Ramco Systems records highest ever net profit and EBITDA
- Focus on operational efficiencies in COVID times leads to better performance
- Focus on Innovation, Digital Transformation and strategic entry into U.S. Defense sector leads to Aviation business soaring high
- Logistics seals a large win in India
Chennai, India – August 08, 2020: Ramco Systems (BSE -532370, NSE – RAMCOSYS); a global enterprise software company focusing on Next Generation Cloud ERP, today announced the results for the first quarter of 2020-21.
For the quarter ended June 30, 2020 (Q1: 2020-21), global consolidated income of Ramco Systems Limited stood at USD 19.89m (Rs 148.6cr). The net profit after tax for the quarter amounted to USD 1.85m (Rs. 13.8cr), highest ever.
Q1 Financial Highlights:
- Quarterly order bookings stood at USD 21.37m, 63% growth over Q4
- 4 ‘Million-Dollar-Plus’ deals signed
- Multiple measures initiated to drive operational excellence, results in highest ever EBITDA in a quarter
- Despite the COVlD-19 scenario, focus on austerity measures and collection resulted in the reduction of borrowings by Rs.21.25 crs during the Quarter, with borrowings at Rs.75 crs as at 30th June 2020.
Q1 Business Highlights:
- Ramco Aviation continues to soar high; signs a leading OEM of military rotorcraft and commercial helicopters and MRO in the US
- Focus on Digital Managed Payroll Services pays off with leading, sustainable agricultural innovation and technology company trusting Ramco to cover ~5000 employees across 13 countries in the AsiaPacific
- For the third year in a row, positioned in Nucleus Research’s Workforce Management Technology Value Matrix 2020 – focus on delivering Innovative offerings such as Pandemic Control System help organizations better plan for workforce management (WFM) processes as employees return to work post the COVID-19 pandemic
- With remote planning and deployment being the ‘new normal’ Ramco witnesses the successful go-lives of its enterprise applications across India, Philippines, Singapore, Macau, Egypt, Malaysia, Thailand, Indonesia
- Continues to establish strong foothold in the manufacturing and asset maintenance segment, in the U.S.A.
- Ramco Logistics signs deal with one of the leading conglomerate for its upcoming logistics arm in India.
Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “Ramco has recorded a great start to business this year. Our efforts in delivering outcome via digital transformation and enabling organizat ions to remain agile in an everchanging world are yielding results. Contrary to the fact that the pandemic creat ed a halt for the aviation industry, Ramco’s Aviation offering has seen greater uptake as Defense/ MRO players are leveraging this opportunity to reboot their business. We look forward to aid many such organizations em brace technology and utilize this time to speed up their digital transition. From operations standpoint, tight control measures have led to one of the best performing quarters for us.”
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 transaction and prompts the user for approval.
With 1800+ employees spread across 24 offices, globally, Ramco follows a flat and open culture where employees 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/
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