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Last Updated: April 2, 2026, 3:34 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532370 | NSE: RAMCOSYS

Ramco Systems Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹240.60Overvalued by 33.72%vs CMP ₹363.00

P/E (31.2) × ROE (10.9%) × BV (₹86.70) × DY (2.00%)

₹246.61Overvalued by 32.06%vs CMP ₹363.00
MoS: -47.2% (Negative)Confidence: 54/100 (Moderate)Models: 2 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹477.2827%Under (+31.5%)
Graham NumberEarnings₹107.3716%Over (-70.4%)
DCFCash Flow₹130.8913%Over (-63.9%)
Net Asset ValueAssets₹86.429%Over (-76.2%)
EV/EBITDAEnterprise₹467.0211%Under (+28.7%)
Earnings YieldEarnings₹59.109%Over (-83.7%)
ROCE CapitalReturns₹128.7511%Over (-64.5%)
Revenue MultipleRevenue₹157.636%Over (-56.6%)
Consensus (8 models)₹246.61100%Overvalued
Key Drivers: EPS CAGR 98.4% lifts DCF — verify sustainability. | Wide model spread (₹59–₹477) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 98.4%

*Investments are subject to market risks

Investment Snapshot

61
Ramco Systems Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health49/100 · Moderate
ROCE 5.4% WeakROE 10.9% AverageD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent
Smart Money60/100 · Moderate
FII holding up 0.35% (6mo) Slight increasePromoter holding at 53.0% Stable
Earnings Quality75/100 · Strong
OPM expanding (-14% → -8%) ImprovingWorking capital: -74 days (improving) Efficient
Quarterly Momentum70/100 · Strong
Revenue (4Q): +18% YoY GrowingOPM: 25.2% (up 16.2% YoY) Margin expansion
Industry Rank50/100 · Moderate
P/E 31.2 vs industry 98.1 Cheaper than peersROCE 5.4% vs industry 14.9% Below peers3Y sales CAGR: 4% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:34 am

Market Cap 1,361 Cr.
Current Price 363
Intrinsic Value₹246.61
High / Low 682/320
Stock P/E31.2
Book Value 86.7
Dividend Yield0.00 %
ROCE5.40 %
ROE10.9 %
Face Value 10.0
PEG Ratio0.32

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Ramco Systems Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ramco Systems Ltd 1,361 Cr. 363 682/32031.2 86.70.00 %5.40 %10.9 % 10.0
Silver Touch Technologies Ltd 1,382 Cr. 109 170/65.443.6 11.40.05 %22.0 %17.6 % 2.00
InfoBeans Technologies Ltd 1,320 Cr. 136 258/67.517.2 37.90.18 %16.8 %12.4 % 10.0
Blue Cloud Softech Solutions Ltd 1,450 Cr. 19.3 38.0/15.029.0 1.740.00 %52.6 %43.6 % 1.00
Dynacons Systems & Solutions Ltd 1,101 Cr. 864 1,215/78113.1 2140.06 %39.2 %37.3 % 10.0
Industry Average17,316.11 Cr418.4898.13120.780.77%14.90%21.00%6.77

All Competitor Stocks of Ramco Systems Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 127.50126.22139.54126.83128.26131.20136.98142.51156.59155.26161.32175.78178.50
Expenses 156.09162.01165.00253.46132.68129.08133.53125.91142.53113.74132.26136.38133.59
Operating Profit -28.59-35.79-25.46-126.63-4.422.123.4516.6014.0641.5229.0639.4044.91
OPM % -22.42%-28.36%-18.25%-99.84%-3.45%1.62%2.52%11.65%8.98%26.74%18.01%22.41%25.16%
Other Income 1.242.070.401.900.621.201.270.910.972.463.521.31-19.98
Interest 3.312.891.581.521.651.481.431.241.181.071.081.040.99
Depreciation 20.7820.3521.6621.4821.3422.7321.5422.8522.9135.4822.2522.8723.15
Profit before tax -51.44-56.96-48.30-147.73-26.79-20.89-18.25-6.58-9.067.439.2516.800.79
Tax % -2.22%-20.29%-3.11%-1.34%-2.50%10.00%7.18%46.50%11.48%31.49%88.43%25.06%-306.33%
Net Profit -50.29-45.41-46.80-145.76-26.12-22.99-19.55-9.64-10.105.081.0812.593.21
EPS in Rs -16.31-12.94-13.27-41.30-7.45-6.50-5.54-2.62-2.741.420.253.370.87

Last Updated: February 4, 2026, 11:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 1:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 263360441449469542569626531492526591671
Expenses 245292360439392453465453532626679514516
Operating Profit 186881107789104173-1-134-15377155
OPM % 7%19%18%2%16%16%18%28%-0%-27%-29%13%23%
Other Income 8431010109149545-13
Interest 121243251310711864
Depreciation 3845464850516669758187103104
Profit before tax -231533-30344234108-73-221-244-2634
Tax % 4%16%27%-136%66%60%68%47%-1%-6%-1%29%
Net Profit -2413241112171157-73-207-242-3422
EPS in Rs -9.945.198.053.513.705.353.3218.16-23.81-58.71-68.30-9.195.91
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)154.17%84.62%-54.17%9.09%41.67%-35.29%418.18%-228.07%-183.56%-16.91%85.95%
Change in YoY Net Profit Growth (%)0.00%-69.55%-138.78%63.26%32.58%-76.96%453.48%-646.25%44.51%166.65%102.86%

Ramco Systems Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:1%
3 Years:4%
TTM:18%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:15%
TTM:94%
Stock Price CAGR
10 Years:-5%
5 Years:9%
3 Years:13%
1 Year:-2%
Return on Equity
10 Years:-8%
5 Years:-20%
3 Years:-37%
Last Year:-11%

Last Updated: September 5, 2025, 12:55 pm

Balance Sheet

Last Updated: December 4, 2025, 1:52 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 16243030313131313135353737
Reserves 92228485510523547575621550498276278287
Borrowings 3662980538821706356106635449
Other Liabilities 87102145132160183203226238294294299331
Total Liabilities 561652660677752843978941875933668669704
Fixed Assets 352373273267260264339340356420430413412
CWIP 0000000000000
Investments 0123333331222955
Other Assets 208278384407489576636598515502237227237
Total Assets 561652660677752843978941875933668669704

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -622193788501669240104113
Cash from Investing Activity + -37-46-44-44-39-57-46-59-85-133-87-109
Cash from Financing Activity + 42242283646-2-103-9148-5613
Net Cash Flow -2-0-414-324-355-3917
Free Cash Flow -47-23-27-5-36-46-8964-771533
CFO/OP -32%34%25%381%12%13%52%98%-14,174%-32%-71%152%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-348.00-230.0081.005.0039.007.00-66.00110.00-57.00-240.00-216.0023.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1431311199392981221061151136657
Inventory Days
Days Payable
Cash Conversion Cycle 1431311199392981221061151136657
Working Capital Days -1257014411895729314512530-64-74
ROCE %-2%5%7%-5%6%8%7%16%-10%-33%-46%-5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 52.14%52.12%52.02%51.96%51.89%51.79%53.43%53.37%53.21%53.17%53.10%53.03%
FIIs 7.83%7.98%9.69%10.09%10.06%10.00%9.65%9.68%9.60%9.89%9.88%9.95%
DIIs 6.21%5.94%5.93%5.94%5.91%5.90%5.65%5.64%5.62%5.62%5.77%5.78%
Public 33.82%33.96%32.35%32.02%32.13%32.31%31.28%31.30%31.58%31.34%31.27%31.25%
No. of Shareholders 40,89840,92839,93437,39634,92234,72432,50531,64731,01930,67429,17028,532

Shareholding Pattern Chart

No. of Shareholders

Ramco Systems Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Flexi Cap Fund 1,323,304 0.06 61.771,468,3632026-02-22 04:01:50-9.88%
HDFC Balanced Advantage Fund 569,833 0.02 26.6N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -9.35-68.51-65.60-23.8718.20
Diluted EPS (Rs.) -9.35-68.51-65.60-23.8718.20
Cash EPS (Rs.) 18.35-43.58-35.740.7440.91
Book Value[Excl.RevalReserv]/Share (Rs.) 84.6288.85152.16189.32212.96
Book Value[Incl.RevalReserv]/Share (Rs.) 84.6288.85152.16189.32212.96
Revenue From Operations / Share (Rs.) 159.07148.82140.84174.73206.33
PBDIT / Share (Rs.) 21.75-42.40-36.842.3760.44
PBIT / Share (Rs.) -5.79-67.00-59.76-22.0437.96
PBT / Share (Rs.) -7.11-68.76-62.58-23.8035.09
Net Profit / Share (Rs.) -9.19-68.18-58.67-23.6718.43
NP After MI And SOA / Share (Rs.) -9.18-68.24-58.66-23.7818.14
PBDIT Margin (%) 13.67-28.49-26.151.3529.29
PBIT Margin (%) -3.64-45.02-42.43-12.6118.39
PBT Margin (%) -4.47-46.20-44.43-13.6117.00
Net Profit Margin (%) -5.77-45.81-41.65-13.548.93
NP After MI And SOA Margin (%) -5.76-45.84-41.64-13.608.79
Return on Networth / Equity (%) -10.84-77.70-38.79-12.638.55
Return on Capital Employeed (%) -5.37-58.26-33.90-10.2815.53
Return On Assets (%) -5.12-36.21-22.15-8.385.92
Total Debt / Equity (X) 0.000.000.070.000.00
Asset Turnover Ratio (%) 0.880.650.250.300.35
Current Ratio (X) 0.820.751.381.912.39
Quick Ratio (X) 0.820.751.381.912.39
Interest Coverage Ratio (X) 16.48-24.16-13.041.3521.06
Interest Coverage Ratio (Post Tax) (X) -5.96-37.84-19.77-12.487.42
Enterprise Value (Cr.) 1195.58913.94643.60806.421610.29
EV / Net Operating Revenue (X) 2.011.731.301.502.54
EV / EBITDA (X) 14.73-6.08-4.95110.088.66
MarketCap / Net Operating Revenue (X) 2.081.781.351.512.56
Price / BV (X) 3.923.011.261.412.49
Price / Net Operating Revenue (X) 2.081.781.351.512.56
EarningsYield -0.02-0.25-0.30-0.080.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ramco Systems Ltd. is a Public Limited Listed company incorporated on 19/02/1997 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L72300TN1997PLC037550 and registration number is 037550. Currently Company is involved in the business activities of Writing , modifying, testing of computer program to meet the needs of a particular client excluding web-page designing. Company's Total Operating Revenue is Rs. 326.57 Cr. and Equity Capital is Rs. 37.32 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
IT Consulting & Software47, P S K Nagar, Rajapalayam Tamil Nadu 626108Contact not found
Management
NamePosition Held
Mr. P R Venketrama RajaChairman
Mr. P V Abinav Ramasubramaniam RajaManaging Director
Mr. Sankar KrishnanNon Independent Director
Mr. A V DharmakrishnanNon Independent Director
Dr. M S KishnaIndependent Director
Mr. Aravind SrinivasanIndependent Director
Justice(Retd) Chitra VenkataramanIndependent Director

FAQ

What is the intrinsic value of Ramco Systems Ltd and is it undervalued?

As of 14 April 2026, Ramco Systems Ltd's intrinsic value is ₹246.61, which is 32.06% lower than the current market price of ₹363.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (10.9 %), book value (₹86.7), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ramco Systems Ltd?

Ramco Systems Ltd is trading at ₹363.00 as of 14 April 2026, with a FY2026-2027 high of ₹682 and low of ₹320. The stock is currently near its 52-week low. Market cap stands at ₹1,361 Cr..

How does Ramco Systems Ltd's P/E ratio compare to its industry?

Ramco Systems Ltd has a P/E ratio of 31.2, which is below the industry average of 98.13. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Ramco Systems Ltd financially healthy?

Key indicators for Ramco Systems Ltd: ROCE of 5.40 % is on the lower side compared to the industry average of 14.90%. Dividend yield is 0.00 %.

Is Ramco Systems Ltd profitable and how is the profit trend?

Ramco Systems Ltd reported a net profit of ₹-34 Cr in Mar 2025 on revenue of ₹591 Cr. Compared to ₹-73 Cr in Mar 2022, the net profit shows a mixed trend.

Does Ramco Systems Ltd pay dividends?

Ramco Systems Ltd has a dividend yield of 0.00 % at the current price of ₹363.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ramco Systems Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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