Ramco Systems hardes on new product launch

Ramco Systems hardes on new product launch

Ramco Systems gained 3.13% to Rs 145 at 12:28 IST on BSE, after the company launch of India's first full-fledged Software-as-a-Service enterprise resources planning tool viz. Ramco OnDemand ERP.

The company made this announcement during market hours today, 18 February 2008.

Meanwhile, BSE Sensex was down 30.76 points or 0.17% to 18,084.49.

On BSE, 1,625 shares were traded in the counter. The scrip had an average daily volume of 23,508 shares in the past one quarter.

The stock hit a high of Rs 145.90 and a low of Rs 142.35 so far during the day. The stock had a 52-week high of Rs 256.90 on 31 December 2007 and a 52-week low of Rs 119 on 5 April 2007.

The small-cap scrip had underperformed the market over the past one month till 15 February 2008, declining 25.94% compared to the Sensex’s decline of 8.05%. It had outperformed the market in the past one quarter, declining 5.32% compared to Sensex’s decline of 8.04%.

The company’s current equity is Rs 15.35 crore. Face value per share is Rs 10.

The current price of Rs 145 discounts its Q3 December 2007 annualized EPS of Rs 74.20, by a PE multiple of 1.95.

Ramco OnDemand enterprise resources planning (ERP) is a full-suite web enabled ERP that is available for an affordable subscription and takes care of all information technology (IT) infrastructures, maintenance and support needs, the company said.

On 6 February 2008, Ramco Systems secured an order from Landmark Group, India for human capital management (HCM) solutions.

Ramco Systems reported net profit of Rs 28.55 crore in Q3 December 2007 as compared to net loss of Rs 5.23 crore in Q2 September 2007. Sales rose 18.89% to Rs 25.31 crore in Q3 December 2007 over Q2 September 2007.

The company provides software solutions. The group operates in two segments: software solutions and services and secure converged networking.