Ramco Systems FY20 revenue stands at USD 81.03m
Q4 order booking impacted due to COVID-19 Outbreak
Chennai, India – June 19, 2020: Ramco Systems (BSE -532370, NSE – RAMCOSYS); a global enterprise software company focusing on Next Generation Cloud ERP, today announced the results for the fourth quarter and financial year 2019-20.
For the year ended March 31, 2020 (FY: 2019-20), global income of Ramco Systems Limited was USD 82.33m (Rs 578.1cr). The net profit after tax for the year stood at USD 1.45m (Rs.10.2cr). Growth trajectory was impacted in Q4 because of COVID-19 outbreak which led to multiple projects getting delayed or deferred for the future.
For the quarter ended March 31, 2020 (Q4: 2019-20), global consolidated income of Ramco Systems Limited stood at USD 18.97m (Rs 135.5 cr).
Key Highlights:
- 22 ‘Million-Dollar-Plus’ deals signed in FY20
- COVID impact results in significant drop in order booking in Q4
- Revenue from markets outside India stood at 75% in FY20; Asia continues to show promising growth
- Ramco ERP recognized as a LEADER in SoftwareReviews’ Enterprise Resource Planning Data Quadrant – Top 3 Vendors for business value creation, vendor support and ease of customization
- Focus on driving Digital Transformation leads to increase in large opportunities getting added to the pipeline; working with futuristic organizations to reboot their business for a post-Pandemic era
- Ramco Services Resources Planning (SRP) adds one of the world’s second largest Human Resources provider and temporary staffing firm as its client for its Asia operations
- Continuous thrust on multi-country payroll results in organizations embracing the true power of Ramco’s DIGITAL Managed Payroll Services
- Ramco Aviation takes a digital leap with its new product version (v5.8.9) – embeds production-ready Al/ML use cases, complete UI refresh on EXT JS 6.0 platform, builds in module to address ITM business among others
- While the Airline segment globally is under tremendous pressure, the strategy to diversify into sectors like Defense and focus on leveraging technology to bring automation and cost optimization is helping grow this business
- Launch of RamcoGEEK – Pandemic Control System to help organizations leverage technology to enable safe entry, pre-screening, safe distancing, real-time location sensing, contact tracing and more for employees and visitors
Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “The world today is battling a major global health pandemic that is having a significant impact on people, businesses and the economy. There has been a strong sense of disruption in work and social lives. However, this disruption is driving forward-looking companies to scale their initiatives and drive transformation in business operations. We (Ramco) are happy to be aiding organizations move into the future where digital is the center to every interaction, and further up their adoption curve.”
Virender Aggarwal, CEO, Ramco Systems, said, “Traditionally, Q4 has always been a good quarter for us. We were cruising towards a great finish but circumstances due to the pandemic outbreak delayed multiple projects. We are taking multiple steps to mitigate the impact by offering OpEx model of payment terms. We have also been able to optimize our spends and have a positive cash flow and are seizing this opportunity to learn and adapt to the new normal.”
“The pandemic has also given an opportunity for businesses to transform and rethink business priorities of the future. Emerging technologies like Artificial Intelligence and Machine Learning are helping the world come up with smarter ways to deal with the current situation. With niche offerings and focused efforts and investments in the right direction, we have been strengthening our hold”, added Aggarwal.
About Ramco Systems:
Ramco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ramco Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On Innovation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Machine Learning and Event Driven Architecture by building features such as Talk It – which allows transactions to be carried out by simple voice commands, Bot it – which allows users to complete transaction using natural conversations; Mail It – transact with the application by just sending an email; HUB It – a one screen does it all concept built to address all activities of a user; Thumb It – mobility where the system presents users with option to choose rather than type values and Prompt It – a cognitive ability which will let the system complete the tra nsaction and prompts the user for approval.
With 1900+ employees spread across 24 offices, globally, Ramco follows a flat and open culture where empl oyees are encouraged to share knowledge and grow. No Hierarchies, Cabin-less Offices, Respect work and not titles, among others are what makes the team say, Thank God it’s Monday!
Only APAC vendor to be positioned in Gartner Magic Quadrant for ERP, Cloud Financials, Cloud HCM and EAM;
Leader in NelsonHall’s NEAT Matrix for Next Gen Payroll Services
Awarded for Payroll Innovation in 2018 by Global Payroll Association;
Positioned as Major Contender in Everest Group’s Multi-Country Payroll Platform PEAK Matrix
For more information, please visit http://www.ramco.com/
Follow Ramco on Twitter @ramcosystems and stay tuned to http://blogs.ramco.com
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward looking statements wh ich involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense com petition in IT business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, wi thdrawal of governmental fiscal incentives, political instability, and unauthorized use of our intellectual pro perty and general economic conditions affecting our industry. Ramco Systems may, from time to time, make add itional written and oral forward-looking statements, including statements contained in our reports to shar eholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.—
