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Ramco Posts Global Income of USD 12.89 m; Revenues Grow 25% Sequentially

August 9, 2011 - Rajapalayam, Tamil Nadu, India

Ramco Systems Limited (BSE - 532370, NSE – RAMCOSYS, MSE – RSST); a leading software company focused on consulting, products and managed services, today announced, the results for the first quarter of FY 2011-12.

For the quarter ended June 30, 2011 (Q1:11-12), global income of Ramco Systems Limited, including revenues from subsidiaries in USA, Canada, Switzerland, Singapore, Malaysia and South Africa stood at USD 12.89 m (Rs 57.10 cr). The profit for the quarter stood at USD 0.12 m (Rs 0.54 cr) as against last year corresponding quarter profit of USD 0.06 m (Rs 0.25 cr).

Highlights – Q1 2011-12:

-- Q1 revenue grows 25% YoY
-- India (including Middle East & Africa) contributed 52% followed by Americas with 27%
-- Ramco OnDemand ERP (ERP on Cloud) continues to show steady growth

Product launch:

-- Ramco launched two new products on the cloud—Ramco OnDemand Analytics & Ramco OnDemand Gateway products.
- Ramco OnDemand Analytics is the first full-fledged pre-built analytics on the Cloud
- Ramco OnDemand Gateway products is a fusion of transaction (ERP) and decision support systems (Analytics) which enables customers to quickly and easily adopt business applications, and then graduate to a full-fledged Cloud ERP.

New subsidiary:

-- Ramco Systems incorporated a wholly owned subsidiary named Ramco Systems FZ-LLC in Dubai.


-- Ramco launched its flagship annual awards to recognize and reward customers – the Ramco Think Ahead Awards. This year, 12 customers from three regions were awarded across 4 categories.

-- Ramco Systems 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.

Commenting on the results, Mr. P.R. Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems Limited, said, - “We are stepping into the next phase of our marketing campaign with a radical message that is bound to stir the conventional ERP market. In the last few years, our Cloud ERP has matured and garnered significant user base. With the launch of Analytics on the Cloud, we now offer a complete suite of application software that covers the entire business lifecycle from the shop floor to the boardroom, on the cloud. In addition, there is also good demand for our Aviation, Government and Banking Analytics offerings, which, along with our cloud offerings (both public and private) will be thrust areas for growth in the coming quarters.”

About Ramco Systems:

Ramco Systems, a part of the USD 875 million Ramco Group, is a leading software company focused on consulting, product and managed services business. Headquartered in Chennai, Ramco Systems was started as an R&D division of Ramco Industries Limited in 1992, and later established as an independent company in 1999. The company focuses on providing innovative business solutions that can be delivered quickly and cost-effectively in complex environments. Globally, Ramco has over 125,000 users from 800+ customer organizations since inception. The company currently has 15 offices spread across India, USA, Canada, Europe, Middle East, South Africa and APAC and employs over 1,500 employees.

Ramco’s key differentiator is its innovative approach to develop products through its revolutionary enterprise application assembly and delivery platform - Ramco VirtualWorks™. Ramco Systems has seven major product suites – Ramco Enterprise Suite, Ramco Enterprise Asset Management Suite, Ramco Aviation, Ramco OnDemand ERP (ERP on Cloud), Ramco Enterprise Information Management Suite, Ramco Advanced Process Control, and Ramco Mine Management. Strong domain knowledge coupled with proven implementation expertise enables Ramco to provide specialized solutions in verticals such as Manufacturing, Real Estate & Construction, Energy & Utilities, Logistics, Service, BFSI, Aviation, Government and Defense.

Ramco Systems has been assessed for ISO 9001:2008 and ISO 27001:2005 information security standards. Ramco’s BPO unit is SAS 70 Type II certified.

“Ramco Systems Limited (“the Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a rights issue of its equity shares and has filed a draft letter of offer (“DLOF”) with the Securities and Exchange Board of India (“SEBI”). The DLOF is available on the website of SEBI at, on the website of the lead manager at and of the Company at Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled “Risk Factors” of the aforementioned DLOF. The distribution of the DLOF to persons in certain jurisdictions outside India may be restricted by legal requirements prevailing in those jurisdictions. Persons into whose possession the DLOF may come will require them to inform themselves about and observe such restrictions. The equity shares proposed to be issued have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India (including but not limited to any securities laws in the United States) and may not be offered or sold, and persons in any such jurisdiction shall not participate in the proposed issue except in compliance with the applicable laws of such jurisdiction”.

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Safe Harbor

Certain statements in this release concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Ramco Systems may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.

To view the financial results, please click on the link given below:

Financial Results

Source: Business Wire India


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