Protean eGov Technologies Limited has informed the Exchange regarding Appointment of Mr. Ajay Rajan as Managing Director & CEO of the company w.e.f. Jun 01, 2026.
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Protean eGov Technologies reported strong FY26 results with standalone revenue up 18.4% to Rs. 996.43 crore and PAT rising 1.9% to Rs. 94.32 crore. The Board approved appointment of Mr. Ajay Rajan (51), formerly with YES Bank and Deutsche Bank, as Managing Director & CEO effective June 1, 2026, subject to shareholder approval. The company also appointed Mr. Nandkumar Saravade (64), former CEO of RBI's ReBIT and ex-CEO of Data Security Council of India, as an Independent Director. The Board recommended a 100% final dividend of Rs. 10 per share. Auditors issued unmodified opinions on both standalone and consolidated financials. The company also completed a demerger of its GRC and SOC businesses from subsidiary Protean Infosec during the year.
The appointment of an external CEO with deep fintech and digital banking experience could drive innovation in the e-governance space. The strong financial performance and dividend announcement are positive signals for shareholders.