Ramco Systems Q4 Review - Results Miss; Multiple Levers To Help In Growth Acceleration: Dolat Capital
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Dolat Capital Report
Ramco Systems Ltd.'s U.S. dollar revenue declined by 11.8% QoQ to $20.6 million (our estimate: $23.7) due to lower license wins at $2.8 million (last quarter $6.6 million).
Profitability adjusted forex gains stood at 8.8% (our estimate: 18.4%) due to revenue decline while operating cost remained stable (up 0.3% QoQ and 4.7% YoY).
Bookings for Q4 were at $23.5 million (down 38.8% QoQ) versus eight quarter average of $25 million.
Trailing twelve months bookings is still strong at $110 million, (up 21.1% YoY) and the unexecuted order book stands at $183 million (2.2 times revenue), indicating sustained momentum and improving revenue visibility.
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