The shares of this small-cap company engaged in providing software solutions hit a 10 percent upper circuit to Rs.366.2 after receiving an order from Transport Canada’s Aircraft Services Directorate (ASD).
Share price movement
The shares of Ramco Systems (NS:RMCS) Ltd. hit a 10 percent upper circuit in Wednesday’s trading session closing at Rs.366.2 per share from its previous close of Rs.332.95 apiece.
Is Ramco Systems a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
What is the news
Ramco Systems’ aviation software has received an order from Transport Canada’s Aircraft Services Directorate (ASD) to manage its aircraft inventory and maintenance. This new system will provide integrated solutions for rotary and fixed-wing fleets across Canada.
It will meet Canadian Aviation Regulations and include tools for maintenance and supply chain management. The solution will give ASD a modern and digital way to manage its aircraft inventory and maintenance activities across all its bases.
Additionally, Ramco will assist ASD in improving efficiency and moving towards a paperless system through its Ramco Anywhere mobile apps.
Management Commentary
Sundar Subramanian, Chief Executive Officer, Ramco Systems, said, “We are honored to be chosen as Transport Canada’s Aircraft Services Directorate technology partner for their digital transformation. This collaboration further expands and solidifies our position in Canada.”
International Presence
Ramco Systems Limited has a significant international presence, operating in 30 locations across 35 countries. The company has established 16 offices in 9 countries, including the USA, Europe, Asia-Pacific, the Middle East, and South Africa.
In 2023, Ramco inaugurated a wholly-owned subsidiary in Qatar to enhance its services in the region.
Financials
Ramco Systems Ltd . reported revenue from operations of Rs.137 crores in the quarter ending June 2024, reflecting a 2 percent decrease from Rs.140 crore in Q1 of FY24, but a 4.5 percent increase compared to Rs.131 crore in Q4 FY24.
Furthermore, Ramco Systems reduced its net losses to Rs.20 crore in Q1FY25 from Rs.47 crore in Q1 FY24 and Rs.23 crore in Q4 FY24.
Despite improving net losses, Ramco Systems Ltd. has faced challenges in overall financial performance.
About the company
Ramco Systems Limited is an Indian multinational company that provides enterprise software products and platforms. The company utilizes various technologies, including AI, ChatBot, Facial Recognition, Voice-enabled navigation, Mobility, and Cloud Computing. More than 24,000 users trust Ramco Aviation Software to manage over 4,000 aircraft globally.
Written by – Siddesh S Raskar
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