RAMCOSYS

Ramco Systems Limited

Enterprise software provider for aviation MRO, payroll and logistics solutions embedding agentic AI

Information Technology›Information Technology›IT - Software›Software Products

ramco.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-19

Stock price
₹561.90
Market cap
2,114 Cr
Stock P/E
50.9
P/B
6.00
ROE (FY26)
11.8%
ROCE (FY26)
15.0%
Operating margin (FY26)
9.6%
Debt / equity (FY26)
0.00
OCF / EBITDA (FY26)
84.8%
OCF / EBITDA (3Y)
441.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Ramco Systems sells multi-tenant cloud and mobile enterprise software, mainly for global payroll, aviation maintenance (MRO, maintenance, repair and overhaul), aerospace and defence, and ERP (enterprise resource planning), to 800+ customers worldwide.

Company snapshot

5thBy market cap

Ranked among 14 companies in Software Products.

What we see

Positives
  • ✓441% of operating profit came in as cash over the last three years — profits are backed by real cash.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales127 Cr128 Cr131 Cr137 Cr143 Cr157 Cr155 Cr161 Cr176 Cr178 Cr185 Cr173 Cr
Operating expenses (approx.)253 Cr133 Cr129 Cr134 Cr126 Cr143 Cr114 Cr132 Cr136 Cr134 Cr140 Cr147 Cr
EBITDA-127 Cr-4 Cr2 Cr3 Cr17 Cr14 Cr42 Cr29 Cr39 Cr45 Cr45 Cr25 Cr
OPM %-99.8%-3.5%1.6%2.5%11.7%9.0%26.7%18.0%22.4%25.2%24.3%14.7%
Other income2 Cr0.62 Cr1 Cr1 Cr0.91 Cr0.97 Cr2 Cr4 Cr1 Cr2 Cr0.91 Cr2 Cr
Interest2 Cr2 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr0.99 Cr0.91 Cr0.96 Cr
Depreciation21 Cr21 Cr23 Cr22 Cr23 Cr23 Cr35 Cr22 Cr23 Cr23 Cr23 Cr23 Cr
Profit before tax-148 Cr-27 Cr-21 Cr-18 Cr-7 Cr-9 Cr7 Cr9 Cr17 Cr0.79 Cr22 Cr3 Cr
Tax %1.3%2.5%-10.0%-7.2%-46.5%-11.5%31.5%88.3%25.0%-305.6%-13.9%83.7%
Net profit-146 Cr-26 Cr-23 Cr-20 Cr-10 Cr-10 Cr5 Cr1 Cr13 Cr3 Cr25 Cr0.56 Cr
EPS (₹)₹-41.35₹-7.47₹-6.52₹-5.54₹-2.70₹-2.79₹1.45₹0.25₹3.37₹0.87₹6.70₹0.16

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales—469 Cr542 Cr569 Cr626 Cr531 Cr492 Cr526 Cr591 Cr701 CrSign in free for the trailing twelve months
Operating expenses (approx.)—393 Cr454 Cr466 Cr455 Cr533 Cr628 Cr680 Cr516 Cr542 CrSign in free for the trailing twelve months
EBITDA—76 Cr88 Cr103 Cr171 Cr-2 Cr-135 Cr-154 Cr76 Cr158 CrSign in free for the trailing twelve months
OPM %—16.2%16.2%18.1%27.3%-0.4%-27.5%-29.4%12.8%22.6%Sign in free for the trailing twelve months
Other income—10 Cr10 Cr9 Cr15 Cr9 Cr6 Cr4 Cr6 Cr7 CrSign in free for the trailing twelve months
Interest—1 Cr4 Cr12 Cr9 Cr5 Cr10 Cr6 Cr5 Cr4 CrSign in free for the trailing twelve months
Depreciation—50 Cr51 Cr66 Cr69 Cr75 Cr81 Cr87 Cr103 Cr91 CrSign in free for the trailing twelve months
Profit before tax—34 Cr42 Cr34 Cr108 Cr-73 Cr-221 Cr-244 Cr-26 Cr49 CrSign in free for the trailing twelve months
Tax %—66.2%60.1%67.6%47.5%0.5%6.3%0.8%-29.3%14.1%Sign in free for the trailing twelve months
Net profit—12 Cr17 Cr11 Cr57 Cr-73 Cr-207 Cr-242 Cr-34 Cr42 CrSign in free for the trailing twelve months
EPS (₹)—₹3.70₹5.36₹3.32₹18.20₹-23.87₹-65.60₹-68.51₹-9.35₹11.19Sign in free for the trailing twelve months
Dividend payout %————0.0%————0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital30 Cr31 Cr31 Cr31 Cr31 Cr31 Cr35 Cr35 Cr37 Cr37 Cr
Reserves510 Cr523 Cr547 Cr575 Cr621 Cr550 Cr498 Cr276 Cr278 Cr312 Cr
Borrowings5 Cr38 Cr82 Cr93 Cr——38 Cr———
Other liabilities132 Cr160 Cr182 Cr277 Cr286 Cr291 Cr359 Cr353 Cr349 Cr391 Cr
Total liabilities677 Cr752 Cr843 Cr978 Cr941 Cr875 Cr933 Cr668 Cr669 Cr745 Cr
Fixed assets (net)17 Cr17 Cr21 Cr91 Cr77 Cr70 Cr82 Cr73 Cr62 Cr52 Cr
CWIP——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0.30 Cr0.34 Cr
Investments3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr12 Cr2 Cr29 Cr2 Cr
Loans & advances——1 Cr0 Cr0 Cr0 Cr0 Cr0.10 Cr0.22 Cr0.44 Cr
Inventories0.02 Cr—0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Trade receivables114 Cr118 Cr146 Cr190 Cr182 Cr167 Cr152 Cr95 Cr92 Cr112 Cr
Cash & bank8 Cr14 Cr11 Cr15 Cr15 Cr13 Cr16 Cr18 Cr44 Cr123 Cr
Other assets535 Cr601 Cr661 Cr679 Cr663 Cr622 Cr671 Cr480 Cr441 Cr456 Cr
Total assets677 Cr752 Cr843 Cr978 Cr941 Cr875 Cr933 Cr668 Cr669 Cr745 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity37 Cr7 Cr8 Cr50 Cr166 Cr92 Cr40 Cr104 Cr113 Cr134 Cr
Cash from investing-34 Cr-40 Cr-50 Cr-57 Cr-66 Cr-85 Cr-127 Cr-77 Cr-106 Cr-46 Cr
Cash from financing8 Cr32 Cr46 Cr-2 Cr-103 Cr-9 Cr148 Cr-56 Cr13 Cr-19 Cr
Net cash flow11 Cr-0.44 Cr4 Cr-9 Cr4 Cr-3 Cr55 Cr-39 Cr17 Cr80 Cr
Free cash flow (OCF − Capex)-5 Cr-36 Cr-46 Cr-8 Cr96 Cr4 Cr40 Cr104 Cr113 Cr134 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—6.0%7.0%6.6%17.8%-11.6%-36.7%-75.4%-6.7%15.0%
ROE %—2.1%2.8%1.7%8.5%-12.6%-38.6%-76.8%-10.7%11.8%
Debtor days—9298122106114113665758
Inventory days——00000000
Days payable—363037334751503534
Cash conversion cycle—566885736761162224
OCF / EBITDA %—9.2%9.5%49.0%96.7%———149.9%84.8%
OCF / EBITDA % (3 years)———24.7%62.0%113.1%n.m.——441.0%
Debt / equity0.00930.070.140.15——0.07——0.00
Current ratio2.271.761.481.572.391.911.380.750.821.03
Net debt / EBITDA——0.810.75-0.09———-0.58-0.77