Earnings Call Transcript - Q1FY27

protean Ref: Protean/Secretarial/2026-27/31 August 7, 2026 BSE Limited (“BSE”) National Stock Exchange of India Limited P.J. Towers, Dalal Street, Exchange Plaza, C-1, Block G, Fort, Mumbai – 400001 Bandra Kurla Complex, Bandra (E), Mumbai – 400051, India Scrip Code: 544021 Trading symbol: PROTEAN Dear Sir/Madam, Subject: Transcript - Earnings Conference Call on Company’s Operational and Financial Performance for Q1FY27 Pursuant to Regulation 30 read with Schedule III and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in continuation to our letter dated July 28, 2026, please find enclosed herewith Transcript of Earnings Conference Call on Company’s Operational and Financial Performance for Q1FY27, held on Tuesday, August 4, 2026. 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 eGov Technologies Limited 1st Floor, Times Tower, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013 CIN: L72900MH1995PLC095642 | T: +91 22 4090 4242 | E: cs@proteantech.in | W: www.proteantech.in . protean “Protean eGov Technologies Limited Q1FY27 Earnings Conference Call” August 04, 2026 . protean MANAGEMENT: MR. AJAY RAJAN – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. V. EASWARAN – WHOLE TIME DIRECTOR AND CHIEF OPERATING OFFICER MR. RAKESH DOSI – CHIEF BUSINESS OFFICER MR. SANDEEP MANTRI – CHIEF FINANCIAL OFFICER MS. PUSHPA MANI – HEAD, INVESTOR RELATIONS Page 1 of 17 ,protean Protean eGov Technologies Limited August 04, 2026 Moderator: Good day, and welcome to Protean eGov Technologies Q1FY27 Earnings Conference Call hosted by Go India Advisors. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Pushpa Mani, Head, Investor Relations, Protean eGov Technologies. Thank you, and over to you, ma'am. Pushpa Mani: Thanks, Sanya. Good evening, everyone. I welcome you all to the Q1FY27 results discussion. You must have received the results, press release and the investor presentation of the company, which is available on BSE, NSE and as well as on the company's website. As usual, we will start the forum with the opening remarks by our MD and CEO, followed by CFO and then we will open the floor for the question-and-answer session. If any of your questions remain unanswered, you may reach out to us afterwards. The management on today's call would be represented by Mr. Ajay Rajan, Managing Director and CEO; Mr. V. Easwaran, Whole-Time Director and COO; Mr. Rakesh Dosi, Chief Business and Products Officer; Mr. Sandeep Mantri, Chief Financial Officer; and myself, Head, Investor Relations. Before we begin, I would like to mention that some of the statements in today's discussion may be forward-looking in nature, and we believe that the expectations contained in these statements are reasonable. However, these statements involve a number of risks and uncertainties that may lead to different results. With this, I invite our Managing Director, Mr. Ajay Rajan. Thank you, and over to you, sir. Ajay Rajan: Thank you, Pushpa. Good evening, everyone, and thank you for joining us for our Q1FY27 earnings call. Within two months into the organization, it's a privilege for me to be here in the first interaction with you as the MD and CEO of Protean. For those who don't know me, I have spent over 3 decades in banking between 21-plus years with Deutsche Bank, a large global bank and close to 9 years in YES Bank, one of India's most digital savvy bank. Most of my experience has been spent building and scaling businesses. At one point, as you're all aware, rebuilding one. I have been part of the management team that helped ride YES Bank through the 2020 crisis, rebuilding the franchise and most importantly, rebuilding the trust with customers, regulators and investors. That experience taught me 2 things that are directly relevant to the role I took over at Protean. First, that institutions are ultimately valued for the trust they hold; and second, that innovative mindset with the right product solutioning, disciplined execution, sharp capital allocation and relentless focus on profitability is what helps build a strong franchise. Few organizations have had the privilege of contributing to platforms that touch the lives of millions of citizens while simultaneously supporting economic growth and institutional transformation. Page 2 of 17 ,protean Protean eGov Technologies Limited August 04, 2026 For over 3 decades, Protean has been that quiet custodian of India's digital trust, having built digital public infrastructure at population scale for the country and now taken steps towards globalizing these capabilities in line with India's vision of becoming a global exporter of DPI. To put some tangibility in this statement, let me share some numbers. Protean has issued more than 58 crore PAN cards till date, opened more than 9 crore pension accounts across NPS and Atal Pension Yojana, completed over 1,500 crore online PAN validations, 250 crore e-KYC transactions, 400 crore Aadhaar authentications and 70 crore eSigns till date. This proves that the real infrastructure is not always the servers or the APIs. It is the trust earned transaction by transaction, and that trust is Protean's moat, which we have earned over 30 years. Coming to the agenda of this call, I would like to use this opportunity to not only share the Q1 financial update, but given that it's my first investor call, I'm sure all of you would like to hear from me about the future we intend to create. Protean possesses something truly special, talented and a committed team with deep institutional knowledge and a legacy of building innovative population scale DPI over 3 decades. At the same time, I also see that the organization at an important inflection point. The opportunities before us are immense, but so are the expectations of our customers, regulators, shareholders and the ecosystem partners. So the next phase of our journey will require us to combine our legacy strengths with newer ideas, sharper and more agile execution, stakeholder centricity and a focus on outcomes. So, let me start with sharing with you some immediate strategic priorities that I have set for myself. First is deepening the core franchise with sharpened execution. We are continuously reviewing our portfolio and will allocate capital and bandwidth towards businesses where returns are the strongest. Our focus will be on high-margin businesses and product profitability by building adjacencies around our core strength, which is the DPI. Second, we are closely relooking at our cost structures and using AI to drive efficiency across the organization while also embedding AI into making our product solutioning more intelligent and intuitive. Third, we are sharpening our approach towards international expansion in a very focused partnership-led model in a defined set of geographies with sharply identified solutions. In order to do all this, we will also pursue inorganic growth opportunities that create long-term strategic value, strengthen our capabilities and contribute meaningfully to our top line, but more importantly, our bottom line. The earlier chapter of India's DPI story was about building the foundational rails. We saw solutions around identity, payments, data. And as you're aware, Protean helped built several of them. The country is now entering into its second chapter, which is all about value-added sectoral services and AI-driven intelligence that ride on these rails. And I'm putting deliberately t [Showing first 8,000 characters — download PDF for full document]