Was going through the company. This is a tricky one with no promoter holding (HDFC proved that it need not be a problem).
In any software services / product company, the most important thing I look for (beyond financials) is how employees feel. It tells how good the culture is and how they are able to retain talents.
https://www.glassdoor.co.in/Reviews/Protean-eGov-Technologies-Reviews-E9148915.htm
https://www.ambitionbox.com/reviews/protean-egov-technologies-reviews?page=2
Reading through the employee reviews, it appears that it is almost operating like a government office with no incentives to work, huge politics, lots of holidays and lack of motivation. This bad review is also evident in LinkedIn insights where the median employee tenure is just 2.6 years.
If anyone is attending next earnings call, this question should definitely be asked (will try my best myself).
I feel that this company is enjoying the moat because of it’s monopoly in the area of operation. Lack of founders and lack of competition could make it a slow mover. Need to see what transpires in annual report and coming quarters.
Disc: Tracking
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