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Ramco posts global income of USD 49.63 m
for FY 2011-12

Quarterly income stood at USD 10.81 m

Chennai, India – May 24, 2012: Ramco Systems (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); an enterprise software company focusing on enterprise cloud platform, products and services, today announced, the results for the fourth quarter of FY 2011-12.

For the quarter ended March 31, 2012 (Q4:11-12), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia, South Africa and Dubai stood at USD 10.81 m (Rs 54.30 cr). The net loss for the quarter stood at USD 1.54 m (Rs 7.34 cr).

For the year ended March 31, 2012 (FY: 2011-12), global income of Ramco Systems Limited stood at USD 49.63 m (Rs 234.15 cr). The net loss for the year stood at USD 1.89 m (Rs 8.93 cr) as against last year corresponding year profit of USD 0.51 m (Rs 2.31 cr). The net loss was mainly attributed to providing for the receivables from a large aviation customer from N. America who had filed for bankruptcy.

Highlights – FY 2011-12: Financial & Business:
  • FY revenue grows 4.67% YoY
  • Establishes itself as a prominent player for ERP on Cloud; lays the platform for taking Ramco ERP on Cloud to global customers
New appointment:

Mr. Virender Aggarwal has been appointed as Chief Executive Officer of Ramco Systems to further strengthen the team. Prior to this, Virender was President & APAC Region Head for a leading IT Services firm based in Singapore. He brings with him rich experience in building brands and expanding markets and has a keen interest in new technologies.

New Product launch:
  • Added two new products on the cloud—Ramco Analytics & Ramco Gateway products.
  • Ramco Banking Analytics announced the launch of its ADF solution, which enables banks to automatically adhere to the RBI guideline for submission of returns without any manual Intervention.
New subsidiary:
  • Ramco Systems incorporated a wholly owned subsidiary named Ramco Systems FZ-LLC in Dubai.
  • Secured the esteemed Watts S Humphrey award for Software Quality and Process Improvement at the SPI Conference 2011, organised by Software Process Improvement Network (SPIN), Chennai.
  • Ramco's BPO operations once again secured an award for Operational Excellence & Quality at the event hosted by Employer Branding Institute; World HRD Congress & Stars of the Industry Group, with CMO Asia as Strategic Partner and held at Singapore.
  • The PCQuest Users' Choice Awards 2011 ranked Ramco ERP as enjoying the highest brand loyalty amongst its SME customers.

Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman and Managing Director, Ramco Systems Limited, said, - "We have a non-linear business model and continue to invest in our platforms and IP. This has helped us stay ahead of the herd and offer a value proposition that can challenge the future of legacy software. In the last few years we have perfected our Cloud ERP offering and are now poised to launch it in global markets. We have brought in senior members with international experience to help us leverage our strengths and strategize our entry into new markets. Ramco ERP on Cloud is functionally strong to challenge any legacy ERP software and replace it. With the cloud technology gaining traction, we look forward to becoming a prominent cloud ERP player, globally."

Download Q4 - 2011-12 results