off 10 each) 40.62 40.61 40.55 40.62 40.55 40.55 Other equ ity 96407 Earnings per share Not annualised Not annualised Not annualised Not annuali sed Not annualised Annualised , - Basic(~) 5.34 6.46 5. 17 18.33 18.07 23.26 - Dilu1ed (~ ) 5.31 6.42 5. 12 18.23 17.89 23.07 ~ / - Protean eGov Technologies Ltd. (CIN L72900MH199SPLC095642) T: +91 22 4090 4242 www.proteantech.in
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Notes: 1. The above unaudited standalone financial results of Protean eGov Technologies Limited ("the Company") have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim financial reporting" (Ind AS 34) prescribed under Section 133 of the Companies Act, 20 I 3 (the ' Act') read with the relevant rules thereunder and in tenns of Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 2. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 11 February 2026. 3. The statutory auditors of the Company have issued an unqualified limited review report on the unaudited standalone financial results for the quarter and nine months ended 31 December 2025. 4. The Company is mainly engaged in the business of providing IT services. The Company offers citizen services, e-governance solutions, system integration, business process re-engineering, data center co-location and IT consulting services for citizens, corporates and the Government. All these activities comprise of a single business segment. Currently, these activities are conducted only in one geographic segment viz, India. Therefore, the disclosure requirements oflnd AS 108 "Operating Segments " are not applicable. 5. Other income for the nine months ended 31 December 2025 includes write back of provisions pertaining to employee benefits aggregating tot 5.76 Crore. 6. During the quarter and nine months ended 31 December 2025, the Company has granted 2,101 and 1,63,976 new stock options respectively to the eligible employees under the Protean eGov Technologies Limited Employee Stock Option Plan-2017. Further during the quarter and nine months ended 31 December 2025, the Company has allotted 8,038 and 68,492 equity shares respectively upon exercise of stock options granted under the Protean eGov Technologies Limited Employee Stock Option Plan-2017. 7. On November 2 I, 2025 , the Government of India has notified four new Labour codes , subsuming 29 existing labour legislations. The Ministry of Labour & Employment has published draft Central Rules and FAQs on December 30, 2025, to facilitate assessment of the financial impact arising from these regulatory changes. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Company has presented such incremental impact as "Statutory impact of new Labour Codes" under "Exceptional Items" in the Statement of Unaudited Financial Results for the quarter and nine months ended 31 December 2025. The incremental impact consisting of gratuity oft 3.77 Crore and compensated absences oft 0.18 Crore primarily arises due to change in wage definition. The Company continues to monitor developments relating to the implementation of the New Labour Codes and will review its estimates on ongoing basiso/'
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8. System implementation, support and mainten~ce include cost of equipment and software licenses incurred for delivering project service W Place: Mumbai Date: 11 February 2026 For and on behalf of the Board of Directors of Protean eGov Technologies Limited ~ :ti:;;1995PLC095642) ~uresh Sethi Managing Director and CEO DIN-06426040
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B S R & Associates L LP 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Chartered Accountants Western Express Highway Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Limited Review Report on unaudited consolidated financial results of Protean eGov Technologies Limited for the quarter ended 31 December 2025 and year to date results for the period from 1 April 2025 to 31 December 2025 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Protean eGov Technologies Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Protean eGov Technologies Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 31 December 2025 and year to date results for the period from 1 April 2025 to 31 December 2025 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure I to the Statement 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The Statement includes the interim financial results of four subsidiaries which have not been reviewed, whose interim financial results reflect Company's share of total revenues before consolidation adjustment of Rs. 3.17 crores and Rs. 5.17 crores, Company's share of total net profit / (loss) after tax before consolidation adjustment of Rs. 0.82 crores and Rs. (4.17) crores and Company's share of total comprehensive income before consolidation adjustment of Rs. 0.82 crores and Rs. (4.17) crores, for the quarter ended 31 December 2025 and for the period from 1 April 2025 to 31 December 2025-respectively, as considered in the Statement. According to the information and explanations give9 {o us by the Parent's management, these interim financial results are not material to the Group~ 8 SR & Associates (a partnership firm With Reo1strahon No BA69226) converted into B S R & Anvl..+dle!io LLP (d li11ilt1J LidLilily Pd1lmm,hiµ with LL? R~ybln:1liuu Nu AAB-& 1&2) with effect from October 14 2013 Registered Office 14th Fk>or. Central B Wno and North C \Nino NHco IT Park 4. Nasco Center, Western Express Hlgnway, Goregacn (East}, Mumoa1- 4000b.3 Page 1 of 3
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B S R & Associates LLP Our conclusion is not modified in respect of this matter. Mumbai 11 February 2026 Limited Review Report (Continued) Protean eGov Technologies Limited For B S R & Associates LLP Chart~fd Accountants / Firm's Registratio .:11 31W/W-100024 bir Readymadewala Partner Membership No.: 100060 UDIN:26100060DRYTLF4463 Page 2 of 3
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B S R & Associates LLP Limited Review Report (Continued) Protean eGov Technologies Limited Annexure I List of entities included in unaudited consolidated financial results. Sr. No Name of component Relationship 1 Protean eGov Technologies Limited Parent company 2 Protean International DMCC Wholly owned subsidiary 3 Protean eGov Technologies Australia Pty Ltd Wholly owned subsidiary 4 Protean Account Aggregator Limited Wholly owned subsidiary 5 Protean lnfosec Services Limited Wholly owned subsidia~ Page 3 of 3
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protean Protean eGov Technologie s Limited Statemen t of Unaudited Conso lidated Fina ncial Results for the quarter and nine months ended 31 December 2025 Income Revenue from operations Other income Total Income F:xpenses Particu lars Processing charges Employee benefits expense System implemcnrnuon, support and maintenance Finance costs Dcprcc1ation and amort11..at1011 expense Allowance for expected credit loss Other expenses Total Expenses Profit before exceptional items and tax Exceptional items Statutory impact of nc" labour codes Profit before tax Less Tax expense Current ta.x Deferred tax Total ta:\ expense Profit for tht year (A) Other comprehensi, e income / (loss) Items tliat will not he rcdC1.,.,·ijied subsequently to profit or lnss Rc•mcasurcmcnt of the defined benefit (liab1l1ty) asset Tax on abo,e Othtr com1,rehen sive income /(loss) (B) Total com11rehenshe income (A+B) Profit for the period attributable to : Owners of the Parent Company Xon•Controlling interest Other comprehensi'\e income for the period attributable to : Owners of the Parent Company Non·Controlling interest Total comprehensi\e income for the period attributable to: Owners of the Parent Company i\'on•Controlhng mtcn:st Paid up Equity shar e ca1ii1.1I (face value on 10 each ) Other equity Earning s per share • Basic (t ) • Diluted (t ) Protean eGov Technologies Ltd. 31.12.202S Unaudi1ed 228.87 14 42 H3.29 783 8 55.99 35.45 1.57 11.27 27 26 209.92 33.37 3.95 29.42 7.78 (0.86) 6.92 22.50 22.50 22.50 22.50 22 50 22.50 40.62 ~ot annualised 5.55 5.52 (CIN L72900MH199SPLC095642) T: +91 22 4090 4242 Quarte r ended 30.o9.202S l 'naudited 250.50 14.60 265.10 82.00 60 09 55.74 1.51 10.38 0.65 22.69 233.06 32.04 32.04 9.32 ( 1.14) 8.18 23.86 23.86 23.86 23.86 23.86 23.86 40.61 l"\ot annualised 5.88 5.85 31.12.2024 lJnaudi1ed 202.3 1 18.8 1 221.12 86.76 50 11 25.74 0.26 5.8 1 0.04 23.88 192.60 28.52 28.52 9.59 (4.00) S.S9 22.93 22.93 22.93 22.93 22.93 22.93 40. 55 Not annualrsed 5.66 5.6 1 Currency· (t in Crore) Nine Months ended 31.12.20 25 Unaudited 690.21 57.54 747.75 236.84 174.11 129.30 4 60 32.69 0.65 71.78 649.97 97.78 3.95 93.83 26.5 1 (2.89) 23.62 70.2 1 0.0 1 0.01 70.22 70.2 1 70.21 0.0 1 0.0 1 70.22 70.22 40.62 Not annualised 1730 17.2 1 31.12.2024 Unaudited 618 55 5 1.64 670.19 254.89 138.53 84.28 125 19.72 11.10 67.23 577.00 93.19 93.19 23.66 (2.53) 21.13 72.06 2.37 (0.59) 1.78 73.84 72.06 72.06 1.78 1.78 73.84 31.03.2025 Audited 840.70 68.18 908.88 336 60 188 57 120 64 2 34 27 82 (9.66) 124.1 4 790.45 118.43 118.43 17.74 8.23 25.97 92.46 (1.85) 0.47 (1.38) 91.08 92.46 92.46 ( 1.38) (1.38) 91.08 73.84 _ - ~ 1.08 N ~i•~d '"'°' ' Annualjsild I i°¼r I Wing 10,.. n,83 1 £? I , ;:)• ~o Center nl6.s I www.proteante ch.1n ,
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Notes: I . The unaudited consolidated financial results of the Parent Company and its subsidiaries (collectively referred to as "the Group ") includes the following: Name of the entity Relationship Protean eGov Technologies Limited Parent company NSDL e-Governance (Malaysia) SDN BHD * Subsid iary Protean eGov Technologies Australia Pty Ltd Wholly owned subsidiary Protean Account Aggregator Limited Wholly owned subsidiary Protean Tnfosec Services Limited Wholly owned subsidiary Protean International DMCC Wholly owned subsidiary * Dissolved on 16.12.2024 2. The above unaudited con solidated financial results of the Group have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 " Interim financial reporting" (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013 (the ' Act ') read with the relevant rules thereunder and in terms of Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations , 2015. 3. The above results have been reviewed by the Audit Committee and approved by the Board of Direct ors at their meeting held on 11 February 2026. 4. The statutory auditors of the Parent Company have issued an unqualified limited review report on the unaudited consolidated financial results for the quarter and nine months ended 31 December 2025 . 5. Financial results of Protean eGov Technologies Limited (Standalone information): (t in Crore , unless otherwise stated) Particular s Qua11er Quarter Quarter Nine Nine Year ended 31 ended 30 ended 31 months months ended 31 December September December ended 31 ended 31 March 2025 2025 2024 December December 2025 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Total 242.90 264.18 218.35 745.67 669.00 907.97 income* Profit before 28.71 34.63 26.52 98.36 94.29 120.18 tax for the period /year Profit after 21.66 26.20 20.93 74.36 73.1 6 94.21 tax for the period /year * includes Revenue from operations and other income ,,
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one geographic segment viz, India. Therefore, the disclosure requirements oflnd AS I 08 "Operating Segments " are not applicable. 7. Other income for the nine months ended 31 December 2025 includes write back of provisions pertaining to employee benefits aggregating to~ 5.76 Crore. 8. During the quarter and nine months ended 31 December 2025, the Group has granted 2,101 and 1,63,976 new stock options respectively to the eligible employees under the Protean eGov Technologies Limited Employee Stock Option Plan-2017. Further during the quarter and nine months ended 31 December 2025 , the Group has allotted 8,038 and 68,492 equity shares respectively upon exercise of stock options granted under the Protean eGov Technologies Limited Employee Stock Option Plan-2017. 9. On November 21, 2025, the Government of India has notified four new Labour codes, subsuming 29 existing labour legislations. The Ministry of Labour & Employment has published draft Central Rules and FAQs on December 30, 2025, to facilitate assessment of the financial impact arising from these regulatory changes. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Group has presented such incremental impact as "Sta tutory impact of new Labour Codes" under "Exceptio nal Items" in the Statement of Unaudited Consolidated Financial Results for the quarter and nine months ended 31 December 2025. The incremental impact consisting of gratuity of~ 3.77 Crore and compensated absences of~ 0.18 Crore primarily arises due to change in wage definition. The Group continues to monitor developments relating to the implementation of the New Labour Codes and will review its estimates on ongoing basis . .. IO.System implementation , support and maintenance include cost of equipment and software licenses incurred for delivering project service~ Place: Mumbai Date: 11 February 2026 For and on behalf of the Board of Directors of Protean eGov Technologies Limited (CIN: L 72900MH1995PLC095642) ~i~~ Suresh Sethi Managing Director and CEO D IN-064 26040