Financial Performance Summary

Quarterly Results (Q2 FY2027 ended September 30, 2026)

  • Global Consolidated Income: USD 19.35 million (Rs. 183.29 crore)
  • Net Profit After Tax: USD 0.03 million (Rs. 0.24 crore)
  • Revenue: USD 19.20 million, up 4% quarter-on-quarter (QoQ) from USD 18.38 million in Q1 FY2027
  • EBITDA: USD 2.87 million (maintained from previous quarter)
  • Cash Balance: USD 13.65 million
  • Unexecuted Order Book: Increased to USD 160.91 million from USD 152.26 million in previous quarter, reflecting good order closures in Q2

Half-Year Performance (H1 FY2027 ended September 30, 2026)

  • Total Revenue: USD 37.58 million compared to USD 39.25 million in H1 FY2026
  • Net Margin: USD 0.11 million (0% of revenue) compared to USD 1.60 million (4% of revenue) in H1 FY2026

Revenue Stream Analysis (Q2 FY2027)

  • Recurring Revenue: USD 12.09 million (63% of total revenue)
  • AMC/Subscription: USD 7.70 million
  • BPO Services: USD 2.74 million
  • Hosting Charges: USD 1.65 million
  • Non-Recurring Revenue: USD 7.11 million (37% of total revenue)
  • License: USD 1.04 million
  • Service: USD 6.00 million
  • Resale of Material: USD 0.07 million

Business Unit Performance (Q2 FY2027)

  • ERP: USD 4.42 million revenue
  • HRP: USD 8.14 million revenue
  • AAD (Aviation, Aerospace & Defense): USD 6.64 million revenue

Geographic Revenue Distribution (Q2 FY2027)

  • Americas: USD 4.76 million
  • Europe: USD 1.10 million
  • APAC: USD 7.34 million
  • India: USD 3.43 million
  • MEA (Middle East and Africa): USD 2.57 million

Profitability Analysis (Q2 FY2027)

  • Gross Margin: USD 10.78 million (56% of revenue)
  • R&D Expenses: USD 3.11 million (16% of revenue)
  • Sales & Marketing Expenses: USD 2.88 million (15% of revenue)
  • General & Administration Expenses: USD 4.96 million (26% of revenue)
  • Net Margin Before Tax: USD 0.27 million (1% of revenue)
  • Taxes: USD 0.22 million
  • Net Margin Attributable to Shareholders: USD 0.03 million

Customer Metrics (Q2 FY2027)

  • Revenue from New Customers: 1%
  • Revenue from Cloud Orders: 64%
  • Number of New Customers Added: 5

Business Highlights

New Customer Wins

  • Royal Jordanian Airlines selected Ramco Aviation Software
  • CFS Aero (UK-based aerospace engineering company) chose Ramco for Engine and APU MRO operations
  • Global drilling solutions company selected Ramco Payce for payroll transformation across four Middle Eastern countries
  • Leading Middle Eastern shipping company entrusted Ramco with payroll streamlining
  • Southeast Asian coal mining company partnered with Ramco for payroll automation

Successful Go-Lives

  • Aurecon (Asia Pacific engineering consultancy) now runs payroll across seven Asian countries on Ramco Payce integrated with Workday
  • Cromwell Property Group moved Australian payroll onto Ramco's platform
  • Ornge (Ontario's air ambulance provider) implemented Ramco's Digital Task Card and Mechanic Anywhere app for maintenance operations
  • Southeast Asian line maintenance services provider now running operations on Ramco Aviation Software

Strategic Partnership

  • Signed Memorandum of Understanding (MoU) with Safran Helicopter Engines SAS to collaborate on engine data integration with Ramco Aviation Software

Recognition

  • Recognized as a Best Tech Brand 2026 by ET Edge The Times Group

Management Commentary

Abinav Raja, Managing Director: "As we continue our transformation, our focus remains on strengthening execution discipline, improving organizational effectiveness, and building greater engineering talent density. We are sharpening our product development processes and accelerating the transition of our portfolio to fully AI-native solutions, enabling sustainable long-term growth."

Sandesh Bilagi, CEO: "Order booking this quarter was the highest in eight quarters. That is the clearest signal yet that our two priorities are working: making Ramco an AI-native company and scaling the business. Our AI-native products are generating strong interest among customers and prospects and that engagement is building a healthy pipeline. Sharper go-to-market execution is converting more of it into wins. We will continue to invest in AI talent, product and sales over the next two quarters, and we expect this momentum to flow progressively into revenue."

Company Overview

Ramco Systems is a global enterprise software product/platform provider with:

  • 800+ customers globally
  • 2 million+ users
  • Operations in Global Payroll, Aviation, Aerospace & Defense, and ERP
  • Focus on cutting-edge technologies including Artificial Intelligence, Machine Learning, RPA, and Blockchain
  • 25+ years of innovation track record