Ramco Systems FY19 revenue grows 16% and Net Profit by 45% in INR
Chennai, India – May 22, 2019: 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 2018-19.
For the year ended March 31, 2019 (FY: 2018-19), global income of Ramco Systems Limited was USD 79.75m (Rs 551.8cr). The net profit after tax for the year stood at USD 2.37m (Rs.16.4cr).
For the quarter ended March 31, 2019 (Q4: 2018-19), global consolidated income of Ramco Systems Limited stood at USD 20.52m (Rs 143.8 cr). The net profit after tax for the quarter, amounted to USD 1.26m (Rs.8.7 cr).
- Records highest ever revenue with 16% growth; while net profit grew 45% in INR terms
- Highest ever quarterly order bookings in Q4 at USD 32.57m
- Average order value continues to grow; 30 ‘Million-Dollar-Plus’ deals signed in FY19 as compared to 23 in FY18
- Revenue from markets outside India stood at 79% in FY19; Asia was the top contributor followed by Americas
- Both in booking and revenue terms, HCM continues to lead the pack contributing 39% of revenue for the year (in rupee terms)
- Over the last 5 years, Global Payroll led HCM has seen a CAGR of over 40%
- ERP identifies its niche in EAM (Enterprise Asset Management) and SRP (Services ERP); momentum begins to pick up
- Logistics Software project in United States with about a million sq.ft of Goods to Person Robotic Warehouse with 250+ robots goes live
- After successful inroads into civil aviation, Ramco’s entry into Defense sector in the U.S. looks promising with several wins and the largest order in Q4
- Investments in new geographies in Asia paying off with 39% of orders getting booked in these countries. Vietnam continues to be in focus as a next key market in Asia
- Ramco was positioned in four Gartner Magic Quadrants – ERP, Cloud Financials, EAM and Cloud HCM; in addition to IDC MarketScape for SaaS ERP and EAM
- Ramco Global Payroll positioned as LEADER in NelsonHall’s NEAT Matrix for Payroll Services and as a Major Contender in Everest Group’s MCPP PEAK report
Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, “The Enterprise Applications market is in the cusp of a change. The future will be driven by Active applications that automate the usual and notifies the user for action when there is a deviation from the usual. At Ramco, we are placing a lot of focus on delivering business relevant use cases around Event Driven Architecture, Artificial Intelligence, Anticipatory Computing and Zero UI (Voice & Chat Bots) to drive digital transformations. In fact, Voice and Chatbots are becoming highly pervasive across our organization. We also pride in implementing and testing our innovations on our business before marketing it to the world. This makes the platform a lot sturdier and foolproof. We will continue to infuse our applications with intelligent and cognitive features that makes us the preferred choice of clients looking for solutions that help them stay ahead of the curve.”
Virender Aggarwal, CEO, Ramco Systems, said, “In our efforts to simplify and focus on fewer offerings, we identified our blue ocean segments in Global Payroll (45+ country coverage on one platform), Aviation MRO, EAM and Logistics ERP. Our focused efforts have helped us with market penetration and win client trust. In addition, we are now seeing newer blue oceans emerge in Defense and Core ERP. With the average order size growing 30% YoY and number of ‘million-dollar-plus’ deals on the rise, we are heading in the right direction of driving improved operational efficiencies, quality client engagements and better resource utilization as an organization.”