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Ramco Systems Q2 FY27 results: net profit down 96.4% to ₹0.45 crore, revenue up 3.5%
Ramco Systems Limited reported consolidated revenue of ₹181.97 crore in Q2 FY27, up 3.5% from Q2 FY26, while EBITDA fell 34.5% to ₹25.81 crore and net profit declined 96.4% to ₹0.45 crore. The result was announced after market hours on 23 October 2026; on the reaction day, the stock fell 4.2% from its pre-results close.
Key points
- Consolidated Q2 FY27 revenue was ₹181.97 crore, up ₹6.19 crore or 3.5% from Q2 FY26 and ₹9.20 crore or 5.3% from Q1 FY27.
- EBITDA was ₹25.81 crore, down ₹13.60 crore or 34.5% year on year, while the EBITDA margin fell 8.2 percentage points to 14.2%.
- Net profit was ₹0.45 crore, down ₹12.15 crore or 96.4% from Q2 FY26, and basic EPS fell from ₹3.37 to ₹0.07.
- H1 FY27 revenue rose 5.2% to ₹354.74 crore, but net profit fell 92.6% to ₹1.01 crore from H1 FY26.
- On the reaction day, the stock fell 4.2%, while the Software Products industry median moved up 2.1%.
How did Ramco Systems perform in Q2 FY27?
Ramco Systems reported consolidated revenue of ₹181.97 crore in Q2 FY27, up 3.5% from ₹175.78 crore in Q2 FY26 and 5.3% from ₹172.77 crore in Q1 FY27. EBITDA was ₹25.81 crore, up ₹0.36 crore from Q1 FY27 but down 34.5% from ₹39.41 crore a year earlier. The EBITDA margin was 14.2%, down 0.5 percentage points from Q1 FY27 and 8.2 percentage points from Q2 FY26.
Profit before tax was ₹2.53 crore in Q2 FY27, down ₹14.27 crore or 84.9% from ₹16.80 crore in Q2 FY26 and ₹0.92 crore or 26.7% from ₹3.45 crore in Q1 FY27. Net profit was ₹0.45 crore, down ₹12.15 crore or 96.4% year on year and ₹0.11 crore or 19.6% sequentially. Basic EPS was ₹0.07, compared with ₹3.37 a year earlier and ₹0.16 in the previous quarter.
The filing also gave standalone results for the quarter. Standalone revenue was ₹87.20 crore, while the company reported a standalone loss of ₹12.72 crore; profit before tax was ₹0.94 crore. The main quarterly figures discussed above are consolidated.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 181.97 | 172.77 | 175.78 | +3.5% | +5.3% |
| Other income | 1.33 | 2.19 | 1.31 | +1.5% | −39.3% |
| Total expenses | 180.77 | 171.51 | 160.28 | +12.8% | +5.4% |
| EBITDA | 25.81 | 25.45 | 39.41 | −34.5% | +1.4% |
| EBITDA margin | 14.2% | 14.7% | 22.4% | −8.2 pp | −0.5 pp |
| Profit before tax | 2.53 | 3.45 | 16.80 | −84.9% | −26.7% |
| Tax | 2.08 | 2.89 | 4.21 | −50.6% | −28.0% |
| Net profit | 0.45 | 0.56 | 12.60 | −96.4% | −19.6% |
| EPS (₹) | 0.07 | 0.16 | 3.37 | −97.9% | −56.2% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Ramco Systems' costs and profit?
Total expenses rose ₹20.49 crore or 12.8% to ₹180.77 crore from ₹160.28 crore in Q2 FY26, outpacing the increase in total income of ₹6.22 crore or 3.5%. Employee cost fell ₹1.40 crore or 1.7% to ₹81.50 crore, while finance costs fell ₹0.02 crore or 1.9% to ₹1.02 crore. Depreciation rose ₹0.72 crore or 3.1% to ₹23.59 crore.
Other expenses increased ₹22.40 crore or 43.3% to ₹74.08 crore from ₹51.68 crore in Q2 FY26. Other income rose ₹0.02 crore or 1.5% to ₹1.33 crore, and there was no exceptional item in either quarter. Tax expense fell ₹2.13 crore or 50.6% to ₹2.08 crore from ₹4.21 crore.
Against Q1 FY27, total expenses rose ₹9.26 crore or 5.4% to ₹180.77 crore. Other expenses increased ₹7.17 crore or 10.7%, employee cost rose ₹2.88 crore or 3.7%, and depreciation rose ₹0.35 crore or 1.5%. Other income fell ₹0.86 crore or 39.3% to ₹1.33 crore, while tax fell ₹0.81 crore or 28.0% to ₹2.08 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 81.50 | 82.90 | −1.40 | −1.7% |
| Finance costs | 1.02 | 1.04 | −0.02 | −1.9% |
| Depreciation | 23.59 | 22.87 | +0.72 | +3.1% |
| Other expenses | 74.08 | 51.68 | +22.40 | +43.3% |
| Total expenses | 180.77 | 160.28 | +20.49 | +12.8% |
| Other income | 1.33 | 1.31 | +0.02 | +1.5% |
| Tax | 2.08 | 4.21 | −2.13 | −50.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Ramco Systems reported consolidated revenue of ₹354.74 crore, up ₹17.65 crore or 5.2% from ₹337.09 crore in H1 FY26. Total income rose ₹16.34 crore or 4.8% to ₹358.26 crore from ₹341.92 crore.
Profit before tax fell ₹20.08 crore or 77.1% to ₹5.98 crore from ₹26.06 crore in H1 FY26. Net profit declined ₹12.67 crore or 92.6% to ₹1.01 crore from ₹13.68 crore, and basic EPS fell ₹3.41 to ₹0.22 from ₹3.63.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 354.74 | 337.09 | +5.2% |
| Profit before tax | 5.98 | 26.06 | −77.1% |
| Net profit | 1.01 | 13.68 | −92.6% |
| EPS (₹) | 0.22 | 3.63 | −93.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹741.30 crore, compared with ₹745.36 crore at 31 March 2026. Total equity was ₹353.96 crore, compared with ₹353.90 crore, and there were no borrowings on either date. Cash fell to ₹69.28 crore from ₹122.71 crore, while trade receivables declined to ₹90.92 crore from ₹112.13 crore and trade payables rose to ₹68.18 crore from ₹64.95 crore.
H1 FY27 operating cash flow was ₹55.07 crore, compared with ₹75.01 crore in H1 FY26. Investing cash flow was negative ₹101.77 crore, compared with negative ₹67.66 crore, while financing cash flow was negative ₹9.72 crore against negative ₹9.31 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 741.30 | 745.36 |
| Total equity | 353.96 | 353.90 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 69.28 | 122.71 |
| Inventories | 0 | 0 |
| Trade receivables | 90.92 | 112.13 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 55.07 | 75.01 |
| Cash from investing | −101.77 | −67.66 |
| Cash from financing | −9.72 | −9.31 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Ramco Systems done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters. It reached ₹185.36 crore in Q4 FY26, the highest quarterly revenue in the series, before falling to ₹172.77 crore in Q1 FY27 and rising to ₹181.97 crore in Q2 FY27.
Net profit reached ₹25.17 crore in Q4 FY26, compared with a low of negative ₹10.10 crore in Q3 FY25. It fell to ₹0.56 crore in Q1 FY27 and ₹0.45 crore in Q2 FY27. The EBITDA margin peaked at 26.7% in Q4 FY25 and was 14.2% in Q2 FY27.
What else did the company announce?
The company filed an intimation on 22 October 2026 stating that ICRA had upgraded the ratings on its bank facilities. The long-term fund-based rating moved from BBB+ (Stable) to A- (Stable), while the short-term fund-based and non-fund-based ratings moved from A2 to A2+. Total facilities covered were ₹150.00 crore.
On 23 October 2026, the board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, following review by the audit committee. The filing also stated that the statutory auditors had issued an unmodified limited review report for the half-year consolidated and standalone results.
How did Ramco Systems shares react?
The results appeared after market hours on 23 October 2026. From the price when the filing appeared, the stock fell 4.3% after five minutes and 3.0% after 15 minutes, before rising 2.2% after 30 minutes. On the reaction day, it closed 4.2% below the pre-results close of ₹501.00.
By the next day's close, the stock remained 4.2% below the pre-results close, and by the fifth session it was up 1.7% from that close. The Software Products industry median rose 2.1% on the reaction day, 3.6% by the next close and 1.8% by the fifth session. Ramco Systems therefore underperformed the industry by 6.2 percentage points on the reaction day and 7.7 percentage points by the next close.
Earlier reaction-day moves were mixed: the stock fell 9.6% on 23 July 2026 and 2.4% on 8 August 2025, rose 19.9% on 21 May 2026 and 20.6% on 21 May 2025, and also rose on 28 January 2026, 4 November 2025 and 5 February 2025.
| After the filing | Stock | Software Products median |
|---|---|---|
| 5 minutes | −4.3% | |
| 15 minutes | −3.0% | |
| 30 minutes | +2.2% | |
| Reaction day | −4.2% | +2.1% |
| Next day | −4.2% | +3.6% |
| 5 days | +1.7% | +1.8% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 23 July 2026 | −9.6% |
| 21 May 2026 | +19.9% |
| 28 January 2026 | +2.2% |
| 4 November 2025 | +4.7% |
| 8 August 2025 | −2.4% |
| 21 May 2025 | +20.6% |
| 5 February 2025 | +4.7% |
| 8 November 2024 | −1.8% |
Source: MarketPing price-reaction measurement.
How did other Software Products companies do?
Nine other Software Products companies that had filed for the quarter were compared with Ramco Systems. Their median revenue growth was 13.9%, while Ramco Systems reported revenue growth of 3.5%. Two peers grew more slowly than the company and seven grew faster.
Among the peers for which profit was compared, eight reported higher profit. The peer comparison was recorded as of 4 November 2026.
| Ramco Systems revenue growth (YoY) | +3.5% |
|---|---|
| Median of 9 other Software Products companies | +13.9% |
| Companies with slower revenue growth than Ramco Systems | 2 of 9 |
| Companies with faster revenue growth than Ramco Systems | 7 of 9 |
| Companies whose net profit rose | 8 of 13 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Ramco Systems' revenue in Q2 FY27?
Revenue from operations was ₹181.97 crore, up 3.5% from ₹175.78 crore in Q2 FY26 (consolidated).
Did Ramco Systems make a profit in Q2 FY27?
Yes. Net profit was ₹0.45 crore, against a net profit of ₹12.60 crore in Q2 FY26.
What was Ramco Systems' EPS in Q2 FY27?
Basic earnings per share were ₹0.07, against ₹3.37 in Q2 FY26.
How did Ramco Systems shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.2% from the previous close; the median Software Products stock moved +2.1%.
When did Ramco Systems announce its Q2 FY27 results?
On 23 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering The Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 16 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On October 23, 2026 - Unaudited Financial Results - 30-09-2026 (BSE, 23 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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