BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Ramco Systems Ltd.'s Q1 FY22 revenues declined by 6.7% QoQ to $19.2 million (our estimate: $23 million) due to softer bookings (lockdown impact in Asia) and lower license wins at $2.7 million (large Aviation deal was in software-as-a-service).
Ebit margins (adjusted for forex) were at a loss of 5.4% due to revenue decline and operating cost increase of 7.8% QoQ (increased discretionary spends and inflation led).
Bookings for the quarter were weak at $19.7 million versus last quarter average at $27.5 million.
This is largely from the impact of lockdown restrictions in many key Asian markets (Malaysia, Indonesia and Philippines) wherein client prefers in-person meetings.
Expect Ramco Systems' momentum to improve largely in H2 due to pent-up demand from those regions
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