Stock Price Movement and Market Context
On 2 Feb 2026, Protean eGov Technologies Ltd’s share price touched Rs.598, representing the lowest level in the past year and since its listing. This new low comes after a three-day consecutive decline, during which the stock lost 2.89% in value. The stock underperformed its sector by 0.36% on the day, reflecting broader challenges within the Computers - Software & Consulting industry.
The stock is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating sustained downward momentum. This contrasts with the broader market, where the Sensex recovered sharply after a negative opening, closing 0.35% higher at 81,006.97 points. Despite the Sensex’s gains, led by mega-cap stocks, Protean eGov’s performance remains subdued.
Long-Term Performance and Valuation Metrics
Over the past year, Protean eGov Technologies Ltd has delivered a negative return of 59.17%, significantly underperforming the Sensex, which gained 4.46% during the same period. The stock’s 52-week high was Rs.1,563, highlighting the extent of the decline. This underperformance extends beyond the last year, with the company lagging behind the BSE500 index over the last three years, one year, and three months.
Financially, the company’s operating profit has contracted at an annualised rate of 38.82% over the past five years, reflecting challenges in sustaining growth. The return on capital employed (ROCE) for the half-year ended September 2025 stood at a low 11.30%, while non-operating income accounted for 45.57% of profit before tax in the most recent quarter, suggesting limited contribution from core business activities.
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Financial Strength and Capital Structure
Protean eGov maintains a low average debt-to-equity ratio of zero, indicating a debt-free capital structure. The company’s return on equity (ROE) is 8.9%, which, combined with a price-to-book value of 2.4, suggests a fair valuation relative to its book value. Despite the recent price decline, the stock trades at a discount compared to the average historical valuations of its peers in the Computers - Software & Consulting sector.
Profitability has shown some improvement, with profits rising by 8.8% over the past year. However, the price-to-earnings-to-growth (PEG) ratio stands at 3.2, indicating that the stock’s price decline has outpaced earnings growth, which may reflect market concerns about the company’s longer-term prospects.
Institutional Holdings and Market Sentiment
Institutional investors hold a significant stake in Protean eGov Technologies Ltd, with 28.99% of shares owned by these entities. This level of institutional ownership suggests that investors with greater analytical resources continue to maintain positions in the stock despite recent price weakness.
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Summary of Key Metrics
Protean eGov Technologies Ltd’s current Mojo Score is 40.0, with a Mojo Grade of Sell, downgraded from Hold on 29 Sep 2025. The company’s market capitalisation grade is 3, reflecting its mid-tier market cap status. The stock’s day change on 2 Feb 2026 was -1.11%, continuing a trend of recent declines.
While the broader market has shown resilience, Protean eGov’s share price has been pressured by subdued growth rates, modest returns on capital, and a reliance on non-operating income to bolster profitability. These factors have contributed to the stock’s underperformance relative to both its sector and the wider market indices.
Comparative Industry Performance
Within the Computers - Software & Consulting sector, Protean eGov’s performance contrasts with some peers that have maintained steadier growth trajectories and higher valuations. The stock’s discount to peer valuations may reflect market caution given the company’s recent financial trends and price action.
Conclusion
The new 52-week low of Rs.598 for Protean eGov Technologies Ltd underscores the challenges faced by the company in maintaining investor confidence amid a difficult market environment. The stock’s sustained decline, underperformance relative to benchmarks, and financial metrics highlight the pressures weighing on its valuation and market standing as of early February 2026.
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