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Ramco Systems FY18 revenue stood at USD 73.15m

Ramco Systems FY18 revenue stood at USD 73.15m

Order Booking stood at USD 104m (21% growth YoY)

Chennai, India – May 23, 2018: Ramco Systems (BSE - 532370, NSE – RAMCOSYS); a global enterprise software company focusing on enterprise cloud platform, products and services, today announced the results for the fourth quarter and financial year 2017-18.

For the year ended March 31, 2018 (FY: 2017-18), global income of Ramco Systems Limited was USD 74.66m (Rs 478.9cr). The net profit after tax for the year stood at USD 1.76m (Rs.11.3cr)

For the quarter ended March 31, 2018 (Q4: 2017-18), global consolidated income of Ramco Systems Limited stood at USD 18.98m (Rs 121.3 cr). The net profit after tax for the quarter, amounted to USD 0.66m (Rs.4.2 cr).

Financial highlights:

  • Annual Revenue grew 9% YoY; while net profit grew 10% YoY
  • Highest ever quarterly order bookings in Q4 at USD 29.2m; helped unexecuted order book grow to USD 153m at the end of FY18 (up 32% YoY)
  • Significantly higher cloud bookings in Q4 resulted in a lower Q4 revenue compared to Q3

Business highlights:

  • Revenue from markets outside India stood at 75% in FY18
  • Asia Pacific (including ANZ) is the top contributor to order book
    • Focus in markets like Myanmar, Philippines, Indonesia, Taiwan generated results with sizeable order booking from these new geographies
  • Ramco HCM saw two large 30,000+ employee count marquee logo’s getting added in Q4 to its clientele
  • Ramco Systems was featured in three Gartner Magic Quadrants – Cloud Financials, EAM and Cloud HCM; in addition to Forrester Wave for SaaS HRMS and IDC MarketScape for SaaS ERP

Operational highlights:

  • EBIDTA saw a significant jump due to improved operational efficiencies, quality client acquisitions, and tailwinds from forex gains
  • FY18 witnessed an increase in number of Million dollar deals which make up over 50% of the orders booked which would result in optimized resource utilization and deeper account engagement

Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “Our products have been recognized by leading research and advisory firms for their comprehensive coverage and unique differentiators which are helping client organizations reap digital transformation. While we continue to build a healthy order book, we will remain focused on delivering client delight which is key to business growth.”

Virender Aggarwal, CEO, Ramco Systems, said, “In a highly cluttered enterprise applications market, we have been leveraging ‘Innovation’ as a key differentiator to drive market momentum. I am glad to share that our initiatives to build HCM Chatbot – Chia – has resulted in clients leveraging Bots across regions to simplify how their employees engage with the HR system. We are now taking the conversational experience a few notches ahead by building Voice based transactions using Amazon Alexa and Google Assistant. This will bring a paradigm shift in the way ERP applications are accessed and transacted upon. The future continues to be exciting for those who believe in disrupting and exploring newer technologies.”