Ramco Systems hits the roof after order win

Ramco Systems hit an upper circuit of 5% at Rs 360.05 after the company said it won an order from European dairy company, Arla, for modernizing and transforming its multi-country payroll operation.

Arla Foods is World's largest producer of organic dairy products and global top 10 dairy company. It will implement Ramco Global Payroll & HR software to streamline multi-country payroll and time & attendance operations across 5 Middle East countries on a single platform. The announcement was made during trading hours today, 17 September 2020.

Ramco Systems' consolidated net profit surged 380.7% to Rs 14.18 crore on a 4% increase in net sales to Rs 145.25 crore in Q1 June 2020 over Q1 June 2019.

Ramco Systems is an enterprise software, offering cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

The scrip hit a 52-week high at Rs 360.05 today. It has surged 461.70% from its 52-week low of Rs 64.10 hit on 21 May 2020.

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