Ramco Systems logo

Ramco Systems

RAMCOSYS NSE

Key Fundamentals

MicrocapSoftware ProductsInformation Technology
Market Cap
₹2,242 Cr
Volatility
Moderate
P/E Ratio
55.2
EBITDA
₹166 Cr
Return on Equity
11.89%
Debt to Equity
0.12
Book Value
₹93.09
52W High
₹967.5
52W Low
₹342.1

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has reduced debt.

Weaknesses

3
  • Stock is trading at 6.36 times its book value
  • The company has delivered a poor sales growth of 2.28% over past five years.
  • Company has a low return on equity of -20.2% over last 3 years.

Growth Rate

Revenue Growth
18.65% higher than 3Y
Net Income Growth
-223% lower than 3Y
Cash Flow Change
18.61% lower than 3Y
ROE
-211% lower than 3Y
ROCE
-322% lower than 3Y
EBITDA Margin (Avg.)
72.06% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk high

Ramco Systems Ltd, with a market cap of ₹3,046 Cr, has shown a sharp turnaround in profitability with TTM profit growth of 276% and last-year ROE recovering to 18%, though this follows years of negative returns on equity averaging -20% over 3 years. The stock has doubled in the past year (100% 1-year CAGR) but trades at a PE of 71.5x and 8.59x book value, reflecting elevated expectations against a historically weak 5-year sales CAGR of just 2%.

Bull Case 8
  • TTM compounded profit growth of 276% signals a strong earnings recovery after years of subdued performance
  • Last-year ROE has turned positive at 18%, a significant improvement from the 3-year average of -20%
  • TTM sales growth of 19% represents a meaningful acceleration compared to the 5-year CAGR of just 2%
  • Promoter holding increased by 2.65% over the last quarter, indicating insider confidence in the business trajectory
  • Company has reduced debt, improving balance sheet health and lowering financial risk
  • 3-year compounded profit growth of 32% shows the earnings recovery is not merely a one-quarter anomaly
  • 3-year stock CAGR of 47% reflects sustained re-rating by the market as fundamentals improved
  • 3-year compounded sales growth of 13% shows revenue momentum building over recent years versus the 5-year average of 2%
Bear Case 8
  • PE of 71.5x is significantly elevated, pricing in substantial future growth that may not materialize
  • 3-year average ROE of -20% and 5-year average of -22% indicate prolonged capital destruction prior to the recent recovery
  • 5-year compounded sales growth of only 2.28% reflects structural revenue stagnation over a long period
  • Stock trades at 8.59x book value, offering limited margin of safety if earnings disappoint
  • Zero dividend yield means shareholders depend entirely on capital appreciation for returns
  • 10-year stock CAGR of just 1% suggests the company has historically failed to create long-term shareholder value
  • 5-year compounded profit growth of only 1% indicates the current profit surge may be a cyclical bounce rather than a structural shift
  • 10-year ROE averaging -8% shows the business has struggled to earn above its cost of equity over a full cycle

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Positives 1
  • New CEO appointed Jul 02

    Raghuveer Sandesh Bilagi appointed as CEO effective July 02, 2026, promoted from President & COO role, signaling leadership continuity and internal succession.

Neutral 2
  • KMP materiality authorization approved Jul 02

    Board authorized Key Managerial Personnel to determine materiality of events under SEBI LODR regulations on July 02, 2026.

  • Promoter declares no encumbrance Jun 17

    Promoter P R Venketrama Raja confirmed no shares were encumbered by the promoter group during FY2025-26 under SEBI SAST Regulations.

TL;DR: Ramco Systems shows stable governance with a smooth internal CEO succession from President & COO to the top role, suggesting strategic continuity. No financial or operational headwinds surfaced in recent news. Promoter holding remains unencumbered, reflecting confidence. The near-term outlook is steady, with the new CEO's execution and any strategic shifts worth monitoring in coming quarters.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
140
127
128
131
137
143
157
155
161
176
179
185
173
Expenses
165
253
133
129
134
126
143
114
132
136
134
140
147
Operating Profit
-25.46
-127
-4.42
2.12
3.45
16.6
14.06
41.52
29.06
39.4
44.91
45.1
25.46
OPM %
-18.25%
-99.84%
-3.45%
1.62%
2.52%
11.65%
8.98%
26.74%
18.01%
22.41%
25.16%
24.33%
14.74%
Other Income
0.4
1.9
0.62
1.2
1.27
0.91
0.97
2.46
3.52
1.31
-19.98
1
2.19
Interest
1.58
1.52
1.65
1.48
1.43
1.24
1.18
1.07
1.08
1.04
0.99
0.91
0.96
Depreciation
21.66
21.48
21.34
22.73
21.54
22.85
22.91
35.48
22.25
22.87
23.15
23.09
23.24
PBT
-48.3
-148
-26.79
-20.89
-18.25
-6.58
-9.06
7.43
9.25
16.8
0.79
22.1
3.45
Tax %
-3.11%
-1.34%
-2.5%
10%
7.18%
46.5%
11.48%
31.49%
88.43%
25.06%
-306.33%
-13.94%
83.77%
Net Profit
-46.8
-146
-26.12
-22.99
-19.55
-9.64
-10.1
5.08
1.08
12.59
3.21
25.17
0.56
EPS in Rs
-13.27
-41.3
-7.45
-6.5
-5.54
-2.62
-2.74
1.42
0.25
3.37
0.87
6.69
0.16
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
360
441
449
469
542
569
626
531
492
526
591
701
712
Expenses
292
360
439
392
453
465
453
532
626
679
514
541
558
Operating Profit
68
81
10
77
89
104
173
-1
-134
-153
77
160
155
OPM %
19%
18%
2.2%
16%
16%
18%
28%
-0.1%
-27%
-29%
13%
23%
22%
Other Income
4
3
10
10
10
9
14
9
5
4
5
-15
-15
Interest
12
4
3
2
5
13
10
7
11
8
6
5
4
Depreciation
45
46
48
50
51
66
69
75
81
87
103
91
92
PBT
15
33
-30
34
42
34
108
-73
-221
-244
-26
49
43
Tax %
16%
27%
-136%
66%
60%
68%
47%
-1%
-6%
-1%
29%
14%
—
Net Profit
13
24
11
12
17
11
57
-73
-207
-242
-34
42
42
EPS in Rs
5.19
8.05
3.51
3.7
5.35
3.32
18.16
-23.81
-58.71
-68.3
-9.19
11.17
11.09
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
24
30
30
31
31
31
31
31
35
35
37
38
Reserves
228
485
510
523
547
575
621
550
498
276
278
312
Borrowings
298
0
5
38
82
170
63
56
106
63
54
43
Other Liabilities
102
145
132
160
183
203
226
238
294
294
299
353
Total Liabilities
652
660
677
752
843
978
941
875
933
668
669
745
Fixed Assets
373
273
267
260
264
339
340
356
420
430
413
402
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
1
2
3
3
3
3
3
3
12
2
29
2
Other Assets
278
384
407
489
576
636
598
515
502
237
227
341
Total Assets
652
660
677
752
843
978
941
875
933
668
669
745
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
22
19
37
8
8
50
166
92
40
104
113
134
Investing
-46
-44
-44
-39
-57
-46
-59
-85
-133
-87
-109
-36
Financing
24
22
8
36
46
-2
-103
-9
148
-56
13
-18
Net Cash Flow
0
-4
1
4
-3
2
4
-3
55
-39
17
80
Free Cash Flow
-23
-27
-5
-36
-46
-8
96
4
-77
15
33
58
CFO/OP
34
25
381
12
13
52
98
-14,174
-32
-71
152
87
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
131
119
93
92
98
122
106
115
113
66
57
58
Cash Conversion Cycle
131
119
93
92
98
122
106
115
113
66
57
58
Working Capital Days
70
144
118
95
72
93
145
125
30
-64
-74
-61
ROCE %
5%
7%
-5%
6%
8%
7%
16%
-10%
-33%
-46%
-5%
20%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

DIIs1.76%Promot.55.51%Others4.70%FIIs11.48%Public26.55%As ofJun 2026

Documents

Frequently Asked Questions about Ramco Systems

What does Ramco Systems Ltd do?
Incorporated in 1997, Ramco Systems Ltd develops ERP Software solutions, and provides that with related solutions and services[1]
Where is Ramco Systems Ltd (RAMCOSYS) listed?
Ramco Systems Ltd trades as RAMCOSYS on the NSE and under code 532370 on the BSE.
Which sector does Ramco Systems Ltd belong to?
Ramco Systems Ltd is classified under the Information Technology sector, in the Software Products industry.
What is the market capitalisation of Ramco Systems Ltd?
Ramco Systems Ltd has a market capitalisation of ₹2,242 Cr, which places it in the Small Cap band.
What is the PE ratio of Ramco Systems Ltd?
Ramco Systems Ltd trades at a PE ratio of 55.20, against a book value of ₹93.09 per share.
What is the 52-week high and low of Ramco Systems Ltd?
Over the last 52 weeks Ramco Systems Ltd has traded between ₹342.1 and ₹967.5.
What is the Return on Equity (ROE) of Ramco Systems Ltd?
Ramco Systems Ltd reported a return on equity of 11.89%. Its debt-to-equity ratio is 0.12.

Company Information

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

Website ramco.com
CEO Mr. Poosapadi Ramasubrahmaneya Rajha Venketrama Raja B.Tech., M.B.A.
Employees 1,508
Listed 2000-04-12
Face Value ₹ 10
Issued Size 3,74,11,925

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