Ramco Systems Ltd

₹ 482 -1.03%

13 Dec - close price

About

Incorporated in 1997, Ramco Systems
Ltd develops ERP Software solutions,
and provides that with related solutions
and services^[1]

Key Points

Business Overview:^[1]^[2]
RSL is a part of the Ramco Group. It provides multi-tenant cloud and mobile-based enterprise software in the area of customised Global Payroll, ERP, Logistics and M&E MRO for Aviation, SRP, and EAM services, etc. It has expertise in catering to the aviation sector and has forayed into the US defence sector.

Website BSE NSE

Market Cap ₹ 1,791 Cr.
Current Price ₹ 482
High / Low ₹ 523 / 262
Stock P/E
Book Value ₹ 83.7
Dividend Yield 0.00 %
ROCE -46.2 %
ROE -57.2 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Debtor days have improved from 97.8 to 66.1 days.
Promoter holding has increased by 1.65% over last quarter.

Cons

Stock is trading at 5.76 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -0.61% over past five years.
Company has a low return on equity of -32.7% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: IT - Software Industry: Computers - Software - Medium / Small

Part of BSE SmallCap BSE Allcap BSE Information Technology

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	140.71	126.03	123.92	119.92	118.59	127.50	126.22	139.54	126.83	128.26	131.20	136.98	142.51
	135.51	134.34	134.34	150.55	159.01	156.09	162.01	165.00	253.46	132.68	129.08	133.53	125.91
Operating Profit	5.20	-8.31	-10.42	-30.63	-40.42	-28.59	-35.79	-25.46	-126.63	-4.42	2.12	3.45	16.60
OPM %	3.70%	-6.59%	-8.41%	-25.54%	-34.08%	-22.42%	-28.36%	-18.25%	-99.84%	-3.45%	1.62%	2.52%	11.65%
	3.93	1.62	1.43	1.03	1.19	1.24	2.07	0.40	1.90	0.62	1.20	1.27	0.91
Interest	1.40	1.31	1.33	1.42	2.34	3.31	2.89	1.58	1.52	1.65	1.48	1.43	1.24
Depreciation	19.01	18.94	18.73	19.32	20.37	20.78	20.35	21.66	21.48	21.34	22.73	21.54	22.85
Profit before tax	-11.28	-26.94	-29.05	-50.34	-61.94	-51.44	-56.96	-48.30	-147.73	-26.79	-20.89	-18.25	-6.58
Tax %	12.77%	-7.05%	-8.95%	0.77%	-2.42%	-2.22%	-20.29%	-3.11%	-1.34%	-2.50%	10.00%	7.18%	46.50%
	-12.72	-25.04	-26.45	-50.73	-60.44	-50.29	-45.41	-46.80	-145.76	-26.12	-22.99	-19.55	-9.64
EPS in Rs	-4.20	-8.18	-8.56	-16.45	-19.57	-16.31	-12.94	-13.27	-41.30	-7.45	-6.50	-5.54	-2.62
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	239	263	360	441	449	469	542	569	626	531	492	526	539
	248	245	292	360	439	392	453	465	453	532	626	679	521
Operating Profit	-9	18	68	81	10	77	89	104	173	-1	-134	-153	18
OPM %	-4%	7%	19%	18%	2%	16%	16%	18%	28%	-0%	-27%	-29%	3%
	8	8	4	3	10	10	10	9	14	9	5	4	4
Interest	6	12	12	4	3	2	5	13	10	7	11	8	6
Depreciation	33	38	45	46	48	50	51	66	69	75	81	87	88
Profit before tax	-41	-23	15	33	-30	34	42	34	108	-73	-221	-244	-73
Tax %	-0%	4%	16%	27%	-136%	66%	60%	68%	47%	-1%	-6%	-1%
	-41	-24	13	24	11	12	17	11	57	-73	-207	-242	-78
EPS in Rs	-17.14	-9.94	5.19	8.05	3.51	3.70	5.35	3.32	18.16	-23.81	-58.71	-68.30	-22.11
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	7%
5 Years:	-1%
3 Years:	-6%
TTM:	4%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	73%

Stock Price CAGR
10 Years:	1%
5 Years:	27%
3 Years:	2%
1 Year:	66%

Return on Equity
10 Years:	-8%
5 Years:	-16%
3 Years:	-33%
Last Year:	-57%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	16	16	24	30	30	31	31	31	31	31	35	35	37
Reserves	113	92	228	485	510	523	547	575	621	550	498	276	274
	286	366	298	0	5	38	82	170	63	56	106	63	60
	79	87	102	145	132	160	183	203	226	238	294	294	340
Total Liabilities	494	561	652	660	677	752	843	978	941	875	933	668	711
	324	352	373	273	267	260	264	339	340	356	420	430	433
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	0	0	1	2	3	3	3	3	3	3	12	2	17
	169	208	278	384	407	489	576	636	598	515	502	236	261
Total Assets	494	561	652	660	677	752	843	978	941	875	933	668	711

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-6	-6	22	19	37	8	8	50	166	92	40	104
	-51	-37	-46	-44	-44	-39	-57	-46	-59	-85	-133	-87
	59	42	24	22	8	36	46	-2	-103	-9	148	-56
Net Cash Flow	2	-2	-0	-4	1	4	-3	2	4	-3	55	-39

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	117	143	131	119	93	92	98	122	106	115	113	66
Inventory Days
Days Payable
Cash Conversion Cycle	117	143	131	119	93	92	98	122	106	115	113	66
Working Capital Days	124	128	125	144	122	125	128	155	151	133	68	-55
ROCE %	-9%	-2%	5%	7%	-5%	6%	8%	7%	16%	-10%	-33%	-46%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	54.38%	54.28%	54.27%	54.28%	54.27%	52.14%	52.12%	52.02%	51.96%	51.89%	51.79%	53.43%
	0.17%	0.28%	0.10%	0.07%	0.07%	7.83%	7.98%	9.69%	10.09%	10.06%	10.00%	9.65%
	9.77%	8.08%	7.91%	7.91%	7.39%	6.21%	5.94%	5.93%	5.94%	5.91%	5.90%	5.65%
	35.67%	37.37%	37.72%	37.75%	38.27%	33.82%	33.96%	32.35%	32.02%	32.13%	32.31%	31.28%
No. of Shareholders	40,187	42,349	42,857	42,581	41,378	40,898	40,928	39,934	37,396	34,922	34,724	32,505

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	55.01%	54.75%	54.71%	54.71%	54.45%	54.28%	52.14%	51.89%	53.43%
	11.76%	12.12%	9.70%	4.76%	1.43%	0.28%	7.83%	10.06%	9.65%
	10.83%	11.23%	13.00%	14.31%	8.58%	8.08%	6.21%	5.91%	5.65%
	22.40%	21.90%	22.59%	26.22%	35.53%	37.37%	33.82%	32.13%	31.28%
No. of Shareholders	13,712	12,487	13,734	15,624	29,997	42,349	40,898	34,922	32,505

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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