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Ramco Systems

RAMCOSYS NSE
₹537.40 No trade today
P/E
48.46
View as Markdown
MCP
Close 4 Nov 2026 ₹537.40 −102.35 −16.0% 1Y
Start ₹639.75

Key Fundamentals

MicrocapIT - SoftwareInformation Technology

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
19.70%
Debt to Equity
0.12
EPS (TTM)
₹11.09
Book Value
₹92.93
Market Cap
—
P/E (TTM)
48.46
P/B
5.78
ROE
18.10%
Dividend Yield
0.00%
EBITDA
₹166 Cr
52W High
₹967.50
52W Low
₹342.10
Volume
0

Tapetide Score

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

Overall score

45 Average

Data confidence 100/100

Category scores

Quality
54
Average
Returns, margins, earnings quality 22% weight
Valuation
32
Poor
Cheap vs sector & own history 24% weight
Growth
43
Weak
Sales & profit trajectory 9% weight
Financial Health
31
Poor
Solvency, leverage, coverage 9% weight
Momentum
72
Strong
Trend strength, vol-adjusted 12% weight
Ownership
38
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has reduced debt.

Weaknesses

3
  • Stock is trading at 5.93 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.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish874
OscillatorsNeutral171
Moving AveragesStrong Bearish703

Key readings

RSI (14)
47.68
Neutral
MACD (12,26,9)
−12.23
Bullish
SMA (50)
562.51
Bearish
SMA (200)
534.80
Bullish

As of

Analyst Rating

Based on 1 analysts
HOLD100%

0 of 1 analyst rates Buy, 1 Hold, 0 Sell.

As of

BUY
0
0%
HOLD
1
100%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+4.74%
5Y+2.29%
3Y+12.53%
1Y+18.61%
TTM+15.71%

Net profit

Net profit growth by window
10Y+5.76%
5Y−5.92%
3YTurned to profit
1YTurned to profit
TTMTurned to profit

Operating cash flow

Operating cash flow growth by window
10Y+21.57%
5Y−4.19%
3Y+49.63%
1Y+18.58%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+4.45 pp
5Y−4.82 pp
3Y+50.06 pp
1Y+9.79 pp
TTM+5.30 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹449 Cr
Mar 2018₹469 Cr
Mar 2019₹542 Cr
Mar 2020₹569 Cr
Mar 2021₹626 Cr
Mar 2022₹531 Cr
Mar 2023₹492 Cr
Mar 2024₹526 Cr
Mar 2025₹591 Cr
Mar 2026₹701 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹11.00 Cr
Mar 2018₹12.00 Cr
Mar 2019₹17.00 Cr
Mar 2020₹11.00 Cr
Mar 2021₹57.00 Cr
Mar 2022−₹73.00 Cr
Mar 2023−₹207 Cr
Mar 2024−₹242 Cr
Mar 2025−₹34.00 Cr
Mar 2026₹42.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹140 Cr −15.5% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
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 7
  • 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
  • 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

121d ago

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.

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.

Quarterly Results

₹ Cr
RAMCOSYS quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
140
127
128
131
137
143
157
155
161
176
179
185
173
182
Expenses
165
253
133
129
134
126
143
114
132
136
134
140
147
156
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
25.81
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%
14.18%
Other Income
0.4
1.9
0.62
1.2
1.27
0.91
0.97
2.38
3.52
1.31
−19.98
1
2.19
1.33
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
1.02
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
23.59
PBT
−48.3
−148
−26.79
−20.89
−18.25
−6.58
−9.06
7.34
9.25
16.8
0.79
22.1
3.45
2.53
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%
82.21%
Net Profit
−46.8
−146
−26.13
−22.99
−19.56
−9.64
−10.1
5.08
1.08
12.59
3.21
25.17
0.56
0.45
EPS (₹)
−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
—

Sep 2026: from the results filed on 23 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
RAMCOSYS profit and loss, annual, ₹ crore
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
4.02
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 (₹)
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%
—

Balance Sheet

₹ Cr
RAMCOSYS balance sheet, annual, ₹ crore
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

Cash Flow

₹ Cr
RAMCOSYS cash flow, annual, ₹ crore
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/EBITDA
34
25
381
12
13
52
98
−14,174
−32
−71
152
87

Ratios

RAMCOSYS financial ratios, annual
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

Log in to view Ramco Systems insights

68 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 55.44%
  • Public 27.31%
  • FIIs 10.50%
  • Others 4.97%
  • DIIs 1.78%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

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
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 PE ratio of Ramco Systems Ltd?
Ramco Systems Ltd trades at a PE ratio of 48.46 as of 4 Nov 2026, on earnings per share of ₹11.09, against a book value of ₹92.93 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 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Ramco Systems Ltd?
Ramco Systems Ltd reported a return on equity of 18.10%. 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

Website ramco.com
CEO Mr. Poosapadi Ramasubrahmaneya Rajha Venketrama Raja B.Tech., M.B.A.
Employees 1,508
Listed 12 Apr 2000
Face Value ₹10

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