Microcap IT stock which provides multi-tenant cloud and mobile-based enterprise software in HR, global payroll, and many more, jumped 3 percent in the day’s trade following its collaboration with Deloitte to redefine the landscape of payroll transformation and incorporating a new subsidiary in South Korea.
In the day’s trade, the shares of Ramco Systems closed at Rs. 282.45, up 2.15 percent from its previous day’s close price of Rs. 282.45 and its market capitalization is Rs. 992 Crores.
Deloitte Touche Tohmatsu India LLP has entered into a strategic partnership with Ramco Systems Limited, to redefine the landscape of payroll transformation. This partnership leverages Ramco’s innovative payroll platform in conjunction with Deloitte’s expert advisory and managed services.
Together, they are committed to delivering an all-encompassing payroll solution that ensures operation services, compliance, seamless user experience, and comprehensive coverage spanning over 150+ countries, all accessible through a single, unified payroll platform.
In addition to this Ramco Systems Limited has incorporated a wholly owned subsidiary of the company named Ramco System Korea Company Limited in South Korea, to carry on the business operations in Korea.
The company has reported revenue from operations of Rs. 531.1 Crores in FY22 to Rs. 492.22 Crores in FY23, accompanied by increasing losses of Rs. 73.36 Crores to Rs. 206.84 Crores, due to the increase in expenditure and decrease in sales.
In the financial year 2023, it reported a debt-to-equity ratio of 0.08, it has reported negative return ratios from last year with a return on equity (ROE) of -37.1 percent and a return on capital employed (ROCE) of -32.6 percent.
According to the latest shareholding data available for the September 2023 quarter, the Promoters of the company hold 52.03 percent stake, the Foreign Institutional Investors (FII) hold 9.69 percent and the Domestic Institutional Investors hold 5.93 percent.
Ramco Systems Limited is a global enterprise software company, it is engaged in providing multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, Enterprise resource planning(ERP), Maintenance and engineering, Maintenance Repair, and Overhaul for its customers worldwide.
Written by: Bharath K.S
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