Protean eGov Technologies logo

Protean eGov Technologies CEO, MD, chairman, board of directors and AGM

NSE: PROTEANBSE: 544021IT - ServicesSmall Cap

Last close ₹589.55down ₹14.00 (2.32%)BSE ₹589.35

Share price at the NSE close on 23 Oct 2026. Previous close ₹603.55.

52-week range of traded prices to 23 Oct 2026
₹444.00Low, 30 Mar 2026₹885.00High, 23 Oct 2025
Market cap
₹2,404 Cr1,087th largest listed
P/E
29.1
P/B
2.2
Dividend yield
1.70%
ROE
8.0%
ROCE
5.4%
Debt to equity
0.00
Volume, NSE
2,88,66433.8% delivered

Protean eGov Technologies board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.

  • ChairpersonShailesh Haribhakti
  • Managing director and CEOAjay Rajan
  • Company Secretary and Compliance OfficerMaulesh Kantharia

8 directors5 independent2 executive1 non-executive

  • Shailesh Haribhakti · ChairpersonNon-executive · joined May 2012 · reappointed Sep 2025 · 5 listed boards · 4 as independent · 10 committee seats, 5 as chair
  • Abhaya Prasad HotaIndependent · joined Sep 2019 · reappointed Sep 2022 · 81 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Shailesh KekreIndependent · joined May 2022 · reappointed May 2025 · 49 months as independent · 3 listed boards · 3 as independent · 3 committee seats
  • Lloyd MathiasIndependent · joined Jun 2022 · reappointed Jun 2025 · 48 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • Aruna RaoIndependent · joined Mar 2023 · reappointed Mar 2026 · 39 months as independent · 1 listed board · 1 as independent · 5 committee seats
  • Nandkumar SaravadeIndependent · joined Jun 2026 · reappointed Jun 2026 · 1 month as independent · 2 listed boards · 2 as independent
  • V EaswaranExecutive · joined Dec 2025 · 6 months as independent · 1 listed board · 1 committee seat
  • Ajay Rajan · Managing director and CEOExecutive · joined Jun 2026 · 1 month as independent · 1 listed board

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

4 directors who left
  • Suresh Sethi, left 1 Apr 2026: Others
  • Preeti Mehta, left 15 Feb 2026: Tenure Completion
  • Jayesh Sule, left 1 Aug 2025: Others
  • Mr. Sriram Krishnan, left 25 Nov 2024: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 20 May 20266 of 6 present4 independent · 97 days in between
    • 11 Feb 20268 of 8 present5 independent

  • Audit Committee

    Chair Abhaya Prasad Hota

    Lloyd Mathias, Aruna Rao

    • 25 Jun 20263 of 3 present3 independent · 35 days in between
    • 20 May 20263 of 3 present3 independent · 40 days in between
    • 9 Apr 20263 of 3 present3 independent · 16 days in between
    • 23 Mar 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair Lloyd Mathias

    Shailesh Kekre, Aruna Rao, Shailesh Haribhakti

    • 20 May 20264 of 4 present3 independent · 54 days in between
    • 26 Mar 20263 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Lloyd Mathias

    Shailesh Kekre, V Easwaran

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Shailesh Haribhakti

    Abhaya Prasad Hota, Shailesh Kekre

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Shailesh Haribhakti

    Aruna Rao, V Easwaran

    • 20 May 20263 of 3 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Jun 2026.

  • B S R & Associates LLPPeer-review certificate valid to Jul 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Protean eGov Technologies AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Protean eGov Technologies dividend history

Annual general meeting, 22 Sep 2026

2,16,403 shareholders on the register on 15 Sep 2026; present: 0 promoters and 68 others; votes counted by Malati Kumar / S. N. ANANTHASUBRAMANIAN & CO..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt a) the audited standalone financial statements of the Company for the financial year ended March 31, 2026, together with the reports of the Board of Directors' and Auditors' thereon and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2026, together with the reports of the Auditors' thereonMoreLess
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.31%

    Turnout: all 13.11% · promoters 0.00% · institutions 50.42% · other public 0.38%

  2. To declare a dividend of Rs. 10 per equity share on face value of Rs. 10 each (100 percent), of the Company for the financial year ended March 31, 2026
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.38%

    Turnout: all 13.11% · promoters 0.00% · institutions 50.42% · other public 0.38%

  3. To appoint a Director in place of Mr. Shailesh Haribhakti (DIN: 00007347) who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.30%

    Turnout: all 13.11% · promoters 0.00% · institutions 50.42% · other public 0.37%

  4. Appointment of Ms. T R Chadha and Co LLP, Chartered Accountants (Firm Registration No. 006711N - N500028) as the Statutory Auditors of the Company
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.51%

    Turnout: all 12.87% · promoters 0.00% · institutions 49.45% · other public 0.37%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 15 Aug 2026, 3 resolutions

2,20,597 shareholders on the register on 10 Jul 2026; votes counted by Mr. S. N. Viswanathan / S. N. ANANTHASUBRAMANIAN & CO..The company's voting result (opens in a new tab)

  1. Appointment of Mr. Ajay Rajan (DIN: 09756949) as a Director of the Company w.e.f. June 1, 2026.
    Ordinary
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.60%

    Turnout: all 16.94% · promoters 0.00% · institutions 61.71% · other public 0.87%

  2. To appoint Mr. Ajay Rajan (DIN: 09756949) as the Managing Director & Chief Executive Officer (“MD & CEO”) of the Company with effect from June 1, 2026 for a term of 3 years and approval of minimum managerial remuneration.MoreLess
    Special
    99.28% for0.72% against

    Against: promoters 0.00% · institutions 0.55% · other public 5.09%

    Turnout: all 16.94% · promoters 0.00% · institutions 61.71% · other public 0.87%

  3. Appointment of Mr. Nandkumar Saravade (DIN: 07601861) as a Non-Executive Independent Director for a first term of 3 years w.e.f. June 1, 2026 of the Company
    Special
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.28%

    Turnout: all 16.94% · promoters 0.00% · institutions 61.71% · other public 0.87%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 7 Mar 2026, 2 resolutions

2,30,399 shareholders on the register on 30 Jan 2026; votes counted by Mr. S. N. Viswanathan / S. N. ANANTHASUBRAMANIAN & CO..The company's voting result (opens in a new tab)

  1. Appointment of Ms. Aruna Rao (DIN: 06986715) as an Independent Director of the Company for second term of three (3) years
    Special
    87.45% for12.55% against

    Against: promoters 0.00% · institutions 12.82% · other public 3.56%

    Turnout: all 17.85% · promoters 0.00% · institutions 60.38% · other public 0.71%

  2. Appointment of Mr. V Easwaran (DIN: 08055728) as a Director and a Whole-time Director of the Company
    Ordinary
    87.74% for12.26% against

    Against: promoters 0.00% · institutions 12.55% · other public 2.27%

    Turnout: all 18.22% · promoters 0.00% · institutions 61.67% · other public 0.71%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 6 Feb 2026, 2 resolutions

2,30,399 shareholders on the register on 30 Jan 2026; votes counted by Mr. S. N. Viswanathan / S. N. ANANTHASUBRAMANIAN & CO..The company's voting result (opens in a new tab)

  1. Appointment of Ms. Aruna Rao (DIN: 06986715) as an Independent Director of the Company for second term of three (3) years
    Special
    87.45% for12.55% against

    Against: promoters 0.00% · institutions 12.82% · other public 3.56%

    Turnout: all 17.85% · promoters 0.00% · institutions 60.38% · other public 0.71%

  2. Appointment of Mr. V Easwaran (DIN: 08055728) as a Director and a Whole-time Director of the Company
    Ordinary
    87.74% for12.26% against

    Against: promoters 0.00% · institutions 12.55% · other public 2.27%

    Turnout: all 18.22% · promoters 0.00% · institutions 61.67% · other public 0.71%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 18 Sep 2025, 4 resolutions

2,47,224 shareholders on the register on 11 Sep 2025; present: 0 promoters and 58 others; votes counted by Mr. S. N. Viswanathan / S. N. ANANTHASUBRAMANIAN & CO..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereon and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.16%

    Turnout: all 18.15% · promoters 0.00% · institutions 59.08% · other public 1.19%

  2. To declare a dividend of Rs. 10/- per equity share on face value of Rs. 10/- each (@ 100%), of the Company for the financial year ended 31st March, 2025
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 18.15% · promoters 0.00% · institutions 59.08% · other public 1.19%

  3. To appoint a Director in place of Mr. Shailesh Haribhakti (DIN: 00007347) who retires by rotation and being eligible, offers himself for reappointment
    Ordinary
    99.21% for0.79% against

    Against: promoters 0.00% · institutions 0.75% · other public 1.63%

    Turnout: all 18.15% · promoters 0.00% · institutions 59.08% · other public 1.19%

  4. To appoint M/s S. N. Ananthasubramanian & Co. Practicing Company Secretaries as Secretarial Auditors and fix their remuneration
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.71%

    Turnout: all 18.15% · promoters 0.00% · institutions 59.08% · other public 1.19%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 7 Mar 2026, 1 fund house

  • Appointment of Ms. Aruna Rao (DIN: 06986715) as an Independent Director of the Company for second term of three (3) years
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundGovernance Concern: As per the disclosures provided by the Company in the Notice, proposed appointee holds directorship in Group Company in her NED capacity.
    0 for1 against
  • Appointment of Mr. V Easwaran (DIN: 08055728) as a Director and a Whole-time Director of the Company
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundLack of Clarity: We do not support this resolution as the company has failed to disclose the quantum of ESOPs, performance criteria for short and long-term incentives, and an absolute cap on total remuneration, making it impossible to reasonably estimate the overall pay package
    0 for1 against

Mutual fund votes, meeting of 18 Sep 2025, 1 fund house

  • To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereon and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereonMoreLess
    1 for0 against
  • To declare a dividend of Rs. 10/- per equity share on face value of Rs. 10/- each (@ 100%), of the Company for the financial year ended 31st March, 2025
    1 for0 against
  • To appoint a Director in place of Mr. Shailesh Haribhakti (DIN: 00007347) who retires by rotation and being eligible, offers himself for reappointment
    1 for0 against
  • To appoint M/s S. N. Ananthasubramanian & Co. Practicing Company Secretaries as Secretarial Auditors and fix their remuneration
    1 for0 against
2 earlier meetings

Mutual fund votes, meeting of 23 Sep 2024, 6 fund houses

  • To appoint a Director in place of Mr. Shailesh Haribhakti (DIN: 00007347) who retires by rotation and being eligible, offers himself for re-appointment.
    Against LIC Mutual Fund
    • LIC Mutual FundNo concern on the profile and merit. Governance Concern: No cooling-off period served at the time of original appointment as NEDNID post completion of two terms as an ID.
    5 for1 against
  • To appoint Mr. Sriram Krishnan (DIN: 07816879) as a Non - Executive Non - Independent Director of the Company from August, 05 2024 and whose office shall be liable to retire by rotation.
    6 for0 against
  • To declare a dividend of Rs. 10/- per equity share on face value of Rs. 10/- each (@ 100%), of the Company for the financial year ended March 31, 2024.
    6 for0 against
  • To re-appoint Mr. Lloyd Mathias (DIN: 02879668) as an Independent Director (Non - Executive) of the Company to hold office for second term of five (5) consecutive years from June 28, 2025 to June 27, 2030 (both days inclusive) and whose office shall not be liable to retire by rotation.MoreLess
    6 for0 against
  • To re-appoint Mr. Shailesh Kekre (DIN: 07679583) as an Independent Director (Non - Executive) of the Company to hold office for second term of five (5) consecutive years from May 31, 2025 to May 30, 2030 (both days inclusive) and whose office shall not be liable to retire by rotation.MoreLess
    6 for0 against
  • To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2024, together with the reports of the Board of Directors’ and Auditors’ thereon, and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2024, together with the reports of the Auditors’ thereon.MoreLess
    6 for0 against

Mutual fund votes, meeting of 17 Feb 2024, 2 fund houses

  • Ratification of the extension of Protean eGov Technologies Limited - Employee Stock Option Plan, 2017 to the employees of subsidiary companies / associate companies (present or future).
    2 for0 against
  • Ratification of the Protean eGov Technologies Limited - Employee Stock Option Plan, 2017.
    2 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Tax disputeOffice of the Commissioner of Central Tax, Bengaluru South GST CommissionerateSince 3 Feb 2025
    No further update in this quarter
    At the filing before: Order issued imposing penalty in connection with input tax credit availed under Section 17(5)(d) of CGST Act, 2017 and interest and penalty in connection with supplies made to distinct person in Maharashtra by the Karnataka office for the period July 2017 to March 2021. The Company has filed an Appeal before the Commissioner of Central Excise (Appeals).MoreLess
  • Tax disputeThe Joint Commissioner, Mumbai CentralSince 3 Mar 2025
    The company has filed an appeal before the GST Appellate Tribunal (GSTAT) to contest the said demand on legal and factual grounds on 25.06.2026.
    At the filing before: Order received for the period covering from April 2020 to March 2021 for alleged short payment of Tax and alleged excess availment of Input tax credit. The Company has filed an Appeal before the Commissioner of Central Excise (Appeals)MoreLess
  • Tax disputeMaharashtra Value Added Tax Act, 2002 (“MVAT Act”) read with the Central Sales Tax Act, 1956 (“CST Act”)Since 9 Mar 2026
    The Department has alleged that PAN card services for FY 2015-16 constitute the sale/manufacture of goods. Following a previous remand by the Maharashtra Sales Tax Tribunal (MSTT) on January 24, 2022, the First Appellate Authority (FAA) passed a post-remand order dated March 6, 2026 (received on March 9, 2026), rejecting the Company’s appeal and confirming the original assessment order dated April 5, 2017, involving a financial exposure of approximately Rs. 22.63 crore. Based on legal advice, the Company continues to maintain its position that the activity is a "Service" and not "Goods," classifying the demand as a contingent liability. The Company has challenged the FAA's order by filing a Second Appeal before the Maharashtra Sales Tax Tribunal on 6 May 2026, and the matter is currently listed for hearing on 31 August 2026. The Company believes that it has strong legal and factual grounds to contest the demand and does not expect any material adverse impact on its financial position or ongoing operations.MoreLess
    At the filing before: The Company is engaged in a tax dispute with the Maharashtra Sales Tax Department concerning the taxability of PAN services rendered during the financial year 2015–16 under the Maharashtra Value Added Tax Act, 2002 (“MVAT Act”) read with the Central Sales Tax Act, 1956 (“CST Act”). The dispute relates to demands raised under MVAT and CST on the allegation of manufacture and sale of PAN cards on the premise that PAN Cards are treated as goods by the authority.MoreLess
  • Tax disputeThe Joint Commissioner, Mumbai CentralSince 22 Oct 2024
    The Company has filed an appeal before the GST Appellate Tribunal (GSTAT) to contest the said demand on legal and factual grounds on 29.06.2026.
    At the filing before: Order received for the period covering from April 2018 to March 2019 for alleged 1. Interest on delayed filing of GSTR 3B 2. Ineligible ITC claimed from non-filers of GSTR 1 and GSTR 3B. The Company has filed an Appeal before the Commissioner of Central Excise (Appeals)MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.